As sponsors of retirement and welfare plans face a new requirement this year to file Form 5500 reports electronically, Principal Financial Group has rolled out online tools to help companies with the task.
Organizations with retirement and welfare plans governed by ERISA must file Form 5500s detailing the plans' finances and operations every year, and the Department of Labor is now requiring that all sponsors file electronically using a new system, ERISA Filing Acceptance System II (EFAST2).
Aaron Friedman, national practice leader for retirement and investor services at Des Moines, Iowa-based Principal, says that Principal already provided e-filing services to its clients, but it typically filled in available data first, then passed the form along to the plan's auditor or the company to add any missing information.
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
- Exclusive discounts on ALM and Treasury & Risk events.
- Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.
*May exclude premium content
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
