Deadline to Distribute Summary Annual Report (SAR)

• Employee benefit plans subject to Title 1 of ERISA
  • excludes defined benefit (DB) plans subject to Title IV of ERISA and as exempted in DOL Reg. 2520.104b-10(g)

This deadline is based on a plan year start of 1/1. Alternate plan year starts may need to adjust the deadline accordingly with their plan year calendar

Summary Annual Report is required to be distributed to employees:

• nine months after plan year ends, or
• if an extension is filed with the IRS, two months after Form 5500 is due

No filing requirement.

Plan participants and beneficiaries

The Form 5500 Series is an important compliance, research, and disclosure tool for the Department of Labor, a disclosure document for plan participants and beneficiaries, and a source of information and data for use by other Federal agencies, Congress, and the private sector in assessing employee benefit, tax, and economic trends and policies. The Form 5500 Series is part of ERISA’s overall reporting and disclosure framework, which is intended to assure that employee benefit plans are operated and managed in accordance with certain prescribed standards and that participants and beneficiaries, as well as regulators, are provided or have access to sufficient information to protect the rights and benefits of participants and beneficiaries under employee benefit plans.

The U.S. Department of Labor, Internal Revenue Service, and the Pension Benefit Guaranty Corporation jointly developed the Form 5500 Series so employee benefit plans could utilize the Form 5500 Series forms to satisfy annual reporting requirements under Title I and Title IV of ERISA and under the Internal Revenue Code.