No one wants to be caught flat-footed when the auditors come calling. With a new standard issued by the American Institute of Certified Public Accountants (AICPA), both auditors and plan sponsors will be subject to new responsibilities.

The Form 5500 is an ERISA requirement for retirement plans to report and disclose operating procedures. Advisors use this to confirm that plans are managed according to ERISA standards. The form also allows individuals access to information, protecting the rights and benefits of the plan participants and beneficiaries covered under the plan.

Hey Joel - What are the risks for late 5500 filings? - Tardy in Tallahassee

Beware of the IRS and DOL: Four Red Flags They Seek on Form 5500

The Form 5500 is an ERISA requirement for retirement plans to report and disclose operating procedures.