U.S. Labor Department releases advance copies of 2008 Form 5500 annual report

News Release

Release Date: November 25, 2008
Release Number: 08-1753-NAT
Contact Name: Gloria Della
Phone Number: 202.693.8664

Washington – The U.S. Department of Labor's Employee Benefits Security Administration (EBSA), the Internal Revenue Service and the Pension Benefit Guaranty Corp. today released advance informational copies of the 2008 Form 5500 annual return/report and related instructions.

Pension and welfare benefit plans required to file an annual return/report regarding their financial conditions, investments and operations each year generally satisfy that requirement by filing the Form 5500 and any required attachments.

Modifications to the Form 5500 for plan year 2008 are described under "Changes to Note" in the 2008 instructions. Significant changes include:

New actuarial schedules replace the Schedule B (Actuarial Information) and must be used for plan year 2008 plan filings - Schedule MB (Multiemployer Defined Benefit Plan and Certain Money Purchase Plan Actuarial Information) and Schedule SB (Single-Employer Defined Benefit Plan Actuarial Information). If the due date of the plan's 5500 occurs before the 2008 forms are available for filing, the plan has an automatic extension until 90 days after the 2008 forms are available for use for filing in which to file a complete Form 5500, including the Schedule SB or MB, as appropriate.
Multiemployer defined benefit pension plans generally must file additional information as attachments to the Schedule R (Retirement Plan Information). Defined benefit plans of 1,000 or more participants must also include financial asset breakout information as an attachment to the Schedule R.
The voluntary simplified reporting option for certain plans with fewer than 25 participants at the beginning of the plan year will continue for the 2008 filings.

Information copies of the forms, schedules and instructions are available online at www.efast.dol.gov. Filers should monitor the EFAST Web site for information on approved software vendors for completing the 2008 forms and on the availability of the official government-printed forms. These advance copies of the 2008 Form 5500 are for informational purposes only and cannot be used to file a 2008 Form 5500 annual return/report. For general assistance, contact the EFAST Helpline at 866-463-3278.

U.S. Department of Labor news releases are accessible on the Department's Newsroom page. The information in this news release will be made available in alternate format (large print, Braille, audio tape or disc) from the COAST office upon request. Please specify which news release when placing your request at 202.693.7828 or TTY 202.693.7755. The Labor Department is committed to providing America's employers and employees with easy access to understandable information on how to comply with its laws and regulations. For more information, please visit the Department's Compliance Assistance page.