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Release Date: October 10, 2007
Release Number: 07-1164-NAT
Contact Name: Gloria Della/Richard Manning
Phone Number: 202.693.8664/202.693.4676
Washington – The U.S. Department of Labor’s
Employee Benefits Security Administration, the Internal Revenue Service
(IRS) and the Pension Benefit Guaranty Corporation today released
advance informational copies of the 2007 Form 5500 Annual Return/Report
of Employee Benefit Plan and related instructions.
Pension and welfare benefit plans required to file an
annual return/report regarding their respective 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 2007 are
described under “Changes to Note” in the 2007 instructions.
Significant changes include:
A new simplified reporting option for eligible plans
with fewer than 25 participants required by the Pension Protection Act (PPA).
Revised Schedule B instructions to reflect the
updated mortality tables and the list of codes used for valuation
purposes, as well as for calculating current liability for plan years
beginning on or after January 1, 2007.
Instructions that caution certain filers that, due to
form changes required by the PPA that will appear in the 2008 Form 5500,
they will have to wait for the 2008 forms rather than using the 2007
forms if they must file a 2008 short plan year report.
This package represents the ordinary annual release
of information copies of the forms and instructions for 2007. Revisions
of the Form 5500 package for 2009 along with electronic filing and
EFAST2 changes are expected to be released soon.
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 2007 forms and on the availability of the official
government-printed forms. Advance copies of the 2007 Form 5500 cannot be
used for 2006 plan year filings. For general assistance, contact the
EFAST Helpline at 1.866.463.3278.
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 upon request (large print, Braille, audio tape or
disc) from the COAST office. Please specify which news release when
placing your request at 202.693.7828 or TTY 202.693.7755. The U.S.
Department of Labor 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.
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