EBC Insights

Form 5500 is due seven months after the plan year has ended. In order to be granted an extension, the Employer/Plan Sponsor must send the IRS a Form 5558 for each ERISA plan subject to Form…

July is a busy time of year for Form 5500 filings. All plans that are subject to ERISA and meet certain participation size requirements are required to file Form 5500 seven months after the end of the plan year. For calendar year plans (and short plan years ending...

When it comes to Employee Retirement Income Security Act (ERISA) compliance, employers and benefit consultants often ask us questions about plan document and summary plan description (SPD)…

The IRS has officially announced, under Revenue Procedure 2022-38, the 2023 Flexible Spending Account (FSA) and Commuter limits. FSA Limits The Health Care (standard or limited) FSA annual maximum plan contribution limit will increase…

What’s a Wrap Plan? Wrap plans are documents that bundle health and welfare benefits into a single plan document and summary plan description (SPD). These documents help fill in the gaps of required information by wrapping around the insurance certificates…

Everything you need to know about SPDs What’s an SPD and why is it important? Summary Plan Descriptions (SPDs) are documents that include all of the important information that employers and plan participants need to know about their benefit plan.

Form 5500 is due seven months after the plan year has ended. In order to be granted an extension, the Employer/Plan Sponsor must send the IRS a Form 5558 for each ERISA plan subject to Form 5500 obligations…

This time of year, employers who have calendar year Form 5500 obligations begin gathering information for their filing that may include Schedule As and/or Schedule Cs. Employers who sponsor ERISA plans…