Employee Benefit Plan Tax and Form 5500 Filing Services
Withum’s Employee Benefit Plan Tax Services Team provides filing preparation services for companies with all types of employee benefit plans, including defined benefit, defined contribution, and welfare benefit plans as well as entities filing as a Direct Filing Entity.
Our experience with complex filing requirements of employee benefit plans and our deep understanding of the Employee Retirement Income Security Act (ERISA) and ERISA compliance has made us one of the most trusted and knowledgeable advisors in the industry.
Prevent Pricey Penalties
Filing Form 5500 on a timely basis is important to demonstrate fiduciary responsibility and avoid costly penalties subjected by both the IRS and DOL.
- The IRS penalty for late filing of a Form 5500 return is $250 per day, up to a maximum of $150,000 per plan year.
- The DOL penalty for late filing can run up to $2,586 per day, with no maximum.
Correction Programs Assistance
If plan administrators fail to file Form 5500 by the annual filing deadline, a missed filing can be corrected by using the DOL Delinquent Filer Voluntary Correction Program (DFVCP).
Our team of Form 5500 Filing Services specialists can help guide you through correcting plan errors to remain in compliance with the DOL and IRS.
Additional Employee Benefit Plan Tax Services
In addition, our Employee Benefit Plan Tax experts can assist with:
- 403(b) and 457(b) Plan Compliance
- Consulting on all types of qualified employee benefit and retirement plans
- Form 720 Excise Tax/PCORI Fees (self-insured plans)
- IRS/DOL representation for examinations
- Termination plan procedures and finding missing participants
- VEBA trust issues
Contact Us
For more information or to discuss your business needs, please connect with a member of our team.
