Forever Form 5500 Janice M. Wegesin, CPC, EA, President, form5500help.com Scott Albert, Chief of the Division of Reporting Compliance, DOL/EBSA Janice M. Wegesin, CPC, EA President, form5500help.com Janice M. Wegesin is the president of JMW Consulting, Inc. in Petoskey, Michigan. She specializes in compliance matters associated with qualified retirement plans as well as employee welfare benefit programs, with an emphasis in reporting and disclosure. [See www.form5500help.com.] With more than 35 years in the employee benefits field, her resume includes consulting firm and large accounting firm background.
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Forever Form 5500
Janice M. Wegesin, CPC, EA, President, form5500help.com
Scott Albert, Chief of the Division of Reporting Compliance,
DOL/EBSA
Janice M. Wegesin, CPC, EA President, form5500help.com
Janice M. Wegesin is the president of JMW
Consulting, Inc. in Petoskey, Michigan. She
specializes in compliance matters associated
with qualified retirement plans as well as
employee welfare benefit programs, with an
emphasis in reporting and disclosure. [See
www.form5500help.com.] With more than
35 years in the employee benefits field, her
resume includes consulting firm and large
accounting firm background.
Janice M. Wegesin, CPC, EA President, form5500help.com
Ms. Wegesin is an Enrolled Agent,
enrolled to practice before the Internal
Revenue Service, and has earned the
designation of Certified Pension
Consultant from the American Society
of Pension Professionals and Actuaries
(ASPPA). She is the author of the Form
5500 Preparer’s Manual (Aspen
Publishers).
Scott Albert, Chief of the Division of Reporting Compliance, DOL
Scott has been the Chief of the Division of
Reporting Compliance since 2000. He has
over 10 years of public accounting
experience managing the audits of
employee benefit plans, property and
casualty insurance companies, and health
care providers. His current responsibilities
include maintaining a multifaceted
reporting compliance program that utilizes
compliance assistance, voluntary
compliance, and traditional enforcement
strategies.
Scott Albert, Chief of the Division of Reporting Compliance, DOL
Scott also provides technical assistance
to filers and plan professionals, serves
as an ERISA-related accounting and
auditing expert within the EBSA, and
assists in the annual Form 5500
revisions. He is a certified public
accountant and a QPA, and holds a
BBA degree with a major in accounting
from the Bernard M. Baruch College,
CUNY.
Disclaimer
The information and opinions presented today
are those of the presenters and do not necessarily
represent the opinions or positions of NIPA or
the Department of Labor’s Employee Benefit
Security Administration (EBSA).
2013 Form Changes
• Form M-1 Compliance attachment
• Required for all welfare plan filings
• Must state:
• Whether the welfare plan is subject to the Form
M-1 filing requirements for the year
• If yes, whether the plan is currently in compliance
• Provide the Receipt Confirmation Code for the
2013 M-1 annual report.
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Form M-1 Attachment
• Any plan that shows a plan number of 501 or greater at
line 1b of Form 5500 must include the attachment.
• Any Form 5500 filing for a retirement plan that shows a
welfare plan feature code at line 8b does not include the
attachment.
• The 2014 Form 5500 will include a specific line instead
of requiring an attachment.
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Small Welfare Plan Filings
• Any small welfare plan that is required to file a Form
5500 (generally, because it is a funded plan):
• Must file Form 5500 if the plan is also required to
file Form M-1
• May file Form 5500-SF if otherwise eligible and no
Form M-1 is required. No Form M-1 attachment is
needed.
9
Business Code Changes
Removed:
• 441221 (Motorcycle Dealers)
• 441229 (All Other Motor Vehicle Dealers)
• 443111 (Household Appliance Stores)
• 443112 (Radio, Television, & Other Electronics Stores)
• 443120 (Computer & Software Stores)
• 443130 (Camera & Photographic Supplies Stores)
• 451220 (prerecorded Tape, Compact Disc, & Record Stores)
• 454311 (Heating Oil Dealers)
• 454312 (Liquefied Petroleum Gas (bottled gas) Dealers)