Form 5500 Series (5500, 5500-SF & 5500-EZ)
What is the Form 5500 Series?
The Form 5500 Series is an annual reporting requirement for many employee benefit plans. It is used to report plan details, participant information, and financial data.
- Form 5500 is the standard annual return/report for many employee benefit plans
- Form 5500-SF is the short form for eligible small plans
- Form 5500-EZ is for one-participant plans (generally owner-only or owner & spouse)
Which form you file depends on your plan type and eligibility.
Key Concept (Choose the Right Form)
Use these three simple explanations to decide what you should file.
Form 5500-EZ
File 5500-EZ if the plan covers only the owner (or owner & spouse). This is a one-participant plan.
Form 5500-SF
File 5500-SF only if your plan covers employees, generally has fewer than 100 participants, and meets all short-form eligibility requirements.
Form 5500
File Form 5500 for employee plans that are not eligible for Form 5500-SF and generally for plans with 100 or more participants.
Important: “Fewer than 100 participants” does not automatically mean “no filing.” It generally affects which form an employee plan may qualify to use, such as Form 5500-SF.
Who Needs to File?
You may need to file a Form 5500 Series return if you sponsor or administer an employee benefit plan. The correct form depends on your plan type.
Employee benefit plans include retirement plans (such as 401(k), profit-sharing, or pension plans) and welfare plans (such as health, dental, vision, or life insurance).
Form 5500
Employee plans that are not eligible for Form 5500-SF and generally plans with 100 or more participants.
Form 5500-SF
Form 5500-SF is available only to eligible small plans (generally fewer than 100 participants) that meet all short-form eligibility requirements.
Form 5500-EZ
One-participant retirement plans (owner-only or owner & spouse), and certain foreign plans.
What Information Must Be Reported?
Some plans must file additional schedules and attachments depending on plan type, size, and financial activity.
How to File the Form 5500 Series
Follow these steps to ensure proper filing:
Step 1: Identify the correct form
Determine whether you should file 5500, 5500-SF, or 5500-EZ.
Step 2: Gather plan information
Collect sponsor/admin details, plan year dates, and participant counts.
Step 3: Prepare financials & schedules
Compile financial information and any required schedules/attachments.
Step 4: File electronically
Form 5500 Series returns are filed electronically through the U.S. Department of Labor’s EFAST2 system. We help prepare your filing and submit it using EFAST2.
Filing Deadlines
Form 5500 Series deadlines depend on your plan year end date.
| Action | Deadline |
|---|---|
| File Form 5500 / 5500-SF / 5500-EZ (normal due date) | Last day of the 7th month after the plan year ends |
| File Form 5558 (extension request) | On or before the normal due date |
| Extended due date (if extension applies) | 15th day of the 3rd month after the normal due date |
Calendar-year example (most common)
Plan year ends Dec 31, 2025 → Normal due date Jul 31, 2026 → Extended due date Oct 15, 2026.
If your plan year ends on a different date, your deadlines will be different.
Deadlines may shift if they fall on weekends or federal holidays.
Late Filing Penalties: What You Need to Know
Penalties may apply if a required Form 5500 Series return is filed late, incomplete, or not filed. Penalties depend on the plan type and the specific filing requirement.
| Penalty Type (examples) | What it may look like |
|---|---|
| DOL/EBSA civil penalty (ERISA example) | Up to $2,739 per day for each day a complete and accurate report is not filed (example amount) |
| IRS penalty (Code example for certain plans) | $250 per day, up to $150,000 (example for certain plans) |
Helpful reminders
- File on time and complete all required schedules/attachments.
- If you need more time, file Form 5558 by the normal due date.
- After submitting, confirm your filing status shows “Filing Received” in EFAST2.
- Penalties may be reduced/waived in some cases (for example, reasonable cause), depending on IRS/DOL rules.