Referred to the Committee on Education and Workforce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
The Form 5500 Filing Simplification Act would streamline how employee benefit plan administrators file required annual reports with the federal government. Currently, plans must file Form 5500 within 210 days after their plan year ends; this bill changes that deadline to 15 days after the end of the ninth calendar month following the plan year, creating a more uniform filing timeline. The bill also modernizes the filing process by allowing electronic signatures on Forms 5500 and related documents, and it grants the Treasury Department authority to align regulations with these changes. The legislation applies to all plan years ending after the bill becomes law, and federal agencies have until implementation to create the necessary electronic signature procedures, during which time plans can file in good faith under current rules.
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