Now Offering Full Service 5500 Filings
April 05, 2023
5500 Filing Services
RTO now offers a full service 5500 filing solution. This process is completely hands off for our partners. You simply provide us the Plan Sponsors Name EIN/TIN and contact details and we take care of the rest!
Check out some of the features of RTO's 5500 offering:
- RTO can pull the client's previous-year filing from the DOL database, using the client's EIN, in
order to simplify the entry of information. Can be pulled in batch (in the case of multiple plans) for quick and easy access. - RTO is authorized to electronically submit filings to the DOL on behalf of the client.
- RTO can provide Forms for filing extensions.
- RTO can provide filing coordination with the DFVC program
- All Form 5500 Services data and forms are electronically stored by RTO for later reference. The documents also include a date and time stamp of the original filing and any subsequent re-filings.
RTO's Form 5500 Services cover all required Form 5500 Series forms and schedules for employee welfare benefit plans, as follows:
- Form 5500.
- Schedule A - Insurance Information.
- Schedule C - Service Provider Information.
- SAR - Summary Annual Report.
The process is completely hands off for our partners just send us the plan sponsor name and ein/tin then:
- RTO downloads from the DOL database the most recent Form 5500 filing.
- RTO requests from Company any additional required information.
- Company submits the requested information to RTO.
- RTO prepares the Form 5500, based on the information downloaded from the DOL database and the additional information provided by Company.
- RTO sends the completed Form 5500 to the Plan Administrator for review and approval.
- Upon review and approval by the Plan Administrator, either the Plan Administrator electronically signs the Form 5500 and forwards it to RTO for filing, or RTO electronically signs the Form 5500 based on the proper delegation of authority from the Plan Administrator. RTO then electronically files the Form 5500.
- RTO obtains confirmation of successful filing and provides same to the Plan Administrator.
- If the filing is unsuccessful, RTO consults with Company to correct any defects, and repeats Steps 5-8.
Processing; Filing; Timeframe
The estimated timeframe from (1) RTO's receipt of all information required to complete the Form 5500 to (2) RTO's filing of the Form 5500, is five (5) business days. In the month of July, the timeframe is extended to seven (7) business days.
Form 5500 Pricing
For each Form 5500 (including all required Schedules) completed and filed by RTO, RTO will invoice Company $300 upon RTO's receipt of confirmation of the successful filing of the Form 5500. However, if the company has never filed or requires back filing the price is $400 per 5500.