What plan number should an employer assign to their Wrap plan?
The regulations require that an ERISA plan number be assigned to the Wrap plan. The numbering protocol requires that the number be three digits long and begin with a 5. It is important to know if an employer has a Wrap plan currently in place. If so, it is very important to use that same plan number for consistency in case there have been past 5500 filings tied to that plan number. If the employer is setting up a new plan, it is important to assign a plan number that does duplicate a number used with any other benefit plan under the employer (whether the plan is currently active or not). It is important to try and use consecutive plan numbers within an employers benefit environment.Find another question