The Complete Guide to the Preparation of Form 5500: Part 2 (Currently Unavailable)
Author: Arthur Joseph Werner
| CPE Credit: |
2 hours for CPAs
2 hours Federal Tax Related for EAs and OTRPs
2 hours Federal Tax Law for CTEC |
Tax compliance issues of qualified plans are sometimes confusing to practitioners due to the fact that many lack experience in this area. This course provides the practitioner with a practical understanding of the issues involved in preparing the Annual Return/Report of Employee Benefit Plan (Form 5500).
Publication Date: March 2017
Designed For
CPAs, finance professionals, financial planners.
Topics Covered
- Form 5500& 5500EZ, line by line
- Attachments to Form 5500
- Lines and Schedules to Complete
- Small Pension Plans
- Limited Pension Plan Reporting
- Size of Plans
- Direct Filing Entity
- Requirements for an MTIA
- Requirements for a GIA
Learning Objectives
- Identify a step-by-step guide to preparing the Annual Return/Report of Employee Benefit Plan (Form 5500)
- Recognize the termination of accountants and actuaries relevant to a company's employee benefit plans
- Differentiate reporting requirements between the two sizes of welfare benefit plans
- Identify common characteristics of MTIAs and GIAs
- Recognize when a company can file as a small plan
- Identify the information included on Form 5500 that assists agencies in protecting employee interests
- Describe likely triggers for an audit of Form 5500
- Differentiate types of pension plans not required to complete any of the schedules on Form 5500
- Identify a welfare benefit plan which would typically fund a life insurance contract
- Recognize when a plan that covers the employees of more than one employer is still considered a single employer plan
- Identify when insurance investment contracts held by a plan must be reported on a separate Schedule A
- Describe characteristics of a multiple-employer plan
- Recognize when the filing period line of Form 5500 should be left blank
- Identify the filing requirements for 103-12 Investment Entity
- Recognize which information is not included on Form 5500
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Taxes (2 hours)
Program Prerequisites
None
Advance Preparation
None
