On Friday, July 21, the Department of Labor (DOL) published proposed amendments to its regulations governing annual reporting and proposed revisions to the Form 5500 forms and instructions. 71 Fed. Reg. 41392, 41616 (July 21, 2006). In addition, DOL published a final regulation that requires electronic filing of Form 5500 annual reports. 71 Fed. Reg. 41359 (July 21, 2006). DOL also made available on its website hand written mark-ups showing the proposed changes to the forms and instructions. Assuming the proposals are finalized, the reporting changes announced by DOL, including the requirement to file forms electronically, would go into effect for plan years beginning on or after January 1, 2008.
Comments on the proposed rules and form revisions are due by September 19, 2006.
