Under the Department of Labor’s (DOL) electronic filing regulations, plan administrators are required to keep a paper copy of the filed Form 5500 report, including schedules and attachments, in the plan’s records. The DOL stated a paper copy of the electronic filing receipt is not adequate in satisfying this requirement. The paper copy in the records must be a complete copy that is manually signed and dated.
- Unlocking the Power of 401(k): A Game-Changing Tax Law for Small Businesses
- DOL Recovers $234,467 From Restaurant Franchisee for FLSA Violations
- Equity Financing: Attracting Investments for Your Business
- Construction Business Faces $77,684 in Penalties Following OSHA Investigation
- HR Strategy as a Vital Component of Overall Business Strategy