Delinquent Form 5500 Health & Welfare (H&W) Filings
Navigating delinquent Form 5500 filings can be stressful, but you’re not alone. At SK Agency, our concierge-style approach helps clients resolve issues with personal guidance, no delays, and in-house expertise. Below, we answer common questions to get you started. For tailored advice, inquire here and specify your preferred contact method—we’ll reach out promptly and personally!
1. What is a delinquent Form 5500 H&W filing?
A delinquent filing occurs when a Form 5500 (including Schedule H for Health & Welfare plans) is not submitted by the IRS/DOL deadline—typically July 31 for calendar-year plans (or the last day of the 7th month after the plan year ends). Extensions can push this to October 15, but missing even the extended date makes it delinquent. This applies to employer-sponsored H&W plans like health insurance, disability, or life insurance under ERISA.
2. What are the penalties for a delinquent Form 5500 H&W filing?
Penalties can add up quickly: The DOL imposes up to $2,670 per day (as of 2025) for late filings, and the IRS may add $250 per day (capped at $150,000 for small plans). Additional IRS penalties under IRC Section 6652(e) could apply. However, programs like the Delinquent Filer Voluntary Compliance Program (DFVCP) can reduce these to a flat fee (e.g., $750-$4,000 depending on plan size).
3. How do I know if my Form 5500 H&W filing is delinquent?
Check your plan’s filing history via the DOL’s EFAST2 system or your records. If the due date (with any extensions) has passed without submission, it’s delinquent. SK Agency can review your status during a free initial consultation—our experts will guide you personally.
4. Can I correct a delinquent filing on my own?
Yes, but it’s complex. You’ll need to file the overdue Form 5500 electronically via EFAST2. However, errors can lead to audits or higher fines. Our concierge service at SK Agency handles this in-house with our American team, ensuring accuracy and no further delays.
5. What is the Delinquent Filer Voluntary Compliance Program (DFVCP)?
DFVCP is a DOL program allowing plan administrators to voluntarily correct delinquent filings with reduced penalties (e.g., $10 per participant, capped at $1,500 for small plans or $4,000 for large ones, as of 2025). You must file the delinquent Form 5500 returns electronically via the EFAST2 system, and pay the applicable reduced penalty amount directly to the DOL Eligibility requires that the filings haven’t already been audited or penalized by the DOL or IRS. This program doesn’t forgive all penalties (e.g., IRS late-filing fees may still apply separately), but it can significantly lower costs compared to standard enforcement actions. It’s a one-time opportunity per plan, so acting promptly is key—consult a compliance expert like SK Agency to navigate the process and avoid further issues.