Choose the annual return in the Form 5500 series
Key facts
- Human involvement
- YellowClose supervision
- How AI is used
- List the plan year, whether the file describes a one-participant plan or a foreign plan, and which Form 5500 series return the file says is due. Do not state a due date.
- What the lawyer must review
- The Department of Labor's Form 5500 page says Form 5500, Form 5500-SF and the required schedules are filed electronically through EFAST2. Form 8955-SSA is filed with the Internal Revenue Service, not through EFAST2. From 1 January 2021, a one-participant plan or a foreign plan uses Form 5500-EZ and does not use Form 5500-SF for that electronic filing. A filer who is not subject to the electronic-filing requirement may file Form 5500-EZ on paper. Form 5558 is the application for an extension. The instructions, which state the due date and who must attach an accountant's report, were not opened. Do not supply a due date or an audit threshold. This is not a self-managed-fund return. Opinion 512: you choose the form.
- Written for / version
- United States versionUS
Who does what
| Role | What they do |
|---|---|
| Assistance | Consider narrowly defined preparation support after confirming the tool’s capability and permitted scope. |
| Lawyer | Set the scope, supervise the work closely, verify every part relied on, resolve omissions and exceptions, and approve the exact output. |
Checklist
- Check the current court or regulator requirements, prescribed form and attachments for the intended document and filing.
- Confirm the output against the client’s instructions and the complete relevant source material, including omissions or contradictions.
- Resolve exceptions and record the responsible lawyer’s approval of the exact output and intended use.