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Form 5500

  1. Client's Responsibilities
    You offer an FSA/HRA or Health & Welfare plan (i.e., small or large funded plan, or a large combination insured/unfunded plan) ("Plan") that consists of 100 or more participants on the first day of the Plan year.  As the plan administrator and the plan fiduciary of an ERISA plan, you are responsible for complying with annual Form 5500 reporting and disclosure requirements in an accurate and timely manner, and as imposed under ERISA Title I.  If you have elected to have WageWorks provide Form 5500 services, you shall
    1. Determine whether your Plan requires a Form 5500 filing.  WageWorks recommends that you consult with your tax and/or legal advisor regarding this determination.
    2. Provide accurate and complete information to WageWorks in the prescribed electronic data file format.
    3. Timely reply to all correspondence from WageWorks, including the "authorization" email you receive from WageWorks to provide your consent for WageWorks to complete the Form 5500 on your behalf, and provide the name and email address of your designated authorized signatory for the Form 5500.
    4. Go to the Department of Labor's website, and complete the online registration process, following the detailed instructions provided with the authorization email.
    5. Complete the questionnaire provided by WageWorks, and submit the questionnaire and your Schedule A information, if applicable, to WageWorks to initiate the Form 5500 preparation process.
    6. Access the online portal via the link provided by WageWorks, review your Form 5500 and confirm that it is accurate and complete.
    7. E-sign your completed Form 5500 and electronically submit the form to the Department of Labor using your User ID and Password.
    8. Print a hard copy of your Form 5500 and have your designated authorized signatory place a "wet" signature on the form.  Retain the original document for your records, as required by the Department of Labor.
    9. Timely pay all service fees.
  2. WageWorks' Responsibilities
    We have been engaged by you to provide certain services in connection with your Plan(s).  Accordingly, you have authorized us to use our standard procedures for the provision of services that have been designed to ensure that the administration of your plan is in compliance with ERISA Title I.  We shall:
    1. Send you an email notification to your designated email address to inform you of the applicable deadline for filing your Form 5500.
    2. Provide you with a questionnaire to complete, along with instructions on how to electronically file your Form 5500 with the Department of Labor.
    3. Upon receipt of your completed questionnaire and Schedule A information, if applicable, prepare your Form 5500.
    4. Provide you with a link to an online portal where you shall review sign and submit your completed Form 5500 to the Department of Labor.


[V. 10/17/13]