Form 5500 Filing Simplification Act

The Form 5500 Filing Simplification Act changes the deadline for submitting annual reports on employee benefit plans, moving the due date from 210 days after the plan year ends to 15 days after the ninth month begins. This adjustment directly affects plan administrators, sponsors, and participants who must file these reports with the Department of Labor and the IRS. Additionally, the bill requires government agencies to update their rules to allow these forms and related tax returns to be signed electronically. These changes aim to reduce paperwork burdens and modernize how retirement plan information is filed while maintaining the same core reporting requirements.