A proposed rule was published by federal regulators that seeks to modernize and improve the Form 5500 annual return/report that is filed by employee benefit plans. In general, the changes are expected to apply for plan years beginning on or after Jan. 1, 2019.
- The proposal would eliminate the current filing exemption for small group health plans.
- Small group health plans that are fully insured would be required to provide only basic information.
- The new Schedule J would report information about group health plan operations and compliance.
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