51488 Federal Register / Vol. 86, No. 176 / Wednesday, September 15, 2021 / Proposed Rules 

1Certain one-participant plans and foreign plans 

that are not subject to the requirements of section 

104(a) of ERISA are required to file Form 5500–EZ, 

Annual Return of One Participant (Owners/Partners 

and Their Spouses) Retirement Plan or a Foreign 

Plan. Beginning with 2020 forms filed on or after 

January 1, 2021, the Form 5500–EZ is required to 

be filed electronically through the same system as 

the Form 5500—the Form 5500 Electronic Filing 

Acceptance System (EFAST2). From 2009 to 2019, 

such plans had been permitted to file the Form 

5500–SF electronically in lieu of filing the Form 

5500–EZ on paper with the IRS. See instructions for 

2020 Form 5500–EZ and Form 5500–SF. 

2ERISA section 103 broadly sets out annual 

reporting requirements for employee benefit plans. 

The Form 5500 Annual Return/Report and the 

DOL’s implementing regulations generally are 

promulgated under the ERISA provisions 

authorizing limited exemptions to these 

requirements and simplified reporting and 

disclosure for welfare plans under ERISA section 

104(a)(3), simplified annual reports under ERISA 

section 104(a)(2)(A) for pension plans that cover 

fewer than 100 participants, and alternative 

methods of compliance for all pension plans under 

ERISA section 110. The forms, instructions, and 

related regulations are also promulgated under the 

DEPARTMENT OF LABOR 

Employee Benefits Security 

Administration 

29 CFR Part 2520 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

26 CFR Part 301 

PENSION BENEFIT GUARANTY 

CORPORATION 

29 CFR Part 4065 

RIN 1210–AB97 

Proposed Revision of Annual 

Information Return/Reports 

AGENCY: Employee Benefits Security 

Administration, Labor; Internal Revenue 

Service, Treasury; Pension Benefit 

Guaranty Corporation. 

ACTION: Notice of proposed forms 

revisions. 

SUMMARY: This document contains 

proposed changes to the Form 5500 

Annual Return/Report forms filed for 

employee pension and welfare benefit 

plans under the Employee Retirement 

Income Security Act of 1974 (ERISA) 

and the Internal Revenue Code (Code). 

The proposed form revisions primarily 

relate to statutory amendments to ERISA 

and the Code enacted as part of the 

Setting Every Community Up for 

Retirement Enhancement Act of 2019 

(SECURE Act). The Department of Labor 

(DOL), the Internal Revenue Service 

(IRS), and the Pension Benefit Guaranty 

Corporation (PBGC) (collectively 

‘‘Agencies’’) are also proposing certain 

additional changes intended to improve 

reporting on multiemployer defined 

benefit pension plan funding, update 

Form 5500 financial reporting to make 

the financial information collected on 

the Form 5500 more useful and usable, 

enhance the reporting of certain tax 

qualification and other compliance 

information by retirement plans, and, 

transfer to the DOL Form M–1 (Report 

for Multiple Employer Welfare 

Arrangements (MEWAs) and Certain 

Entities Claiming Exception (ECEs)) 

(Form M–1) participating employer 

information for multiple employer 

welfare arrangements that are required 

to file the Form M–1. The proposed 

revisions would affect employee 

pension and welfare benefit plans, plan 

sponsors, administrators, and service 

providers to plans subject to annual 

reporting requirements under ERISA 

and the Code. 

DATES: Written comments must be 

received by the Department of Labor on 

or before November 1, 2021. 

ADDRESSES: You may submit written 

comments, identified by RIN 1210– 

AB97, by one of the following methods: 

Federal eRulemaking Portal: http://

www.regulations.gov. Follow the 

instructions for submitting comments. 

To facilitate receipt and processing of 

comments, the Agencies encourage 

interested parties to submit their 

comments electronically. 

Mail: Office of Regulations and 

Interpretations, Employee Benefits 

Security Administration, Room N–5655, 

U.S. Department of Labor, 200 

Constitution Ave. NW, Washington, DC 

20210, Attention: Proposed Form 5500 

Revisions RIN 1210–AB97. 

Instructions: All submissions must 

include the agency name and Regulatory 

Identifier Number (RIN) for this 

rulemaking. The Agencies will share 

any comment submitted to one of the 

Agencies individually with the other 

Agencies. To avoid unnecessary 

duplication of effort, the DOL also will 

treat public comments submitted in 

response to this Notice of Proposed 

Forms Revisions as public comments on 

the Notice of Proposed Rulemaking to 

the extent they include information 

relevant to the proposed regulatory 

amendments. If you submit comments 

electronically, do not submit paper 

copies. Comments will be available to 

the public, without charge, online at: 

http://www.regulations.gov and http://

www.dol.gov/agencies/ebsa and at the 

Public Disclosure Room, Employee 

Benefits Security Administration, Suite 

N–1513, 200 Constitution Ave. NW, 

Washington, DC 20210. 

Warning: Do not include any 

personally identifiable or confidential 

business information that you do not 

want publicly disclosed. Comments are 

public records posted on the internet as 

received and can be retrieved by most 

internet search engines. 

FOR FURTHER INFORMATION CONTACT: 

Janet Song or Colleen Brisport Sequeda, 

Office of Regulations and 

Interpretations, Employee Benefits 

Security Administration, U.S. 

Department of Labor, (202) 693–8500 for 

questions related to reporting 

requirements under Title I of ERISA. For 

information related to the IRS changes 

and questions under the Internal 

Revenue Code, contact Cathy 

Greenwood, Employee Plans Program 

Management Office, Tax Exempt and 

Government Entities, (470) 639–2503. 

For information related to PBGC 

changes, including proposed changes to 

the actuarial schedules, contact Karen B. 

Levin, Regulatory Affairs Division, 

Office of the General Counsel, Pension 

Benefit Guaranty Corporation, (202) 

229–3559. 

Customer service information: 

Individuals interested in obtaining 

general information from the DOL 

concerning Title I of ERISA may call the 

EBSA Toll-Free Hotline at 1–866–444– 

EBSA (3272) or visit the DOL’s website 

(www.dol.gov/agencies/ebsa). 

SUPPLEMENTARY INFORMATION:

I. Overview of the Proposal 

A. Background of Form 5500 Annual 

Return/Report of Employee Benefit Plan 

Sections 101 and 104 of Title I and 

section 4065 of Title IV of the Employee 

Retirement Income Security Act of 1974 

(ERISA) and sections 6057(b), 6058(a), 

and 6059(a) of the Internal Revenue 

Code of 1986 (Code), and related 

regulations, impose annual reporting 

and filing obligations on pension and 

welfare benefit plans, as well as on 

certain other entities. Plan 

administrators, employers, and others 

generally satisfy these annual reporting 

obligations by filing the Form 5500, 

Annual Return/Report of Employee 

Benefit Plan (Form 5500), or Form 

5500–SF, Short Form Annual Return/ 

Report of Small Employee Benefit Plan 

(Form 5500–SF) (together ‘‘Form 5500 

Annual Return/Report’’).1 Specifically, 

filing of the Form 5500 or the Form 

5500–SF, as applicable, with any 

required schedules and attachments in 

accordance with the instructions and 

related regulations, constitutes 

compliance with the applicable annual 

reporting requirements under Title I of 

ERISA and the Department’s 

implementing regulations.2 Filing of a 


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Federal Register / Vol. 86, No. 176 / Wednesday, September 15, 2021 / Proposed Rules 51489 

DOL’s general regulatory authority in ERISA 

sections 109 and 505. 

3Estimates are based on 2019 Form 5500 filings. 

DOL notes that single employer welfare plans with 

under 100 participants that are unfunded or insured 

(generally don’t hold assets in trust) are exempt 

from filing a Form 5500 under 29 CFR 2520.104– 

29. Therefore while DOL estimates there are 2.5 

million health plans and 885,000 non-health 

welfare plans, respectively, only 69,000 and 91,000 

of these plans filed a 2019 Form 5500. 

4Source: U.S. Department of Labor, EBSA 

calculations using the Auxiliary Data for the March 

2019 Annual Social and Economic Supplement to 

the Current Population Survey. 

5EBSA based these estimates on the 2018 Form 

5500 filings with the U.S. Department of Labor 

(DOL), reported SIMPLE assets from the Investment 

Company Institute (ICI) Report: The U.S. Retirement 

Market, First Quarter 2021, and the Federal Reserve 

Board’s Financial Accounts of the United States Z1 

June 10, 2021. 

6EFAST2 is an all-electronic system that receives 

and displays Forms 5500 Series Annual Returns/ 

Reports and Form PR Pooled Plan Provider 

Registrations. EFAST2 is operated by a privatesector government contractor on behalf of DOL, IRS, 

and PBGC. 

7See, e.g., Revisions to Annual Return/ReportMultiple-Employer Plans, Interim Final Rule, 79 FR 

66617 (Nov. 10, 2014) (updating the Form 5500 

instructions to require all multiple employer plans, 

including MEWAs, to provide a list of participating 

employers and certain financial information, as 

required by ERISA section 103(g)); Filings Required 

of Multiple Employer Welfare Arrangements and 

Certain Other Related Entities, Final Rule, 78 FR 

13781 (Mar. 1, 2013) (among other things, added 

new questions to Form 5500 for MEWAs that are 

required to complete the Form 5500 to provide 

information on their most recent Form M–1 (Report 

for Multiple Employer Welfare Arrangements 

(MEWAs) and Certain Entities Claiming Exception 

(ECEs) filing) (Form M–1). 

8The SECURE Act was enacted December 20, 

2019, as Division O of the Further Consolidated 

Appropriations Act, 2020 (Pub. L. 116–94). 

Form 5500 or Form 5500–SF, together 

with the required attachments and 

schedules in accordance with the 

instructions, by plan administrators, 

employers, and certain other entities 

also satisfies the annual filing and 

reporting requirements under Code 

sections 6057(b), 6058(a), and 6059(a). 

Filing the Form 5500 Annual Return/ 

Report will also satisfy an applicable 

plan administrator’s annual reporting 

obligation under section 4065 of Title IV 

of ERISA. 

The Form 5500 Annual Return/Report 

serves as the principal source of 

information and data available to the 

Agencies concerning the operations, 

funding, and investments of 

approximately 843,000 pension and 

welfare benefit plans that file.3 ERISA 

plans cover roughly 154 million 

workers, retirees, and dependents of 

private sector pension and welfare 

plans 4 with estimated assets of $12.2 

trillion.5 Accordingly, the Form 5500 

Annual Return/Report is essential to 

each Agency’s enforcement, research, 

and policy formulation programs, as 

well for the regulated community, 

which makes increasing use of the 

information as more capabilities 

develop to interact with the data 

electronically. The data is also an 

important source of information and 

data for use by other federal agencies, 

Congress, and the private sector in 

assessing employee benefit, tax, and 

economic trends and policies. The Form 

5500 Annual Return/Report also serves 

as a primary means by which the 

operations of plans can be monitored by 

participating employers in multiple 

employer plans and other group 

arrangements, plan participants and 

beneficiaries, and by the general public. 

The last time the Agencies 

implemented significant changes to the 

forms and schedules was for the 2009 

form year, in conjunction with the move 

to mandatory electronic filing and a 

related update to the ERISA Filing 

Acceptance System (EFAST2).6 Those 

changes were proposed in 2006, 71 FR 

41615 (Jul. 21, 2006), and finalized in 

2007, effective for the 2009 form series. 

72 FR 64731 (Nov. 16, 2007). Other 

discrete changes that have been made to 

the Form 5500 Annual Return/Report 

over those years were generally set forth 

annually in the ‘‘Changes to Note’’ 

section in the instructions, some of 

which have involved targeted 

rulemaking activity to implement 

reporting changes required by law.7 The 

Agencies most recent significant 

initiative with respect to the Form 5500 

was the publication of a proposal to 

modernize the forms and instructions in 

July 2016. 81 FR 47534 (July 16, 2016) 

(Tri-Agency Notice of Proposed Forms 

Revisions) and 81 FR 47496 (July 16, 

2016) (DOL Notice of Proposed 

Rulemaking) (together the 2016 

Modernization Proposal). The 2016 

Modernization Proposal ultimately was 

not adopted as final changes to the 

forms, instructions, and regulations, 

although a small number of changes that 

were included in the 2016 proposal 

have been finalized, as set forth in the 

‘‘Changes to Note’’ Section in the 

instructions to the Form 5500 Annual 

Return/Report for the years in which the 

changes were made. 

B. Recent Legislative Changes 

Supporting Proposed Annual Reporting 

Improvements 

The SECURE Act,8 which overall was 

designed to expand and preserve 

workers’ retirement savings, is the most 

significant legislation impacting ERISA 

and Code provisions pertaining to 

retirement plans since the Pension 

Protection Act of 2006. Among other 

things, the SECURE Act directed the 

Secretary of Labor and the Secretary of 

Treasury (together ‘‘Secretaries’’) to 

develop a new aggregate annual 

reporting option for certain groups of 

retirement plans and included other 

statutory amendments that directly 

impact annual reporting requirements 

for multiple-employer pension plans 

(MEPs). In relevant part, the SECURE 

Act’s expansion of MEPs and direction 

for the Secretaries to establish a 

consolidated reporting option for 

defined contribution pension plans that 

share certain key characteristics should 

help expand retirement coverage by 

making it easier for record keepers and 

other financial services providers to 

offer attractive retirement plan 

alternatives and for employers, 

especially small ones, to pick from 

among a broader array of alternatives 

what works best for them and their 

employees. 

Section 202 of the SECURE Act 

provides that the Secretaries, shall, in 

cooperation, modify the Form 5500 

Annual Return/Report so that all 

members of a group of defined 

contribution individual account plans 

described in section 202 may file a 

single aggregated annual return/report 

satisfying the requirements of both 

section 6058 of the Code and section 

104 of ERISA. The SECURE Act further 

provides that, in developing the 

consolidated return/report, the 

Secretaries may require any information 

regarding each plan in the group as such 

Secretaries determine is necessary or 

appropriate for the enforcement and 

administration of the Code and ERISA. 

The SECURE Act also mandates that the 

consolidated reporting by such a group 

must include such information as will 

enable participants in each of the plans 

to identify any aggregated return/report 

filed with respect to their plan. Section 

202 provides that to constitute an 

eligible group of plans, all of the plans 

in the group must be either individual 

account plans or defined contribution 

plans as defined in section 3(34) of 

ERISA or in section 414(i) of the Code; 

must have the same trustee as described 

in section 403(a) of ERISA; the same one 

or more named fiduciaries as described 

in section 402(a) of ERISA; the same 

administrator as defined in section 

3(16)(A) of ERISA and plan 

administrator as defined in section 

414(g) of the Code; must have plan years 

beginning on the same date; and must 

provide the same investments or 

investment options to participants and 

beneficiaries. Section 202 further 

provides that a plan not subject to Title 

I of ERISA shall be treated as meeting 

these requirements for being eligible to 

be part of a consolidated reporting 


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51490 Federal Register / Vol. 86, No. 176 / Wednesday, September 15, 2021 / Proposed Rules 

9SECURE Act Section 202(c). 

10 DOL sought comments through a Request for 

Information published on July 31, 2019, on ‘‘open’’ 

MEP structures (those without the need for any 

commonality among the participating employers or 

other genuine organization relationship unrelated to 

participation in the plan) being treated as one 

multiple employer plan for purposes of compliance 

with ERISA. The DOL does not have any current 

plan to take further action regarding defined 

contribution open MEPs due to the SECURE Act 

provisions permitting pooled employer plans as a 

type of open MEP. 

11 29 U.S.C 1002(43). 

12 In establishing a pooled employer plan as a 

new type of multiple employer plan, the SECURE 

Act in section 101(c) specifically referred to plans 

maintained by employers that have a common 

interest other than having adopted the plan. For 

example, the DOL’s recent final association 

retirement plan regulation, at 29 CFR 2510.3–55, 

published July 31, 2019, clarified and expanded the 

types of arrangements that could be treated as MEPs 

under Title I of ERISA to include plans established 

and maintained by a bona fide group or association 

of employers or by a professional employer 

organization (PEO). The SECURE Act provision 

excluding a ‘‘plan maintained by employers that 

have a common interest’’ from the definition of a 

pooled employer plan does not preclude employers 

with a common interest other than participating in 

the plan from establishing or participating in a 

pooled employer plan. Rather, it means that if a 

group of employers with a common interest other 

than participating in the plan establish a MEP, e.g., 

an association retirement plan under the DOL’s 

regulation, the association retirement plan will not 

be subject to the SECURE Act requirements for a 

plan to be a pooled employer plan. 

13New section 3(44) of ERISA establishes 

requirements for pooled plan providers, including 

a requirement to register with the DOL before 

beginning operations as a pooled plan provider. A 

parallel requirement to file a registration statement 

with the Secretary of Treasury is in section 

413(e)(3)(A)(ii) of the Code. On November 16, 2020, 

the DOL published a notice of final rulemaking 

establishing the registration requirement for pooled 

plan providers. 85 FR 72934 (Nov. 16, 2020). The 

Treasury Department and the IRS have advised that 

filing the Form PR with the DOL will satisfy the 

requirement to register with the Secretary of the 

Treasury. The instructions to the Form PR (Pooled 

Plan Provider Registration) (Form PR) advised 

registrants to use the same identifying information 

on the Forms 5500 Annual Return/Report filed by 

the pooled employer plans, particularly name; EIN 

for the pooled plan provider; any identified 

affiliates providing services; trustees; and plan 

name and number for each pooled employer plan. 

The Form PR and its instructions, as well as any 

Form PR that have been filed with the DOL by 

pooled plan providers, are available on the DOL 

website at www.efast.dol.gov. 

14SECURE Act Section 101(d). 

15SECURE Act Section 101(e)(1). 

group of plans, if the same person that 

performs each of the functions 

described in the above requirements, as 

applicable, for all other plans in such 

group performs each of such functions 

for such plan.9

Section 101 of the SECURE Act 

amended ERISA section 3(2) and added 

ERISA sections 3(43) and 3(44) to allow 

for a new type of ERISA-covered MEP— 

a defined contribution pension plan 

called a ‘‘pooled employer plan’’ 

operated by a ‘‘pooled plan provider.’’ 

Pooled employer plans allow multiple 

unrelated employers to participate 

without the need for any common 

interest among the participating 

employers (other than having adopted 

the plan).10 Under section 3(2) of 

ERISA, a pooled employer plan is 

treated for purposes of ERISA as a single 

plan that is a multiple employer plan. 

A pooled employer plan is defined in 

section 3(43) as a plan that is an 

individual account plan established or 

maintained for the purpose of providing 

benefits to the employees of two or more 

employers; that is a qualified retirement 

plan or a plan funded entirely with 

individual retirement accounts (IRA 

plan); and the terms of which must meet 

certain requirements set forth in the 

statute.11 The term pooled employer 

plan does not include a multiemployer 

plan as defined in ERISA section 3(37) 

or a plan maintained by employers that 

have a common interest other than 

having adopted the plan.12 The term 

also does not include a plan established 

before the date the SECURE Act was 

enacted unless the plan administrator 

elects to have the plan treated as a 

pooled employer plan and the plan 

meets the ERISA requirements 

applicable to a pooled employer plan 

established on or after such date. The 

existence of this new type of multiple 

employer plan requires some 

adjustments to the Form 5500 to provide 

for annual reporting by such plans.13

Section 101 of the SECURE Act also 

amended ERISA section 103(g) for 

MEPs. Section 103(g) of ERISA requires 

that the annual return/report of a MEP 

generally must include a list of 

participating employers and a good faith 

estimate of the percentage of total 

contributions made by each 

participating employer during the plan 

year. The SECURE Act amended section 

103(g) to expand the participating 

employer information that must be 

reported on the Form 5500 Annual 

Return/Report 14 also to require the 

aggregate account balances attributable 

to each employer in the plan 

(determined as the sum of the account 

balances of the employees of each 

employer and the beneficiaries of such 

employees), and applied section 103(g) 

to retirement plans that currently meet 

the definition of a MEP under ERISA 

section 210(a), including any pooled 

employer plans, for plan years 

beginning on or after January 1, 2021.15

With respect to a pooled employer plan, 

section 103(g) further requires that the 

annual return/report must include the 

identifying information for the person 

designated under the terms of the plan 

as the pooled plan provider. 

In addition to various changes to the 

forms and instructions to address these 

statutory changes and reflect the 

existence of pooled employer plans and 

defined contribution plan reporting 

arrangements, some of the annual 

reporting changes being proposed are 

intended to ensure appropriate 

transparency and financial 

accountability for pooled employer 

plans, other MEPs, and defined 

contribution plan reporting 

arrangements. The rationales for some of 

those changes apply more broadly to 

retirement plans as a class (for example, 

improvements to the content and format 

for the financial schedules that 

retirement plans use to report 

information regarding their assets, 

investments, income, and expenses), 

and, accordingly, some of the changes 

are being proposed for retirement plans 

in general. 

C. Overview of Proposed Changes to 

Forms, Schedules, and Instructions 

1. General Proposed Changes 

The proposed revisions involve the 

following major categories of changes, 

along with other technical revisions and 

updates, to the current structure and 

content of the Form 5500 Annual 

Return/Report. 

• Update the Form 5500 and its 

instructions to establish requirements 

pursuant to section 202 of the SECURE 

Act for consolidated returns/reports for 

eligible defined contribution group 

(DCG) reporting arrangements as an 

alternative method of compliance for 

certain individual account or defined 

contribution retirement plans relying on 

the consolidated report to satisfy the 

generally applicable requirement that 

employee benefit plans file a Form 

5500. This would include adding a new 

Schedule DCG (Individual Plan 

Information) to provide individual planlevel information for defined 

contribution pension plans covered by a 

DCG consolidated Form 5500 filing. It 

would also include adding a new 

checkbox on the Form 5500 (Part II, line 

10a(4)) to indicate that Schedule DCG is 

attached to the Form 5500, with a space 

for the filer to enter the number of 

Schedules DCG (one per plan) attached 

to the Form 5500 filing. 

• Update the Form 5500 and its 

instructions to add a new Schedule MEP 

(Multiple Employer Pension Plan). 

MEPs would report information specific 

to MEPs, including the ERISA section 

103(g) participating employer 

information, updated to add the new 

aggregate account information that is 


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Federal Register / Vol. 86, No. 176 / Wednesday, September 15, 2021 / Proposed Rules 51491 

16The Agencies may choose as part of a final rule 

to have those plan MEWAs that are not required to 

file the Form M–1 complete the relevant 

participating employer information on the Schedule 

MEP rather than continuing to complete as an 

attachment to the Form 5500. The agencies invite 

comment on any preference from a disclosure, 

forms preparation, or data usage perspective as to 

how the information is collected. 

17This change was proposed partly in light of 

section 112 of the SECURE Act, which provides that 

long-term, part-time workers that have reached 

specified minimum age requirements and worked at 

least 500 hours in each of three consecutive 12- 

month periods must be permitted to make elective 

contributions to a Code section 401(k) qualified 

cash or deferred arrangement for plan years 

beginning on or after January 1, 2024. This could 

add to the number of participants who are eligible 

to, but who elect not to participate in a plan, which 

could impact whether a plan needs to file as a large 

plan. The DOL expects that excluding from the 

participant count those participants who are 

eligible to participate but did not have an account 

balance will reduce expenses for small employers 

to establish and maintain a small retirement plan, 

and as a consequence, encourage more employers 

to offer workplace-based retirement savings plans to 

their employees. 

18 IRS will separately make a parallel update to 

the Form 5500–EZ, which is solely in the 

jurisdiction of the IRS. 

relevant only for pension plans, on the 

Schedule MEP. Questions intended to 

satisfy the SECURE Act’s reporting 

requirements for pooled employer plans 

and questions to link the Form PR 

(Pooled Employer Registration) and the 

Form 5500 for each plan operated by a 

pooled plan provider would also be on 

the Schedule MEP. A new checkbox 

would be added to the Form 5500 (Part 

II, line 10a(5) to indicate that Schedule 

MEP is attached to the Form 5500. 

• Transfer the participating employer 

information from the Form 5500 Annual 

Return/Report to the Form M–1 for all 

multiple employer welfare arrangements 

(MEWAs)) (plan and non-plan MEWAs)) 

that offer or provide coverage for 

medical benefits, and continue to 

require reporting of participating 

employer information on the Form 5500 

Annual Return/Report for plan MEWAs 

that provide other benefits.16

• Update Schedule H and 

instructions to standardize the 

schedules of investment assets required 

to be included in the annual return/ 

report (Schedule H, line 4i Schedules), 

so that the information can be entered 

or imported for improved electronic use 

and transparency. 

• Update the Form 5500 and 5500–SF 

and their instructions on counting 

participants to change the current 

threshold for determining when a 

defined contribution plan may file as a 

small plan, including eligibility for the 

waiver of the requirement for small 

plans to have an audit and include the 

report of an independent qualified 

public accountant (IQPA) with their 

annual report. Specifically, instead of 

using all those eligible to participate, 

filers generally would look at the 

number of participants/beneficiaries 

with account balances as of the 

beginning of the plan year (the first plan 

year would use an end of year measure). 

This proposed change would be 

reflected in a new line item on the Form 

5500 and Form 5500–SF.17

• Add trust questions to the Form 

5500, the Form 5500–SF, and the IRS 

Form 5500–EZ, regarding the name of 

the plan’s trust, the trust’s EIN, the 

name of the trustee or custodian, and 

the trustee’s or custodian’s telephone 

number. This information will enable 

the Agencies to more efficiently focus 

on compliance concerns for retirement 

plan trusts, including those for pooled 

employer plans and DCG reporting 

arrangements. 

• Revise the 2021 5500 Annual 

Return/Report instructions to provide 

an interim method of reporting 

participating employer information for 

MEPs and pooled plan provider 

identification information for pooled 

employer plans pending the Schedule 

MEP implementation for 2022 plan year 

filings. 

Section 101 of the SECURE Act also 

amended ERISA section 104(a)(2)(A) to 

permit the Secretary of Labor to 

prescribe by regulation simplified 

reporting for MEPs subject to ERISA 

section 210(a) with fewer than 1,000 

participants in total, as long as each 

participating employer has fewer than 

100 participants. The DOL is not, 

however, currently proposing to amend 

the current reporting rules to establish 

a ‘‘simplified report’’ for such plans. 

The DOL is interested in stakeholder 

comments on why MEPs subject to 

ERISA section 210(a) should be subject 

to different reporting requirements than 

single employer plans that cover fewer 

than 1,000 participants, and on 

appropriate conditions and limitations 

for such a simplified report that would 

ensure transparency and financial 

accountability comparable to that for 

other large retirement plans. 

2. Internal Revenue Code-Based 

Questions for the 2022 Form 5500s 

To better identify non-compliant 

plans, the IRS is proposing the 

following changes to the 2022 forms, 

schedules, and instructions, including 

adding the proposed Schedule DCG, so 

that certain questions are answered at 

the individual plan level (not the DCG 

level) in order for a plan’s annual 

reporting obligation to be satisfied by a 

DCG Form 5500 filing: 

• Add a nondiscrimination and 

coverage test question to Form 5500, 

Form 5500–SF, and proposed Schedule 

DCG that was on the Schedule T before 

it was eliminated. The question asks if 

the employer aggregated plans in testing 

whether the plan satisfied the 

nondiscrimination and coverage tests of 

Code sections 401(a)(4) and 410(b). 

• Add a question to Form 5500, Form 

5500–SF, and proposed Schedule DCG, 

for section 401(k) plans, asking whether, 

if applicable, the plan sponsor used the 

design-based safe harbor rules or the 

‘‘prior year’’ or ‘‘current year’’ ADP test. 

• Add a question to Form 5500, Form 

5500–SF,18 and proposed Schedule DCG 

asking whether the employer is an 

adopter of a pre-approved plan that 

received a favorable IRS Opinion Letter, 

the date of the favorable Opinion Letter, 

and the Opinion Letter serial number. 

3. Defined Benefit Plan/Title IV 

Questions for the 2022 Form 5500s 

The proposal includes certain changes 

designed to improve reporting by 

defined benefit plans subject to Title IV 

of ERISA. The proposed changes would: 

• Modify Schedule MB, line 3 

instructions to require an attachment 

that breaks down the total withdrawal 

liability amounts by date, separately 

specifying the periodic withdrawal 

liability amounts and lump sum 

withdrawal liability amounts. 

• Modify Schedule MB by adding a 

new requirement for plans that assess 

withdrawal liability to an employer 

during the plan year, to report the 

interest rate used to determine the 

present value of vested benefits for 

withdrawal liability determinations. 

This information would be reported in 

a renumbered new line, 6f. 

• Modify Schedule MB for the 

questions related to the line 6 ‘‘expense 

load’’ to better align with the various 

ways multiemployer plans incorporate 

expense loads into their calculations. 

• Modify Schedule MB, line 8 by 

requiring additional information about 

demographics, benefits and 

contributions for plans with 500 or more 

total participants on the valuation date. 

Certain PBGC-insured single-employer 

plans would be required to report the 

some additional information as well. 

• Modify Schedule MB by changing 

the ‘‘age/service’’ scatter attachment 

which is currently required for PBGCinsured multiemployer plans with 

active participants, regardless of the 

number of participants. 

• Modify Schedule MB by clarifying 

the line 4f instructions and Schedule 

language concerning when or if plans in 

critical status or critical and declining 


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51492 Federal Register / Vol. 86, No. 176 / Wednesday, September 15, 2021 / Proposed Rules 

19The appendices include mock-ups of certain 

forms or parts of forms that are intended to be 

illustrative and facilitate stakeholders’ ability to 

comment on the proposed changes. This approach 

of showing proposed changes will reduce costs 

associated with publication of the proposed form 

changes in the Federal Register and provide greater 

flexibility for the related EFAST2 development 

processes. The Agencies intend to publish mockups of the forms on the DOL’s website as part of 

the EFAST third party software developer 

certification process and in furtherance of public 

education efforts about the changes to be 

implemented. 

status are projected to emerge or become 

insolvent. 

• Make the Schedule SB, line 26 

reporting requirements about 

demographics and benefits similar to 

the requirements for PBGC-insured 

multiemployer plans. 

• Modify Schedule SB’s Part IX, line 

41 because the previously required 

information related to elective funding 

relief under the Pension Relief Act of 

2010 is no longer relevant, and in its 

place, require information about the 

elective funding relief under the 

American Rescue Plan Act of 2021. 

• Modify Schedule R’s Part V, line 13 

requirement that multiemployer defined 

benefit pension plans subject to 

minimum funding standards report 

identifying information about any 

participating employer whose 

contributions to the plan account for 

more than five (5) percent of the total 

contributions for the year to require that 

the ten employers who contributed the 

largest amounts be reported, even if that 

employer’s contribution accounted for 

less than five (5) percent of the total. 

• Modify the instructions to permit 

(but not require) certain attachments to 

Schedule MB and SB to be provided in 

a tabular format (spreadsheet) rather 

than PDF or TXT formats. 

D. Appendices 

The Agencies have included the 

following appendices to provide more 

detailed illustrations and explanations 

of the proposed changes: (1) Appendix 

A—a facsimile of proposed Schedule 

MEP (Multiple Employer Pension Plan) 

and its instructions; (2) Appendix B—a 

facsimile of proposed Schedule DCG 

(Individual Plan Information) and its 

instructions; (3) Appendix C—a detailed 

description of proposed changes to the 

2021 Form 5500, the Form 5500–SF, 

and their instructions; (4) Appendix D— 

a detailed description of proposed 

changes to the 2022 Form M–1 and its 

instructions; (5) Appendix E—a detailed 

description of proposed changes to the 

2022 Form 5500, Form 5500–SF, 

applicable schedules, and their 

instructions.19

Certain amendments to the annual 

reporting regulations are necessary to 

accommodate some of the proposed 

revisions to the forms. The DOL is 

publishing separately today in the 

Federal Register proposed amendments 

to the DOL’s annual reporting 

regulations. That document includes a 

discussion of the findings required 

under sections 104 and 110 of ERISA 

that are necessary for the DOL to adopt 

the Form 5500 Annual Return/Report, 

including the Form 5500–SF, if revised 

as proposed herein, as an alternative 

method of compliance, limited 

exemption, and/or simplified report 

under the reporting and disclosure 

requirements of Part 1 of Subtitle B of 

Title I of ERISA. 

II. Request for Comments 

The Agencies invite comments from 

interested persons on all facets of the 

proposed forms and instruction 

changes. Comments should be 

submitted in accordance with the 

instructions at the beginning of this 

document. Commenters are asked to 

take into account the costs and burdens 

to plans, participants and beneficiaries, 

plan fiduciaries, plan service providers, 

and other affected parties, in 

commenting on the proposed annual 

reporting changes, including any 

suggested alternatives. 

As noted above, the DOL also is 

publishing elsewhere in today’s Federal 

Register a Notice of Proposed 

Rulemaking with proposed amendments 

to the reporting and disclosure 

regulations at Part 2520 of Chapter XXV 

of Title 29 of the Code of Federal 

Regulations to implement certain 

proposed Form 5500 Annual Return/ 

Report changes under Title I of ERISA. 

To avoid unnecessary duplication of 

effort, public comments submitted in 

response to this Notice of Proposed 

Forms Revisions will be treated as 

public comments on the Notice of 

Proposed Rulemaking to the extent they 

include information relevant to the 

proposed regulatory amendments. 

The DOL components of this proposal 

are generally focused on implementing 

annual reporting changes related to the 

SECURE Act and MEPs and a limited 

number of other supporting proposed 

changes intended to ensure the Form 

5500 serves as an appropriate 

transparency and financial 

accountability tool for retirement plans, 

including pooled employer plans and 

MEPs. The DOL has added a separate 

project to its semi-annual regulatory 

agenda that would focus on a broader 

range of improvements to the Form 5500 

annual reporting requirements. The 

regulatory action is part of a strategic 

project with the IRS and PBGC to 

improve the Form 5500 Annual Return/ 

Report. Modernizing the financial and 

other annual reporting requirements on 

the Form 5500, continuing to make the 

investment and other information on the 

Form 5500 more data mineable, and 

potential changes to group health plan 

annual reporting requirements are part 

of that evaluation. The project is also 

focused on enhancing the agencies’ 

ability to collect employee benefit plan 

data that best meets the needs of 

changing compliance projects, 

programs, and activities. See 

www.reginfo.gov for more information. 

Public comments on such broader 

improvements to the Title I components 

of the Form 5500 are beyond the 

intended scope of this rulemaking. 

III. Discussion of Proposed Changes 

A. SECURE Act Section 202 Defined 

Contribution Group (DCG) Reporting 

Arrangements 

Section 202 of the SECURE Act 

directs the Secretaries to modify the 

Form 5500 to allow certain groups of 

defined contribution pension plans to 

file a single consolidated annual return/ 

report. For a group of plans to be able 

to file a consolidated return/report, the 

SECURE Act provides that all of the 

plans must be either individual account 

plans or defined contribution pension 

plans that have the same trustee; the 

same one or more named fiduciaries; the 

same plan administrator under ERISA 

and the Code; the same plan year; and 

provide the same investments or 

investment options for participants and 

beneficiaries. 

The SECURE Act also provides that in 

developing the consolidated return or 

report for such arrangements, the 

Secretaries shall require such 

information as will enable a participant 

in a plan to identify any consolidated 

return or report filed with respect to the 

plan, and may require such return or 

report to include any information 

regarding each plan in the group as each 

Secretary determines is necessary or 

appropriate for the enforcement and 

administration of the provisions of 

ERISA and the Code. 

Pursuant to Section 202 of the 

SECURE Act directing the Secretaries to 

modify the Form 5500 to allow certain 

groups of defined contribution pension 

plans to file a single consolidated 

annual return/report, the DOL and the 

IRS (the ‘‘Departments’’) have 

determined that an efficient and 

effective approach to establishing such 

a consolidated return/report option 

would be to amend the Form 5500 and 

its related instructions to provide that 

the filing requirements for large pension 

plans and direct filing entities (DFEs) 


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20The proposed new regulation that would be at 

29 CFR 2520.104a–9 published in the parallel 

NPRM provides that, as would be the case for all 

of the participating plans in the DCG reporting 

arrangement if they were filing individually, the 

aggregated Form 5500 for the DCG is due no later 

than the end of the 7th month after the end of the 

common plan year that all the plans must have in 

order to participate in a DCG reporting arrangement 

pursuant to the requirement in section 202 of the 

SECURE Act and the proposed regulation that 

would be at 29 CFR 2520.104–51. Because the DCG 

filing is an alternative to each participating plan 

filing its own Form 5500, that would mean that 

each plan would have to submit its own IRS Form 

5558 to extend the plan’s due date, and, as a 

consequence, extend the due date for the DCG 

filing. A plan that did not submit a timely Form 

5558 and that participated in a DCG filing that was 

submitted after the 7th month normal due date 

would be treated as having filed late. Public 

comments are specifically solicited on how the 

filing extension process should be structured for 

DCGs, including whether DCG reporting 

arrangements should be able to file a single Form 

5558 to obtain an extension for filing the DCG 

consolidated report on behalf of the participating 

plans as an alternative to having each individual 

plan file a Form 5558 for there to be an extension 

for the reporting group as a whole. The Departments 

note that under the somewhat similar consolidated 

reporting provisions applicable to GIAs, the GIA is 

permitted to use the Form 5558 to apply for an 

extension of time the GIA consolidated report on 

behalf of the plans participating in the GIA. 

21See www.irs.gov/retirement-plans/types-of-preapproved-retirement-plans. 

would generally apply to this new type 

of DFE—a defined contribution group 

(DCG) reporting arrangement, except 

that an additional schedule to report 

individual plan level information—the 

proposed Schedule DCG, would have to 

be attached for each plan included in 

the DCG filing.20 Consistent with 

section 202(b) of the SECURE Act, as 

discussed in more detail below, the 

Departments are proposing to obtain for 

each plan in the DCG the additional 

information requested on a new 

proposed Schedule DCG, and are 

proposing certain other key conditions 

for DCG reporting arrangements that are 

intended to ensure appropriate 

transparency and financial 

accountability. Specifically, under the 

proposal: (1) The DCG would file a 

Form 5500 under rules and conditions 

that apply generally to large defined 

contribution pension plans; (2) each of 

the plans participating in the DCG 

would need to meet certain conditions 

as discussed in more detail below, 

including that the participating plan 

must not hold any employer securities, 

be 100% invested in certain secure, easy 

to value assets that meet the definition 

of ‘‘eligible plan assets’’ and be audited 

by an IQPA or be eligible for the waiver 

of the annual examination and report of 

an IQPA under 29 CFR 2520.104–46, but 

not by reason of enhanced bonding; (3) 

the DCG’s Form 5500 would have to 

provide the plan level information 

reported on the proposed Schedule DCG 

regarding the covered plans, including 

an IQPA audit report for each 

participating large plan; and (4) the 

investment assets of the plans 

participating in the DCG would have to 

be held in a single trust of the DCG 

reporting arrangement and the 

consolidated Form 5500 filed by the 

DCG would include an audit of the 

DCG’s trust financial statements. 

An important aspect of the audit of 

the DCG trust would be that, in the 

DOL’s view, the versions of the separate 

schedules referenced in ERISA section 

103(a)(3)(A) and 29 CFR 2520.103–10(b) 

and proposed 2520.103–14(b) that 

would be filed as part of the DCG 

consolidated Form 5500 would be 

treated as ERISA section 103(b)(3) 

supplemental schedules for purposes of 

the required IQPA’s opinion on whether 

those schedules are presented in 

conformity with DOL rules and 

regulations, including the delinquent 

participant contributions schedule filed 

by the DCG in connection with line 4a 

of its Form 5500, Schedule H. The DOL 

views these conditions as providing 

important financial accountability and 

oversight protections while also 

allowing DCGs to offer annual reporting 

cost-efficiencies, particularly for the 

small plans that we believe SECURE Act 

section 202 was intended to benefit, that 

are comparable to those that can be 

offered by MEPs, including pooled 

employer plans. 

The DOL is also publishing a separate 

Notice of Proposed Rulemaking that 

includes a proposal to add new 

regulations at 29 CFR 2520.103–14 and 

2520.104–51 pursuant to section 110 of 

ERISA that would set forth this DCG 

option as an alternative method of 

compliance for eligible plans with the 

generally applicable requirement to file 

their own separate Form 5500. 

1. General Section 202 Conditions 

Applicable to Covered Plans 

The Departments’ review of the 

conditions in section 202 of the 

SECURE Act suggests that it was 

primarily aimed at plans of unrelated 

small businesses that adopt a plan that 

has received approval from the IRS as to 

its form through the IRS Pre-Approved 

Program (pre-approved plan) offered by 

the same provider, and that section 202 

was intended to provide this type of 

business structure with annual reporting 

cost efficiencies similar to those that 

MEPs and pooled employer plans can 

offer to their participating employers. 

Accordingly the conditions and 

reporting requirements in this proposal 

focus on such arrangements. The 

Departments solicit public comments on 

whether the final rule should include 

other or different conditions for DCG 

reporting arrangements. 

Under the proposed Form 5500 form 

changes and the DOL’s related proposed 

regulation, and pursuant to the terms of 

section 202 of the SECURE Act, all of 

the plans relying on the DCG 

consolidated return/report must be 

individual account plans or defined 

contribution pension plans that have the 

same trustee and trust(s); the same one 

or more named fiduciaries; the same 

plan administrator under ERISA and the 

Code; the same plan year; and provide 

the same investments or investment 

options for participants and 

beneficiaries. The Departments are 

providing the following explanations of 

some aspects of and limitations related 

to those conditions that are part of the 

proposal. 

With respect to the same trustee 

requirement, section 403(a) of ERISA 

provides that, except as provided in 

ERISA section 403(b), all assets of an 

employee benefit plan shall be held in 

trust by one or more trustees. The 

criteria set forth in ERISA section 403(b) 

apply to the DCG trustee under the 

proposal, except, pursuant to the 

SECURE Act provision there must be 

only one trustee for all the plans 

participating in a DCG reporting 

arrangement. The common trustee must 

be either named in the trust instrument 

or in the plan instrument or appointed 

by a person who is a named fiduciary 

of the participating plan, and upon 

acceptance of being named or 

appointed, the trustee shall have 

exclusive authority and discretion to 

manage and control the assets of the 

plan, except to the extent that the plan 

expressly provides that the trustee is 

subject to the direction of a named 

fiduciary who is not a trustee (in which 

case the trustees shall be subject to 

proper directions of such fiduciary 

which are made in accordance with the 

terms of the plan and which are not 

contrary to ERISA), or authority to 

manage, acquire, or dispose of assets of 

the plan is delegated to one or more 

investment managers pursuant to 

section 402(c)(3) of ERISA. 

The Departments note that, 

historically, the IRS conditions 

applicable to many pre-approved plans 

required that employers who used what 

was known as a ‘‘master’’ plan were 

required to use the same trust or 

custodial account, whereas each 

employer had a separate trust or 

custodial account in a ‘‘prototype 

plan.’’ 21 Under the proposal, the ‘‘same 

trust’’ requirement for the consolidated 

report would be satisfied by the same 

trust structure historically used by 


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51494 Federal Register / Vol. 86, No. 176 / Wednesday, September 15, 2021 / Proposed Rules 

employers using ‘‘master’’ plans. Use of 

sub-trusts of the DCG trust would be 

permitted, but the proposal would not 

cover arrangements that allow separate 

plans to have a separate trust for 

investments. As discussed in more 

detail below, part of the reason for this 

provision stems from considerations 

related to the establishment of audit 

requirements for DCG reporting 

arrangements and the otherwise 

generally applicable requirement under 

Title I of ERISA for plans that cover 100 

or more participants file with their Form 

5500 an audit report of an independent 

qualified public accountant (IQPA) and 

the application of Generally Accepted 

Auditing Standards or GAAS (which 

ERISA section 103 applies to employee 

benefit plan audits). 

Although, as described above, section 

202 of the SECURE Act includes a 

requirement that the eligible plans must 

have the same ‘‘trustee’’ as described in 

section 403(a) of ERISA, the 

Departments note that it is 

commonplace for ERISA covered plans 

to use insurance (e.g., individual 

account plans using variable annuity 

structures and Code section 403(b)(1) 

plans) and custodial accounts (e.g., 

Code section 403(b)(7) plans) as funding 

vehicles. ERISA section 403(b) includes 

explicit exceptions to the trust 

requirement for such plan designs. 

There is no legislative history for 

SECURE Act section 202 discussing 

why the provision was limited to plans 

with ‘‘trustees,’’ and the Departments do 

not believe that the SECURE Act section 

202 requirement for a ‘‘trustee’’ can be 

read to include plans without trustees 

funded by insurance or custodial 

accounts pursuant to the trust 

exceptions in ERISA section 403(b). 

Nonetheless, the Departments 

specifically solicit comments on 

whether they should, pursuant to their 

general regulatory authority, provide a 

consolidated reporting option for plans 

that use the same custodial account or 

insurance policy as the funding vehicle 

for their plans, and if so, whether 

special conditions should apply in light 

of the absence of a trustee or trustees. 

With respect to the ‘‘same one or more 

named fiduciaries requirement,’’ ERISA 

section 402 provides that every 

employee benefit plan shall be 

established and maintained pursuant to 

a written instrument. Such instrument 

shall provide for one or more named 

fiduciaries who jointly or severally have 

authority to control and manage the 

operation and administration of the 

plan. Section 402 of ERISA further 

provides that the term ‘‘named 

fiduciary’’ means a fiduciary who is 

named in the plan instrument, or who, 

pursuant to a procedure specified in the 

plan, is identified as a fiduciary (A) by 

a person who is an employer or 

employee organization with respect to 

the plan or (B) by such an employer and 

such an employee organization acting 

jointly. The Departments understand 

that it is customary for the employer/ 

plan sponsor to be a named fiduciary of 

the employer’s plan. The Departments 

do not believe the SECURE Act 

intended that each employer in a group 

of plans be a named fiduciary of every 

plan in the group. Accordingly, the 

proposal would allow for the employer/ 

plan sponsor to be a named fiduciary of 

each employer’s own plan, provided 

that the other named fiduciaries under 

the plans are the same and common to 

all plans. 

The SECURE Act further requires that 

all the plans have the same 

administrator as defined in section 

3(16)(A) of ERISA and plan 

administrator as defined in section 

414(g) of the Code. Under the proposal, 

the plans must designate the same 

person (which could be an entity or 

organization) as the administrator. In 

general, under ERISA and the Code the 

‘‘plan administrator’’ or ‘‘administrator’’ 

is the person specifically so designated 

by the terms of the instrument under 

which the plan is operated. If an 

administrator is not so designated, the 

plan administrator is the plan sponsor, 

as defined in section 3(16)(B) of ERISA. 

The Departments do not believe that the 

default ‘‘plan sponsor’’ provision is 

workable in this context, and, 

accordingly, the proposal requires that 

there be a designated common plan 

administrator and that the administrator 

be the same for all the plans relying on 

the DCG consolidated Form 5500. 

The proposal also requires that all the 

plans provide the same investments or 

investment options to participants and 

beneficiaries to be able to rely on the 

DCG consolidated Form 5500 as 

satisfying their annual reporting 

obligation. In the Departments’ view, 

this requirement in part was intended to 

allow for appropriate transparency in 

the consolidated financial information 

that would be filed by the DCG. To the 

extent the covered plans had different 

investments or investment options, 

much more detailed financial reporting 

would be needed to provide appropriate 

oversight and accountability. The 

Departments also believe that, even 

absent the proposed ‘‘eligible plan 

assets condition for DCGs,’’ the SECURE 

Act’s ‘‘same investments or investment 

options’’ requirement effectively 

precludes plans that hold employer 

securities from participating in a DCG 

reporting arrangement as well as 

precluding treatment of brokerage 

windows as an ‘‘investment option’’ 

because such investments and 

investment alternatives would conflict 

with the investment uniformity 

objectives of the SECURE Act 

requirement. The Departments, 

however, specifically solicit comments 

on whether the final rule should allow 

employer securities as an exception to 

the ‘‘same investments or investment 

options’’ requirement. The Departments 

also solicit comments on whether the 

final rule should allow brokerage 

windows, self-directed brokerage 

accounts, and similar features in plans 

participating in DCG arrangements, and, 

if so, what reporting requirements 

should be applied, e.g., what 

information should be collected 

regarding the brokerage windows/ 

accounts, the participants using the 

brokerage windows/accounts, and the 

individual assets held by the plans as a 

result of investments made through 

brokerage windows/accounts. 

Section 202 further provides that a 

plan not subject to Title I of ERISA can 

be part of a DCG reporting arrangement 

if the non-Title I plan and all other 

plans in the reporting group have the 

same persons acting as the trustee as 

defined in ERISA section 403(a), the 

named fiduciaries as described in 

ERISA section 402(a), the administrator 

as defined in ERISA section 3(16)(A), 

and the plan administrator as defined in 

Code section 414(g), as applicable. In 

the Departments’ view, this provision 

was directed at so-called ‘‘oneparticipant’’ plans required to file the 

IRS Form 5500–EZ. IRS views the 

current Form 5500–EZ as providing 

plan sponsors with a simple and 

streamlined means to satisfy the annual 

reporting requirement under section 

6058 of the Code. The information being 

requested on the Schedule DCG for a 

DCG is almost identical to the 

information already provided on the 

Form 5500–EZ, so that the group filing 

arrangement would not effectively 

reduce the information a Form 5500–EZ 

filer would need to provide to IRS in a 

separate filing. Additionally, the plan 

administrator will need to file a 

consolidated Form 5500 (with any 

required schedules) for the DCG that 

provides aggregate information for all 

Form 5500–EZ filers. Presumably, the 

DCG will require a Form 5500–EZ filer 

to provide at least as much information 

as would be required to file an 

individual Form 5500–EZ. Finally, IRS 

might incur significant costs and use 

significant resources if it were to 

develop a separate group filing 

arrangement for Form 5500–EZ filers. 


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Before incurring these costs and using 

these resources, IRS requests comments 

from interested parties on whether Form 

5500–EZ filers are expected to be 

interested in participating in a DCG 

structure, including a separate DCG 

structure only for Form 5500–EZ filers, 

in light of the lack of burden reduction 

that a Form 5500–EZ filer would 

experience by participating in a DCG 

structure. With respect to the latter, the 

Departments request comments on the 

feasibility of including both ERISA and 

non-ERISA filers in a single DCG filing, 

including with respect to the 

application of the audit requirements 

under Title I. 

2. Conditions for Plans To Participate in 

a DCG Reporting Arrangement 

To be eligible to rely on the proposed 

alternative method of compliance, the 

employee benefit plan (1) must have all 

of its investment assets held in a single 

trust of the DCG reporting arrangement; 

(2) the plan must not hold any employer 

securities at any time during the plan 

year; (3) at all times during the plan 

year, the plan must be 100% invested in 

certain secure, easy to value assets that 

meet the definition of ‘‘eligible plan 

assets’’ (see the instructions for line 6a 

of the Form 5500–SF), such as mutual 

fund shares, investment contracts with 

insurance companies and banks valued 

at least annually, publicly traded 

securities held by a registered broker 

dealer, cash and cash equivalents, and 

plan loans to participants; (4) the plan 

must be audited by an IQPA or be 

eligible for the waiver of the annual 

examination and report of an IQPA 

under 29 CFR 2520.104–46, but not by 

reason of enhanced bonding (see 

instructions for line 6b of the Form 

5500–SF); and (5) multiemployer plans 

and MEPs (including pooled employer 

plans and professional employer 

organizations (PEOs)) cannot participate 

in DCG reporting arrangements. 

An important aspect of the audit of 

the DCG trust would be that, in the 

DOL’s view, the versions of the separate 

schedules referenced in ERISA section 

103(a)(3)(A) and 29 CFR 2520.103–10(b) 

and 2520.103–2(b) that would be filed 

as part of the DCG consolidated Form 

5500 would be treated as ERISA section 

103(b)(3) supplemental schedules for 

purposes of the required IQPA’s opinion 

on whether those schedules are 

presented in conformity with DOL rules 

and regulations, including the 

delinquent participant contributions 

schedule filed by the DCG in connection 

with line 4a of its Form 5500, Schedule 

H. The DOL views these conditions as 

providing important financial 

accountability and oversight protections 

while also allowing DCGs to offer 

annual reporting cost-efficiencies, 

particularly for the small plans that we 

believe SECURE Act section 202 was 

intended to benefit, that are comparable 

to those that can be offered by MEPs, 

including pooled employer plans. 

With respect to the audit requirement 

for large plans participating in a DCG, 

the DOL understands that under GAAS, 

it would not be possible to have a 

consolidated audit of all the 

participating plans in the DCG reporting 

arrangement. Rather, under GAAS, each 

large plan in the DCG reporting 

arrangement would have to be subject to 

its own separate audit. By comparison it 

would be possible, under GAAS, for a 

DCG reporting arrangement to be 

subjected to a single audit if it used a 

single trust for all of the plans covered 

by the DCG report. Such a ‘‘single trust’’ 

audit, however, would cover only the 

trust’s financial statements and would 

not cover aspects of plan operations and 

finances that would be covered by a 

GAAS audit at the plan level. The DOL 

views an IQPA audit as an important 

financial transparency and 

accountability condition for DCG 

reporting arrangements. Generally, 

pension plans and funded welfare plans 

with 100 or more participants are 

required to have an audit of the plan’s 

financial statements performed by an 

IQPA. Under Statement on Auditing 

Standards No. 136 (SAS 136), Forming 

an Opinion and Reporting on Financial 

Statements of Employee Benefit Plans 

Subject to ERISA, independent qualified 

public accountants are required to 

consider relevant plan provisions that 

affect the risk of material misstatement 

for various transactions, account 

balances, and related disclosures. Areas 

such as participant eligibility, plan 

contributions, benefit payments and 

participant loans are all covered as part 

of a plan level audit. Additionally, 

auditors are required to communicate 

reportable findings to the plan that are 

identified during the audit of the plan. 

For example, it has been the DOL’s 

experience that plan audits lead to 

increased reporting of prohibited 

transactions, such as identifying and 

disclosing delinquent participant 

contributions. 

An audit of a trust, such as a DCG 

trust, does not have similar 

requirements. In a trust audit, the line 

items on the trust’s financial statement 

are audited, but because the underlying 

participating plans themselves are not 

audited, compliance with the provisions 

of the plans that are invested in and 

funded by the trust are not audited. 

Therefore, in a trust audit, the amount 

of contributions received by the trust 

might be tested against the contributions 

remitted by participating plans, but, 

whether those contributions amounts 

remitted are in accordance with the 

individual plan provisions would not be 

tested, as they would be tested in an 

audit of the plan. There could be 

undisclosed, material errors in the 

amount of contributions remitted to the 

trust versus what should have been 

remitted. Similarly, in a trust audit, the 

benefit payments to participants might 

be tested in terms of amounts paid and 

whether they were authorized, but 

whether those were in compliance with 

plan provisions, such as vesting 

provisions, would not be tested as they 

would be tested in a plan’s audit. In a 

plan audit, participant data is tested. 

Participant data testing involves 

determining whether employees are 

properly included or excluded from 

participating and whether the census 

data upon which eligibility for certain 

contributions and distributions are 

made is accurate. The audit of a trust 

would not test this at all. Finally, the 

materiality threshold for a trust audit 

could be significantly higher than that 

which would apply in the case of an 

individual participating plan because 

the trust threshold would be based on 

total assets in the trust rather than assets 

in each individual plan. After carefully 

considering these issues, the 

Departments decided to propose that a 

large plan that elects to participate in a 

DCG must continue to be subject to an 

IQPA audit and that the audit report for 

the plan would have to be filed with the 

consolidated Form 5500 of the DCG 

reporting arrangement. 

The DOL acknowledges that at least 

some of these considerations could be 

applied to small plans participating in 

the DGC arrangement. While the DOL 

did not believe it would be appropriate 

to relieve from the IQPA audit 

requirement those large plans currently 

subject to the audit, it also did not 

believe that it would be appropriate to 

require small plans that are not 

currently required to have an IQPA 

audit to have such an audit as a 

condition of participating in a DCG 

reporting arrangement. Rather, in light 

of the fact that DCG reporting 

arrangements would be consolidating 

the assets of many unaffiliated small 

plans under the control of a single 

trustee in a single trust, and the DOL’s 

understanding that such a trust could be 

subject to a single GAAS audit, the DOL 

is proposing that the DCG trust be 

audited by an IQPA as a way of adding 

protections for funds aggregated in the 

DCG trust. The DOL notes that this 

structure has some parallels to the 


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51496 Federal Register / Vol. 86, No. 176 / Wednesday, September 15, 2021 / Proposed Rules 

current reporting alternative for group 

insurance arrangements (GIAs) under 29 

CFR 2520.103–2, another type of DFE 

that files the Form 5500 Annual Return/ 

Report on behalf of participating welfare 

benefit plans. The need for more 

information for DCGs than for GIAs is 

due to the difference between retirement 

and welfare plans, including the 

respective requirements under the Code, 

and also due to the fact that GIAs must 

provide welfare benefits fully through 

insurance. 

DOL further acknowledges that, under 

the proposal, for plans to be able to 

satisfy their annual reporting obligation 

by relying on the Form 5500 filing by a 

DCG reporting arrangement, the plans 

would have to be 100% invested in 

eligible plan assets as defined in the 

Form 5500–SF instructions. 

Accordingly, plan assets in the DCG 

trust would, by definition, be held by 

regulated financial institutions, 

including banks or similar financial 

institutions and insurance companies, 

and may qualify for limited scope audit 

treatment in accordance with ERISA 

section 103(a)(3)(C). Thus, even for large 

plans, the investment assets certified by 

those financial institutions/insurance 

companies would not be audited, and 

the auditor would not be performing 

valuation work on the assets covered by 

the bank or insurance company 

certifications. Although that may 

diminish some aspects of the IQPA 

requirement for large plans in DCG 

reporting arrangements, the DOL did not 

believe that it would be appropriate to 

propose that large plans be precluded 

from participating in a DCG unless the 

plan disclaimed reliance on the limited 

scope audit provisions in ERISA section 

103(a)(3)(C) and had a full scope audit 

performed. 

The DOL further expects that, because 

all of the investments held in the DCG’s 

single trust would be the subject of the 

DCG audit, it is likely that to reduce 

expenses the DCG reporting 

arrangement and the participating large 

plans would engage the same auditor to 

perform the audits of the DCG trust and 

any individual large plans participating 

in the DCG reporting arrangement. 

Alternatively, to the extent the 

individual plans engage different 

auditors, the DOL expects that the use 

of reports issued under Statement on 

Standards for Attestation Engagements 

No. 16 (SSAE 16) may permit the 

individual plan auditors to use those 

reports for the DCG trust to reduce their 

own audit work on the trust as part of 

the individual plan audit. The same 

rules for determining whether an 

individual plan is required to file as a 

large plan would apply to the plans 

within a DCG, including the ‘‘80 to 120’’ 

transition rule at 29 CFR 2520.103–1(d). 

Similarly, if finalized, the proposed 

change on using participants with 

account balances, rather than all eligible 

participants, to determine small plan 

status for general annual reporting 

purposes also would apply. 

With respect to the condition 

prohibiting multiemployer plans and 

MEPs from being part of DCG reporting 

arrangements, the Departments do not 

believe that section 202 of the SECURE 

Act was focused on allowing groups of 

multiemployer plans or MEPs, which 

already file a single Form 5500 that 

covers all of the employers that 

participate in the plan, to file a single 

consolidated Form 5500 covering the 

group of multiemployer plans or MEPs. 

The Departments are also concerned 

that allowing a single consolidated 

Form 5500 in the case of such plans, for 

example, a group of multiemployer 

section 401(k) plans, could result in an 

undesirable reduction in transparency 

and financial accountability. Further, 

creating a consolidated report for such 

groups of plans would likely be much 

more complicated and costly than what 

is being proposed in this document. 

Nonetheless, the Departments 

acknowledge that such a limitation is 

not expressly set forth in section 202 of 

the SECURE Act, and, accordingly, 

solicits public comments on whether 

the final rule should include 

multiemployer plans and MEPs, and if 

so, what conditions should apply to 

DCG reporting arrangements that would 

include such plans. 

3. Content Requirements for DCG Form 

5500 

The proposal also sets forth the 

content requirements for the 

consolidated Form 5500 return/report 

filed by the DCG reporting arrangement. 

Under the proposal, DCGs would not be 

permitted to file a Form 5500–SF. 

Rather, DCG reporting arrangements 

would be required to file a Form 5500 

Annual Return/Report that includes 

largely the same information that large 

pension plans and other DFEs are 

generally required to file, except that a 

DCG reporting arrangement would also 

be required to include in its annual 

report a proposed Schedule DCG 

(described below) to report individual 

participating plan information for each 

plan that is a part of the DCG reporting 

arrangement. Specifically, the content of 

the DCG annual return/report would 

include a Form 5500 Annual Return/ 

Report of Employee Benefit Plan and 

any statements or schedules required to 

be attached to the form for such entity, 

completed in accordance with the 

instructions for the form, including 

Schedule A (Insurance Information), 

Schedule C (Service Provider 

Information), Schedule D (DFE/ 

Participating Plan Information), 

Schedule G (Financial Transaction 

Schedules), Schedule H (Financial 

Information), Schedule R (Retirement 

Plan Information), Schedule DCG 

(Individual Plan Information), schedules 

described in § 2520.103–10(b)(1) and 

(b)(2), an IQPA audit report and the 

related financial statements covering the 

DCG trust, and, for DCG consolidated 

Form 5500 filings that are intended to 

cover large plans (generally those with 

100 or more participants), an IQPA 

audit report and the related financial 

statements attached to the Schedule 

DCG for each such individual large 

plan. Financial statements include the 

financial statements of the trust, the 

notes to the financial statements and the 

schedules described in paragraph (b)(1) 

of § 2520.103–10. 

Information reported on the various 

schedules to the Form 5500, other than 

the proposed Schedule DCG, would be 

reported in the aggregate. Thus, a 

Schedule A would be required for all 

insurance contracts that constitute one 

of the investments or investment 

alternatives available to all of the 

participants in a plan, regardless of 

whether certificates were to be issued to 

individual plans or participants upon 

selection of that option by a participant. 

The fees and commissions paid with 

respect to any insurance contracts 

available for investment by any of the 

plans/participants would be reported on 

the Schedule A. Similarly, a service 

provider to the trust and to each of the 

plans would be reported on Schedule C, 

even if the service provider did not 

actually provide services or charge fees 

to a particular plan because, for 

example, the service provider provided 

investment management services with 

respect to a particular investment option 

that was not selected by any of the 

participants in a particular plan. The 

$5,000 threshold would be based on the 

total amount received by the service 

provider. Reporting on Schedule C 

would still be required if the total 

amount was $5,000 or more, even if the 

amount paid by or charged against the 

assets of each the participating plans 

was less than $5,000 per plan. 

Reportable transactions on Schedule G 

would include any involving the assets 

of the trust and any parties in interest 

with respect to the trust. For reporting 

delinquent participant contributions on 

Schedule H, Line 4a, the Agencies 

would expect the DCG filing the annual 

report to identify the delinquent 


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22Section III.A.1 of this preamble discusses the 

Departments’ view that creating a consolidated 

group filing for employers required to file a Form 

5500–EZ is similarly unlikely to generate 

administrative efficiencies for those employers, as 

compared to continuing to file separately. 

23Since the aggregate participant count of the 

entire DCG would be less than 100, there could be 

no ‘‘large plans’’ participating in such a ‘‘small’’ 

DCG so the issue of an individual audit for a 

participating large plan would not arise. 

24Public Law 113–97 (Apr. 7, 2014). 

25 79 FR 66617 (Nov. 10, 2014). 

26See, e.g., 2020 Form 5500 instructions at 14; see 

also 2020 Form 5500–SF instructions at 8–9. 

27 81 FR 47534, 47564–47565. 

participating employer in the 

attachment already required in the 

instructions. 

The Departments expect that cost 

savings for plans relying on a DCG filing 

compared to plans filing separately 

would generally only begin to emerge 

when the DCG collectively exceeds an 

aggregate participant count of 100 

participants. In other words, the 

Departments do not expect a DCG filing 

to provide meaningful cost savings for 

plans, as compared to filing their own 

annual report, in the case of DCG 

arrangements with an aggregate 

participant count of under 100 

participants. Rather, the Departments 

expect in such cases that the individual 

plans would likely qualify for filing the 

Form 5500–SF and that they would 

likely find it more cost effective to file 

their own separate Form 5500–SF.22

Accordingly, this proposal does not 

include an option under which such a 

‘‘small’’ DCG could file as a small plan 

filer. The Departments solicit comments 

on whether stakeholders expect there to 

be ‘‘small’’ DGCs, whether a ‘‘small’’ 

DCG alternative should be made 

available, and what the content 

requirements for such an alternative 

should be, e.g., whether the content of 

the ‘‘small’’ DCG annual return/report 

should include Schedule I instead of 

Schedule H, whether it should include 

the IQPA audit report and/or the 

schedules of assets, and whether it 

should include the Schedule C.23

4. Proposed Schedule DCG (Individual 

Plan Information) 

Section 202(b) of the SECURE Act 

specifically provides that IRS and DOL 

may require the consolidated Form 5500 

return/report filed by the DCG reporting 

arrangement to include any information 

regarding each plan in the group as IRS 

and DOL may determine necessary or 

appropriate for the enforcement and 

administration of the Code and ERISA. 

The proposed Schedule DCG would 

contain the plan level information 

needed by the IRS for administrating 

and enforcing tax laws passed by 

Congress and by the DOL for important 

Title I oversight functions, particularly 

with respect to large plans. A separate 

Schedule DCG would be required to be 

completed for each individual plan, 

similar to the requirement to complete 

a separate Schedule A for each 

insurance contract held by a plan or 

DFE filing the Form 5500. IRS examines 

individual plans, not groups of plans, to 

ensure that plan sponsors and/or 

employers comply with the tax laws 

governing retirement plans, and to help 

protect the retirement benefits of 

participants and beneficiaries. Thus, IRS 

requires information with respect to a 

plan’s qualification, financial condition, 

and operation on a separate basis for 

each plan filing as part of a DCG. 

Individual plan financial information 

already reported on the Form 5500–SF 

is important for the DOL to continue to 

ensure that participants and 

beneficiaries of the individual plans 

participating in a DCG receive their 

promised benefits. The proposed 

Schedule DCG includes: 

• Part I—DCG name and EIN/PN 

modeled on the similar plan-level 

information on other schedules to the 

Form 5500. Information in Part I must 

match the DCG information reported on 

Part II of the consolidated Form 5500. 

• Part II—confirmation that the plan 

for which the Schedule DCG is being 

filed is a single employer plan (as noted 

above, MEPs and multiemployer plans 

may not participate in a DCG under the 

proposal) and, if applicable, 

identification of the plan as a 

collectively bargained plan. 

• Part III—basic individual plan 

information, including the plan name, 

plan number, plan effective date, plan 

sponsor’s name and address, plan 

sponsor’s EIN, plan sponsor’s telephone 

number, plan sponsor’s business code, 

total number of participants, total 

number of active participants, number 

of participants with account balances, 

and number of participants who 

terminated employment during the plan 

year with accrued benefits that were less 

than 100% vested. 

• Part IV—plan financial information, 

including total plan assets (including 

participant loans), total plan liabilities, 

net plan assets, contributions received 

or receivable in cash from the employer, 

participants, and others; noncash 

contributions and, total contributions; 

benefit payments, corrective 

distributions, and certain deemed 

distributions of participant loans, direct 

expense information, net income, and 

assets transferred to (from) plans. 

• Part V—two-digit boxes for entry of 

all applicable codes in the List of Plan 

Characteristics Codes in the instructions 

to the Form 5500. 

• Part VI—compliance questions 

relating to delinquent participant 

contributions, plan assets/liabilities 

transferred from the plan, indication of 

whether the plan is a defined 

contribution plan subject to section 412 

of the Code, plan coverage and 

nondiscrimination information, and 

whether a plan is a pre-approved plan 

that received a favorable IRS Opinion 

Letter. 

• Part VII—questions for large plans 

(generally plans covering 100 or more 

participants as of the beginning of the 

plan year) regarding the required 

individual IQPA report and financial 

statements that must be filed with the 

Schedule DCG filed for the participating 

large plan. 

B. SECURE Act Section 101 Amendment 

to ERISA Section 103(g) Participating 

Employer Information 

1. Participating Employer Reporting 

Under ERISA Section 103(g) 

As discussed above, section 103(g) of 

ERISA, which was added to ERISA by 

the Cooperative and Small Employer 

Charity Pension Flexibility Act (CSEC 

Act) in 2014,24 requires multiple 

employer plans to include with their 

annual reports ‘‘a list of participating 

employers’’ and, with respect to each 

participating employer, ‘‘a good faith 

estimate of the percentage of total 

contributions made by such 

participating employers during the plan 

year.’’ The DOL issued an interim final 

rule on November 10, 2014, which 

implemented the section 103(g) 

reporting requirements by requiring 

filers that check the ‘‘multiple employer 

plan’’ box on the face of the Form 5500 

or the Form 5500–SF, and to attach a list 

of participating employers and a good 

faith estimate of the percentage of total 

contributions made by each 

participating employer during the plan 

year. 25 The 2014 interim final rule and 

the corresponding instructions further 

provided that unfunded or insured 

multiple employer welfare plans that 

are exempt under 29 CFR 2520.104–44 

from filing financial statements with 

their annual report must attach a list of 

participating employers, but do not have 

to include an estimated amount of 

contributions from each employer.26

Pursuant to the interim final rule, the 

section 103(g) reporting change became 

effective with the 2014 Form 5500 

Annual Return/Report forms. The 2016 

proposal on modernization of the Form 

5500 included a proposal to finalize 

these changes.27

The DOL received four comments on 

the interim final rule and six additional 


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28See Proposed Extension of Information 

Collection Request Submitted for Public Comment; 

Revisions to Annual Return/Report—Multiple 

Employer Plans, 79 FR 66741 (Nov. 10, 2014). 29Comments are available on the DOL’s website. 30 In 2019, the DOL issued Field Assistance 

Bulletin No. 2019–01, which provided transition 

relief for MEPs that failed to file a complete and 

accurate participating employer information with 

their Form 5500 Annual Return/Report for the 2017 

and prior plan years. 

comments in connection with the 

Paperwork Reduction Act (PRA) notice 

associated with the publication of the 

interim final rule.28 In addition, two 

comments on the 2016 proposal related 

to the proposal to finalize the 2014 

interim final rule.29 The central 

concerns of most of the commenters was 

that filing the participating employer 

list imposes material costs and burdens 

on multiple employer plans and that 

making the employer list public was not 

in the best interests of plan participants 

and beneficiaries. One commenter 

suggested that the DOL should not 

apply the section 103(g) reporting 

changes to defined contribution or 

welfare plans because ERISA section 

103(g) was added as part of the CSEC 

Act, which generally focused on ERISA 

minimum funding requirements that are 

not applicable for the majority of 

defined contribution pension plans or to 

any group health and welfare plans. In 

the 2016 proposed rule as well as in the 

Field Assistance Bulletin No. 2019– 

01,30 DOL stated its position that it 

believes the section 103(g) reporting 

requirements adopted by the 2014 

interim final rule, which apply the new 

requirements to all multiple employer 

plans (defined benefit pension plans, 

defined contribution plans, and welfare 

plans), are a reasonable and appropriate 

way to implement Congress’ directive in 

the CSEC Act. The information has 

proven useful to the DOL for its 

oversight functions for both MEPs and 

those MEWAs that file the Form 5500, 

regardless of the types of benefits 

provided by the MEWA. Before the DOL 

finalized the section 103(g) reporting 

requirements, the SECURE Act was 

enacted, which amended the original 

language in ERISA section 103(g), 

reaffirming that MEPs, including 

association retirement plans, PEOs, and 

the newly created pooled employer 

plans would have to report not just the 

existing identifying information, but 

also new financial information. 

Specifically, section 101 of the 

SECURE Act amended ERISA section 

103(g) by providing that annual reports 

for ‘‘any plan to which [ERISA] section 

210(a) applies (including a pooled 

employer plan)’’ must include (1) a list 

of participating employers in the plan, 

a good faith estimate of the percentage 

of total contributions made by such 

participating employers during the plan 

year, and the aggregate account balances 

attributable to each employer in the 

plan (determined as the sum of the 

account balances of the employees of 

such employer (and the beneficiaries of 

such employees)); and (2) with respect 

to a pooled employer plan, identifying 

information for the person designated 

under the terms of the plan as the 

pooled plan provider. Although the 

SECURE Act added a specific reference 

to ERISA section 210(a), DOL believes 

that this reference was meant to 

emphasize that defined contribution 

multiple employer pension plans and 

different types of MEPs that became 

more accessible in recent years, such as 

association retirement plans, 

professional employer organization 

plans (PEOs), and the newly created 

pooled employer plan are required to 

comply with the participating 

employers reporting requirements, and 

not just defined benefit pension plans. 

The SECURE Act reporting changes 

are effective for plan years beginning on 

or after January 1, 2021. In order to 

implement the SECURE Act reporting 

requirements on a timely basis, the 

Agencies are proposing that, for the 

2021 plan year, MEPs (including pooled 

employer plans, association retirement 

plans, and PEOs) would be required to 

provide the participating employer 

information as a nonstandard 

attachment to the 2021 Form 5500 

Annual Return/Report in a similar 

manner as currently required, and the 

content of the attachment would be 

updated to add the aggregate account 

balances attributable to each 

participating employer in the plan to the 

current requirement to provide 

identifying information and the percent 

of contributions by each participating 

employer. In addition, a MEP that is a 

pooled employer plan would be 

required to indicate on the nonstandard 

attachment for 2021 that it is a pooled 

employer plan and provide information 

similar to information required to be 

reported on a proposed Schedule MEP, 

as discussed below, for the 2022 and 

following plan years, including 

confirming that the entity identified as 

the plan sponsor and administrator in 

Part I of the Form 5500 is the pooled 

plan provider, and providing the ACK 

ID for the pooled plan provider’s most 

recent Form PR. For the 2022 and 

following plan years, MEPs would be 

required to report the participating 

employer information in a standard 

format on a proposed new Schedule 

MEP, as discussed below. 

2. Participating Employer Reporting for 

MEWAs 

As discussed above, the SECURE Act 

amended ERISA section 103(g) by 

directing the reporting requirements 

specifically to multiple employer plans 

subject to ERISA section 210(a). The 

DOL continues to believe that receiving 

participating employer information from 

multiple employer welfare plans is 

important for oversight of such 

arrangements and should be continued. 

Even though the DOL originally relied 

on ERISA section 103(g) when it added 

the requirement for all multiple 

employer plans to provide the 

participating employer information, 

there are other rulemaking and reporting 

authorities that support continuing the 

reporting requirement for multiple 

employer welfare plans and extending it 

to non-plan MEWAs that file the Form 

M–1 (Report for Multiple Employer 

Welfare Arrangements (MEWAs) and 

Certain Other Entities Claiming 

Exception (ECEs) (Form M–1). 

Based on the authority in ERISA 

sections 101(g), 505, and 734, the DOL 

in 2003 promulgated a regulation at 29 

CFR 2520.101–2 that required the 

administrators of both multiple 

employer welfare plans and non-plan 

MEWAs that offer or provide coverage 

for medical benefits to file the Form 

M–1 on an annual basis (Form M–1 

annual report) as well as upon 

occurrence of certain registration events 

(Form M–1 registration filing). Effective 

for plan years beginning on or after 

January 1, 2022, DOL is proposing to 

require MEWAs (plan and non-plan 

MEWAs) that offer or provide coverage 

for medical benefits to provide the 

participating employer information on 

the Form M–1 and not as an attachment 

to the Form 5500 Annual Return/Report. 

Specifically, new questions would be 

added to Form M–1 requiring MEWAs 

(plan and non-plan MEWAs) that offer 

or provide coverage for medical benefits 

to identify each participating employer 

in the MEWA by name and EIN and 

provide a good faith estimate of each 

participating employer’s percentage of 

the total contributions made by all 

participating employer during the plan 

year. However, similar to the 2014 

interim final rule issued under ERISA 

section 103(g), the Form M–1 proposal 

does not require contribution 

information from unfunded or insured 

MEWAs. Furthermore, the Form M–1 

proposal would require contribution 

information on the Form M–1 annual 

report filing but not the Form M–1 

registration filing. The DOL specifically 

solicits comments on whether the final 

rule should require participating 


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31See Advisory Opinion Letter 2007–06A (Aug. 

16, 2007) (‘‘decisions regarding the method through 

which benefits are to be paid under an employee 

welfare benefit plan, including the selection of an 

insurer and the negotiation of the terms of any 

contractual arrangement obligating the plan, are 

matters that generally are subject to the fiduciary 

responsibility provisions of Title I of ERISA’’.); 

Information Letter to Diana Ceresi (Feb. 2, 1998) 

(‘‘when the selection of a health care provider 

involves the disposition of employee benefit plan 

assets, such selection is an exercise of authority or 

control with respect to the management and 

disposition of the plan’s assets within the meaning 

of section 3(21) of ERISA, and thus constitutes a 

fiduciary act . . .’’); See also Advisory Opinion 

Letter 2018–01A (Nov. 5, 2018) (In the context of 

a pension plan rollover service provider, not 

covered by Title 1 of ERISA, ‘‘When plan sponsors 

or other responsible fiduciaries choose to have a 

plan participate in the RCH Program, they are acting 

in a fiduciary capacity, and would be subject to the 

general fiduciary standards and prohibited 

transaction provisions of ERISA in selecting and 

monitoring the RCH Program.’’) 

32Similar to the 2014 interim final rule issued 

under ERISA section 103(g), such multiple 

employer welfare plans that are unfunded or 

insured and exempt under 29 CFR 2520.104–44 

from filing financial statements with their annual 

report will continue to be required to attach a list 

of participating employers, but do not have to 

include the contribution information. See, e.g., 2020 

Form 5500 instructions at 14; see also 2020 Form 

5500–SF instructions at 8–9. 

33Multiemployer defined pension benefit plans 

are required to provide, on Form 5500, Schedule R 

(Retirement Plan Information), identifying 

information and the percentage of contributions for 

those plans that are five percent or more 

contributors for the plan year being reported. 

34As discussed above, MEWAs would report the 

participating employer information either as an 

attachment to the Form 5500 or on the Form 

M–1. 

35The total contributions are the amount reported 

on Form 5500, Schedule H, line 2(a)(3) or the total 

of lines 8a(1), 8a(2), and 8a(3) on the Form 5500– 

SF. 

36See Form PR and its instructions, available at 

www.efast.dol.gov. 

employer information on only the 

annual Form M–1 filing, and not on 

other M–1 required filings, in light of 

the fact that only annual information is 

required for plans reporting 

participating employer information on 

the Form 5500. 

With respect to multiple employer 

welfare plans that do not offer or 

provide coverage for medical benefits, 

and thus are not required to file a Form 

M–1 (for example, life or disability 

benefits), section 103 of ERISA provides 

the DOL with the authority to require 

the plan administrator to furnish, as part 

of the Form 5500 annual report, the 

‘‘name and address of each fiduciary.’’ 

See ERISA section 103(c)(2). In the 

DOL’s view, the employer is acting as a 

fiduciary with respect to its decision to 

provide ERISA-covered benefits through 

a MEWA rather than through a single 

employer plan and also is a fiduciary for 

purposes of continuing to monitor the 

plan that it adopted.31 Accordingly, the 

DOL is relying on ERISA section 

103(c)(2) as its authority for requiring 

multiple employer welfare plans (other 

than those that file the Form M–1) to 

continue reporting the participating 

employer identifying information, and 

unless unfunded or insured, a good faith 

estimate of each participating 

employer’s percentage of the total 

contributions made by all participating 

employer during the plan year.32 As is 

currently required for such plans, the 

information would continue to be filed 

as an attachment to the Form 5500 

Annual Return/Report. MEWAs, 

however, whether those reporting on the 

Form 5500/Form 5500–SF or the Form 

M–1, would not be required to provide 

the new aggregate account balances 

information that was added by the 

SECURE Act to section 103(g). 

For the 2021 plan year, pending the 

implementation of the Form M–1 

changes, all plan MEWAs would 

continue to provide participating 

employer information as a nonstandard 

attachment to the 2021 Form 5500 

Annual Return/Report in a similar 

manner as currently required. 

The proposal, by transferring the 

participating employer information from 

the Form 5500 Annual Return/Report to 

the Form M–1 for MEWAs that offer or 

provide coverage for medical benefits 

and continuing to require reporting of 

participating employer information on 

the Form 5500 Annual Return/Report 

for plan MEWAs that provide other 

benefits, would enable the DOL to 

receive such information from both plan 

and non-plan MEWAs, regardless of 

how they are funded or structured. The 

DOL and other users of the Form M–1 

data (e.g., state insurance regulators) 

would have access to updated and 

current lists of participating employers 

because the Form M–1 must be filed 

annually as well as upon the occurrence 

of certain registration events (30 days 

prior to MEWAs operating in any state 

or expanding their operations into an 

additional state; and within 30 days of 

a merger, material change, or a 

participant increase of 50% or more). 

C. Proposed Form 5500-Schedule MEP 

(Multiple Employer Pension Plan 

Information) and Requirement That 

MEPs (Including Pooled Employer 

Plans) File the Form 5500 and not the 

Form 5500–SF 

The proposal would add a new 

Schedule MEP (Multiple Employer 

Pension Plan Information) to the Form 

5500 Annual Return/Report that would 

be completed by MEPs. The proposal 

also would add a limited number of 

additional data items elsewhere on the 

Form 5500 relevant to MEPs. The 

proposed Schedule MEP would provide 

a unified vehicle to report information 

related to new SECURE Act provisions, 

including information unique to MEPs. 

The first section, Part I, like the other 

schedules to the Form 5500, would 

require filers to enter identifying 

information (which must match the 

information entered on the Form 5500) 

and to indicate the plan type by 

checkbox. The instructions would 

provide general definitions for purposes 

of annual reporting for the various 

categories of pension plans that must 

complete the Schedule MEP. This 

would include different types of MEPs 

(group or association retirement plans 

within the meaning of 29 CFR 2510.3– 

55(b) (association retirement plans), 

professional employer organization 

plans within the meaning of 29 CFR 

2510.3–55(c) (PEO plans), pooled 

employer plans within the meaning of 

ERISA section 3(43), and other MEPs 

covering the employees of two or more 

employers that are not single or 

multiemployer plans for annual 

reporting purposes). Multiemployer 

plans, as defined under section 3(37) of 

ERISA, would not be required to 

complete the Schedule MEP.33

Part II of the proposed Schedule MEP 

would be a repeating line item on which 

all MEPs would report information 

under ERISA section 103(g) regarding 

participating employers, including 

employer/plan sponsor name, EIN, and 

the percentage of total contributions to 

the plan or arrangement by each 

participating employer, and the 

aggregate account balances information 

the SECURE Act added to ERISA section 

103(g).34 That information is currently 

collected for MEPs as a non-standard 

attachment to the Form 5500 and Form 

5500–SF.35 Pursuant to the SECURE 

Act, a new data element would be 

added to require reporting of the 

aggregate account balances for each 

participating employer in the MEP. 

Part III would be completed by pooled 

employer plans. A pooled employer 

plan would be required to indicate 

whether the pooled plan provider 

operating the plan (identified on the 

Form 5500 for each of the pooled 

employer plans it operates as both the 

plan sponsor and the plan 

administrator) has complied with the 

registration requirements for pooled 

plan providers under section 3(43) and 

3(44) of ERISA by filing a Form PR, in 

accordance with that form’s 

instructions.36 The pooled employer 

plan would be required to provide the 

‘‘ACK ID’’—the acknowledgement code 

generated by the system in response to 

a completed filing—for the most recent 


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37The instructions to the Form PR advise the 

pooled plan provider that it must keep, under 

section 107, the electronic receipt for the Form PR 

filing as part of the records of the pooled employer 

plans operated by the pooled plan provider. 

38EBSA is responsible for collecting the Form 

5500 Annual Return/Report, in part, to fulfill the 

statutory requirements under Sections 104 and 106 

of ERISA, which require that DOL make annual 

reports filed under Title I of ERISA available to the 

public. EBSA also makes the Form 5500 filings and 

data available to the public under the Freedom of 

Information Act (FOIA), 5 U.S.C. 552. EBSA fulfills 

its responsibilities by making the Form 5500 

Annual Return/Report data available for 

downloading in bulk. See http://www.dol.gov/ebsa/ 

foia/foia.html. These bulk data files, which EBSA 

updates at the end of each month with the Form 

5500 Annual Return/Report data collected during 

that month, are downloaded by private-sector 

organizations that, in some cases, also make the 

data available on the internet. Thus, most returns/ 

reports are currently open to public inspection, and 

the contents are public information subject to 

publication on the internet. 

39These changes are also intended to address 

concerns raised by the GAO in recommending that 

‘‘the Agencies develop a central repository for EIN 

and Plan Numbers (PNs) for filers and service 

providers to improve the comparability of form data 

across filings.’’ GAO Private Pensions: Targeted 

Revisions Could Improve Usefulness of Form 5500 

Information, at 37. 

Form PR submitted.37 Pooled employer 

plans would also be required to indicate 

whether certain services were provided 

by an affiliate, and, if relying on a 

prohibited transaction exemption for the 

use of an affiliate, to identify the 

prohibited transaction (whether a class 

or individual) exemption. 

The DOL, through rules and other 

initiatives, has pursued and required 

improvements in fee transparency to 

ensure that ERISA plan fiduciaries and 

plan participants are effectively 

informed about service provider fees 

and expenses, including cost and 

performance information of designated 

investment alternatives under the plan. 

These considerations are particularly 

important in the case of pooled 

employer plans and MEPs given their 

structure and the roles that traditional 

service providers end up playing as plan 

sponsors and plan administrators. 

Accordingly, comments are specifically 

solicited on whether more specifically 

tailored questions should be added, in 

addition to those already on the 

Schedules C and H, to report fee and 

expense information on pooled 

employer plans and other MEPs, 

including information on how fees and 

expenses are allocated among 

participating employers and among 

covered participants and beneficiaries. 

Further, the proposal would require 

all MEPs, similar to the current rule for 

multiemployer plans and the proposed 

rule for DCGs, to file the Form 5500 

regardless of whether they would 

otherwise be eligible to file the Form 

5500–SF. Making the filings across plan 

types more uniform would enable more 

consistent and informed oversight of 

collective retirement arrangements. 

Small MEPs would have the same 

simplified Form 5500 reporting as small 

pension plans, including MEPs, that 

currently file the Form 5500. They 

would be able to file the Schedule I 

instead of the Schedule H and its 

financial attachments, would not be 

required to complete the Schedule C or 

Schedule G, and would be able to file 

without having an IQPA audit and 

attaching an IQPA report. 

D. Improving Usability of Data 

Collection for Schedule H, Line 4i 

Schedules of Assets 

By their nature, MEPs have the 

potential to build up a substantial 

amount of assets quickly and the effect 

of any abusive schemes on future 

retirement distributions may be hidden 

or difficult to detect for a long period. 

The DOL is aware that MEPs could be 

the target of fraud or abuse for this 

reason. Although DOL is not aware of 

direct information indicating that the 

risk for fraud and abuse is greater for 

MEPs than for other defined 

contribution pension plans, a key 

component of the proposal is to make 

the financial information reported on 

the Form 5500 Annual Return/Report 

more data mineable and accessible for 

enforcement and analysis purposes. The 

DOL does not believe it would be 

sensible to limit this aspect of the 

proposal to just pooled employer plans 

and other MEPs because, although an 

important data improvement for MEPs, 

the need for more relevant and 

comparable financial information 

extends to defined contribution and 

defined benefit pension plans generally. 

Reports from GAO, the DOL—Office of 

Inspector General, the ERISA Advisory 

Council, and the Treasury Inspector 

General for Tax Administration 

(‘‘TIGTA’’) have focused on the need for 

increased transparency and 

accountability generally in connection 

with employee benefit plan investments 

in hard-to-value and alternative assets 

and those held through pooled 

investment vehicles. It also would be 

confusing and inefficient to try to adopt 

these kinds of financial reporting 

improvement just for MEPs or for 

certain types of MEPs. 

Mandatory e-filing, which was 

implemented for the 2009 form filing 

year, changed both the regulated 

community’s and the government’s 

ability to use the Form 5500 Annual 

Return/Report data. The data sets 

developed from e-filing information 

have been helping researchers, 

businesses, and other plan 

professionals.38 The Form 5500 Annual 

Return/Report data sets can be one of 

the major building blocks for a private 

organization to use in developing 

information for employees and 

employers on plan administration. 

Currently, however, the line 4i 

attachments to Schedule H (Schedule of 

Assets Held at End of Year, Schedule of 

Assets Acquired and Disposed of Within 

Year and the Schedule of Reportable 

Transactions) are difficult to search, 

filter, aggregate, and analyze because 

they are not filed in a standardized 

electronic format. As a result, the 

Agencies, policymakers, employers, 

labor organizations, participants and 

beneficiaries, and the public have 

difficulty accessing key information 

about plan investments. This proposal 

to establish a standardized electronic 

filing format for the Schedule H, line 4i 

Schedules of Investments is also 

intended to be responsive to the OIG’s 

recommendation that the Agencies 

create a searchable reporting format for 

the Schedule H, line 4i Schedules of 

Assets and otherwise increase the 

accessibility of Form 5500 Annual 

Return/Report information, particularly 

information on hard-to-value assets and 

multiple-employer plans. See DOL–OIG 

EBSA Needs to Provide Additional 

Guidance and Oversight to ERISA Plans 

Holding Hard-To-Value Alternative 

Investments, at 17. See also Private 

Pensions: Targeted Revisions Could 

Improve Usefulness of Form 5500 

Information, at 37; see also U.S. Gov’t 

Accountability Office, GAO–12–665, 

Federal Agencies Should Collect Data 

and Coordinate Oversight of Multiple 

Employer Plans (2012), at 30. 

Schedule H, line 4i would be 

separated into two elements—line 4i(1) 

would ask whether the plan held assets 

for investment at the end of the year; 

line 4i(2) would ask about assets 

acquired and disposed of during the 

plan year. The information to be 

collected as part of the schedules would 

be largely unchanged, but some 

adjustments are being proposed to 

improve the consistency and quality of 

the data. The proposal clarifies 

conventions for identifying filers by 

name and identifying number(s).39 The 

proposal would require plans to use 

legal entity and other industry and 

regulatory identifiers for investment 

assets whenever possible. Check boxes 

are also being added for participant 

directed individual account plans to 

identify investments that are designated 

investment alternatives and qualified 

default investment alternatives and to 

require entry of the total annual 


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40See 29 CFR 2550.404a–5. The DOL published 

a final rule in 2012 that was designed to help 

America’s workers manage and invest the money 

they contribute to their 401(k)-type pension plans. 

The rule requires that workers in this type of plan 

are given, or have access to, the information they 

need to make informed decisions, including 

information about fees and expenses; the delivery 

of investment-related information in a format that 

enables workers to meaningfully compare the 

investment options under their pension plans; that 

plan fiduciaries use standard methodologies when 

calculating and disclosing expense and return 

information so as to achieve uniformity across the 

spectrum of investments that exist among and 

within plans, thus facilitating ‘‘apples-to-apples’’ 

comparisons among their plan’s investment 

options; and a new level of fee and expense 

transparency. Requiring the total annual operating 

expenses from those statements to be included on 

the plan’s Form 5500 is intended to help further 

that objective by allowing third-party data 

aggregators to build tools that will help employers, 

participants and beneficiaries, the Agencies, and 

other interested members of the public evaluate and 

monitor investment alternatives being made 

available for America’s workers to save to their 

retirement. 

41The current instructions provide that the line 

8b(1) attachment is required for plans with 500 or 

more participants as of the valuation date, not as 

of the beginning of the plan year. The Agencies are 

proposing to change that to ‘‘the beginning of the 

plan year’’ because the only participant count 

reported on Schedule MB is the count at the 

beginning of the plan year (i.e., line 2b(3)(c), 

column 1) and because doing so is consistent with 

another Schedule MB requirement, See instructions 

for line 8b(2). 

operating expenses for the investments 

expressed as a percentage of assets that 

was furnished to participants and 

beneficiaries in their most recent ‘‘404a– 

5 statement.’’ 40 With the expected 

increase in employers choosing to offer 

retirement benefits through MEPs and 

DCGs, instead of stand-alone plans that 

file their own annual return/report, and 

the requirement for DCGs to provide the 

same investments and investment 

alternatives, these changes are intended 

to help the Agencies, employers, and 

other interested stakeholders compare 

plan participation, investment options, 

and investment performance from yearto-year. 

E. Schedules MB, SB and R—Proposed 

Modifications and Additions to 

Information Reported 

As described more fully below, the 

Agencies propose adding new questions 

to the Form 5500 Schedule MB 

(Multiemployer Defined Benefit Plan 

and Certain Money Purchase Plan 

Actuarial Information), Schedule SB 

(Single-Employer Defined Benefit Plan 

Actuarial Information), and Schedule R 

(Retirement Plan Information), and 

modifying the demographic and benefit 

attachment requirements to enable the 

Agencies to project more precisely 

defined benefit pension plans’ and 

insurance programs’ liabilities. Also for 

multiemployer defined benefit pension 

plans, among other changes, the 

Agencies propose identifying a larger 

number of contributing employers. For 

both single-employer and 

multiemployer defined benefit pension 

plans, the Agencies propose the option 

to provide certain required attachments 

in a spreadsheet file to make it easier for 

the Agencies to access the information. 

1. Schedule MB Modifications 

Currently, Schedule MB requires that 

if any of the employer contributions 

reported in line 3 include amounts 

owed for withdrawal liability, an 

attachment must be provided listing the 

total withdrawal liability amounts and 

the dates such amounts were 

contributed. The Agencies propose 

modifying the line 3 instructions to 

require an attachment that breaks down 

the total withdrawal liability amounts 

by date, separately specifying the 

periodic withdrawal liability amounts 

and lump sum withdrawal liability 

amounts. 

Currently, line 6 of Schedule MB 

requires filers to provide information 

about the actuarial assumptions used to 

determine plan liabilities. The Agencies 

propose adding a new requirement for 

plans that assess withdrawal liability to 

an employer during the plan year to 

report the interest rate used to 

determine the present value of vested 

benefits for withdrawal liability 

determinations. This information would 

be reported in a new line, which would 

become line 6f. In addition, the 

Agencies propose modifying the 

questions related to the line 6 ‘‘expense 

load’’ to better align with the various 

ways multiemployer plans incorporate 

expense loads into their calculations. 

Filers would be required to indicate if 

an expense load is included in normal 

cost and, if so, whether it is determined 

as a percentage of normal cost, a dollar 

amount that varies from year to year, or 

something else. As part of the 

modification, the Agencies propose 

moving the expense load from line 6e to 

a new line 6i and to revise the 

instructions accordingly. 

In addition, the Agencies propose 

modifying line 8 of Schedule MB by 

requiring additional information about 

demographics, benefits, and 

contributions as described below. As is 

the case currently with respect to line 8, 

these requirements would apply only to 

PBGC-insured multiemployer plans 

with 500 or more total participants as of 

the beginning of the plan year. 

• Benefit Projections—Currently, 

such plans are required to attach a 

projection of benefits expected to be 

paid in each of the next ten years (see 

line 8b(1)).41 The Agencies propose 

modifying the format of the attachment 

to show the benefit projection broken 

down into three categories based on the 

participant’s or beneficiary’s status on 

the valuation date (i.e., active, 

terminated vested, in pay status). In 

addition, the projection period would be 

extended from 10 to 50 years. It is the 

Agencies’ understanding that almost all 

valuation software automatically 

generates these numbers and that it 

takes the same amount of effort to 

project 50 years as it does to project 10 

years. 

• Contribution Projections—The 

Agencies propose adding a new 

requirement that such plans provide, as 

an attachment, a 10-year projection of 

employer contributions and withdrawal 

liability payments. A new line, line 

8b(3), would be added to Schedule MB 

where the filer would report whether 

the projection is required. As is the case 

with the benefit projection attachments, 

the instructions would provide the 

required format for the attachment. 

• Average age/benefit—The Agencies 

propose requiring such plans to report 

the average age and average monthly 

benefit separately for terminated vested 

participants and retired participants and 

beneficiaries receiving payments. This 

information would be provided directly 

on Schedule MB, in new line 8b(4). 

The Agencies also propose a change 

to the ‘‘age/service’’ scatter attachment 

which is currently required for PBGCinsured multiemployer plans with 

active participants, regardless of the 

number of participants. Currently, the 

scatter shows, for each ‘‘attained age’’ 

and ‘‘years of credited service’’ grouping 

of active participants, the number of 

active participants, and if the total 

number of active participants at the 

beginning of the plan year is 1,000 or 

more, (1) for plans that use 

compensation to determine benefits, the 

average compensation, and (2) for cash 

balance plans, the average cash balance 

account (see line 8b(2)). The Agencies 

propose modifying the age/service 

scatter by deleting the required 

information related to cash balance 

plans and adding a requirement to 

report average accrued monthly benefits 

as of the valuation date for each 

grouping (for plans with 1,000 or more 

active participants at the beginning of 

the year). As is the case with respect to 

average compensation, the accrued 

benefit information would not be 

required for any age/service 

combination that contains fewer than 20 

participants. 

The Agencies also propose clarifying 

the line 4f instructions and Schedule 

language concerning when (or if) plans 

in critical status or critical and 


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declining status are projected to emerge 

or become insolvent, as filers’ previous 

responses indicate they may have been 

confused as to how to fill out line 4f 

correctly. 

2. Modifications to Schedule SB 

The Agencies propose making the 

Schedule SB (actuarial schedule), line 

26 reporting requirements about 

demographics and benefits similar to 

the requirements for PBGC-insured 

multiemployer plans. Consistent with 

the requirements for PBGC-insured 

multiemployer plans, the new singleemployer plan requirements would 

apply only to plans with 500 or more 

total participants. However, because the 

only participant count information 

reported on Schedule SB is as of the 

valuation date, for single-employer 

plans, participants are counted as of the 

valuation date for this purpose instead 

of as of the beginning of the plan year. 

Such plans would be required to attach 

a projection of benefits expected to be 

paid in each of the next 50 years broken 

down into three categories based on the 

participant’s or beneficiary’s status on 

the valuation date (i.e., active, 

terminated vested, in pay status). The 

instructions would provide the 

requirements for the attachment’s 

format. The Agencies are also proposing 

that these plans report the average age 

and average monthly benefit separately 

for terminated vested participants and 

retired participants and beneficiaries 

receiving payments. As discussed 

above, the Agencies do not believe the 

benefit projection requirement would be 

burdensome for such single-employer 

plans, as almost all valuation software 

automatically generates these numbers. 

To facilitate these changes, the 

Agencies propose rearranging Schedule 

SB line 26. Currently, line 26 relates 

only to the ‘‘age/service’’ scatter of 

active participant data required to be 

attached to Schedule SB for PBGCinsured single-employer plans with 

active participants. The Agencies 

propose changing line 26 into a threepart question (26a, 26b, and 26c). Line 

26a would be the current line 26. New 

line 26b would require PBGC-insured 

single-employer plans with 500 or more 

total participants as of the valuation 

date to attach a projection of expected 

benefit payments. New line 26c would 

be the line for plans to report average 

age and average monthly benefit 

information. 

The Agencies propose modifying Part 

IX of the Schedule SB, and its 

instructions, so that it relates to elective 

funding relief provided under the 

American Rescue Plan (ARP) Act of 

2021 instead of elective funding relief 

provided under the Pension Relief Act 

of 2010 (PRA 2010). The PRA 2010 

information is no longer needed because 

the ARP Act reduces to zero all shortfall 

amortization bases, including 

amortization bases established pursuant 

to the PRA 2010 elective funding relief. 

As modified, plan sponsors of singleemployer defined benefit plans that 

elect to have the ARP Act extended 

amortization rule apply before the 2022 

plan year would be required to report 

the first plan year to which the extended 

amortization rule applies. 

3. Modification to Schedule R Reporting 

Requirement 

The Agencies propose modifying 

Schedule R’s Part V, line 13 requirement 

that multiemployer defined benefit 

pension plans subject to minimum 

funding standards report identifying 

information about any participating 

employer whose contributions to the 

plan account for more than five (5) 

percent of the total contributions for the 

year. The proposed change would 

require that plans report identifying 

information about any participating 

employer who either (1) contributed 

more than five percent of the plan’s total 

contributions or (2) was one of the top 

ten highest contributors. This will 

ensure that reported data represents a 

reasonable sampling of contributors. 

4. Change in Format for Certain 

Schedule MB and SB Attachments 

EFAST filers currently file Form 5500 

attachments as PDF and plain text (TXT) 

files. A PDF file is required only if the 

attachment is supposed to be signed. 

TXT attachments are rarely provided. 

Many attachments include a lot of 

numbers (e.g., benefit projections, age/ 

service scatters) that are reported in 

tables. These numbers have to be 

extracted out of PDF tables and entered 

into databases or spreadsheets before 

the Agencies can use the information for 

various projects, studies, etc. This is 

costly and inefficient. It would be more 

efficient for the Agencies if this 

information was instead provided by 

filers in a tabular format (spreadsheet). 

Therefore, the Agencies propose 

modifying the instructions to allow and 

suggest (but not require) that certain 

attachments be provided in a tabular 

format (spreadsheet) such as CSV or 

XLS rather than PDF or TXT formats. 

The attachments affected by this change 

are: 

Attachment Schedule MB Schedule SB 

Schedule of Projection of Expected Benefit Payments ......................................... Line 8b(1) .............................................. Line 26b. 

Schedule of Active Participant Data (i.e., Age/service scatter) ............................. Line 8b(2) .............................................. Line 26a. 

Withdrawal Liability Amounts ................................................................................. Line 3 .................................................... N/A. 

Schedule of Projection of Employer Contributions and Withdrawal Liability ......... Line 8b(3) .............................................. N/A. 

Because much of this information is 

automatically generated by valuation 

software, the Agencies expect that this 

option may simplify the process for 

preparing attachments as well. 

F. Internal Revenue Code-Based 

Questions for the 2022 Form 5500s 

Prior to 2009, Schedule E, ESOP 

Annual Information, Schedule P, 

Annual Return of Fiduciary of 

Employee Benefit Trust, and Schedule 

T, Qualified Pension Plan Coverage 

Information, were required as part of the 

annual return under section 6058(a) of 

the Code and associated regulations, but 

they were not information collections of 

the DOL or the PBGC. Beginning in 

2009, DOL mandated electronic filing of 

Form 5500, Annual Return/Report of 

Employee Benefit Plan, and Form 5500– 

SF, Short Form Annual Return/Report 

of Small Employee Benefit Plan. 

Limitations on the IRS’ authority to 

require electronic filing of annual 

returns resulted in the removal of the 

‘‘IRS-only’’ schedules from the Form 

5500 filing requirements. See Code 

section 6011(e). 

The 2011 report from the TIGTA 

entitled ‘‘The Employee Plans Function 

Should Continue Its Efforts to Obtain 

Needed Retirement Plan Information’’ 

notes that the lack of information 

contained on Schedules E, P, and T can 

negatively impact the IRS’s ability to 

effectively focus on specific factors of 

noncompliance when selecting 

retirement plans for examination. This 

lack of information may result in the 

IRS selecting relatively compliant plans, 

which increases the burden on these 

plans and affects the IRS’s ability to 

identify and focus on potentially 

noncompliant plans. Additionally, the 

Employee Plans (EP) function has 


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42 IRS will separately make a parallel update to 

the Form 5500–EZ, which is solely in the 

jurisdiction of the IRS. 

43The Agencies proposed a similar change in 

2016 and received few comments on that aspect of 

the proposal. 81 FR 47534 (Jul. 16, 2016). 

focused its examination strategy on 

identifying plans with non-compliance 

by using compliance strategies and data 

analysis. Compliance strategies use 

agents’ experience to identify certain 

types of plans where EP sees numerous 

qualification failures. EP uses data 

analysis by identifying certain responses 

to questions on the Form 5500 that 

indicate that a plan may be noncompliant. 

Rather than reinstating the Schedules 

E, P, and T, the IRS is proposing to add 

new questions to the 2022 Form 5500 

that are designed to assist the IRS in 

identifying plans that are non-compliant 

relating to Code section 410(b) coverage, 

Code section 401(a)(4) nondiscrimination, and Code section 401(k) 

non-discrimination testing. 

Additionally, the IRS is proposing to 

add a question that will help it identify 

whether adopters of pre-approved plans 

have been updated timely for changes in 

the law. DCGs would report this 

information at the plan level as part of 

the Schedule DCG. 

Specifically, the proposal would add 

a nondiscrimination and coverage test 

question to Form 5500 and Form 5500– 

SF that was on the Schedule T before it 

was eliminated. The question asks if the 

employer aggregated plans in testing 

whether the plan satisfied the 

nondiscrimination and coverage tests of 

Code sections 401(a)(4) and 410(b). A 

plan that is aggregated with another 

plan to pass either nondiscrimination or 

coverage testing generally has more 

issues that are technically complicated 

and raise the possibility of noncompliance. Adding this question will 

allow EP to identify these plans for 

examination over plans that are likely 

more compliant with the law. This 

question is also helpful when 

performing pre-examination analysis 

and allows the IRS to narrow any 

inquiries for information that is 

requested from the plan sponsor. The 

restoration of this question also reflects 

the elimination of optional coverage and 

nondiscrimination demonstrations in 

the IRS determination letter process. See 

Rev. Proc. 2012–6, 2012–1 I.R.B. 235, 

and Announcement 2011–82, 2011–52 

I.R.B. 1052. 

The proposal would add a question to 

Form 5500 and Form 5500–SF, for 

section 401(k) plans, asking whether the 

plan sponsor used the design-based safe 

harbor rules or, if applicable, the ‘‘prior 

year’’ or ‘‘current year’’ ADP test. ADP 

testing and nondiscrimination are 

significant compliance issues for section 

401(k) plans. For example, a plan that 

performs prior year or current year ADP 

testing is more likely to have 

compliance issues than a plan with a 

designed-based safe harbor. Adding this 

question will allow EP to identify for 

examination section 401(k) plans that 

use ADP testing over plans that have 

designed-based safe harbors. This 

question will also help the IRS perform 

pre-examination analysis and, for 

design-based safe harbor plans, verify 

whether (1) allocations of required safe 

harbor contributions comply with the 

terms of the plan, and (2) proper notice 

requirements are satisfied on an annual 

basis. 

The proposal would add a question to 

Form 5500 and Form 5500–SF,42 asking 

whether the employer is an adopter of 

a pre-approved plan that received a 

favorable IRS Opinion Letter, the date of 

the favorable Opinion Letter, and the 

Opinion Letter serial number. This 

question will help the IRS identify 

whether a plan sponsor has adopted a 

pre-approved plan and to determine 

whether the plan was adopted timely in 

accordance with the Code section 401(b) 

remedial amendment period. This 

question will also assist the IRS in 

determining whether to select a plan for 

examination as a late amender for 

changes in the law. 

Finally, the proposal would add a 

new checkbox F to Form 5500–EZ, Part 

I, asking whether a filer is required to 

file Form 5500–EZ electronically 

pursuant to Treas. Reg § 301.6058–2. A 

filer who has to file at least the 

applicable number of returns with the 

IRS during a calendar year generally 

must file Form 5500–EZ electronically 

under EFAST2. The applicable number 

is 10 for returns required to be filed 

during calendar years after 2022. If a 

filer is required to file Form 5500–EZ 

electronically, but fails to do so, the filer 

is deemed to have failed to file Form 

5500–EZ. This question will assist IRS 

in determining if a filer is in compliance 

with IRS mandatory electronic filing 

rules, in the event a paper Form 5500– 

EZ is filed. 

G. Change to Participant-Count 

Methodology for Determining 

Independent Qualified Public 

Accountant Audit Requirement for 

Individual Account Plans 

The Agencies are proposing to change 

the rules for determining when a 

defined contribution pension plan is 

exempt from the requirement to include 

an IQPA report with its annual return/ 

report filing. Currently, the plan size 

measure for the IQPA audit requirement 

is based on the total number of 

participants at the beginning of the plan 

year, including those eligible to elect to 

have contributions made under a 

section 401(k) qualified cash or deferred 

arrangement even if they have not 

elected to participate and do not have 

an account balance in a section 401(k) 

or 403(b) plan. Some stakeholders have 

pointed out that the use of this 

definition for the audit threshold may 

result in two plans with the same 

number of active participants, e.g., 85 

account holders, with one subject to an 

audit and the other not based on the 

number of non-participating but eligible 

employees of the plan sponsor. They 

questioned the policy basis for such a 

difference in application of the audit 

requirement. Further, under this 

definition, some stakeholders have 

suggested that section 112 of the 

SECURE Act could make it even more 

likely that a plan with a small number 

of active participants may be required to 

bear the cost of an audit based on 

eligible but not participating employees 

being counted toward the audit 

threshold. Specifically, because section 

112 provides that long-term, part time 

workers that have reached the plan’s 

minimum age requirement and worked 

at least 500 hours in each of three 

consecutive 12-months period must be 

permitted to make elective contributions 

to a section 401(k) qualified cash or 

deferred arrangement for plan years 

beginning on or after January 1, 2024, 

there could be more employees eligible 

to participate that elect not to do so. 

These eligible employees who are not 

active participants would still be 

impacting the threshold for determining 

whether the plan would have to file as 

a large plan.43

To address these issues, the Agencies 

are proposing to add to the Form 5500 

and Form 5500–SF a new question for 

defined contribution pension plans 

only, asking for the number of 

participants with account balances at 

the ‘‘beginning of the year,’’ in addition 

to the current end-of-year count for 

defined contribution pension plan 

participants with account balances. 

Defined contribution pension plans 

would determine whether they have to 

file as a large plan and whether they 

have to attach an IQPA report and 

audited financial statements based on 

the number of participants with account 

balances as of the beginning of the plan 

year, as reported on the face of the Form 

5500 or Form 5500–SF. To avoid 

circumstances in which a beginning-ofyear count would result in an 

inappropriate exclusion of large plans 


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44This would not otherwise change how 

participants are counted for Form 5500 reporting 

purposes. 45See 1998 Form 5500, line 32(g). 

46See Government Accountability Office (GAO) 

Report GAO 20–541, ‘‘Retirement Security: DOL 

Could Better Inform Divorcing Parties About 

Dividing Savings,’’ which recommended that 

‘‘EBSA should explore ways to collect information 

on fees charged to participants or alternate payees 

by a retirement plan—including plan service 

provider fees the plan passes on to participants— 

for review and qualification of domestic relations 

orders and evaluate the burden of doing so. For 

example, DOL could consider collecting fee 

information as part of existing reporting 

requirements in the Form 5500.’’ 

from the audit requirement, for first 

plan year filings, the participant count 

for this purpose would exclude only 

plans that have fewer than 100 

participants with account balances both 

at the beginning of the first plan year 

and the end of the first plan year.44

Thus, under the proposal, the 

determination would be based on the 

number of participants with account 

balances as of the beginning of the plan 

year (as reported on proposed line 6g(1) 

of the Form 5500 or line 5c(1) of the 

Form 5500–SF), except that the 

determination for first plan year filings 

would be based on the number of 

participants with account balances both 

at the beginning of the plan year and at 

the end of the plan year (as reported on 

proposed line 6g(2) of the Form 5500 

and line 5c(2) of the Form 5500–SF). 

H. Miscellaneous and Conforming 

Changes for Forms and Instructions 

Various other technical, formatting, 

and conforming changes to the forms, 

schedules, and instructions are being 

proposed as part of the substantial 

restructuring of the Form 5500 Annual 

Return/Report described in this notice. 

For example, to implement the 

proposed Schedule MEP and Schedule 

DCG, the proposal includes conforming 

changes to other parts of the forms, 

schedules, and instructions. The 

instructions for what constitutes a 

multiple employer plan for purposes of 

the Form 5500 would generally be left 

unchanged, but conforming changes 

would be made throughout the 

instructions as necessary to reference 

the Schedule MEP and pooled employer 

plans for pension plans. The 

instructions would also be amended to 

reflect the transferring of the 

participating employer information from 

the Form 5500 Annual Return/Report to 

the Form M–1 for MEWAs that offer or 

provide coverage for medical benefits, 

and continued reporting of participating 

employer information on the Form 5500 

Annual Return/Report as an attachment 

for plan MEWAs that provide other 

benefits. The instructions for Part I, DFE 

box, would be updated to add a code for 

DCGs, which would be instructed to 

check the DFE box, enter the correct 

code, and attach the proposed Schedule 

DCG. The proposed Schedule MEP and 

Schedule DCG would be added to the 

list of pension schedules. DCG filers 

would have to check that they are 

adding the Schedule DCG and enter the 

number of Schedules DCG attached. 

Other conforming changes would also 

be made throughout the instructions as 

necessary to reference DCGs and 

Schedule DCG. The DOL’s reporting 

regulation at 29 CFR 2520.103–1(c)(2)(ii) 

and the Form 5500–SF instructions 

would be amended to add MEPs and 

DCGs to those types of filers that are not 

permitted to file a Form 5500–SF, but 

must instead file the Form 5500, with 

all required schedules and attachments. 

The instructions would be revised to 

state that pooled employer plans and 

DCGs would not report investment 

assets aggregated into master trust 

investment accounts (MTIAs) because 

the purpose of the MTIA reporting 

structure is to provide a financial 

reporting structure for groups of 

affiliated plans (e.g., separate plans of 

controlled group members) that utilize 

master trusts for the collective 

investment of the assets of the affiliated 

plans. The Departments do not believe 

that separate pooled employer plans and 

DCGs are ‘‘affiliated’’ in the way that 

was envisioned for master trust 

reporting by plans and may in fact 

create an overly complex and 

undesirable lack of transparency if used 

in the case of pooled employer plans 

and DCGs. 

The proposal would also add new 

breakout categories to the 

‘‘Administrative Expenses’’ category of 

the Income and Expenses section of the 

Schedule H balance sheet. The Agencies 

have determined that to get a better 

picture of plan expenses, particularly 

those related to service providers, more 

detail in this category is warranted. 

Accordingly, data elements would be 

added for ‘‘Salaries and allowances,’’ 

‘‘Independent Qualified Public 

Accountant (IQPA) Audit fees,’’ 

‘‘Recordkeeping and Other Accounting 

Fees,’’ ‘‘Bank or Trust Company 

Trustee/Custodial Fees,’’ ‘‘Actuarial 

fees,’’ ‘‘Legal fees,’’ ‘‘Valuation/ 

appraisal fees,’’ and ‘‘Trustee fees/ 

expenses (including travel, seminars, 

meetings.’’ Other than IQPA Audit Fees 

and Bank or Trust Company Trustee/ 

Custodial Fees, these questions were on 

the Form 5500 prior to 1999.45 As noted 

above in connection with pooled 

employer plans and MEPs, transparency 

and improved reporting of fees and 

expenses is an ongoing objective for the 

DOL and an important goal for 

continuing to improve the Form 5500 as 

a tool for financial transparency and 

accountability among employee benefit 

plans. Accordingly, the agencies 

specifically request comments on 

whether the final rule should require 

more detailed reporting regarding fee 

and expense information on the Form 

5500. Useful comments would include, 

for example, suggestions on how to 

improve reporting of direct and indirect 

service provider compensation, 

generally and in particular with respect 

to pooled employer plans, other MEPs, 

and DCG reporting arrangements 

(including information about how the 

fees and expenses are allocated among 

participating plans, employers, and plan 

participants and beneficiaries, as 

applicable). Another example of an area 

of interest on fee information is whether 

the Form 5500 would be an appropriate 

vehicle for collecting information on 

fees charged to participants or alternate 

payees by a retirement plan—including 

plan service provider fees the plan 

passes on to participants—for review 

and qualification of domestic relations 

orders.46

The proposal would also amend the 

Form 5500 instructions to make explicit 

that the pooled plan provider operating 

the pooled employer plan must report 

the same identifying information—i.e., 

name and EIN for itself, identified 

affiliates and other service providers, 

and trustees—on the Form PR for the 

pooled plan provider and on the Forms 

5500 for every pooled employer plan the 

pooled plan provider operates. The 

instructions to the new Form PR have 

parallel instructions. The proposal 

would also amend the Form 5500 and 

Form 5500–SF instructions and make 

conforming changes to the other parts of 

the forms, schedules, and instructions to 

implement the proposed changes 

described above to the participant count 

methodology for individual account 

plans for determining whether such 

plans have to file as a large plan and 

whether they have to attach an IQPA 

report. 

IV. Paperwork Reduction Act 

Statement 

As part of continuing efforts to reduce 

paperwork and respondent burden, the 

general public and Federal agencies are 

invited to comment on proposed and/or 

continuing collections of information in 

accordance with the Paperwork 

Reduction Act of 1995 (PRA) (44 U.S.C. 

3506(c)(2)(A)). This helps to ensure that 

requested data will be provided in the 


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desired format, reporting burden (time 

and financial resources) will be 

minimized, collection instruments will 

be clearly understood, and the impact of 

collection requirements on respondents 

is properly assessed. Currently, the DOL 

is soliciting comments concerning the 

proposed revisions of the Form 5500 

Annual Return/Report, Form M–1 and 

Summary Annual Report, which are 

information collection requests subject 

to the PRA. A copy of the ICRs may be 

obtained by contacting the person listed 

in the PRA Addressee section below. 

The DOL has submitted a copy of the 

proposed revisions to the Office of 

Management and Budget (OMB) in 

accordance with 44 U.S.C. 3507(d) for 

its review of the DOL’s information 

collection. The IRS and the PBGC 

intend to submit separate requests for 

OMB review and approval based upon 

the final forms revisions. The DOL and 

OMB are particularly interested in 

comments that: 

• Evaluate whether the proposed 

collection of information is necessary 

for the proper performance of the 

functions of the Agencies, including 

whether the information will have 

practical utility; 

• Evaluate the accuracy of the 

estimate of the burden of the proposed 

collection of information, including the 

validity of the methodology and 

assumptions used; 

• Enhance the quality, utility, and 

clarity of the information to be 

collected; and 

• Minimize the burden of the 

collection of information on those who 

are to respond, including through the 

use of appropriate automated, 

electronic, mechanical, or other 

technological collection techniques or 

other forms of information technology, 

e.g., permitting electronic submission of 

responses. 

Comments should be sent to the 

Office of Information and Regulatory 

Affairs, Office of Management and 

Budget, Room 10235, New Executive 

Office Building, Washington, DC 20503 

and marked ‘‘Attention: Desk Officer for 

the Employee Benefits Security 

Administration.’’ Comments can also be 

submitted by Fax: 202–395–5806 (this is 

not a toll-free number), or by email: 

OIRA_submission@omb.eop.gov. OMB 

requests that comments be received by 

October 15, 2021, which is 30 days from 

publication of the proposed rule to 

ensure their consideration. 

PRA Addressee: Address requests for 

copies of the ICR to James Butikofer, 

Office of Regulations and 

Interpretations, U.S. Department of 

Labor, Employee Benefits Security 

Administration, 200 Constitution 

Avenue NW, Room N–5655, 

Washington, DC 20210. Email: 

ebsa.opr@dol.gov. ICRs submitted to 

OMB also are available at http://

www.RegInfo.gov. 

Form 5500 ICR: As described below, 

DOL is requesting a new OMB Control 

Number for this collection. The request 

for a new control number is for 

administrative reasons only. The DOL is 

currently in the process of requesting an 

extension for OMB Control Number 

1210–0110, Annual Information Return/ 

Report of Employee Benefit Plan. Once 

all of the outstanding actions are 

complete, the DOL intends to submit a 

nonmaterial change request to transfer 

the burden from the new ICR to the 

existing OMB control number for the 

Annual Information Return/Report of 

Employee Benefit Plan (1210–0110) and 

proceed to discontinue the use of the 

new control number. 

The Agencies’ burden estimation 

methodology excludes certain activities 

from the calculation of ‘‘burden.’’ If the 

activity is performed for any reason 

other than compliance with the 

applicable federal tax administration 

system or the Title I annual reporting 

requirements, it was not counted as part 

of the paperwork burden. For example, 

most businesses or financial entities 

maintain, in the ordinary course of 

business, detailed accounts of assets and 

liabilities, and income and expenses for 

the purposes of operating the business 

or entity. These recordkeeping activities 

were not included in the calculation of 

burden because prudent business or 

financial entities normally have that 

information available for reasons other 

than federal tax or Title I annual 

reporting. Only time for gathering and 

processing information associated with 

the tax return/annual reporting systems, 

and learning about the law, was 

included. In addition, an activity is 

counted as a burden only once if 

performed for both tax and Title I 

purposes. The Agencies also have 

designed the instruction package for the 

Form 5500 Annual Return/Report so 

that filers generally will be able to 

complete the Form 5500 Annual Return/ 

Report by reading the instructions 

without needing to refer to the statutes 

or regulations. The Agencies, therefore, 

have included in their PRA calculations 

a burden for reading the instructions 

and find there is no recordkeeping 

burden attributable to the Form 5500 

Annual Return/Report. The DOL solicits 

comments regarding whether or not any 

recordkeeping beyond that which is 

usual and customary is necessary to 

complete the Form 5500 Annual Return/ 

Report. Comments are also solicited on 

whether the Form 5500 Annual Return/ 

Report instructions are generally 

sufficient to enable filers to complete 

the Form 5500 Annual Return/Report 

without needing to refer to the statutes 

or regulations. 

Summary Annual Report ICR: Section 

2520.104b–10 sets forth the 

requirements for the Summary Annual 

Report (SAR) appendix and prescribes 

formats for such reports. The DOL is 

proposing to revise the currently 

approved information collection (1210– 

0040) to include required additions to 

the SAR formats that reflect the addition 

of the new Schedule MEP and Schedule 

DCG to the 5500 Annual Report/Return. 

Form M–1 ICR: Effective for plan 

years beginning on or after January 1, 

2022, DOL is proposing to amend the 

Form M–1 information collection 

(1210–0116) by adding new questions 

requiring MEWAs (plan and non-plan 

MEWAs) that offer or provide coverage 

for medical care to identify each 

participating employer in the MEWA by 

name and EIN. MEWAs that are not 

unfunded or insured must also provide 

participating employer’s percentage of 

the total contributions (employer and 

employee) made by all employer 

participating in a MEP. This information 

is currently reported as a non-standard 

attachment as part of the Form 5500 

filing. The reporting of this burden is 

being moved from OMB control number 

1210–0110. For the 2021 plan year, 

pending the implementation of the 

Form M–1 changes, plan MEWAs that 

offer or provide coverage for medical 

care would be required provide 

participating employer information as a 

nonstandard attachment to the 2021 

Form 5500 Annual Return/Report in a 

similar manner as currently required. A 

summary of paperwork burden 

estimates follows: 

Agency: DOL–EBSA. 

Type of Review: New information 

collection. 

Title: Annual Information Return/ 

Report of Employee Benefit Plan. 

Affected Public: Individuals or 

households; Private Sector—Business or 

other for-profit; Not-for-profit 

institutions. 

Forms: Form 5500 and Schedules. 

Total Respondents: 804,000. 

Total Responses: 804,000. 

Frequency of Response: Annually. 

Estimated Total Burden Hours: 

588,000. 

Total Annualized Costs: $275 million. 

Agency: Department of Treasury— 

IRS. 

Type of Revision: Revision of existing 

collection. 

Title of Collection: Annual Return/ 

Report of Employee Benefit Plan. 


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OMB Control Number: 1545–1610. 

Affected Public: Individuals or 

households; Private Sector—Business or 

other for-profit; Not-for-profit 

institutions. 

Forms: Form 5500 and Schedules. 

Total Respondents: 804,000. 

Total Responses: 804,000. 

Frequency of Response: Annually. 

Estimated Total Burden Hours: 

354,000. 

Total Annualized Costs: $142 million. 

Agency: PBGC. 

Type of Revision: Revision of existing 

collection. 

Title of Collection: Annual 

Information Return/Report. 

OMB Control Number: 1212–0057. 

Affected Public: Individuals or 

households; Private Sector—Business or 

other for-profit; Not-for-profit 

institutions. 

Forms: Form 5500 and Schedules. 

Total Respondents: 24,744. 

Total Responses: 24,744. 

Frequency of Response: Annually. 

Estimated Total Burden Hours: 1,242. 

Total Annualized Costs: $2 million. 

Agency: DOL–EBSA. 

Type of Revision: Revision of existing 

collection. 

Title of Collection: Annual Report for 

Multiple Employer Welfare 

Arrangements. 

OMB Control Number: 1210–0116. 

Affected Public: Not-for-profit 

institutions, Businesses or other forprofits. 

Forms: Form M–1. 

Total Respondents: 687. 

Total Responses: 687. 

Frequency of Response: Annually. 

Estimated Total Burden Hours: 141. 

Total Annualized Costs: $126,556. 

Agency: DOL–EBSA. 

Type of Revision: Revision of existing 

collection. 

Title of Collection: Summary Annual 

Report Requirement. 

OMB Control Number: 1210–0040. 

Affected Public: Not-for-profit 

institutions, Businesses or other forprofits. 

Total Respondents: 761,170. 

Total Responses: 177,793,034. 

Frequency of Response: Annually. 

Estimated Total Burden Hours: 

1,110,692. 

Total Annualized Costs: $20,320,505. 

The DOL solicits comments regarding 

whether or not any recordkeeping 

beyond that which is usual and 

customary is necessary to complete the 

Form 5500 Annual Return/Report. 

Comments are also solicited on whether 

the Form 5500 Annual Return/Report 

instructions are generally sufficient to 

enable filers to complete the Form 5500 

Annual Return/Report without needing 

to refer to the statutes or regulations. 

Paperwork and Respondent Burden: 

Estimated time needed to complete the 

forms listed below reflects the combined 

requirements of the IRS, the DOL, and 

the PBGC. The times will vary 

depending on individual circumstances. 

The estimated average times are: 

Pension plans 

Large Small, filing Form 5500 Small, filing 5500–SF 

Form 5500 ..................................... 1 hr, 51 min .................................. 1 hr, 19 min.

Sch A ............................................. 2 hr, 52 min .................................. 2 hr, 52 min.

Sch MB .......................................... 8 hr, 49 min .................................. 8 hr, 6 min .................................... 8 hr, 6 min. 

Sch SB ........................................... 6 hr, 38 min .................................. 6 hr, 49 min .................................. 6 hr, 49 min. 

Sch C ............................................. 2 hr, 52 min.

Sch D ............................................. 1 hr, 39 min .................................. 20 min.

Sch G ............................................. 14 hr, 22 min.

Sch H ............................................. 11 hr, 51 min.

Sch I ............................................... 2 hr, 6 min .................................... 2 hr, 6 min.

Sch R ............................................. 1 hr, 45 min .................................. 1 hr, 7 min.

Form 5500–SF ............................... ....................................................... ....................................................... 2 hr, 35 min. 

Sch MEP ........................................ 10 min.

Welfare plans that include health benefits 

Large Small, unfunded, combination unfunded/fully insured, or 

funded with a trust 5500–SF 

Form 5500 ............................................... 1 hr, 45 min ........................................... 1 hr, 14 min. 

Sch A ...................................................... 3 hr, 40 min ........................................... 2 hr, 43 min.

Sch C ...................................................... 3 hr, 38 min.

Sch D ...................................................... 1 hr, 52 min ........................................... 20 min. 

Sch G ...................................................... 11 hr, 0 min.

Sch H ...................................................... 12 hr, 46 min.

Sch I ........................................................ ................................................................ 1 hr, 56 min. 

Form 5500–SF ........................................ ................................................................ 2 hr, 35 min. 

Welfare plans that do not include health benefits 

Large Small, filing Form 5500 Small, filing Form 5500–SF 

Form 5500 ..................................... 1 hr, 45 min .................................. 1 hr, 14 min.

Sch A ............................................. 3 hr, 40 min .................................. 2 hr, 43 min.

Sch C ............................................. 3 hr, 38 min.

Sch D ............................................. 1 hr, 52 min .................................. 20 min.

Sch G ............................................. 11 hr, 0 min.

Sch H ............................................. 12 hr, 46 min.

Sch I ............................................... ....................................................... 1 hr, 56 min.

Form 5500–SF ............................... ....................................................... ....................................................... 2 hr, 35 min. 

Sch M1 ........................................... 15 min.


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Direct filing entities 

Master trusts CCTs PSAs 103–12 IEs GIAs DCGs 

Form 5500 ............. 1 hr, 50 min ......... 1 hr, 30 min ......... 1 hr, 23 min ......... 1 hr, 38 min ......... 1 hr, 26 min ......... 1 hr, 50 min. 

Sch A ..................... 2 hr, 54 min ......... 2 hr, 48 min ......... 2 hr, 46 min ......... 2 hr, 51 min ......... 3 hr, 1 min ........... 2 hr, 52 min. 

Sch C ..................... 3 hr, 2 min ........... 1 hr, 2 min ........... 29 min ................. 1 hr, 56 min ......... 1 hr, 22 min ......... 2 hr, 42 min. 

Sch D ..................... 1 hr, 30 min ......... 48 min ................. 34 min ................. 1 hr, 1 min ........... 54 min ................. 1 hr, 39 min. 

Sch G ..................... 12 hr, 34 min ....... ............................. ............................. 8 hr, 3 min ........... ............................. 11 hr, 6 min. 

Sch H ..................... 12 hr, 19 min ....... 11 hr, 47 min ....... 11 hr, 43 min ....... 12 hr, 16 min ....... 12 hr, 1 min ......... 8 hr, 36 min. 

Sch DCG ................ ............................. ............................. ............................. ............................. ............................. 1 hr, 33 min. 

The aggregate hour burden for the 

Form 5500 Annual Return/Report 

(including schedules and short form) is 

estimated to be 0.9 million hours 

annually. The hour burden reflects 

filing activities carried out directly by 

filers. The cost burden is estimated to be 

$419 million annually. The cost burden 

reflects filing services purchased by 

filers. Presented below is a chart 

showing the total hour and cost burden 

of the revised Form 5500 Annual 

Return/Report separately allocated 

across the DOL and the IRS. There is no 

separate PBGC entry on the chart 

because, as explained below, its share of 

the paperwork burden is very small 

relative to that of the IRS and the DOL. 

DOL IRS 

Hours Costs Hours Costs 

Pension: 

Large Plans .................................................................................................................... 261,464 $62,431,639.11 142,897 $31,568,313.36 

Small Plans .................................................................................................................... 174,999 87,694,622.39 176,481 103,113,327.32 

Welfare: 

Large Plans .................................................................................................................... 108,142 111,593,190.83 9,953 1,811,627.38 

Small Plans .................................................................................................................... 6,137 5,407,649.86 2,507 1,252,295.71 

Total: 

Large Plans .................................................................................................................... 369,607 174,024,829.94 152,850 33,379,940.74 

Small Plans .................................................................................................................... 181,136 93,102,272.24 178,988 104,365,623.03 

DFEs .............................................................................................................................. 37,642 8,014,192.20 21,908 4,543,173.65 

Total Plans .............................................................................................................. 588,385 275,141,294.38 353,746 142,288,737.43 

The paperwork burden allocated to 

the PBGC includes a portion of the 

general instructions, basic plan 

identification information, a portion of 

Schedule MB, a portion of Schedule SB, 

a portion of Schedule H, and a portion 

of Schedule R. The PBGC’s Estimated 

Share of Total Form 5500 Annual 

Return/Report Burden is: 1,242 Hours 

and $1.6 million per year. 

BILLING CODE 4510–29–P 


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APPENDIX A - PROPOSED SCHEDULE MEP (MULTIPLE-EMPLOYER RETIREMENT 

PLAN INFORMATION) AND INSTRUCTIONS 

SCHEDULE MEP 

(Form 5500) 

Department of the Treasury 

Internal Revenue Service 

Department of Labor 

Employee Benefits Security Administration 

MULTIPLE-EMPLOYER RETIREMENT 

PLAN INFORMATION 

This schedule is required to be filed under section 104 of the 

Employee Retirement Income Security Act of 1974 (ERISA) and 

Section 6058(a) of the Internal Revenue Code (the Code) 

File as an attachment to Form 6600. 

► 

0MB Nos. 1210-XXXX 

1210-XXXX 

2022 

This Form is Open to 

Public Inspection 

For calendar plan year 202X or fiscal plan year beginning and ending 

A Name of plan 

C Plan administrator's name as shown on line 2a of Form 5500 EIN 

Type of Multiple-Employer Pension Plan. All multiple-employer pension plans must complete. 

Line 1 Check the appropriate box to indicate type of multiple-employer pension plan. (See Instructions) 

a[] association retirement plan (See 29 CFR 2510.3-55) (Complete Part II) 

b [] professional employer organization (PEO) plan (See 29 CFR 29 CFR 2510.3-55) (Complete Part II) 

c [] pooled employer plan (PEP) (See 29 CFR 2510.3-44) (Complete Parts II and Ill) 

d [] other multiple-employer pension plan (Describe). _____________ (Complete Part II) 

~~;1.,~fi~ Participating Employer Information. 

All multiple-employer pension plans that are subject to section 210(a) of ERISA (see instructions for filing the Form 5500) must 

complete Part II, in addition to Part I, in accordance with the instructions, to report the information for each employer 

participating in the MEP. 

Line 2 Participating Employer Information. Complete as many entries as needed to list the required information for each 

participating employer that is not an individual person (See instructions). 

2a. Name of Participating 2b. EIN 2c. Percentage of Total 2d. Aggregate Account Balances 

Employer Contributions for the Plan Year Attributable to Participating Employer 

2a. Name of Participating 2b. EIN 2c. Percentage of Total 2d. Aggregate Account Balances 

Employer Contributions for the Plan Year Attributable to Participating Employer 

CAUTION Do not individually list information for working owners (see instructions and 29 CFR 2510.3-55( d)(2)) or other 

individuals who are participants or beneficiaries in the plan or arrangement that are no longer associated with a particular 

participating employer or participating employer plan. (See instructions). Providing identifying information for individuals may 

result in rejection of this filing. If there are any such individuals in the plan, answer "Yes" to line 2e and provide the total 

information for all such individuals, without providing names or other identifying information. 

2e. Does the plan include any individuals not participating through an employer or who are individual working owners? 

[] Yes [] No 

2f. If you answer "Yes" in line 2e, enter a good faith estimate of percentage of total contributions made by all such 

individuals that are not listed on line 2a during the plan year. 
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2g. If you answer "Yes" in Line 2e, enter the aggregate account balances for all such individuals that are not listed on 

line 2a. 

laifjt,;~] Pooled Employer Plan Information. 

Pooled employer plans must answer all of the questions in Part 111, in addition to completing all of Parts I and II. 

Line 3. Has the pooled plan provider (identified as the plan sponsor and administrator in Part II of the Form 5500) 

acknowledged in writing that it is the named fiduciary and plan administrator? [] Yes [] No 

Line 4. Has the pooled plan provider (identified as the plan sponsor and administrator in Part II of the Form 5500) 

acknowledged in writing its administrative responsibilities for the plan? [] Yes [] No 

Line 5. Is the pooled plan provider currently in compliance with the Form PR (Pooled Plan Provider Registration Statement) 

requirements? (See instructions and 29 CFR 2510.3-44)[] Yes [] No 

5a If "Yes" is checked, enter the ACK ID for the most recent Form PR that was required to be filed under the Form PR 

filing requirements. (Failure to enter a valid ACK ID will subject the Form 5500 filing for any PEP operated by the 

pooled plan provider to be rejected as incomplete.) ACK ID ____________ _ 

Line 6. Have services been provided to the plan through affiliates or other related parties to the pooled plan provider? 

[] Yes [] No 

6a If "Yes," are you relying on a prohibited transaction exemption? If you answer yes, enter the PTE(s) on which you 

are relying. [] Yes (enter PTE __ _,[]No 

For Paperwork Reduction Act Notice, see the Instructions for Form 5500. DRAFT 

Schedule MEP 

(Form 5500) 

2021 v. xx 
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PROPOSED INSTRUCTIONS FOR SCHEDULE MEP 

2022 Instructions for Schedule MEP (Form 5500) (Multiple-Employer Retirement Plan 

Information) 

General Instructions 

The Schedule MEP provides information about multiple-employer pension plans (MEPs). It 

consists of three parts. All MEPs must complete Parts I and II to indicate the specific type of plan 

or arrangement, to complete a list of participating employers, and to provide certain required 

information. 

Part III only needs to be completed by pooled employer plans to answer questions specific to 

pooled employer plans and the pooled plan provider that sponsors and administers the pooled 

employer plan. 

Who Must File 

Schedule MEP (Form 5500) must be attached to a Form 5500 filed for a pension plan that 

checks the "multiple employer plan" box on Part I of Form 5500, to provide information specific to 

such plan, including a list of participating employers and related information. 

Remember to check the Schedule MEP box on the Form 5500 (Part II, line 10a(5)) to 

indicate that Schedule MEP is attached to the Form 5500. 

Welfare plans are not required to file the Schedule MEP. 
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Specific Instructions 

Part I Type of Multiple-Employer Pension Plan 

Line 1. For purposes of completing the Schedule MEP, check the element that best 

describes the type of plan. 

Element (a) Association Retirement (Defined Contribution) Plan. Check this box if the 

Schedule MEP is being filed for a defined contribution MEP that is an Association Retirement Plan 

and complete Part II. A defined contribution pension plan sponsored by a bona fide group or 

association of employers is a MEP that is an Association Retirement Plan if: (1) the group or 

association has at least one substantial business purpose unrelated to offering and providing 

employee benefits to its employer members and their employees; (2) each employer member 

directly acts as an employer of at least one employee participating in the MEP; (3) group or 

association has a formal organizational structure, (4) the group or association is controlled by its 

employer members; (5) employer members of the group or association have a commonality of 

interest; (6) plan participation is limited to employees and former employees of its employer 

members, and their beneficiaries; (7) the group or association must not be a bank or trust company, 

insurance issuer, broker-dealer, or other similar financial services firm (including a pension record 

keeper or third-party administrator) or owned or controlled by such an entity or any subsidiary or 

affiliate of such an entity, other than to the extent such an entity, subsidiary or affiliate participates 

in the group or association in its capacity as an employer member; and (8) the group or association 

meets any other applicable conditions under 29 CFR 2510.3-SS(b). 

CAUTION. Do not check this box for a defined benefit plan sponsored by a bona fide group or 

association of employers. See instructions for element (d) Other Multiple Employer Pension Plan. 
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Element (b) Professional Employer Organization (Defined Contribution) Plan (PEO 

Plan). Check this box if the Schedule MEP is being filed for a defined contribution MEP that is a 

Professional Employer Organization Plan (PEO Plan) and complete Part II. For this purpose, a 

professional employer organization (PEO) is a human-resource company that contractually assumes 

certain employer responsibilities of its client employers. A defined contribution pension plan 

sponsored by a PEO is a MEP that is a PEO Plan if the PEO (1) performs substantial employment 

functions on behalf of its client employers, and maintains adequate records relating to such 

functions; (2) have substantial control over the functions and activities of the MEP as the plan 

sponsor, the plan administrator, and a named fiduciary and continues to have plan obligations to 

MEP participants after the client employer no longer contracts with the organization; (3) ensures 

that each client employer that adopts the MEP acts directly as an employer of at least one employee 

who is a participant covered under the MEP; (4) ensures that participation in the MEP is available 

only to employees and former employees of the PEO and client employers, employees and former 

employees of former client employers who became participants during the contract period between 

the PEO and former client employers, and their beneficiaries; and (5) meets any other applicable 

conditions under 29 CFR 29 CFR 2510.3-55(c). 

CAUTION. Do not check this box for a defined benefit plan sponsored by a PEO. See instructions 

for element ( d) Other Multiple Employer Pension Plan. 

Element (c) Pooled Employer Plan (PEP). Check this box if the Schedule MEP is being 

filed for a MEP that is a PEP plan and complete Parts II and III. A pooled employer plan operated 

by a "pooled plan provider" is a MEP if: (1) the plan is an individual account plan established or 

maintained for the purpose of providing benefits to the employees of two or more employers; (2) 

the plan is a qualified retirement plan or a plan funded entirely with individual retirement accounts 
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(IRA-based plan); and (3) the terms of the plan meets certain requirements set forth in BRISA 

section 3(43). 

A "pooled plan provider" with respect to a pooled employer plan is defined in BRISA 

section 3(44) and Code section 413(e) to mean a person that: 

1. is designated by the terms of the plan as a named fiduciary under BRISA, as the plan 

administrator, and as the person responsible to perform all administrative duties that are reasonably 

necessary to ensure that the plan meets the Code requirements for tax-favored treatment and the 

requirements of BRISA and to ensure that each employer in the plan takes actions as the Secretary 

of Labor or the pooled plan provider determines necessary for the plan to meet Code and BRISA 

requirements, including providing to the pooled plan provider any disclosures or other information 

that the Secretary may require or that the pooled plan provider otherwise determines are necessary 

to administer the plan or to allow the plan to meet Code and BRISA requirements; 

2. acknowledges in writing its status as a named fiduciary under BRISA and as the plan 

administrator; 

3. is responsible for ensuring that all persons who handle plan assets or are plan fiduciaries 

are bonded in accordance with BRISA requirements; and 

4. registers as a pooled plan provider by filing a Form PR in accordance with 29 CPR 

2510.3-44. 

Note. The term "pooled employer plan" does not include a multiemployer plan or plan maintained 

by employers that have a commonality of interest other than having adopted the plan. The term also 

does not include a plan established before January 1, 2021, which is the effective date of the 

SECURE Act provisions allowing pooled employer plans to begin operating, unless the plan 
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administrator elects to have the plan treated as a pooled employer plan and the plan meets the Code 

and ERISA requirements applicable to a pooled employer plan established on or after such date, 

including the requirement that the pooled plan provider file a Form PR with the Department of 

Labor before beginning to operate any pooled employer plan(s). 

CAUTION. The pooled plan provider must be the same as the person identified as the plan 

sponsor and administrator in Part II of the Form 5500. All information for the pooled employer 

plan and the pooled plan provider operating the plan reported on the Form 5500, including Schedule 

MEP, must match the information reported on the Form PR Failure to use consistent identifying 

information could result in correspondence from the Department of Labor or the Internal Revenue 

Service. 

Element (d) Other Multiple-Employer Pension Plan. Check this box, describe the type of 

MEP ( e.g., defined benefit multiple-employer pension plan or collectively bargained multipleemployer pension plan that did not elect to be treated as a multiemployer plan) and complete Part II 

of the Schedule MEP if the Schedule MEP is being filed for a plan that is maintained by more than 

one employer and is not one of the plans already described. 

Note. A multiple employer pension plan can be collectively bargained and collectively funded, but 

if covered by PBGC termination insurance, must have properly elected before September 27, 1981, 

not to be treated as a multiemployer plan under Code section 414(f)(5) or ERISA sections 3(37)(E) 

and 4001(a)(3) and have not revoked that election or made an election to be treated as a 

multiemployer plan under Code section 414(f)(6) or ERISA section 3(37)(G). 
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Part II Multiple-Employer Plan Participating Employer Information. 

All MEPs (including association retirement plans, PEO plans, pooled employer plans 

(PEPs), and other multiple-employer pension plans) must complete Part II to report the information 

for each participating employer in the MEP filing the Form 5500. 

Complete as many entries as needed to list the required information for each participating 

employer that is not an individual person. 

Note. The amounts listed in line 2c and line 2f must equal 100 percent (with a permitted variance 

ofless than 1 percent due to rounding). 

Line 2a. Enter the name of each participating employer in line 2a. 

Note. If there are any working owners without employees participating in the plan, answer "Yes" 

to line 2e and provide the total contribution and account balance information for all such individuals 

on lines 2f and 2g, without providing names or other identifying information. For purposes of 

completing this schedule, a "working owner'' has the same meaning as in 29 CFR 2510.3-55( d)(2). 

Line 2b. Enter the EIN of the participating employer. 

CAUTION. Do not enter SSNs in lieu of an EIN. The Schedule MEP is open to public inspection, 

and the contents are public information and are subject to publication on the Internet. Because of 

privacy concerns, the inclusion of a SSN or any portion thereof on this Schedule MEP may result in 

the rejection of the filing. 

Line 2c. Enter a good faith estimate of the participating employer's percentage of the total 

contributions made by all participating employer (including the total contribution amount for 
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individuals reported on line 2f) during the plan year. If a participating employer made no 

contributions for the plan year (including participant contributions), enter "-0-" on line 2c. 

Line 2d. Enter the aggregate account balances for the participating employer, determined as 

the sum of the account balances of the employees of such employer ( and the beneficiaries of such 

employees). 

Line 2e. If the plan includes any individuals not participating through an employer or who 

are individual working owners, answer "Yes" to line 2e and complete lines 2f and 2g. Do not 

identify such individuals on line 2a. 

Line 2f. If the answer to line 2e is "Yes," enter a good faith estimate of the percentage of 

total contributions made by such individuals that are not listed on line 2a. 

Line 2g. If the answer to line 2e is "Yes," enter the aggregate account balances for all 

individuals that are not listed on line 2a. 

Part III. Pooled Employer Plan Information. 

If this filing is for a pooled employer plan (PEP), you must answer lines 3, 4, 5, and 6. 

Line 3. You must indicate whether the pooled plan provider (identified as the plan sponsor 

and administrator in Part II of the Form 5500) acknowledged in writing to all the participating 

employers that it is the named fiduciary and plan administrator. 

Note: You must also identify the pooled plan provider as the named fiduciary on Schedule C and 

report all required service provider information. 

Line 4. You must indicate whether the pooled plan provider (identified as the plan sponsor 

and administrator in Part II of the Form 5500) has acknowledged in writing its administrative 
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responsibilities for the plan. These administrative duties include conducting proper testing with 

respect to the plan and the employees of each employer in the plan that are necessary to comply 

with all applicable qualification and other tax requirements, and ensuring that all plan fiduciaries 

and persons who handle plan funds are bonded in accordance with section 412 ofERISA. 

Line 5. To be able to operate one or more pooled employer plans, pooled plan providers 

must satisfy a number of conditions, including compliance with the Form PR (Pooled Plan Provider 

Registration) requirements. See 29 CFR 2510.3-44. 

Pooled employer plans must answer whether the pooled plan provider that is the plan 

sponsor and administrator for the pooled employer plan has complied with the Form PR registration 

requirements. If you check "Yes" in line 5 to indicate that the pooled plan provider has complied 

with the registration requirements, enter in line Sa the Receipt Confirmation Code (ACK ID) for the 

most recent Form PR that was required to be filed under the Form PR filing requirements. 

Failure to enter a valid Receipt Confirmation Code (ACK ID) for the pooled plan provider's 

most recent Form PR will subject the Form 5500 filing to rejection as incomplete. 

Line 6. If services have been provided to the plan through affiliates or other related parties 

to the pooled plan administrator, you must answer "Yes" to line 6 and complete line 6a. If you are 

relying on a prohibited transaction exemption (PTE), enter the PTE number. If you answer "No," 

you must complete Schedule G to report nonexempt transactions. 

For these purposes, the term affiliate includes all persons who are treated as a single 

employer with the person intending to be a pooled plan provider under section 414(b ), ( c ), (m ), or 

( o) of the Internal Revenue Code and are expected to provide services to pooled employer plans 

sponsored by the pooled plan provider, and any officer, director, partner, employee, or relative (as 
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defined in section 3(15) of the Act) of such person; and any corporation or partnership of which 

such person is an officer, director, or partner. 
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APPENDIX B-PROPOSED SCHEDULE DCG (INDIVIDUAL PLAN INFORMATION) 

AND INSTRUCTIONS 

Schedule DCG 

Department of Labor 

Department of the Treasury 

Internal Revenue Service 

Individual Plan Information 

This schedule is required to be filed under Section 103 of the Employee 

Retirement Income Security Act (ERISA) and 

Section 6058(a) of the Internal Revenue Code (Code) 

► FIie as an attachment to Form 5500 

0MB Nos. 1210XXXX 

1210-XXXX 

2022 

This Fonn is Open to Public lnsped:ion. 

A Name of DCG B Three-di it Ian number for DCG PN ► 

C EIN for DCG 

AA Individual Plan Identification Information Complete a separate Schedule DCG for each individual plan 

whose reporting obligations are intended to be satisfied by the DCG's Form 5500 filing 

This Schedule is for O a single-employer plan O a collectively-bargained plan 

1a Name of plan 

2a Plan sponsor's name (employer, if for a single-employer plan) 

Mailing address (include room, apt., suite no. and street, or P.O. Box) 

City or town, state or province, country, and ZIP or foreign postal code 

(if foreign, see instructions) 

3 If the name and/or EIN of the plan sponsor or the plan name has changed since the last return/report 

filed for this plan, enter the plan sponsor's name, EIN, the plan name and the plan number from the last 

return/report: 

3a Sponsor's name 

3c Plan Name 

4a Total number of participants at the beginning of the plan year. .............................................. . 

b Total number of participants as of the end of the plan year ................................................ . 

c(1) Total number of active participants at the beginning of the plan year ................................................. . 

c(2) Total number of active participants at the end of the plan year .......................................................... . 

d Number of participants with account balances as of the beginning of the plan year ................................... . 

e Number of participants with account balances as of the end of the plan year. ................................ . 

f Number of participants who terminated employment during the plan year with accrued benefits that 

were less than 100% vested ........................................................................................................................... . 

1:tffiL j Financial Information 

(a) Beginning of Year 

Sa Total plan assets .......................................................... . 5a 

(1) Participant loans .................................................... . 5a(1) 

b Total plan liabilities 5b 

1 b Three-digit plan number 

PN ► 

1c Effective date of plan 

2b Employer Identification 

Number (EIN) 

2c Plan sponsor's telephone 

number 

2d Business code 

3b EIN 

3d PN 

4a 

4d 

4e 

4f 

(bl End of Year 
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C Net assets (subtract line 5b from line 5a) 5c 

6a Contributions received or receivable in cash from Amount 

Sa(1) 

(1) Employers. 

Sa(2) 

(2) Participants 

(3) Others (including rollovers) ..................... Sa(3) 

b. Noncash contributions Sb 

c. Total contributions (add lines 6a(1 )-(3) and line 6(b)) ....... Sc 

6d Benefit payment and payments to provide benefits: Sd(1) 

e Corrective distributions (see instructions) ...................................................... Se 

f Certain deemed distributions of participant loans (see instructions) .............. Sf 

g Administrative service provider's expense (salaries, fees, commissions) .................... Sg 

h Other expenses .......................................................................................... Sh 

i Net income (loss) ..................................................................................................................... Si 

j Transfers of assets 

Sj(1) 

(1) To this plan ............................................................................................... 

(2) From this plan ........................................................................................... Sj(2) 

•Rtffl j Plan Characteristics 

7 Enter the applicable two-character feature codes from the List of Plan Characteristics Codes in the instructions. 

[I] [I] [I] [I] [I] [I] [I] [I] [I] [I] 

Sa Was there a failure to transmit to the plan any participant contributions within the time 

period described in 29 CFR 2510.3-102? Continue to answer "Yes" for any prior year failures until 

fully corrected. (See instructions and DOL's Voluntary Fiduciary Correction Program.) ................... Ba 

b Were there any nonexempt transactions with any party-in-interest?............................................ Sb 

c Has the plan failed to provide any benefit when due under the plan? ... ... ... .. . .. . .. . .. . ... ... ... .. . .. ~B_c_~-~-~------~ 

9a If, during this plan year, any assets or liabilities were transferred from this plan to another plan(s), identify the plan(s) to which 

assets or liabilities were transferred. (See instructions.) 

9b(1) Name of plan(s) 9b(2) EIN(s) 9b(3) PN(s) 

10 Is this a defined contribution plan subject to the minimum funding requirements of section 412 of the Code? D YesD No 

11 a Does the plan satisfy the coverage and nondiscrimination tests of Code sections 41 0(b) and 401 (a)( 4) by combining this 

plan with any other plans under the permissive aggregation rules? [] Yes [] No 

11 b If this is a Code section 401 (k) plan, check the correct box to indicate how the plan is intended to satisfy the 

nondiscrimination requirements for employee deferrals and employer matching contributions (as applicable) under Code 

sections 401 (k)(3) and 401 (m)(2)? 

D Design-based safe harbor method "Prior year" ADP test "Current year" ADP test N/A 
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12 If the plan sponsor is an adopter of a pre-approved plan that received a favorable IRS Opinion Letter, enter the date of 

the Opinion Letter / / (MM)DYYYYY) and the Opinion Letter serial number ____ _ 

1:ffija,jjl Accountant Opinion Information for Large Participating Plans 

13 Complete lines 13a through 13c if the report of an independent qualified public accountant is attached to this Schedule DCG. 

a The opinion reflected in the attached report of an independent qualified public accountant for this plan is (see instructions): 

(1) D Unmodified (2) D Qualified (3) D Disclaimer (4) D Adverse 

b Check the appropriate box(es) to indicate whether the IQPA performed an ERISA section 103(a)(3)(C) audit. Check boxes (1) and (2) if the 

audit was performed pursuant to both 29 CFR 2520.103-8 and 29 CFR 2520.103-12(d). Check box (3) if pursuant to neither. 

(1) D DOL Regulation 2520.103-8 (2)0 DOL Regulation 2520.103-12(d) (3)0neither DOL Regulation 2520.103-8 nor DOL Regulation 

2520.103-12 d. 

c Enter the name and EIN of the accountant (or accounting firm) below: 

(1) Name: (2) EIN: 
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PROPOSED INSTRUCTIONS FOR SCHEDULE DCG 

2022 Instructions for Schedule DCG (Form 5500) Individual Plan Information 

General Instructions 

Purpose of Schedule 

This schedule is used for a plan administrator to report information regarding each 

individual plan participating in a Defined Contribution Group (DCG) Reporting Arrangement, as 

permitted by SECURE Act section 202. 

Who Must File 

Schedule DCG must be attached to a Form 5500 filed for a DCG reporting arrangement. 

Each plan participating in the DCG reporting arrangement must individually complete a Schedule 

DCG as an attachment to the Form 5500. 

Remember to check Schedule DCG box on the Form 5500 (Part II, Line 10(a)(4) to indicate 

Schedule DCG is attached to the Form 5500. 

Specific Instructions 

Part I - DCG Information 

Lines A, B, and C. The information must be the same as reported in Part II of the Form 

5500 to which this schedule is attached. 

Do not use a SSN in line C in lieu of an EIN. The Schedule DCG and its attachments are 

open to public inspection, and the contents are public information. Because of privacy concerns, 

the inclusion of a SSN or any portion thereof on this Schedule DCG or any of its attachments may 

result in the rejection of the filing. 
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You can apply for an EIN from the IRS online, by fax, or by mail depending on how soon 

you need to use the EIN. For more information, see Section 3: Electronic Filing Requirement under 

General Instructions to Form 5500. 

Part II - Individual Plan Identification Information 

A separate Schedule DCG must be filed for each individual plan participating in the DC Group 

Reporting Arrangement. 

Box for Single-Employer Plan. Check this box if the Schedule DCG is filed for a singleemployer plan. A single-employer plan for this reporting purpose is an employee benefit plan 

maintained by one employer or one employee organization (determined on a controlled group basis) 

in which the funds attributable to each employer are available to pay benefits only for that 

employer's employees. 

Box for Collectively-Bargained, Single-Employer Plan. Check this box if the 

contributions to the plan and/or the benefits paid by the plan are subject to the collective bargaining 

process. The contributions and/or benefits do not have to be identical for all employees under the 

plan. 

Part III - Basic Individual Plan Information 

Complete separately for each individual plan that participates in the DCG Reporting Arrangement. 

Line la. Enter the formal name of the plan or enough information to identify the plan. Abbreviate 

if necessary. If an annual return/report or a schedule has previously been filed on behalf of the plan, 

regardless of the type of form or schedule that was filed, use the same name or abbreviation as was 

used on the prior filings. Once you use an abbreviation, continue to use it for that plan on all future 

annual return/report or schedule filings with the IRS, DOL, and PBGC. Do not use the same name 
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or abbreviation for any other plan, even if the first plan is terminated. If the plan has changed its 

name from the prior year filing(s), complete line 3 to indicate that the plan was previously identified 

by a different name. 

Line lb. Enter the three-digit plan or entity number (PN) of the employer or plan administrator 

assigned to the plan. This three-digit number, in conjunction with the EIN entered on line 2b, is 

used by the IRS, DOL, and PBGC as a unique 12-digit number to identify the plan. 

Line le. Enter the date the plan first became effective. 

Line 2a. Enter the name of the plan sponsor. If the plan covers only the employees of one 

employer, enter the employer's name. Enter the current street address, the name of the city, the twocharacter abbreviation of the U.S. state or possession and zip code. 

A post office box number may be entered if the Post Office does not deliver mail to the 

sponsor's street address. 

Note. Use the IRS Form 8822-B, Change of Address or Responsible Party-Business, to notify the 

IRS if the address provided here is a change in your business mailing address or your business 

location. 

Line 2b. Enter the nine-digit EIN assigned to the plan sponsor/employer. Do not use a SSN in lieu 

of an EIN. Because of privacy concerns, the inclusion of a SSN or any portion thereof on this line 

may result in the rejection of the filing. 

Employers without an EIN must apply for one as soon as possible. To apply for an EIN 

from the IRS: 

• Mail or fax Form SS-4, Application for EIN, obtained at www.irs.gov/orderforms. 
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• See https:/lwww.IRS.gov/Businesses and click on "Employer ID Numbers" for additional 

information. The EIN is issued immediately once the application information is validated. (The 

online application process is not yet available for corporations with addresses in foreign countries or 

Puerto Rico.) 

Line 2c. Enter the plan sponsor's telephone number, including the area code. 

Line 2d. Enter the six-digit business code from the list of business codes ( on pages xx) that best 

describes the primary nature of the plan sponsor's business. Do not enter code 525100 (Insurance 

& Employee Benefit Funds) or 813930 (Labor Unions and Similar Labor Organizations) unless the 

predominant industry in which the active participants are employed is the industry of insurance and 

employee benefit funds, or the industry of labor unions and similar labor organizations. 

Line 3. If the plan sponsor's name and/or EIN have changed or the plan name has changed since 

the last return/report or schedule was filed for this plan, enter the plan sponsor's name, EIN, the 

plan name, and the plan number as it appeared on the last return/report or schedule filed. 

m The failure to indicate on line 3 that a plan sponsor was previously identified by a different 

name or a different EIN or that the plan name has been changed could result in correspondence 

from the DOL and/or the IRS. 

Line 4a. Enter the total number of participants at the beginning of the plan year. 

Line 4b. Enter the total number of participants at the end of the plan year. 

Line 4c(l). Enter the total number of active participants at the beginning of the plan year. 

Line 4c(2). Enter the total number of active participants at the end of the plan year. 
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"Participant" for purpose of lines 4a(l )-4c(2) means any individual who is included in one 

of the categories below. 

1. Active participants (for example, any individuals who are currently in employment covered by 

the plan and who are earning or retaining credited service under the plan) including: 

• Any individuals who are eligible to elect to have the employer make payments under a 

section 401(k) qualified cash or deferred arrangement, and 

• Any nonvested individuals who are earning or retaining credited service under the plan. 

This category does not include (a) nonvested former employees who have incurred the break 

in service period specified in the plan or (b) former employees who have received a "cash-out" 

distribution or deemed distribution of their entire nonforfeitable accrued benefit. 

2. Retired or separated participants receiving benefits (for example, individuals who are retired 

or separated from employment covered by the plan and who are receiving benefits under the plan). 

This category does not include any individual to whom an insurance company has made an 

irrevocable commitment to pay all the benefits to which the individual is entitled under the plan. 

3. Other retired or separated participants entitled to future benefits (for example, any individuals 

who are retired or separated from employment covered by the plan and who are entitled to begin 

receiving benefits under the plan in the future). This category does not include any individual to 

whom an insurance company has made an irrevocable commitment to pay all the benefits to which 

the individual is entitled under the plan. 

4. Deceased individuals who had one or more beneficiaries who are receiving or are entitled to 

receive benefits under the plan. This category does not include any individual to whom an 

insurance company has made an irrevocable commitment to pay all the benefits to which the 

beneficiaries of that individual are entitled under the plan. 
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Line 4d. Enter the number of participants included on line 4a (total number of participants at the 

beginning of the plan year) who have account balances. For example, for a section 40l(k) plan the 

number entered on line 4d should be the number of participants counted on line 4a who have made 

a contribution, or for whom a contribution has been made, to the plan for this plan year or any prior 

plan year. 

Line 4e. Enter the number of participants included on line 4b (total number of participants at the 

end of the plan year) who have account balances. For example, for a section 40l(k) plan the 

number entered on line 4e should be the number of participants counted on line 4b who have made 

a contribution, or for whom a contribution has been made, to the plan for this plan year or any prior 

plan year. 

Line 4f. Include any individual who terminated employment during this plan year, whether or not 

he or she (a) incurred a break in service, (b) received an irrevocable commitment from an insurance 

company to pay all the benefits to which he or she is entitled under the plan, and/or ( c) received a 

cash distribution or deemed cash distribution of his or her nonforfeitable accrued benefit. 

Part IV - Financial Information 

Note. The cash, modified cash, or accrual basis accounting methods may be used for recognition of 

transactions in Part IV, as long as you use one method consistently. If Form 5500 or Form 5500-SF 

was filed for the previous year, amounts reported on lines 5a, 5b, and 5c for the beginning of the 

plan year must be the same as reported for the end of the plan year for the corresponding lines on 

the return/report for the preceding plan year. However, if Schedule DCG was filed in the previous 

year, the amount reported on lines 5a, 5b, and 5c for the beginning of the plan year must be the 
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same as reported for the end of the plan year on the Schedule DCG filed for the previous year. Use 

whole dollars only. 

Current value means fair market value where available. Otherwise, it means the fair value 

as determined in good faith under the terms of the plan by a trustee or a named fiduciary, assuming 

an orderly liquidation at time of the determination. See ERISA section 3(26). 

Line 5a. Enter the total amount of plan assets at the beginning of the plan year in column (a). 

Do not include contributions designated for the 2022 plan year in column ( a). Enter the total 

amount of plan assets at the end of the plan year in column (b ). 

Line 5a(t ). Enter the current value of all loans to participants including residential mortgage loans 

that are subject to Code section 72(p). Include the sum of the value of the unpaid principal 

balances, plus accrued but unpaid interest, if any, for participant loans made under an individual 

account plan with investment experience segregated for each account, which are made in 

accordance with 29 CFR 2550.408b-1 and secured solely by a portion of the participant's vested 

accrued benefit. When applicable, combine this amount with the current value of any other 

participant loans. Do not include in column (b) a participant loan that has been deemed distributed 

during the plan year under the provisions of Code section 72(p) and Treasury Regulations section 

1.72(p)-1, if both of the following circumstances apply: 

1. Under the plan, the participant loan is treated as a directed investment solely of the 

participant's individual account; and 

2. As of the end of the plan year, the participant is not continuing repayment under the loan. 

If both of these circumstances apply, report the loan as a deemed distribution on line 6f. 

However, if either of these circumstances does not apply, the current value of the participant loan 
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(including interest accruing thereon after the deemed distribution) must be included in column (b) 

without regard to the occurrence of a deemed distribution. 

Note. After a participant loan that has been deemed distributed is included in the amount reported 

on line 6f, it is no longer to be reported as an asset on line 5a unless, in a later year, the participant 

resumes repayment under the loan. However, such a loan (including interest accruing thereon after 

the deemed distribution) that has not been repaid is still considered outstanding for purposes of 

applying Code section 72(p )(2)(A) to determine the maximum amount of subsequent loans. Also, 

the deemed distribution is not treated as an actual distribution for other purposes, such as the 

qualification requirements of Code section 401, including, for example, the determination oftopheavy status under Code section 416 and the vesting requirements of Treasury Regulations section 

l.41 l(a)-7(d)(5). See Q&As 12 and 19 of Treasury Regulations section 1.72(p)-1. 

The entry on line 5a, column (b) (plan assets at end of year) must include the current 

value of any participant loan included as a deemed distribution in the amount reported for any 

earlier year if, during the plan year, the participant resumes repayment under the loan. In 

addition, the amount to be entered on line 6f must be reduced by the amount of the participant 

loan reported as a deemed distribution for the earlier year. 

Line 5b. Enter the total liabilities at the beginning and end of the plan year. Liabilities to be entered 

here do not include the value of future pension payments to participants. The amount to be entered 

in line 5b for accrual basis filers includes, among other things: 

1. Benefit claims that have been processed and approved for payment by the plan but have 

not been paid (including all incurred but not reported (IBNR) welfare benefit claims); 

2. Accounts payable obligations owed by the plan that were incurred in the normal 

operations of the plan but have not been paid; and 
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3. Other liabilities such as acquisition indebtedness and any other amount owed by the plan. 

Line Sc. Enter the net assets as of the beginning and end of the plan year. (Subtract line Sb from 

Sa). Line Sc, column (b), must equal the sum of line Sc, column (a), plus lines 6g (net income 

(loss)) and 6h (transfers to (from) the plan). 

Lines 6a(l) and (2). Enter the total cash contributions received and/or receivable by the plan from 

employers and participants during the plan year. Plans using the accrual basis of accounting must 

not include contributions designated for years before the 2022 plan year on line 6a(l). 

Line 6a(3). Enter the amount of all other contributions including transfers or rollovers received 

from other plans valued on the date of contribution. 

Line 6b. Enter the current value, at date contributed, of securities or other noncash property. 

Line 6c. Enter the total cash, noncash, and other contributions received and/or receivable by the 

plan from employers and participants during the plan year. 

Line 6d. Enter the total amount of benefits paid directly to participants or beneficiaries, 

including payments made (and for accrual basis filers payments due) to or on behalf of 

participants or beneficiaries in cash, securities, or other property (including rollovers of an 

individual's accrued benefit or account balance); all eligible rollover distributions as defined 

in Code section 401(a)(3 l)(D) paid at the participant's election to an eligible retirement plan 

(including an IRA within the meaning of Code section 401(a)(3 l)(E)). 

Line 6e. Enter total amount of corrective distributions, including all distributions paid during 

the plan year of excess deferrals under section 402(g)(2)(A)(ii), excess contributions under 

section 401(k)(8), excess aggregate contributions under Code section 401(m)(6), and allocable 

income distributed. Also include on this line any elective deferrals and employee 
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contributions distributed or returned to employees during the plan year as well as any 

attributable income that was also distributed. 

Line 6f. Enter the total amount of certain deemed distributions of participant loans, including a 

participant loan that has been deemed distributed during the plan year under the provisions of Code 

section 72(p) and Treasury Regulations section 1.72(p)-l only if both of the following 

circumstances apply: 

1. Under the plan, the participant loan is treated as a directed investment solely of the 

participant's individual account; and 

2. As of the end of the plan year, the participant is not continuing repayment under the loan. 

If either of these circumstances does not apply, a deemed distribution of a participant loan 

should not be reported on line 6d. Instead, the current value of the participant loan (including 

interest accruing thereon after the deemed distribution) must be included on line Sa(l )), column (b) 

(participant loans - end of year), without regard to the occurrence of a deemed distribution. 

Line 6g. The amount to be reported for expenses involving administrative service providers 

(salaries, fees, and commissions) during the plan year includes the total fees paid (or in the case of 

accrual basis plans, costs incurred during the plan year but not paid as of the end of the plan year) 

by the plan for, among others: 

1. Salaries to employees of the plan; 

2. Fees and expenses for accounting, actuarial, legal, investment management, investment 

advice, and securities brokerage services; 

3. Contract administrator fees; and 
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4. Fees and expenses for individual plan trustees, including reimbursement for travel, seminars, 

and meeting expenses. 

Line 6h. Other expenses (paid and/or payable) include other administrative and miscellaneous 

expenses paid by or charged to the plan during the plan year, including among others office supplies 

and equipment, telephone, and postage. 

Part V - Plan Characteristics 

Line 7. Enter all applicable plan characteristics codes that applied during the reporting year from the 

List of Plan Characteristics Codes shown in the instructions for Form 5500. 

Part VI - Compliance Questions 

Line 8a. Plans that check "Yes," must enter the aggregate amount of all late contributions for 

the year. The total amount of the delinquent contributions must be included on line 8a for the 

year in which the contributions were delinquent and must be carried over and reported again on 

line 8a for each subsequent year ( or on line 4a of Schedule H or I of the Form 5 500 if not 

eligible to file the Form 5500-SF or not eligible or choosing not to rely on a DCG Form 5500 

filing to satisfy the plan's reporting requirement in the subsequent year) until the year after the 

violation has been fully corrected by payment of the late contributions and reimbursement of the 

plan for lost earnings or profits. If no participant contributions were received or withheld by the 

employer during the plan year, answer "No." 

An employer holding participant contributions commingled with its general assets after 

the earliest date on which such contributions can reasonably be segregated from the employer's 

general assets will have engaged in a prohibited use of plan assets (see ERISA section 406). If 

such a nonexempt prohibited transaction occurred with respect to a disqualified person (see 
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Code section 4975(e)(2)), file IRS Form 5330, Return of Excise Taxes Related to Employee 

Benefit Plans, with the IRS to pay any applicable excise tax on the transaction. 

Line Sb. Check "Yes" if any nonexempt transaction with a party-in-interest occurred. Do not 

check "Yes" with respect to transactions that are: (1) statutorily exempt under Part 4 of Title I of 

ERISA; (2) administratively exempt under ERISA section 408(a); (3) exempt under Code 

sections 4975(c) or 4975(d); (4) the holding of participant contributions in the employer's 

general assets for a welfare plan that meets the conditions ofERISA Technical Release 92-01; 

or (5) delinquent participant contributions or delinquent loan repayments reported on line 8a. 

You may indicate that an application for an administrative exemption is pending. If you are 

unsure whether a transaction is exempt or not, you should consult either with a qualified public 

accountant, legal counsel, or both. If the plan is a qualified pension plan and a nonexempt 

prohibited transaction occurred with respect to a disqualified person, an IRS Form 5330 is 

required to be filed with the IRS to pay the excise tax on the transaction. Plans that check "Yes" 

must enter the amount. 

Nonexempt transactions. Nonexempt transactions with a party-in-interest include any direct or 

indirect: 

A. Sale or exchange, or lease, of any property between the plan and a party-in-interest. 

B. Lending of money or other extension of credit between the plan and a party-in-interest. 

C. Furnishing of goods, services, or facilities between the plan and a party-in-interest. 

D. Transfer to, or use by or for the benefit of, a party in-interest, of any income or assets of 

the plan. 
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E. Acquisition, on behalf of the plan, of any employer security or employer real property in 

violation ofERISA section 407(a). 

F. Dealing with the assets of the plan for a fiduciary's own interest or own account. 

G. Acting in a fiduciary's individual or any other capacity in any transaction involving the 

plan on behalf of a party ( or represent a party) whose interests are adverse to the interests of the 

plan or the interests of its participants or beneficiaries. 

H. Receipt of any consideration for his or her own personal account by a party-in-interest 

who is a fiduciary from any party dealing with the plan in connection with a transaction 

involving the income or assets of the plan. 

Party-in-Interest. For purposes of this form, party-in interest is deemed to include a 

disqualified person. See Code section 4975(e)(2). The term "party-in-interest" means, as to an 

employee benefit plan: 

A. Any fiduciary (including, but not limited to, any administrator, officer, trustee, or 

custodian), counsel, or employee of the plan; 

B. A person providing services to the plan; 

C. An employer, any of whose employees are covered by the plan; 

D. An employee organization, any of whose members are covered by the plan; 

E. An owner, direct or indirect, of 50% or more of: 

1. the combined voting power of all classes of stock entitled to vote or the total value of 

shares of all classes of stock of a corporation; 
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2. the capital interest or the profits interest of a partnership; or 

3. the beneficial interest of a trust or unincorporated enterprise which is an employer or 

an employee organization described in C or D; 

F. A relative of any individual described in A, B, C, or E; 

G. A corporation, partnership, or trust or estate of which (or in which) 50% or more of: 

1. the combined voting power of all classes of stock entitled to vote or the total value of 

shares of all classes of stock of such corporation, 

2. the capital interest or profits interest of such partnership, or 

3. the beneficial interest of such trust or estate, is owned directly or indirectly, or held 

by persons described in A, B, C, D, or E; 

H. An employee, officer, director ( or an individual having powers or responsibilities similar 

to those of officers or directors), or a 10% or more shareholder directly or indirectly, of a person 

described in B, C, D, E, or G, or of the employee benefit plan; or 

I. A 10% or more (directly or indirectly in capital or profits) partner or joint venture of a 

person described in B, C, D, E, or G. 

Line 8c. You must check "Yes" if any benefits due under the plan were not timely paid or not 

paid in full. This would include required minimum distributions to 5% owners who have 

attained 72 whether or not retired and/or non-5% owners who have attained 72 and have retired 

or separated from service; see Code section 401(a)(9). Include in this amount the total of any 

outstanding amounts that were not paid when due in previous years that have continued to 

remain unpaid. 
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Note: In the absence of other guidance, filers do not need to report on this line unpaid required 

minimum distribution (RMD) amounts for participants who have retired or separated from service, 

or their beneficiaries, who cannot be located after reasonable efforts or where the plan is in the 

process of engaging in such reasonable efforts at the end of the plan year reporting period. Plan 

administrators and employers should review their plan documents for written procedures on 

locating missing participants. Although the Department of Labor's Field Assistance Bulletin 2014-

01 is specifically applicable to terminated defined contribution plans, employers and plan 

administrators of ongoing plans may want to consider periodically using one or more of the search 

methods described in the Field Assistance Bulletin in connection with making reasonable efforts to 

locate RMD-eligible missing participants. 

Line 9a. Check "Yes" if all of the plan assets (including insurance/annuity contracts) were 

distributed to the participants and beneficiaries, legally transferred to the control of another plan, 

or brought under the control of the PBGC. 

Line 9b. Enter infonnation concerning assets and/or liabilities transferred from this plan to 

another plan(s) (including spinoffs) during the plan year. A transfer of assets or liabilities 

occurs when there is a reduction of assets or liabilities with respect to one plan and the receipt of 

these assets or the assumption of these liabilities by another plan. Enter the name, plan sponsor 

EIN, and PN of the transferee plan(s) involved on lines 9b(l), (2), and (3), respectively. 

Do not use a SNN in place of an EIN or include an attachment that contains visible SSN. 

Note. A distribution of all or part of an individual participant's account balance that is 

reportable on Form 1099-R should not be included on line 9c. 

IRS Form 5 310-A, Notice of P Ian Merger or Consolidation, Spino.ff, or Transfer of P Ian 

Assets or Liabilities; Notice of Qualified Separate Lines of Business, must be filed at 
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least 30 days before any plan merger or consolidation or any transfer of plan assets or 

liabilities to another plan. There is a penalty for not filing IRS Form 5 310-A on time. 

Line 10. Check "Yes" if this is a defined contribution plan subject to the minimum funding 

requirements of Code section 412. 

Line lla. Check "Yes" if this plan was permissively aggregated with another plan to satisfy the 

requirements of Code sections 410(b) and 401(a)(4). Generally, each single plan must separately 

satisfy the coverage and nondiscrimination requirements. However, generally, an employer may 

designate two or more separate plans as a single plan for purposes of applying the ratio percentage 

test of Treasury Regulations section 1.41 0(b )-2(b )(2) or the nondiscriminatory classification test of 

Treasury Regulations section 1.410(b )-4. Two or more plans that are permissively aggregated and 

treated as a single plan for purposes of the minimum coverage test of Code section 4 IO(b) must also 

be treated as a single plan for purpose of the nondiscrimination test under Code section 401(a)(4). 

See Treasury Regulations sections 1.410(b)-7(d) and 1.401(a)(4)-(9)(a) for more information. 

Line 11 b. Check the applicable method used to satisfy the nondiscrimination requirements of Code 

section 401(k). A safe harbor 401(k) plan is similar to a traditional 401(k) plan but, among other 

things, it must provide for employer contributions. These contributions may be employer matching 

contributions, limited to employees who defer, or employer contributions made on behalf of all 

eligible employees, regardless of whether they make elective deferrals. The safe harbor 401(k) plan 

is not subject to the complex annual nondiscrimination tests that apply to traditional 401 (k) plans. 

Check "Design-based safe harbor method" if this is a safe harbor 401(k) plan, that is, a SIMPLE 

401(k) plan under Code section 40l(k)(l 1), a safe harbor 401(k) plan under Code section 

401(k)(12), or a qualified automatic contribution arrangement under Code section 401(k)(13). If the 

plan, by its terms, does not satisfy the safe harbor method, it generally must satisfy the regular 

nondiscrimination test, known as the actual deferral percentage (ADP) test. Check the appropriate 
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box to indicate if the plan uses the "current year" ADP test or the "prior year" ADP test. Check 

"current year" ADP test if the plan uses the current year testing method under which the ADP test is 

performed by comparing the current plan year's ADP for highly compensated employees (HCEs) 

with the current plan year's (rather than the prior plan year's) ADP for nonhighly compensated 

employees (NHCEs). Check all boxes that apply for a plan that tests different groups of employees 

on a disaggregated basis. Check "NIA" if the plan is not required to test for nondiscrimination 

under Code section 401(k)(3), such as a plan in which no HCE is benefiting. 

Line 12. If a plan sponsor or an employer adopted a pre-approved plan that relied on a favorable 

Opinion Letter of a pre-approved plan, enter the date of the most recent favorable Opinion Letter 

issued by the IRS and the Opinion Letter serial number listed on the letter. 

Part VII-Accountant's Opinion for Individual Participating Plan 

Line 13. If any plans participating in the arrangement have 100 participants or more, using the 

same rules for counting participants as for individual plan filings, including the "80 to 120" rule at 

29 CFR 2520.103-l(d), each such plan must be audited and an IQPA report and audited financial 

statements for such plan must be attached to the Schedule DCG for that participating plan. The 

audit and its report must follow the same rules as required for a plan that is filing its own Form 

5500 Annual Return/Report and not having any of its reporting obligations satisfied by the filing of 

a Form 5500 by a DCG. See Instructions to Schedule H, Line 3. 

Line 13a. These boxes identify the type of opinion offered by the IQP A The plan administrator 

should confirm with their IQPA whether the opinion was an unmodified, qualified, disclaimer of, or 

adverse opinion before answering Line 13a. Line 13a(l ). Check if an unmodified opinion was 

issued pursuant to SAS 136. Generally, an unmodified opinion is issued when the IQPA concludes 

that the plan's financial statements are presented fairly, in all material respects, in accordance with 
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the applicable financial reporting framework (generally accepted accounting principles (GAAP) or 

another basis such as modified cash or cash basis). This also includes the form of opinion that SAS 

136 permits an IQPA to issue when the IQPA has performed an ERISA section 103(a)(3)(C) audit 

pursuant to 29 CFR 2520.103-8 or 29 CFR 2520.103-12, or both, and had no modifications. Under 

29 CFR 2520.103-8, the examination and report of an IQPA does not need to extend to statements 

or infonnation regarding assets held by a bank, similar institution, or insurance carrier that is 

regulated and supervised and subject to periodic examination by a state or federal agency provided 

that the statements or information are prepared by and certified to by the bank or similar institution 

or the insurance carrier. The term ''similar institution'' as used here does not extend to securities 

brokerage firms (see DOL Advisory Opinion 93-2 lA). Under 29 CFR 2520.103-12, an audit of an 

employee benefit plan does not need extend to the investments in a pooled investment fund that 

files a separate audited Form 5500 as a 103-12 IE. For more information on filing requirements for 

103-12 TEs, See Section 4: What to File. Neither of these regulations exempt the plan administrator 

from engaging an IQPA nor from attaching the IQPA' s report to the Schedule DCG. 

Line 13a(2). Check if a qualified opinion was issued. Generally, a qualified opinion is issued by an 

IQPA when (a) the IQPA, having obtained sufficient appropriate audit evidence, concludes that 

misstatements, individually or in the aggregate, are material but not pervasive to the financial 

statements or (b) the lQPA is unable to obtain sufficient appropriate audit evidence on which to 

base the opinion, but the auditor concludes that the possible effects on the financial statements of 

undetected misstatements, if any, could be material but not pervasive. 

Line 13a(3). Check if a disclaimer of opinion was issued. A disclaimer of opinion is issued when 

the IQP A is unable to obtain sufficient appropriate audit evidence on which to base the opinion, and 

the IQP A concludes that the possible effects on the financial statements of undetected 

misstatements, if any, could be both material and pervasive. 
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Line 13a(4). Check if the plan received an adverse accountant's opinion. Generally, an adverse 

opinion is issued by an IQPA Instructions for Schedule H (Form 5500) -37- when the IQPA having 

obtained sufficient appropriate audit evidence, concludes that misstatements, individually or in the 

aggregate, are both material and pervasive to the financial statements. 

Line 13b. Check "DOL Regulation 2520.103-8" or "DOL Regulation 2520.103-12( d)" ( or both 

boxes, if applicable) if the IQPA performed an ERISA Section 103(a)(3)(C) audit of the plan's 

financial statements pursuant to DOL regulations 29 CFR 2520.103-8, 29 CFR 2520.103-12(d), or 

under both. If it was not performed pursuant to 29 CFR 2520.103-8 or 29 CFR 2520 103-12(d), 

check box (3). Note. These regulations do not exempt the plan administrator from engaging an 

IQPA or from attaching the IQPA's report to the Form 5500. If you check box 103-8 or 103-12(d) 

or both, you must also check the appropriate box on line 13a to identify the type of opinion offered 

by the IQPA. 

Line 13c. Enter the name and EIN of the accountant ( or accounting firm) in the space provided on 

line 13c. Do not use a SSN or any portion thereof in lieu of an EIN. The Schedule DCG is open to 

public inspection, and the contents are public information and are subject to publication on the 

Internet. Because of privacy concerns, the inclusion of a SSN or any portion thereof on this 

Schedule DCG may result in the rejection of the filing. 
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APPENDIX C-PROPOSED CHANGES TO PARTICIPATING EMPLOYER 

INFORMATION UNDER ERISA 103(g) TO 2021 FORM 5500/FORM 5500-SF 

INSTRUCTIONS 

To implement the SECURE Act's amendment of section 103(g) ofERISA, the instructions 

for the multiple-employer plan check box on Part I, line A of the 2021 Form 5500 and Form 5500-

SF would be modified as follows: 

• The participating employer information updated to add reporting of"aggregated account 

balance" information. 

• Pooled employer plans would be required to include in the Section 103(g) attachment 

new "Pooled Employer Plan Information," using the format provided in the instructions. 

• The current graphic in the Form 5500 and Form 5500-SF instructions for Part I, Line A 

"Box for Multiple Employer Plan" entitled "Multiple-Employer Plan Participating Employer 

Information," for the Section 103(g) attachment would be replaced with the following. 

Multiple-Employer Plan Participating Employer Information 

(Insert Name of Plan and EIN/PN as shown on the Form 5500) 

Participating Employer Information 

All multiple-employer pension plans must complete elements 1-4. Multiple-employer welfare plans are required 

to complete elements 1, 2, and 3 only. Multiple-employer welfare plans that are unfunded, fully insured, or a 

combination of unfunded/insured and exempt under 29 CFR 2520.104-44 from the obligation to file financial 

statements with their annual report are required to complete elements 1 and 2 only. Complete as many entries 

as needed to report the required information for all participating employers in the plan. 

1. Name of participating 2. EIN 3. Percent of Total Contributions 4. Aggregate Account Balances Attributable 

employer for the Plan Year Participating Employer 

1. Name of participating 2. EIN 3. Percent of Total Contributions 4. Aggregate Account Balances Attributable 

employer for the Plan Year Participating Employer 

Pooled Employer Plan Information 

Only pooled employer plans complete this section. 

5. Has the pooled plan provider (identified as the plan sponsor and administrator in Part II of the Form 5500) 

acknowledged in writing that it is the named fiduciary? [] Yes [] No 

6. Has the pooled plan provider (identified as the plan sponsor and administrator in Part II of the Form 5500) 

acknowledged in writing that it is the named fiduciary and plan administrator under section 3(16) of ERISA? [] 

Yes [] No 

7. Is the pooled plan provider currently in compliance with the Form PR (Pooled Plan Provider Registration 

Statement) reQuirements? (See instructions and 29 CFR 2510.3-44) .. n Yes n No 
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7a If "Yes" is checked, enter the AcklD for the most recent Form PR that was required to be filed under 

the Form PR filing requirements. (Failure to enter a valid AcklD will subject the Form 5500 filing for any 

PEP operated by the pooled plan provider to rejection as incomplete.) 

AcklD ________ _ 
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APPENDIX D -PROPOSED CHANGES TO 

2022 FORM M-1 AND INSTRUCTIONS 

1. Proposed Changes To 2022 Form M-1-Report for Multiple Employer Welfare 

Arrangements (MEW AS) and Certain Entities Claiming Exceptions (ECES) 

• A new Part IV would be added to the 2022 Form M-1 to read as follows: 

PART IV MEWA PARTICIPATING EMPLOYER INFORMATION 

Only MEWAs are required to complete Part IV. If this filing is an annual report, complete boxes 22a-22f. If this filing is a registration filing, 

complete boxes 22a and 22b only. 

Important. MEWAs that are unfunded, fully insured or combination unfunded/insured complete boxes 22a and 22b only. 

Complete as many repeating entries as needed to identify all participating employers in the plan. 

22a. Name of Participating Employer 22b. EIN 22c. Percentage of Total Contributions for the 

Plan Year 

CAUTION. Do not individually list information for self-employed individuals or other individuals participating in the MEWA that are not 

associated with a particular participating employer. Providing identifying information for individuals may result in rejection of this filing. If 

there are any such individuals in the MEWA, answer "yes" to line 22d and provide the total contribution information for all such individuals on 

box 22e, without providing names or other identifying information. 

22d. Does the MEWA include any self-employed individuals or individuals who are participants or beneficiaries in the MEWA that are not 

associated with a particular participating employer? 

[] Yes [] No 

22e. lf"Yes," enter a good faith estimate of percentage of total contributions made by all such individuals that are not listed on box 22a 

during the plan year. 

2. Proposed changes to 2022 Form M-1 Instructions 

The instructions for Form M-1 would be amended to add the following accompanying 

instructions for Part IV. Complete boxes 22c-22f for annual report only. 

Part IV- MEWA Participating Employer Information 

Important: Only MEW As are required to complete Part IV. If this filing is an annual report, 

complete boxes 22a-22f. lf this filing is a registration filing, complete boxes 22a and 22b only. 

MEW As that are unfunded, fully insured or combination unfunded/insured as described in 29 CFR 

2520.104-44 complete boxes 22a and 22b only. 

Box 22a and 22b. Enter each participating employer in the MEWA during the plan year, 

identified by name and BIN number. Any employer who was obligated to make contributions to the 
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MEW A for the plan year, made contributions to the MEWA for the plan year, or whose employees 

were participants covered under the MEWA is a "participating employer" for this purpose. 

CAUTION. Enter the EIN of the participating employer. Do not enter a SSN in response to 

questions asking for an EIN. Because of privacy concerns, the inclusion of a SSN on the Form M-1 

or on an attachment that is open to public inspection may result in the rejection of the filing. 

Box 22c. Enter a good faith estimate of the participating employer's percentage of the total 

contributions made by all participating employer (including the total contribution amount for 

individuals reported on box 22d) during the plan year. If a participating employer made no 

contributions for the plan year (including participant contributions), enter" -0-" on line 2c. 

Box 22d. If the MEW A includes any self-employed individuals or other individuals 

participating in the MEW A that are not associated with a particular participating employer, answer 

"Yes" to box 22d and complete box 22e. Do not identify such individuals on box 22a. 

Box 22e. If the answer to box 22d is "Yes," enter a good faith estimate of percentage of 

total contributions made by such individuals that are not listed on box 22a without providing names 

or other identifying information. 

NOTE. Group insurance arrangements (GIAs) that filed a Schedule D with its Form 5500 for the 

current plan year are not required to complete Part IV. See the "Who Must File" paragraph in 

Section 1 and 29 CFR 2520.104- 43 for a description of a GIA and when a GIA may file a 

consolidated Form 5500 on behalf of participating plans in the GIA. 
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APPENDIX E - OTHER PROPOSED CHANGES TO 2022 FORM 5500, FORM 5500-SF, 

FORM 5500-EZ, SCHEDULES and INSTRUCTIONS 

1. Proposed Changes to Instructions to 2022 Form 5500 and Form 5500-SF for Part I, 

"Multiple Employer Plan Checkbox." 

• Instructions for 2022 Form 5500. The instructions for Part I, Line A - "Box for MultipleEmployer Plan" would be modified as follows: 

• Second paragraph - Delete the phrase "multiple-employer pension plans" and add the 

phrase "and not required to file a Form M-1 (Report for Multiple Employer Welfare Arrangements 

(MEW As) and Certain Entities Claiming Exception (ECEs)), for example, multiple-employer 

welfare plans providing life or disability benefits," after the phrase "multiple-employer welfare 

plans required to file a Form 5500." 

• Third paragraph- Delete the phrase "Multiple-Employer Plan Participating Employer 

Information" and replace with the phrase "Participating Employer lnfonnation for MultipleEmployer Welfare Plan Not Providing Medical Benefits." 47 

Replacing the current graphic in the Form 5500 for Part I, Line A "Box for Multiple-Employer Plan" entitled 

"Multiple-Employer Plan Participating Employer Information," with the following: 

Participating Employer Information for Multiple-Employer Welfare Plan Not Providing Medical Benefits 

(Insert Name of Plan and EIN/PN as shown on the Form 5500) 

1. Name of participating employer 2. EIN 3. Percent of Total Contributions for 

the Plan Year 

1. Name of participating employer 2. EIN 3. Percent of Total Contributions for 

the Plan Year 

• Add the following "Note" paragraph after the graphic. 

Note. Do not report the participating employer information as an attachment for multipleemployer pension plans or multiple-employer welfare plans offering or providing medical benefits. 

'

17 For 2022, it would be expected that this information would be entered as structured repeating line items or in a format 

that would be imported into the system, rather than a nonstandard, read-only attachment. 
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Multiple-employer pension plans report the participating employer information on Schedule MEP. 

Multiple-employer welfare plans that offer or provide medical benefits report the participating 

employer information on Form M-1 (Report for Multiple Employer Welfare Arrangements 

(MEW As) and Certain Entities Claiming Exception (ECEs)). 

• The accompanying instructions for the "Box for Multiple-Employer Plan" on the 2021 Form 

5500-SF at Part I, line A, Annual Report Identification Information would be revised to read the 

same as the instructions for the 2022 Form 5500 described above, except all references to "Form 

5500" would be changed to "Form 5500-SF." 

2. Proposed Changes to 2022 Schedule H and Instructions to Standardize Data Collection 

For Schedule H, Line 4i Schedules of Assets 

• Instructions for Schedule H. Instructions for Part IV, line 4i of the 2022 Schedule H 

would be modified to read as follows: 

Line 4i. Schedules of Assets. Check "Yes" in elements (1) and/or (2) and complete, as 

appropriate, the "line 4i(l) Schedule of Assets Held for Investment at End of Year" and the "line 

4i(2) Schedule of Assets Acquired and Disposed of During the Plan Year." You may not create 

your own schedules of assets in the form of an attachment or otherwise. You must complete the 

schedule through IFile or using EF AST-approved third-party software. If the plan both disposed of 

assets during the plan year and held assets for investment at end of year, you must complete both 

the lines 4i(l) and 4i(2) schedules. Generally, plans that are ongoing must answer "Yes" to line 

4i(l) and complete the "line 4i(l) Schedule of Assets Held for Investment at End of Year." 

Notes: (1) Participant loans under an individual account plan with investment experience 

segregated for each account, that are made in accordance with 29 CFR 2550.408b-1 and that are 
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secured solely by a portion of the participant's vested accrued benefit, may be aggregated for 

reporting purposes in line 4i. Under identity of borrower enter "Participant loans," under rate of 

interest enter the lowest rate and the highest rate charged during the plan year ( e.g., 8%-10% ), 

under the cost and proceeds columns enter zero, and under current value enter the total amount of 

these loans. (2) Column ( d) cost information for the line 4i(l) Schedule of Assets Held for 

Investment at End of Year and the column ( c) cost of acquisitions information for the line 4i(2) 

Schedule of Assets Disposed of During the Plan Year may be omitted when reporting investments 

of an individual account plan that a participant or beneficiary directed with respect to assets 

allocated to his or her account (including a negative election authorized under the terms of the plan). 

Likewise, cost information for investments in Code sections 403(b)(l) annuity contracts and Code 

section 403(b )(7) custodial accounts may also be omitted. (3) Investments in Code section 

403(b )(1) annuity contracts and Code section 403(b )(7) custodial accounts generally may also be 

treated as one asset held for investment for purposes on the line 4i schedules. For Code section 

403(b )(7) accounts, show the corresponding line 1 b(S)(A) categories to show the types of 

investment accounts. 

Line 4i(l ). Schedule of Assets Held for Investment at End of Year. Assets held for 

investment purposes for purposes of the line 4i(l) Schedule of Assets Held for Investment at End of 

Year include all investment assets held by the plan on the last day of the plan year other than cash 

and cash equivalents reported on Schedule H, line la. You must complete the Schedule of Assets 

Held for Investment at End of Year if you answered "Yes" to line 4(i)(l). 

Complete as many entries in each element as needed to identify all assets held for 

investment at end of year. Although a format is shown in the instructions for informational 

purposes, you cannot create your own schedules of assets, but must complete the schedules through 

!File or using EF AST-approved third-party software. 
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Schedule H, Line 4i(l) Schedule of Assets Held for Investment 

a Check if issuer, borrower, lessor h Name of issuer, c Check if asset d CUSIP, CIT<, LEI, eCost 

or similar party is a party-in- borrower, lessor, or is hard-to-value NAIC Company Code, 

interest [] similar party asset [] other registration 

number: 

f(l) Indicate Sch. H, line lb asset g Description of h Current value i. If a checkbox for f(3) 

categoi:y. investment, including, as or f(4) is checked, enter 

applicable share class, the total annual 

(2) [] Check here if entry in f(l) is maturity date, rate of operating expenses for 

held through a CCT or PSA that interest, par or maturity the designated 

did not file a Form 5500. value, including whether investment alternative 

asset/investment is expressed as a 

(3) [] Check here if the asset is a subject to surrender percentage of assets 

designated investment alternative charge. See instructions that was furnished to 

in a defined contribution plan for reporting assets held participants and 

through a participant- beneficiaries in their 

(4) [] Check here if the asset is a 

directed brokerage most recent "404a-5 

account. statement. qualified default investment 

alternative in a defined 

contribution plan 

(5)0 Check here if the asset is 

held in a participant-directed 

brokerage account that is required 

to be broken out and separately 

reported (see instructions for 

reporting assets held through a 

participant-directed brokerage 

account) 

For each asset held directly by the plan or investing filing entity, complete elements (a)-(i). 

Participant-directed brokerage account assets reported in the aggregate on line lc(l5) 

generally may be treated as one asset held for investment for purposes here, except investments in 

tangible personal property, loans, partnership or joint venture interests, real property, employer 

securities, and investments that could result in a loss in excess of the account balance of the 

participant or beneficiary who directed the transaction must be reported as separate aggregations of 

assets on line 4i(l), with an indication of which of the line le breakouts on which that the asset was 

reported in the balance sheet. 

Element (a). Check the box in element a if the issuer of the investment is a person known 

to be a party-in-interest to the plan. This includes when the seller, issuer, lender, or similar party is 
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the employer, employee organization, a service provider to the plan, or other party interest, 

including a subcontractor or affiliate. 

Element (b). Enter the name of the seller, issuer, lender, or similar party. If the person is a 

plan sponsor, service provider, or DFE also identified on the Form 5500, Schedule C or any other of 

the Schedule H line 4 schedules, or is a DFE that files its own Form 5500, use the same name in all 

places. 

Element (c). Check here if the asset is a "hard-to-value" asset. Assets that are not listed on 

any national exchanges or over-the-counter markets, or for which quoted market prices are not 

available from sources such as financial publications, the exchanges, or the National Association of 

Securities Dealers Automated Quotations System (NASDAQ), are required to be identified as hardto-value assets on the Schedule of Assets Held for Investment at End of Year. Bank collective 

investment funds or insurance company pooled separate accounts that are primarily invested in 

assets that are listed on national exchanges or over-the-counter markets and are valued at least 

annually need not be identified as hard-to-value assets. CCTs or PSAs invested primarily in hardto-value assets must also be identified as a hard-to-value asset. A non-exhaustive list of examples 

of assets that would be required to be identified as hard-to-value on the proposed schedules of assets 

is: non-publicly traded securities, real estate, private equity funds; hedge funds; and real estate 

investment trusts (REITs). Check this box for all assets designated as "level 3" in the 

accompanying IQP A report. 

Element ( d). If the person is a plan sponsor, service provider, or direct filing entity also 

identified on the Form 5500, Schedule C, or Schedule D, or any other of the Schedule H line 4 

schedules, or is a DFE that files its own Form 5500, use the same identification numbers in all 

places. If the person identified in element c, has a CUSIP, CIK number, LEI, NAIC Company 
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Code, or other government or market exchange registration or identity number, you must include all 

that apply here. 

Element (e). Enter the acquisition cost of the asset. 

Element (f). Enter in element f(l) which category the asset was part of the total on line lb 

and check all applicable boxes. 

Element (g). Enter a description of the investment, including, as applicable maturity date, 

rate of interest, par, or maturity value, including whether asset/investment is subject to surrender 

charge. Include any restriction on transferability of corporate securities. (Include lending of 

securities permitted under Prohibited Transactions Exemption 81-6.) 

Element (h). Enter current value. For purposes of the Form 5500, "current value" means 

fair market value where available. Otherwise, it means the fair value as determined in good faith 

under the terms of the plan by a trustee or a named fiduciary, assuming an orderly liquidation at 

time of the determination. See ERISA section 3(26). 

Element i. If the checkbox for element f(3) or f(4) is checked, enter the total annual 

operating expenses for the designated investment alternative expressed as a percentage of assets that 

was furnished to participants and beneficiaries in their most recent 404a-5 statement. 

Line 4i(2) Assets Acquired and Disposed of During Plan Year. Complete as many 

entries in each element as needed to identify all acquired and disposed of during the year. 

Although the format is shown in the instructions for informational purposes, you cannot create your 

own schedules of assets, but must complete the schedules through !File or using EF AST-approved 

third-party software. 
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You must identify on the line 4i(2) Schedule each investment asset sold during the plan year 

except: 

1. Debt obligations of the U.S. or any U.S. agency. 

2. Interests issued by a company registered under the Investment Company Act of 1940 

(e.g., a mutual fund). 

3. Bank certificates of deposit with a maturity of one year or less. 

4. Commercial paper with a maturity of 9 months or less if it is valued in the highest rating 

category by at least two nationally recognized statistical rating services and is issued by a company 

required to file reports with the Securities and Exchange Commission under section 13 of the 

Securities Exchange Act of 1934. 

5. Participations in a bank common or collective trust. 

6. Participations in an insurance company pooled separate account. 

7. Securities purchased from a broker-dealer registered under the Securities Exchange Act 

of 1934 and either: (1) listed on a national securities exchange and registered under section 6 of the 

Securities Exchange Act of 1934 or (2) quoted on NASDAQ. 

Assets acquired and disposed of during the plan year shall not include any investment that 

was not held by the plan on the last day of the plan year if that investment is reported in the annual 

report for that plan year in any of the following: 

1. The schedule of loans or fixed income obligations in default required by Schedule G, Part 

I· ' 
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2. The schedule ofleases in default or classified as uncollectible required by Schedule G, 

Part II; 

3. The schedule of nonexempt transactions required by Schedule G, Part III; or 

4. The schedule of reportable transactions required by Schedule H, line 4j. 

You must complete the "Schedule of Assets Acquired and Disposed of During the Plan 

Year'' if you answered "Yes" to line 4(i)(2). 

Schedule H, Line 4i(2) Schedule of Assets Acquired and Disposed of During the Plan Year 

a Check if issuer, borrower, b Name of issuer, c Check if asset is d EIN, CUSIP, e Indicate Sch. H, 

lessor or similar party is borrower, lessor, or hard-to-value asset CIK., LEI, NAIC line 1 c asset 

party-in-interest [] similar party Company Code, category. 

other registration 

number: 

fCost g Sales price h Total expenses i Net gain/loss j Description of 

incurred with investment, 

disposal of asset, including, as 

including any applicable share 

termination or class, maturity 

surrender charges date, rate of 

interest, par or 

maturity value, 

including 

whether 

asset/investment 

is subject to 

surrender charge. 

See instructions 

for reporting 

assets held 

through a 

participantdirected 

brokerage 

account 

Element (a). Indicate in element (a) whether the seller, issuer, lender, or similar party is 

the employer, employee organization, or other party interest, including a subcontractor or affiliate. 
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Element (b). Enter the name of the seller, issuer, lender, or similar party. If the person is a 

plan sponsor, service provider, or direct filing entity also identified on the Form 5500, Schedule C, 

or Schedule D, or any other of the Schedule H line 4 schedules, use the same name in all places. If 

the asset was held through a master trust, 103-12 IE, CCT, or PSA provide the name, EIN and PN 

of the entity. For DFEs use the same identifying information used on the entity's own Form 5500. 

Element (c). Check here if the asset is a "hard-to-value" asset. Check this box for all assets 

designated as "level 3" in the accompanying IQPA report. 

Element (d). In element (d) enter the EIN of issuer, borrower, lessor, similar party. If the 

person is a plan sponsor, service provider, or direct filing entity also identified on the Form 5500, 

Schedule C, or Schedule D, or any other of the Schedule H, line 4 schedules, use the same name in 

all places. Also enter, separated by commas, if applicable, the CUSIP, CIK, LEI, NAIC Company 

Code, or other registration number. 

Element (e). Enter in element (e) in which category the asset was part of the total on line 

l(b). 

Element (f). Enter the acquisition cost here. 

Element (g). Enter the sale price. 

Element (h). Enter the total expenses incurred with disposal of asset, including any 

termination or surrender charges. 

Element (i). Enter the net gain (loss) on the asset 

Element G). Enter a description of the investment, including maturity date, rate of interest, 

collateral, par, or maturity value. 
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3. Proposed Changes to Form 5500, Form 5500-SF and Instructions on counting 

participants for determining small plan filing status for defined contribution plans 

• Instructions to 2022 Form 5500. Instructions to Section 4, "What to File" section of 

the 2022 Form 5500 would be modified to delete the paragraph above the "Exceptions" section and 

replace with the following paragraph: 

To determine whether a plan is a "small plan" or "large plan," for defined benefit pension 

plans and welfare plans, use the number reported on Form 5500, line 5. Defined contribution 

pension plans use the number reported on the Form 5500 line 6g(l), except use the number reported 

on the Form 5500 line 6g(2) for defined contribution pension plans that check the "first 

return/report box on Part I, line B. 

• Instructions to 2022 Form 5500. Instructions to "80-120 Participant Rule" paragraph 

in Section 4, "What to File," "Exceptions" section of the 2022 Form 5500 would be modified by 

deleting the phrase "on line 5" in the first sentence and deleting the phrase "line 5 of the" in the 

second sentence. 

• Instructions to 2022 Form 5500. Instructions to "Short Plan Year Rule" paragraph in 

Section 4, "What to File," "Exceptions" section of the 2022 Form 5500 would be modified by 

amending the last sentence to eliminate the reference at the end to Line 5: 

(1) Short Plan Year Rule: *** 

If such an election was made for the prior plan year, the 2022 Form 5500 must be completed 

following the requirements for a large plan, including the attachment of the Schedule H and the 

accountant's reports, regardless of the number of participants entered in Part II. 
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• 2022 Form 5500. Line 6 of Part II of 2022 Form 5500 would be modified by amending 

line 6, renumbering 6g as line 6g(2) and adding line 6g(l), to read as follow: 

6. Number of participants (welfare plans complete only Lines 6a(1), 6(a)(2), 6b, 7c, 7d, 

and 7e:f3ll. 

*** 

g(1) Number of participants with account balances as of the beginning of the plan year (only 6g(1) 

defined contribution plans complete this item) ....................................................... 

g(2) Number of participants with account balances as of the end of the plan year (only 6g(2) 

defined contribution plans complete this item) ....................................................................... 

• Instructions to 2022 Form 5500. Instructions to line 6g of Part II of 2022 Form 5500 

would be modified to read as follows: 

Line 6. Number of participants (welfare plans complete only Lines 6a(l), 6(a)(2), 6b, 7c, 7d, 

and 7g(3)). 

Line 6g. Enter in Line 6g(l) the number of participants who have account balances at the 

beginning of the plan year. Enter in Line 6g(2) the number of participants included on line 6f (total 

participants at the end of the plan year) who have account balances at the end of the plan year. For 

example, for a Code section 401(k) plan the number entered on line 6g should be the number of 

participants counted on line 6fwho have made a contribution, or for whom a contribution has been 

made to the plan for this plan year or any prior plan year. Welfare benefit plans and defined benefit 

plans should leave line 6g blank. 

• Instructions to 2022 Form 5500-SF. Instructions to "Who May File" section of the 

2022 Form 5500-SF would be modified by amending paragraph (1) to read as follows. 

1. The plan (a) covered fewer than 100 participants at the beginning of the plan year 2022, 

or (b) under 29 CFR 2520.103-1( d) was eligible to and filed as a small plan for plan year 2022 and 

did not cover more than 120 participants at the beginning of plan year 2020. To determine whether 
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a plan is eligible, for defined benefit pension plans and welfare plans, use the number reported on 

Form 5500-SF line 5a. Defined contribution pension plans use the number reported on the Form 

5500-SF line 5c(l), except use the number reported on the Form 5500-SF line 5c(2) for defined 

contribution pension plans that check the "first return/report box on Part I, line B; 

• 2022 Form 5500-SF. Line 5c of Part II of 2022 Form 5500-SF will be renumbered as 

line 5c(2) and line 5c(l) would be added to read as follow: 

c(l) Number of participants with account balances as of the beginning of the plan year Sc(l) 

(only defined contribution plans complete this item) ......................................... 

c(2) Number of participants with account balances as of the end of the plan year (only 5c(2) 

defined contribution plans complete this item) ..................................................................... 

• Instructions to 2022 Form 5500-SF. Instruction to second sentence ofline 5 of Part II 

of 2022 Form 5500-SF will be deleted and replaced with the following two sentences as follows. 

Line 5. *** 

Enter in element (c)(l) the number of participants who have account balances with account 

balances as of the beginning of the plan year. Enter in element (c)(2) the number of participants 

included on line 5b (total participants at the end of the plan year) who have account balances at the 

end of the plan year. 

• Instructions to 2022 Form 5500-SF. Instruction to line 6 of Part II of 2022 Form 5500-

SF would be modified by amending paragraph (1) to read as follows: 

1. The plan (a) covered fewer than 100 participants at the beginning of the plan year 2022, 

or (b) under 29 CFR 2520 .103-1 ( d) was eligible to and filed as a small plan for plan year 2019 and 

did not cover more than 120 participants at the beginning of plan year 2020 (see instructions for 

Who May File Form 5500-SF on counting the number of participants to determine whether a plan is 

eligible); 
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4. Proposed Changes to 2022 Schedule MB, Schedule SB and Schedule R, and their 

Instructions to Improve PBGC Reporting. 

• Instructions to 2022 Schedule MB. Instructions for line 3 of the 2022 Schedule MB 

would be modified to read as follows: 

Line 3. Contributions Made to Plan. Show all employer and employee contributions for 

the plan year. Include employer contributions made not later than 21⁄2 months ( or the later date 

allowed under Code section 43 l(c)(8) and ERISA section 304( c)(8)) after the end of the plan year. 

Show only contributions actually made to the plan by the date this Schedule MB is signed. 

Add the amounts in both columns (b) and ( c) and enter both results on the total line. All 

contributions must be credited toward a particular plan year. 

If any of the contributions reported in line 3 include amounts owed for withdrawal liability, 

report in line 3(d) the total withdrawal liability amounts included. Attach a list showing the date 

and amount of each withdrawal liability amount included, broken down between periodic amounts 

and lump sum amounts. -Label this attachment "Schedule MB, Line 3(d) - Withdrawal Liability 

Amounts". 

Schedule MB Line 3(d)- Withdrawal Liability Amounts 

Payment Date Periodic Amounts Lump Sum Amounts Total Amounts 

• 2022 Schedule MB. Line 4f of the 2022 Schedule MB would be modified to read as 

follows: 

f If the plan is in critical status or critical and declining status, and is: 

• Projected to emerge from critical status within 30 years, enter the plan 

4f 

year in which it is projected to emerge; 
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• Projected to become insolvent within 30 years, enter the plan year in 

which insolvency is expected and check here .......................................... □ 

• Neither projected to emerge from critical status nor become insolvent 

within 30 years, enter "9999." 

• Instructions to 2022 Schedule MB. Instructions for line 4f of the 2022 Schedule MB 

would be modified to read as follows: 

Line 4f. If Code C (Critical Status) or Code D (Critical and Declining Status) was entered 

on line 4b you must complete line 4f as follows: 

If, based on the most recent actuarial certification for the plan year and the most recently 

adopted rehabilitation plan, the plan is: 

• Projected to emerge from critical status within 30 years, enter the plan year in which the 

plan is projected to emerge from critical status. 

• Projected to become insolvent within 30 years, check the box provided, enter the plan 

year in which the insolvency is expected. In addition, attach an illustration showing year-by-year 

cash flow projections for the period ending with the year the plan is projected to become insolvent 

(or the 20th year after the valuation year if earlier) and a summary of the assumptions underlying 

the projections. Label this attachment "Schedule MB, Line 4/- Cash Flow Projections". 

• Neither projected to emerge from critical status nor become insolvent within 30 years, 

enter "9999." In addition, attach an illustration showing year-by-year cash flow projections ending 

with the 20th year after the valuation year and a summary of the assumptions underlying the 

projections. Label this attachment "Schedule MB, Line 4/- Cash Flow Projections". 

• 2022 Schedule MB. Lines 6e and 6f would be modified and line 6i would be added to 

the 2022 Schedule MB, to read as follows: 

6 Checklist of actuarial assum tions 

a Interest rate for 'RP A 94 current liabili '.......... ... . .... .... . .. . . .. .. . ... . .... .... . .. . . .. .. . ... . .... .... . .. . . .. .. . ... . .... . . 6a 
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b Rates s ecified in insurance or annui contracts ............ . 

c Mortali table code for valuation oses: 

(1) Males.............................................................. 6c(l) 

(2) Females .......................................................... 6c(2) 

6d 

6e 

6f 

Estimated investment return on actuarial value of assets for ear endin 

% 

% NIA 

NIA 

h Estimated investment return on market value of assets for ear endin on the valuation date ..... 

i Expense loading included in normal cost reported in line 9b 

% 

% 

NIA 

( 1) lf expense load is described as a percentage of normal cost, enter the assumed percentage ... 6i(l) % 

(2) lf expense load is dollar amount that varies from year to year, enter dollar amount included 6i(2) 

in line 9b ................................................................................................................................. . 

(3) lfneither (1) nor (2) describes the expense load, check the box ............................................ 6i(3) □ 

• Instructions to 2022 Schedule MB. Instructions for lines 6e and 6f would be modified 

and for line 6i would be added to the 2022 Schedule MB, to read as follows: 

Line 6e. Salary Scale. If a uniform level annual rate of salary increase is used, enter that 

annual rate. Otherwise, enter the level annual rate of salary increase that is equivalent to the rate(s) 

of salary increase used. Enter the annual rate as a percentage to the nearest . 01 percent, used for a 

participant from age 25 to assumed retirement age. If the plan's benefit formula is not related to 

compensation, check the "NI A" box. 

Line 6f. Withdrawal Liability Interest Rate. If any employer withdrew from the plan 

during the plan year, enter the interest rate used to determine the present value of vested benefits for 

withdrawal liability determinations. If multiple interest rates were used (e.g., select and ultimate 

rates under ERISA 4044 or blended liabilities reflecting different interest rate structures), report the 

single equivalent interest rate that produces the same present value of vested benefits for withdrawal 

liability determinations. 
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If different interest rates were used for different employers that withdrew during the plan 

year, report the weighted average interest rate used for this purpose (weighted by the applicable 

withdrawal liability amount). If no employers withdrew from the plan during the plan year, check 

"NIA". 

Line 6i. Expense Loading Included in Normal Cost. If the normal cost reported in line 

9b does not include a load for administrative or investment expenses, check the "NI A" box. 

Otherwise, provide information in lines 6i(l), 6i(2), or 6i(3), whichever is applicable, about the 

expense load included in the normal cost. If the expense load is described as a percentage of normal 

cost, the reported percentage in line 6i(l) should be the expense load as a percent of the unloaded 

normal cost. For example, if the expense load is 5% of the normal cost, the unloaded normal cost is 

$100,000 and the reported normal cost is $105,000, enter 5%, not 4.8% (i.e., $5,0001$105,000). 

Enter rates to the nearest 0.1 percent. 

• 2022 Schedule MB. The title for line 8b would be modified and new lines 8b(3) and 

8b( 4) would be added to the 2022 Schedule MB to read as follows: 

8 Miscellaneous Information 

a If a waiver of a funding deficiency has been approved for this plan year, enter the I 8a 

date (MM-DD-YYYY) of the ruling letter granting the approval ........................... 

b Demographic, benefit, and contribution information 

(1) Is the plan required to provide a projection of expected benefit payments? □ Yes □ No 

(See the instructions.) If "Yes," attach a schedule ....................................................................... 

(2) Is the plan required to provide a Schedule of Active Participant Data? □ Yes □ No 

(See the instructions.) .................................................................................................................... 

(3) Is the plan required to provide a projection of employer contributions and withdrawal liability □ Yes □ No 

payments? (See instructions.) If "Yes," attach a schedule .......................................................... 

( 4) If line 8b(l) is "Yes", enter the average age and average monthly (2) Retired 

benefits, as of the valuation date separately for terminated vested Participants and 

participants and retired participants and beneficiaries receiving (1) Terminated Beneficiaries 

payments Vested Participants Receivine Payments 

(a) Average age as of the valuation date ............................................ 

(b) Average monthly benefit as of valuation date .............................. 
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• Instructions to 2022 Schedule MB. Instructions for lines 8b(l) and 8b(2) would be 

modified and instructions for lines 8b(3) and 8b( 4) would be added to the 2022 Schedule MB, to 

read as follows: 

Line 8b(l). Schedule of Projection of Expected Benefit Payments. Check "Yes" only if 

this is a multi employer plan covered by Title IV of ERISA that has 500 or more total participants as 

of the beginning of the plan year (i.e., reported on line 2b(3)(c), column (1)). 

If line 8b(l) is "Yes," in an attachment, provide a projection of benefits expected to be paid 

separately for active participants, terminated vested participants, and retired participants and 

beneficiaries receiving payments, and for the entire plan (not to include expected expenses) in each 

of the next fifty years starting with the current plan year of this filing assuming (1) no additional 

accruals, (2) experience (e.g., termination, mortality, and retirement) are in line with valuation 

assumptions, (3) no new entrants are covered by the plan, and ( 4) benefits are paid in the form 

assumed for valuation purposes. Use the format shown below. The attachment may be provided in a 

spreadsheet file. Label this attachment "Schedule MB, Line 8b(l) - Schedule of Projection of 

Expected Benefit Payments". 

Schedule MB, Line 8b(l) - Schedule of Pro_iection of Expected Benefit Payments 

Expected Annual Benefit Payments 

Retired 

Participants and 

Terminated Beneficiaries 

Active Vested Receiving 

Plan Year Participants Participants Payments 

Current Plan Year 

Current Plan Year+ 1 

Etc. 

Current olan vear + 49 

Line 8b(2). Schedule of Active Participant Data. Check "Yes" only if this is a 

multi employer plan covered by Title IV of ERISA that has active participants. 

Total 
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If line 8b(2) is "Yes," attach a schedule of the active plan participant data used in the 

valuation for this plan year. The attachment may be provided in a spreadsheet file. Use the format 

shown below and label the attachment "Schedule MB, Line 8b(2) - Schedule of Active 

Participant Data". 

Schedule MB, Line 8b(2) - Schedule of Active Participant Data 

YEARS OF CREDITED SERVICE ,.: 

Under 1 1 to4 5to9 ii: 40&up 

Attained Average Average Average ti Average 

Age Accrued Accrued Accrued ii: Accrued 

Mon Mon Mon • Mon •• No Comp. Ben No Comp. Ben No Comp. Ben • No Comp. Ben ''"'' Under M: 

:ti 25 . , 

25 to 29 • 

30 to 34 :t 

35 to 39 • Ii: 

40 to 44 • •• 45 to 49 I 50 to 54 •· 55 to 59 ,. 

'I 60 to 64 '' ' 

65 to 69 I' 70&up ,Ji,\!;: 

Expand this schedule by adding columns after the "5 to 9" column and before the "40 & up" 

column for active participants with total years of credited service in the following ranges: 10 to 14; 

15 to 19; 20 to 24; 25 to 29; 30 to 34; and 35 to 39. For each column, enter the number of active 

participants with the specified number of years of credited service divided according to age group. 

For participants with partial years of credited service, truncate the total number of years-credited. 

Years of credited service are the years credited under the plan's benefit formula. 

Plans reporting 1,000 or more active participants on line 2b(3)(c), column (1), and using 

compensation to determine benefits must also provide average compensation data. For each 

grouping, enter the average compensation of the active participants in that group. For this purpose, 

compensation is the compensation taken into account for each participant under the plan's benefit 
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formula, limited to the amount defined under section 401(a)(l 7) of the Code. Do not enter the 

average compensation in any grouping that contains fewer than 20 participants. 

Plans reporting 1,000 or more active participants on line 2b(3)(c), column (1), must also 

provide average accrued monthly benefits, as of the valuation date, that are payable at normal 

retirement age. For each grouping, enter the average accrued monthly benefit that is payable at 

normal retirement age for the active participants in that group. Do not enter the average accrued 

monthly benefit in any grouping that contains fewer than 20 participants. 

General Rule. In general, data to be shown in each age/service bin includes: 

1. the number of active participants in the age/service bin, 

2. the average compensation of the active participants in the age/service bin, and 

3. the average accrued monthly benefit of the active participants in the age/service bin, 

using $0 for anyone who has no accrued monthly benefit. 

In general, information should be determined as of the valuation date. Average accrued 

monthly benefits may be determined as of either: 

1. the valuation date or 

2. the day immediately preceding the valuation date. 

Line 8b(3). Schedule of Projection of Employer Contributions and Withdrawal 

Liability Payments. Check "Yes" only if this is a multiemployer plan covered by Title IV of 

ERISA that has 500 or more total participants as of the beginning of the plan year (i.e., reported on 

line 2b(3)(c), column (1)). If line 8b(3) is "Yes," in an attachment, separately provide a projection 

of employer contributions and withdrawal liability payments expected to be received for the entire 

plan in each of the next ten years starting with the current plan year of this filing based on the 
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assumptions used for to determine the plan's status under line 4b. Use the format shown below and 

label the schedule "Schedule MB, Line 8b(3) - Schedule of Projection of Employer Contributions 

and Withdrawal Liability Payments". 

Schedule MB, Line 8b(3) - Schedule of Projection of Employer Contributions and 

W' It hd raw al L' 13 bil' dy P ayments 

Employer Withdrawal 

Plan Year Contributions Liability Payments Total 

Current Plan Year 

Current Plan Year + 1 

Etc. 

Current olan vear + 9 

Line 8b(4)(a). Average Age. If line 8b(l) is "Yes," enter the average age nearest birthday, 

as of the beginning of the plan year, separately for terminated vested participants and retired 

participants and beneficiaries receiving payments. 

Line 8b(4)(b). Average Monthly Benefits. If line 8b(l) is "Yes," enter the average 

monthly benefit, as of the beginning of the plan year payable to terminated vested participants, 

assuming commencement at normal retirement age and the average monthly benefit paid during the 

month containing the valuation date to retired participants and beneficiaries receiving payments. 

Enter the monthly benefits in rounded whole dollars. 

• 2022 Schedule SB. Line 26 would be modified in Part VI of the 2022 Schedule SB to 

read as follows: 

26. Demographic and Benefit Tnfonnation 

a. Is the plan required to provide a Schedule of Active Participants? If"Yes," see instructions □ Yes □ No 

regarding required attachment .................................................................................................. 

b. Is the plan required to provide a projection of expected benefit payments? (See instructions.) □ Yes □ No 

If "Yes," attach a schedule? ...................................................................................................... 

c. If line 26b is "Yes," enter the average age and average monthly benefits, 

as of the valuation date separately for terminated vested participants and (a) Terminated (b) Retired 

retired participants and beneficiaries receiving payments Vested Participants and 

Participants Beneficiaries 
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Receiving 

Payments 

(1) Average age as of the valuation date ................................................... 

(2) Average monthly benefit as of valuation date ..................................... 

• Instructions to 2022 Schedule SB. The first two paragraphs of the instructions for line 

26 (now line 26a) would be modified to reference line 26a instead of line 26 as shown below. In 

addition, instructions for lines 26b and 26c would be added as follows: 

Line 26a. Schedule of Active Participant Data. Check "Yes" only if (a) the plan is 

covered by Title IV of ERISA and (b) the plan has active participants. 

If line 26a is "Yes," attach a schedule of the active plan participant data used in the 

valuation for this plan year. Use the format shown on the following page and label the schedule 

"Schedule SB, Line 26a - Schedule of Active Participant Data." 

Line 26b. Schedule of Projection of Expected Benefit Payments. Check "Yes" only if 

this plan is covered by Title IV ofERISA and has 500 or more total participants as of the valuation 

date. 

If line 26b is "Yes," in an attachment, provide a projection of benefits expected to be paid 

separately for active participants, terminated vested participants, and retired participants and 

beneficiaries receiving payments, and for the entire plan (not to include expected expenses) in each 

of the next fifty years starting with the current plan year of this filing assuming (1) no additional 

accruals, (2) experience (e.g., termination, mortality, and retirement) are in line with valuation 

assumptions, (3) no new entrants are covered by the plan, and ( 4) benefits are paid in the form 

assumed for valuation purposes. Use the format shown below. The attachment may be provided in a 

spreadsheet file. Label this attachment "Schedule SB, Line 26b - Schedule of Projection of 

Expected Benefit Payments 
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c e u e ' S h d I SB L" me 26b - S h d c e u I eo f P ro.1ection . o fE xpecte dB ene fl It P ayments 

Expected Annual Benefit Payments 

Retired 

Participants and 

Terminated Beneficiaries 

Active Vested Receiving 

Plan Year Participants Participants Payments Total 

Current Plan Year 

Current Plan Year+ 1 

Etc. 

Current plan vear + 49 

Line 26c(l). Average Age. If 26b is "Yes," enter the average age nearest birthday, as of the 

valuation date, separately for terminated vested participants and retired participants and 

beneficiaries receiving payments. 

Line 26c(2). Average Monthly Benefits. If 26b is "Yes," enter the average monthly 

benefit, as of the valuation date payable to terminated vested participants, assuming commencement 

at normal retirement age and the average monthly benefit paid during the month containing the 

valuation date to retired participants and beneficiaries receiving payments. Enter the monthly 

benefits in rounded whole dollars. 

• 2022 Schedule SB. The title for Part IX of the 2022 Schedule SB and line 41 would be 

modified and replaced with the following: 

Pension Funding Relief under the American Rescue Plan Act of 2021 (See instructions.) 

41 lf an election was made to use the extended amortization rule for a plan year beginning on or before 

December 31, 2021, check the box to indicate the first plan year for which the rule 

a lies. □ 2019 □ 2020 □ 2021 

• Instructions to 2022 Schedule SB. The instructions for Part IX would be modified 

and replaced with the following: 

Part IX - Pension Funding Relief under the American Rescue Plan Act of 2021 
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Line 41. If an election was made under Code section 403(c)(8) or ERISA section 303(c)(8) 

to apply the extended amortization rule for a plan year beginning on or before December 31, 2021, 

check the box to indicate the first plan year for which the rule applies (i.e., the box for the 2019, 

2020, or 2021 plan). 

• Instructions to 2022 Schedule R. Line 13 would be modified in the instructions for 

Part V of the 2022 Schedule R to read as follows: 

Line 13. This line should be completed only by multiemployer defined benefit pension 

plans that are subject to the minimum funding standards (see Code section 412 and Part 3 of Title I 

of ERIS A). Enter the information on lines 13a through 13e for any employer that, for the plan year, 

(1) contributed more than five percent of the plan's total contributions or (2) was one of the top ten 

highest contributors. List employers in descending order according to the dollar amount of their 

contributions to the plan. Complete as many entries as are necessary to list all employers required to 

be reported. 

5. Proposed Changes to 2022 Schedule H, Schedule I, Form 5500-SF, Form 5500-EZ And 

Their Instructions To Add New Trust Questions 

• 2022 Schedules H and I. The following Trust Information questions, lines 6a-6d, 

would be added as new Part V of 2022 Schedule H and Part Ill of 2022 Schedule I: 

Trust Information 

Line 6a. Name of trust 

Line 6b. Trust EIN 

Line 6c. Name of trustee/custodian 
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Line 6d. Trustee's or custodian's telephone number 

• 2022 Form 5500-SF. Trust Information questions identical to lines 6a-6d of Schedules 

Hand I shown above would be added to 2022 Form 5500-SF as new Part VIII, lines 14a-14d. 

• 2022 Form 5500-EZ. Trust Information questions identical to lines 6a-6d of Schedules 

Hand I shown above would be added to Part II of2022 Form 5500-EZ as new lines 4a-4d, and 

current lines 4-11 would be renumbered as lines 5-12. 

• Instructions to 2022 Schedules H and I. Instructions for new Trust Information 

questions, lines 6a-6d, would be added as instructions for new Part V of 2022 Schedule H and Part 

III of Schedule I to read as follows. 

Line 6a. Enter the name of the trust. If a plan uses more than one trust, enter the primary 

trust in which the greatest dollar amount or largest percentage of the plan assets as of the end of the 

plan year is held. For example, if a plan uses three different trusts, X, Y, and Z, and the percentages 

of the plan assets are 35%, 45%, and 20%, respectively, Trust Y with 45% of the total plan assets 

would be entered in line 6a. 

Line 6b. Enter the EIN assigned to the employee benefit trust, if one has been issued to the 

trust. If you do not have a trust ETN, enter the ETN you would use on Form 1099-R, Distributions 

From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRS, Insurance Contracts, to report 

distributions from employee benefit plans and on Form 945, Annual Return of Withheld Federal 

Income Tax, to report amounts of income tax withheld from those payments. Do not enter a SSN. 

A trust BIN can be obtained from the IRS by applying on Form SS-4, Application for EIN. 

See the instructions for Form 5500, line 2b, to apply for an EIN. Also see the IRS EIN application 

link page at www.irs.gov/businesses and click on "Employer ID Numbers" for additional 

information. The EIN is issued immediately once the application information is validated. 
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Lines 6c and 6d. Enter the name of the trustee or custodian and the trustee's or custodian's 

telephone number. 

• Instructions to 2022 Form 5500-SF. Instructions to new Trust Information questions 

identical to instructions to lines 6a-6d of Schedules Hand I shown above would be added to 

instructions for new Part VIII of 2022 Form 5500-SF, except the line numbers would be lines 14a14d. 

• Instructions to 2022 Form 5500-EZ. Instructions to new Trust Information questions 

identical to instructions to lines 6a-6d of Schedules Hand I shown above would be added to 

instructions for 2200 Form 5500-EZ as lines 4a-4d and current instructions to lines 4-11 would be 

renumbered as lines 5-12. 

6. Proposed Changes to Form 5500 to add new checkboxes for proposed Schedules DCG and 

MEP. 

• 2022 Form 5500 

(1) Line l0(a) of Part II of 2022 Form 5500 would be modified by adding new 

checkboxes for new schedules: DCG and MEP to read as follow: 

10. Check all applicable boxes in 10a and 10b to indicate which schedules are attached 

and, where indicated, enter the number attached. (See instructions) 

a. Pension Schedules 

*** 
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(4) □ 

(5) □ 

DCG (Individual Plan Information) 

MEP (Multiple-Employer Retirement Plan Information) 

7. Proposed Changes to 2022 Schedule R, Form 5500-SF, Form 5500-EZ and Their 

Instructions to Add New IRS Required Compliance Questions 

• 2022 Schedule R. New Part - IRS Compliance questions, lines 21a, 21b, and 22, would 

be added to 2022 Schedule R as follows: 

IRS Compliance Questions 

Line 21a. Does the plan satisfy the coverage and nondiscrimination tests of Code sections 

410(b) and 401(a)(4) by combining this plan with any other plans under the permissive aggregation 

rules? □ Yes No 

Line 21b. If this is a Code section 401(k) plan, check the correct box to indicate how the 

plan is intended to satisfy the nondiscrimination requirements for employee deferrals and employer 

matching contributions (as applicable) under Code sections 401(k)(3) and 401(m)(2)? 

□ Design-based safe harbor method 

□ "Prior year" ADP test 

□ "Current year'' ADP test 

NIA 
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Line 22. If the plan sponsor is an adopter of a pre-approved plan that received a favorable 

IRS Opinion Letter, enter the date of the Opinion Letter __ (MMDD YYYY) and the 

Opinion Letter serial number ____ _ 

• 2022 Form 5500-SF. New IRS Compliance questions identical to lines 21a, 21b, and 22 

of Schedule R shown above would be added to 2022 Form 5500-SF as new Part IX, lines 15a, 15b 

and 16. 

• 2022 Form 5500-EZ. The following IRS Compliance question would be added to Part 

V of2022 Form 5500-EZ as new line 13. 

Line 13. If the plan sponsor is an adopter of a pre-approved plan that received a favorable 

IRS Opinion Letter, enter the date of the Opinion Letter_/_/ __ (MMDD YYYY) and the 

Opinion Letter serial number ____ _ 

• Instructions to 2022 Schedule R. Instructions for new Part VII-IRS Compliance 

questions, lines 21a-21c and 22, would be added to instructions for 2022 Schedule R to read as 

follows. 

Line 21a. Check "Yes" if this plan was permissively aggregated with another plan to satisfy 

the requirements of Code sections 410(b) and 401(a)(4). Generally, each single plan must 

separately satisfy the coverage and nondiscrimination requirements. However, generally, an 

employer may designate two or more separate plans as a single plan for purposes of applying the 

ratio percentage test of Treasury Regulations section 1.41 0(b )-2(b )(2) or the nondiscriminatory 

classification test of Treasury Regulations section 1. 41 0(b )-4. Two or more plans that are 

permissively aggregated and treated as a single plan for purposes of the minimum coverage test of 

Code section 41 0(b) must also be treated as a single plan for purpose of the nondiscrimination test 
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under Code section 401(a)(4). See Treasury Regulations sections 1.410(b)-7(d) and 1.401(a)(4)-

(9)(a) for more information. 

Line 21b. Check the applicable method used to satisfy the nondiscrimination requirements 

of Code section 401(k). A safe harbor 401(k) plan is similar to a traditional 401(k) plan but, among 

other things, it must provide for employer contributions. These contributions may be employer 

matching contributions, limited to employees who defer, or employer contributions made on behalf 

of all eligible employees, regardless of whether they make elective deferrals. The safe harbor 401(k) 

plan is not subject to the complex annual nondiscrimination tests that apply to traditional 401(k) 

plans. Check "Design-based safe harbor method" if this is a safe harbor 401(k) plan, that is, a 

SIMPLE 401(k) plan under Code section 401(k)(l 1), a safe harbor 401(k) plan under Code section 

401(k)(12), or a qualified automatic contribution arrangement under Code section 401(k)(13). If the 

plan, by its terms, does not satisfy the safe harbor method, it generally must satisfy the regular 

nondiscrimination test, known as the actual deferral percentage (ADP) test. Check the appropriate 

box to indicate if the plan uses the "current year'' ADP test or the "prior year" ADP test. Check 

"current year" ADP test if the plan uses the current year testing method under which the ADP test is 

performed by comparing the current plan year's ADP for highly compensated employees (HCEs) 

with the current plan year's (rather than the prior plan year's) ADP for nonhighly compensated 

employees (NHCEs). Check all boxes that apply for a plan that tests different groups of employees 

on a disaggregated basis. Check "NIA" if the plan is not required to test for nondiscrimination under 

Code section 401(k)(3), such as a plan in which no HCE is benefiting. 

Line 22. If a plan sponsor or an employer adopted a pre-approved plan that relied on a 

favorable Opinion Letter of a pre-approved plan, enter the date of the most recent favorable Opinion 

Letter issued by the IRS and the Opinion Letter serial number listed on the letter. 
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• Instructions to 2022 Form 5500-SF. Instructions for new IRS Compliance questions 

identical to instructions to lines 2la-2lc and 22 of 2022 Schedule R shown above would be added 

as instructions for new Part IX of 2022 Form 5500-SF, except the instruction line numbers would be 

lines 15a, 15b and 16. 

• Instructions to 2022 Form 5500-EZ. Instructions for new IRS Compliance question, 

line 13 would be added to instructions for Part V of 2022 Form 5500-EZ to read as follows. 

Line 13. If a plan sponsor or an employer adopted a pre-approved plan that relied on a 

favorable Opinion Letter of a pre-approved plan, enter the date of the most recent favorable Opinion 

Letter issued by the IRS and the Opinion Letter serial number listed on the letter. 

8. Proposed change to Participant-Count Methodology for Determining Independent 

Qualified Public Accountant Audit Requirement for Individual Account Plans 

• 2022 Form 5500. Current line 6g, Number of participants with account balances as of 

the end of the plan year (only defined contribution plans), would be renumbered as line 6g(2) and a 

new line 6g(l) would be added to the 2022 Form 5500 read as follows. 

Line 6g(l). Number of participants with account balances as of the beginning of the plan 

year ( only defined contribution plans). 

• Instructions to 2022 Form 5500. Instructions to line 6g of 2022 Form 5500 would be 

modified to read as follows: 

Line 6g. Enter in line 6g(l) the number of participants included on line 5 (total participants 

at the beginning of the plan year) who have account balances at the beginning of the plan year. 

Enter in line 6g(2) the number of participants included on line 6f (total participants at the end of the 

plan year) who have account balances at the end of the plan year. For example, for a Code section 
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401(k) plan the number entered on line 6g(2) should be the number of participants counted on line 

6fwho have made a contribution, or for whom a contribution has been made to the plan for this 

plan year or any prior plan year. Welfare benefit plans and defined benefit plans should leave lines 

6g(l) and 6(g)(2) blank. 

• 2022 Form 5500-SF. Current line 5c, Number of participants with account balances as 

of the end of the plan year (only defined contribution plans), would be renumbered as line 5c(2) and 

a new line 5c(l) would be added to 2022 Form 5500-SF read as follows. 

• Line 5c(l). Number of participants with account balances as of the beginning of the 

plan year ( only defined contribution plans). 

• Instructions to 2022 Form 5500-SF. Instructions to line 5c of 2022 Form 5500-SF 

would be added to read as follows: 

Line 5c. Enter in line 5c(l) the number of participants included on line 5a (total participants 

at the beginning of the plan year) who have account balances at the beginning of the plan year. 

Enter in line 5c(2) the number of participants included on line 5b (total participants at the end of the 

plan year) who have account balances at the end of the plan year. For example, for a Code section 

401(k) plan the number entered on line 5c(2) should be the number of participants counted on line 

6fwho have made a contribution, or for whom a contribution has been made to the plan for this 

plan year or any prior plan year. Welfare benefit plans and defined benefit plans should leave lines 

5c(l) and 6(g)(2) blank. 

9. Proposed changes to Form 5500-EZ to add new checkbox F to Part I for filer not required 

toe-file Form 5500-EZ 

• 2022 Form 5500-EZ. The following new checkbox F would be added to Part I of the 

2022 Form 5500-EZ. 
Federal Register / Vol. 86, No. 176 / Wednesday, September 15, 2021 / Proposed Rules 51575 

Statutory Authority 

Accordingly, pursuant to the 

authority in sections 101, 103, 104, 109, 

110 and 4065 of ERISA and sections 

6058 and 6059 of the Code, the Form 

5500 Annual Return/Report and the 

instructions thereto are proposed to be 

amended as set forth herein. 

Signed at Washington, DC, 

Ali Khawar, 

Acting Assistant Secretary, Employee Benefits 

Security Administration, U.S. Department of 

Labor. 

Eric Slack, 

Director, Employee Plans, Tax Exempt and 

Government Entities Division, Internal 

Revenue Service. 

Gordon Hartogensis, 

Director, Pension Benefit Guaranty 

Corporation. 

[FR Doc. 2021–19714 Filed 9–14–21; 8:45 am] 

BILLING CODE 4510–29–C 


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F If you are not required to file Form 5500-EZ electronically pursuant to Treas. Regs. 

301.6058-2, check this box (see instructions) .............................................. ► D 

• Instructions to 2022 Form 5500-EZ. Instructions to the new checkbox F added to Part 

I of the 2022 Form 5500-EZ would be added to read as follows: 

Instructions for Electronic Filing Certification 

Check box F only if you are filing using paper Form 5500-EZ and you are not required to 

electronically file Form 5500-EX pursuant to Treas. Regs. 301.6058-2, which requires a return 

required to be filed under Code section 6058, such as Form 5500-EZ, to be filed electronically if the 

filer is required by the Code or regulations to file at least 10 returns during the calendar year that 

includes the first day of the plan year.