Employers with employee benefit plans that operate on a calendar year basis must file their annual reports (Forms 5500) for 2021 with the Department of Labor by Aug. 1, 2022. An employer may extend this deadline by two and one-half months (until Oct. 17 2022) by filing IRS Form 5558 by Aug. 1, 2022.

Typically, the Form 5500 is due by July 31st for calendar year plans, with an extension deadline of Oct. 15th, but if the filing due date falls on a Saturday, Sunday or federal holiday, it may be filed on the next business day.

An employer must file a Form 5500 for each separate employee benefit plan that it maintains, unless a filing exemption applies. Welfare benefit plans are exempt if they are unfunded or fully insured and have fewer than 100 plan participants.

Employers with calendar year plans that do not qualify for the filing exemption should work with their service providers to complete their Form 5500 and file it by Aug. 1, 2022. Employers that need extra time should file Form 5588 by Aug. 1, 2022.

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