May 2026
Caitlin Hillenbrand, Associate Director Benefits Compliance
Each year, companies subject to the Employee Retirement Income Security Act of 1974 (“ERISA”) need to submit an annual report (Form 5500) for each benefits package they offer employees unless an exemption applies. Companies whose benefit plans follow the calendar year should submit their 2025 Form 5500 filings to the U.S. Department of Labor (“DOL”) by July 31, 2026. There is an extension available, pushing the deadline to October 15, 2026, if the employer files Form 5558 with the IRS by the original deadline, July 31, 2026.
By way of background, employers sponsoring certain tax-qualified employee benefit plans and other programs subject to ERISA must electronically file an annual Form 5500 with the DOL unless an exemption applies to the employer or the underlying plan or arrangement. The Form 5500 is designed to advise the IRS and the DOL, as well as plan participants and beneficiaries, of important information related to the underlying plan’s sponsorship, administration, and financial performance. Employers bundling benefits under a wrap plan are only required to file a single Form 5500 for all benefits offered under such wrap plan.
Importantly, small welfare benefit plans (generally fewer than 100 covered participants as of the first day of the plan year) that are also unfunded and/or fully insured (or a combination of unfunded and insured) are exempt from the Form 5500 submission requirement.
2026 penalties
Companies could face penalties from the DOL for not adhering to the annual reporting requirements, such as failing to file Form 5500 by the deadline or submitting incomplete forms. Under ERISA, the DOL can charge penalties up to $2,739 per day for each day the company fails to file a completed form in 2026 (this is an unchanged penalty amount from 2025). However, these penalties could be waived if there is a reasonable cause for not complying. To avoid severe penalties, plan administrators can take advantage of the Delinquent Filer Voluntary Compliance Program (“DFVCP”). This allows administrators who are behind schedule to submit their overdue Form 5500s and pay reduced penalties. Eligibility for the DFVCP only applies if the required filings are made before receiving a written notification from the DOL regarding the missed annual reports.
Employer action items
- Determine whether your organization will need to file Form(s) 5500 for any calendar year plans.
- Collect schedules as well as any related information required to accurately file the annual Form 5500(s).
- Reach out to vendors to confirm any deadlines in place for information submission.
- Work with vendors to electronically file Form(s) 5500 (including required schedules and attachments) using the DOL’s EFAST2 electronic filing system (by July 31, 2026).
- If extra time is required, file IRS Form 5558 by July 31, 2026.
Additional information and resources
- DOL Information regarding the Form 5500
- 2025 Instructions for Form 5500
- 2025 Form 5500
- Form 5558: For Filing an extension
For more information
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