Form 5500 Filing Simplification Act
Current understanding
HR 7362, the Form 5500 Filing Simplification Act, would streamline annual pension and welfare benefit plan reporting requirements on Form 5500 (the joint DOL/IRS/PBGC return-report). The bill was ordered reported as amended by House committee on a 22-12 vote, advancing it toward floor consideration; it has not been enacted. For plan sponsors, the practical implications depend on the amended text and any implementing guidance from EBSA, IRS, and PBGC.
Evidence log
- 2026-08-20 — Determination of Target Normal Cost and Funding Target for Single-Employer Defined Benefit Plans: cross-connection with single-employer-defined-benefit-funding: Sponsors of single-employer DB plans report funding calculations (Schedule SB) on Form 5500, linking the funding rule mechanics to the annual reporting regime. (novelty: 2)
- 2026-07-21 — Penalties for Failure To Provide Certain Notices or Other Material Information: cross-connection with pbgc-notice-penalties: Form 5500 is a principal PBGC information filing; changes to Form 5500 filing requirements interact with the scope of notices/material information subject to PBGC penalty policies. (novelty: 2)
- 2026-05-21 — Form 5500 Filing Simplification Act: cross-connection with pbgc-pension-benefit-guaranty: Form 5500 is the joint annual return-report filed with DOL, IRS, and PBGC; simplification legislation would affect PBGC’s data collection from single- and multiemployer plans. (novelty: 2)