Washington (July 15, 2003) -- The Internal Revenue Service reminds employers and retirement plan professionals that they no longer have to file information about fringe benefit plans. The IRS suspended the requirement for an annual Form 5500 and Schedule F last year for such so-called “pure fringe benefit plans.”
The IRS has since eliminated Schedule F altogether and also modified Form 5500 so fringe benefit plans could not be reported. However, based on past experience, the IRS is concerned that some employers may try to adapt prior year forms and schedules or add write-in information on a Form 5500 because they mistakenly think the filing requirement still exists. In fact, pure fringe benefit plans have no IRS filing requirement and therefore should file neither a Form 5500 nor a Schedule F.
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