BASE® 5500 Solver
Overview
BASE® 5500 Solver can help employers effectively prepare and file the Form 5500, while minimizing the plan-related workload. Form 5500 is used to report important information regarding employee health and welfare benefit plans. Not only does this comprehensive compliance solution generate custom compliant 5500 documents, but is an innovative solution that allows employers to easily prepare and file electronically each year.
Benefit to Employer:
Streamlined Process.Workflow can be tracked, including signature status, and tracking of submission to and acceptance by the DOL
Easy Access to Information.
All Form 5500 Services data and forms are electronically stored for later reference. The documents also include a date and time stamp of the original filing and any subsequent re-filings.
Full-Service Guidance & Support.
The BASE® team is here to ensure your Form 5500s are handled properly. From ensuring all required information is gathered to confirming successful filing, BASE® offers the guidance and support needed. If filing is unsuccessful, BASE® continues to consult with the client to make the necessary amendments.
5500 Solver Eligibility
The BASE® 5500 Solver is for employers with 100 or more employees participating in health and welfare benefit plans.
Covers Required Form 5500 Series Forms- Form 5500
- Schedule A – Insurance Information
- Schedule C – Service Provider Information
- SAR - Summary Annual Report (Spanish Version Available)
Frequently Asked Questions
The primary reason is to meet the ERISA compliance provisions. It is intended to assure that employee benefit plans are operated and managed in accordance with certain standards. These standards exist to ensure that the employees and their dependents have access to sufficient information to protect their rights and benefits under the employee benefit plans.
Form 5500 must be filed annually for employer-sponsored welfare plans with 100 or more participants as of the beginning of the plan year.
BASE® gathers data from the client then prepares and files the required Form 5500 forms and schedules for the client. Upon review and approval, the signature step is next and then BASE electronically files the Form 5500. Once this process is complete, BASE obtains confirmation of successful filing for the client.
Severe fines can be imposed for each day that the filing is not in compliance.
