Form 5500

The Form 5500 series is the annual reporting system for employee benefit plans. The IRS specifically warns that the under-$250,000 exception for certain one-participant plans does not remove the annual filing requirement for a ROBS plan, because the plan’s company-stock investment means the plan, rather than the individual, owns the trade or business. See the IRS ROBS compliance project.

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Filing basics

• The filing is generally due seven months after the plan year ends
• A calendar-year plan generally files by July 31
• Form 5558 may provide an automatic 2.5-month extension when filed on time
• Form 5500 and Form 5500-SF are filed electronically through EFAST2
• The Plan Sponsor or Plan Administrator remains responsible for the filing and its accuracy even when a service provider prepares it

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Which form applies

The correct Form 5500 series return depends on the plan’s facts, including participant count, plan type, assets, and eligibility for the small-plan filing rules. Many early-stage ROBS plans use Form 5500-SF, but the short form is not automatic merely because the plan has fewer than 100 participants. Nexus determines the applicable filing path during annual administration.

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Information used in the filing

Annual reporting commonly covers plan identity, participant counts, beginning and ending assets, employer securities, other investments, contributions, distributions, service providers, and plan characteristics. Private C-Corp stock must be reported at fair market value.

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Late-filing exposure

IRS and DOL penalties are separate:

• IRS: $250 per day, up to $150,000 per plan year, for covered late returns due after December 31, 2019
• DOL: up to $2,739 per day under the 2025 inflation-adjusted amount, which remains in effect for 2026

These are maximum statutory or administrative amounts, not an automatic bill in every case. Reasonable-cause procedures and the DOL Delinquent Filer Voluntary Compliance Program may provide relief when their requirements are met. Check the current IRS filing-notice guidance and DOL Form 5500 resources.

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Nexus support

Nexus tracks the filing cycle, collects the required annual information, supports valuation recordkeeping, prepares the applicable filing, and coordinates submission. The Plan Sponsor or Plan Administrator must review and sign the return.