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Agencies Preview Form 5500 for Reporting in 2021

Agencies Preview Form 5500 for Reporting in 2021

Advance copies of Form 5500 information returns, used to report on plan year 2020 benefits, reflect an increase in maximum civil penalties, among other adjustments. It’s uncertain if the Biden administration will revive an Obama-era proposed overhaul to Form 5500 that could expand reporting requirements for future years.

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