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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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How a New Administration May Impact HR

How a New Administration May Impact HR

​Four years ago, Donald Trump’s election had a significant impact on HR professionals, as it kicked off a process in which many federal regulations implemented by the Obama administration were revised and overturned. Given the election results, analysts expect the new Democratic administration will attempt to change many of those regulations, despite the ongoing pandemic.

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