National Financial Services LLC (NFS) has prepared this information packet to help guide you through the forms required for filing Form 5500 for your Premiere Select^® Retirement Plan. NFS acts as agent for Fidelity Management Trust Company (FMTC), the trustee for your retirement account. A Form 5500 is generally required to be filed for each plan you maintain. The federal government may impose penalties for noncompliance with filing regulations. If you have any questions about your filing requirements, please consult your tax advisor, the IRS, or the Employee Benefits Security Administration (EBSA).

Plan administrators for Keoghs, defined benefit plans, corporate pension and profit sharing plans, certain 403(b) plans, and 401(k) plans must generally file a Form 5500 each year. Beginning with tax year 2009, the IRS and the Department of Labor (DOL) have made significant changes regarding the Form 5500 filing options and/or requirements that may affect many small business plans.

All Forms 5500, other than Form 5500-EZ (PDF) , will have to be filed electronically using the new DOL ERISA Filing Acceptance System (EFAST2). This electronic filing system includes a new Form 5500-SF required for plans with more than one but fewer than 100 participants. A DOL EFAST help line is available at 1-866-GO EFAST (866-463-3278).

One-participant plans
As in past years, "one-participant plan" administrators generally will use the Form 5500-EZ to satisfy certain annual reporting and filing obligations. Administrators must file this Form on paper with the IRS. Alternatively, administrators of eligible "one-participant plans" may choose to complete the new Form 5500-SF and file electronically. A one-participant plan is generally a business owner (or an owner and his/her spouse, if they are the only participants) or a plan for a business partnership (where the partners and/or their spouses are the only participants).

You do not have to file a Form 5500-EZ (or Form 5500-SF) for a plan year (other than the final plan year), if you meet the conditions for filing Form 5500-EZ, or for Form 5500-SF, and you have one or more one-participant plans that had total assets of $250,000 or less at the end of that plan year. Please refer to the IRS Instructions for Form 5500-EZ (PDF) or Instructions for Form 5500-SF (PDF) for details.

Plans with fewer than 100 participants
Plans that are not one-participant plans and have fewer than 100 participants will file electronically using the new Form 5500-SF. For more information, see the Instructions for Form 5500-SF (PDF) or visit the EFAST2 web site.

Plans with 100 or more participants
Form 5500 must now be completed by plans with 100 participants or more. Beginning with tax year 2009 it may only be completed and filed electronically. For more information on completing Form 5500, consult the Form 5500 Instructions (PDF) and/or your tax advisor.

For more information, see our FAQ, Who should file Forms 5500-EZ, 5500-SF, or 5500 and which form should I file?

NFS mails Annual Valuation Statements each year by April 30. With your statement in hand, the following information may help you complete the forms required for filing your plan's Form 5500-EZ or Form 5500-SF. The federal government may impose penalties for noncompliance with filing regulations. Consult your tax advisor, the IRS, or the Employee Benefits Security Administration (EBSA) of the DOL with any questions.

Understanding Forms 5500-EZ and 5500-SF

	Illustrated explanation of Form 5500-EZ Illustrated explanation of Form 5500-SF
	Sample statements shown are for illustrative purposes only. Certain categories of transactions many not pertain to your account. Consult your tax advisor about the use of this information.

Note to employers
You should obtain Annual Valuation Statements from all the participants in your plan, because the statements have been sent directly to the plan participants.

An annual checkup for your retirement plan
As you prepare your Form 5500 tax filing, it's a good time for a checkup of your administrative responsibilities and retirement plan needs. See our FAQ What are my basic responsibilities as plan administrator? for general information.

Other online resources
For detailed Form 5500 information, visit efast.dol.gov for help from the Employee Benefits Security Administration, US Department of Labor.