|Aug. 1, 2011 | www.fisherphillips.com|
The annual Medicare Part D enrollment period has been moved to October 15 through December 7, beginning with enrollment for 2012. This change will require plan sponsors to update their Medicare Part D Notices of Creditable or Non-creditable Coverage and most likely will require plan sponsors to provide the notices to Medicare eligible participants by October 15 of this year.
Many of you who are familiar with the Form 5500 will remember the Schedule SSA. The Schedule SSA was formerly part of the annual Form 5500, used to notify the Social Security Administration about separated plan participants who retain vested benefits in a pension or retirement plan. Ideally, when a participant retires and applies for Social Security, the Social Security Administration then alerts the individual that she or he might still be owed pension or retirement money from the plan.
Last month, the IRS released an updated version of Form 5558, "Application for Extension of Time to File Certain Employee Plan Returns." In prior versions, the Form 5558 was used to provide either a one-time extension of the due date for the filing of a Form 5500 Series Return for a plan (meaning a Form 5500, a Form 5500-SF or a Form 5500-EZ Return), or to request an extension of time for filing of a Form 5330 to report excise taxes associated with an employee benefit plan.