Summer is a busy time for many employers, but it's also an important season for employee benefits compliance. As annual filing deadlines approach, employers should take a moment to review their health plan obligations and ensure all required reporting is completed accurately and on time.
Two key compliance requirements are on the horizon: Form 5500 filings and PCORI fee reporting. Understanding whether these requirements apply to your organization can help you avoid penalties and stay compliant.
Form 5500 Filing Deadline
For many employers, the Form 5500 filing deadline falls on the last day of the seventh month following the end of the plan year, which often means a July deadline for calendar-year plans.
The Form 5500 Series is part of ERISA's reporting and disclosure framework, designed to help ensure employee benefit plans are managed according to federal standards. The filing provides information about a plan's financial condition, operations, and compliance with applicable regulations.
Generally, employers are required to file Form 5500 for welfare benefit plans, including group health plans, that covered 100 or more participants on the first day of the plan year.
Because participant counts and filing requirements can vary by plan, it's important to review your specific situation well in advance of the deadline.
PCORI Fee Filing Deadline
The second deadline employers should be aware of is the Patient-Centered Outcomes Research Institute (PCORI) fee filing, which is due July 31, 2026, for applicable plans ending in 2025.
The PCORI fee is an IRS requirement that applies to most self-funded health plans, including many level-funded plans and Health Reimbursement Arrangements (HRAs).
The fee helps fund research that evaluates the effectiveness of medical treatments and healthcare strategies under the Affordable Care Act (ACA). Employers responsible for paying the fee must report and submit it annually using IRS Form 720.
While the filing itself is relatively straightforward, determining whether your plan is subject to the fee—and calculating the correct amount—can require careful review.
Don't Wait Until the Deadline
Compliance filings are much easier to manage when preparations begin early. Taking time now to confirm your filing obligations, gather participant information, and review plan details can help prevent last-minute stress and potential penalties.
If you're a Forsite client, our team works alongside you throughout the process, helping gather the necessary information and providing guidance to help ensure filings are completed accurately and on time.
Have questions about your Form 5500 requirements or PCORI fee obligations? Reach out to your Forsite assist. We're here to help.