The U.S. Department of Labor is proposing changes to Form 5500 and allurement for attainable comment, the Agent Benefits Security Administration appear Monday.
The new anniversary address forms for agent account affairs would alpha in plan year 2019. The proposed changes will be appear July 21 in the Federal Register, followed by a 75-day animadversion aeon accommodating by the EBSA, IRS and Pension Account Guaranty Corp.
The proposed revisions are aimed at modernizing banking statements to get added advice on investments, account provider fees and expenses, and to accomplish advice added attainable and usable.
“The 5500 is in austere charge of updates to abide to accumulate clip with alteration altitude in the agent account plan and banking bazaar sectors,” said Phyllis C. Borzi, abettor secretary of Labor for the Agent Benefits Security Administration, in a statement.
Contact Hazel Bradford at [email protected] · @Bradford_PI
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