2023 Forms 5500 Released

The U.S. Department of Labor’s Employee Benefits Security Administration, the IRS and the Pension Benefit Guaranty Corporation recently released informational copies of the 2023 Form 5500, Form 5500-SF, IRS Form 5500-EZ, IRS Form 5558 and their related instructions online. The IRS will release paper copies of the 2023 Form 5500-EZ and its instructions separately and provide the form’s instructions on the agency’s website after January 1, 2024.

The “Changes to Note” section of the 2023 instructions for each of the forms highlights important modifications to the forms, schedules and instructions. The Form 5500 and Form 5500-SF Changes to Note sections include changes related to the following:

  • A new Schedule DCG for defined contribution group reporting arrangements,
  • A new Schedule MEP for multiple-employer pension plans,
  • Revised small plan audit participant count method,
  • Improved Schedule H administrative expense transparency,
  • Schedule MB regarding asset reporting for plans receiving special financial assistance,
  • Schedule R tax compliance questions and revisions to asset allocation reporting and
  • Schedule SB target normal cost reporting clarifications.

Read a fact sheet with details on the 2023 changes.