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Summary Annual Report and Form 5500

What is the annual report and who files it?

An Annual Report (Form 5500) must be filed with the government no later than the last day of the 7th month after the close of the plan year (unless filed under an extension). The Trust files this form on behalf of all Plans of participating Banks funded through the Trust.

What is the summary annual report and who distributes it?

The Summary Annual Report is provided annually by the Trust after the Form 5500 has been filed. The Summary Annual Report summarizes the Annual Report (Form 5500) filed by the Trust. Annually, each Plan Sponsor, as Plan Administrator, is required to distribute a Summary Annual Report to participants and beneficiaries in the Bank's plan funded through the Trust.

What does the Bank do with the summary annual report?

When a bank receives the Summary Annual Report, it should immediately distribute it to each participant covered by the Plan.

Summary Annual Reports