Form 5500 Filing Simplification Act

This bill simplifies the filing of Form 5500 for employee benefit plan administrators by extending the filing deadline and allowing electronic signatures. Sec. 2, Form 5500 Filing Simplification: (a) ERISA Filing: The bill extends the deadline for filing annual reports with the Secretary and providing information to participants from within 210 days after the plan year ends to no later than 15 days after the end of the 9th calendar month after the plan year ends, with a possible later time if affected by a disaster or similar event. It also extends the deadline for plan administrators to file annual reports with the Pension Benefit Guaranty Corporation from within 6 months after the plan year ends to the same new deadline. (b) Treasury: The Secretary of the Treasury must update Treasury Regulations and guidance to match these changes. (c) Modernization of Filing Statements: The Secretaries of Treasury and Labor, and the Director of the Pension Benefit Guaranty Corporation, must modify required returns and reports to allow electronic signatures. Plans that comply in good faith before these modifications are implemented will be treated as satisfying the requirements. (d) Regulatory Authority: The Secretary of Labor will issue regulations to carry out the bill's amendments. (e) Effective Date: These changes apply to plan years ending on or after the date the bill is enacted.