Publication of Clients Lists Unfair to PEO Industry
NAPEO has long held that requiring PEOs to submit for publication the names on of their customers on the Form 5500 is unfair to the PEO industry. Client lists are a PEO’s most valuable asset, and no industry should be forced to disclose its proprietary business information online.
Twice NAPEO has filed comments with DOL asking the agency to amend their filing requirements for PEOs, and we will continue working to stop the publication of PEO-sponsored health insurance and retirement plan participants on the Department of Labor website.
Background Information & Resources:
Form 5500 Interim Final Regulation and filing instructions
This interim final rule describes revisions to the Form 5500 Annual Return/Report of Employee Benefit Plan and Form 5500–SF Annual Return/Report of Small Employee Benefit Plan (together ‘‘Form 5500 Annual Return/Report’’) to implement annual reporting changes for multiple employer plans required by The Cooperative and Small Employer Charity Pension Flexibility Act (CSEC Act), enacted on April 7, 2014.
Field Assistance Bulletin
This Field Assistance Bulletin provides guidance and temporary penalty relief related to certain Form 5500 Annual Return/Report requirements for multiple employer plans (MEPs) subject to Title I of the Employee Retirement Income Security Act of 1974, as amended (ERISA).
Legal memorandum laying out the legal authority DOL has to protect employer information
Legal memorandum written by the Groom Law Group laying out the legal authority the Department of Labor has to protect participating employer information.