The U.S. Department of Labor, in collaboration with the Internal Revenue Service and the Pension Benefit Guaranty Corporation, has released informational copies of the 2025 Form 5500 series and related instructions online. The IRS will provide paper copies of Form 5500-EZ and its instructions on their website after January 1, 2026.
Federal regulations mandate that pension and welfare benefit plans submit an annual return/report detailing their financial status, investments, and operations. Typically, these plans use the Form 5500 series along with necessary schedules and attachments for this purpose. The instructions for each form include a "Changes to Note" section that outlines significant updates for 2025.
Notable changes in Form 5500 and Form 5500-SF include new plan characteristic codes: 1J, 1K, and 1L have been added to identify multiemployer defined benefit plans terminated due to mass withdrawal, plan amendment, or insolvency. Additionally, a new code, 1G, is introduced for both forms to denote defined benefit plans using a variable annuity benefit formula. Furthermore, code 1H has been modified on Form 5500 to specify its application solely to terminated single-employer PBGC-covered plans.
Plan administrators are advised not to use these informational copies for filing purposes. Instead, they should await the availability of official electronic versions via efast.dol.gov. Filers can then use software from EFAST2-approved vendors or file directly through the EFAST2 website. For filing inquiries regarding the Form 5500 series, contact the EFAST2 center at 866-463-3278 or email support@efast.dol.gov.
