403(b) Relief on Form 5500

The Department of Labor (DOL) recently provided relief regarding old plan contracts and Form 5500 reporting requirements, according to news posted on the PlanSponsor.com website.  The DOL told the Bureau of National Affairs (BNA) that relief applies to 2009 Form 5500 financial report information and to future years beyond the 2009 plan year.  The relief provided by the DOL "allows 403(b) plans making a good faith efforts to comply to avoid the administrative burden and expense of having to collect and include in their 2009 [and future years'] Form 5500 financial report information on certain individual annuity contracts and mutual fund custodial accounts of current and former employees which were entered into before 2009 and for which the employer has no ongoing contribution obligation after 2008."  Full article with link to DOL Relief on Form 5500 REporting Requirements for 403(b)s.