How do I read my Form 5500-SF? | Guideline Help Center

A guide to reviewing your Form 5500-SF, Short Form Return/Report of Small Employee Benefit Plan

	Part I Annual Report Identification Information
A	All Guideline Plans will have “a single-employer plan” selected
B	The “first return/report” will be selected for a new plan. The final return/report will be selected if the plan has terminated and has distributed all assets. An amended return/report will be selected if changes are being made to a prior filing. A short plan year return/report will be selected if the plan was effective for only a portion of the year. A filing can have a combination of these elections.
C	Form 5558 will be selected if we filed an extension for your filing. Your filing is due July 31 without extension and October 15 with extension. DFVC program will be selected if your filing was submitted past the due date and is being filed with the correction program.

	Part II Basic Plan Information
1a	Name of the retirement plan
1b	Plan number
1c	Effective date of the retirement plan
2a	Current sponsor name (legal entity name) & address
2b	Current EIN
2c	Current phone number
2d	North American Industry Classification Systems (NAICS) code (acceptable codes listed in the General Instructions for 5500-SF)
3a	Guideline’s name & address
3b	Guideline’s EIN
3c	Guideline’s phone number
4a	Sponsor name reported on the prior filing, if it has since changed
4b	Sponsor EIN reported on the prior filing, if it has since changed
4c	Plan name reported on the prior filing, if it has since changed
4d	Plan number reported on the prior filing, if it has since changed
5a	Count of employees who were eligible on the first day of the plan year in addition to terminated participants with a balance
5b	Count of employees who were eligible on the last day of the plan year in addition to terminated participants with a balance
5c	Count of participants with a balance, including dismissed participants, at the end of the plan year
5d1	Count of eligible employees regardless if they are actively contributing at the beginning of the plan year
5d2	Count of eligible employees regardless if they are actively contributing at the end of the plan year
5e	Count of participants who were terminated in the plan year and were not 100% vested
6a	If your plan was administered by Guideline during the entire plan year, this answer will always be yes. If your plan was administered by another provider during the plan year, the investments from your prior provider must be “eligible plan assets.” These are assets that have an easily determinable fair market value, are not employer securities and are held or issued by a regulated financial institution. If your prior plan had any investments that were not “eligible plan assets” the answer to 6a should be no, and you will not be eligible to file the 5500-SF and will need to file a standard Form 5500.
6b	If your Guideline plan qualifies to file a short form, this answer will always be yes.
6c	This field is blank as Guideline plans are defined contribution plans.

Additional details regarding financial reporting below:

Guideline files on a cash basis. This means that we report transactions in the year they settled. For example, if a contribution was made for the 12/31 payroll, but it settled in the following year, Guideline will report that transaction in the following year’s Form 5500.
This may lead to a discrepancy between the plan reporting in your dashboard and what is reflected on the form 5500.

	Part III Financial Information
7a	Total assets in the plan at the beginning & end of the plan year including outstanding loan balances
7b	This value will be zero if the plan was with Guideline the entire year.
7c	Net assets (subtract 7b from 7a) at the beginning & end of the plan year. Note: 7a, 7b, and 7c must be the same as reported for the end of the prior plan year, if applicable.
8a(1)	Employer contributions for the plan year
8a(2)	Participant contributions for the plan year
8a(3)	Employee rollovers from other qualified retirement plans during the plan year
8b	Net sum of all dividends, gains/losses (realized and unrealized), interest, and loan interest in the plan year
8c	Sum of lines 8a & 8b
8d	Sum of all distributions in the plan year.
8e	Sum of all ADP/ACP refunds, 402(g) refunds, and deemed or defaulted loans
8f	Fees paid to service providers using plan assets. Includes but is not limited to participant fees, distribution fees, loan fees, & commissions.
8g	Other expenses paid using plan assets
8h	Sum of 8d, 8e, 8f, and 8g
8i	Subtract line 8h from line 8c
8j	Plan to plan transfers to or from the plan. This does not include your conversion to Guideline.

	Part IV Plan Characteristics
9a	List of codes applicable to your plan. Details found in General Instructions for 5500-SF
9b	Will be empty, as Guideline plans are not welfare benefit plans.

	Part V Compliance Questions
10a	Will be marked yes if at any time during the current plan year employee deferrals and or loan payments were not deposited within 7 business days after the pay date. This may also be marked yes if the plan had late deposits from a previous plan year that have not been fully corrected or were corrected in the current plan year. The total of all late deposits will be listed in the amount column. Please note that for the period of time your plan was with Guideline during the current plan year we have reviewed your payroll files to find any late deposits and have worked to get these corrected. If your plan was with Guideline for the entire plan year, you do not need to take any action. For more information on the late payroll deposits you can find a report in your Resource Library with the pay dates affecting this value for the 2020 year.
10b	This will be marked no if the plan has been with Guideline for the entire plan year.
10c	This will be yes with a $190,000,000 bond that Guideline provides.
10d	This will be marked no if the plan has been with Guideline for the entire plan year.
10e	This will be marked no if the plan has been with Guideline for the entire plan year.
10f	This will be marked yes if RMD amounts were not paid out in time. Amount will be provided.
10g	This will be marked yes if there were loans in the plan year as well as the outstanding loan amount at the end of the plan year.
10h	If the plan required a blackout period due to a conversion, this will be marked yes.
10i	If 10h was answered Yes, 10i must be answered. Answer Yes: If the blackout period notice was provided between 30 and 60 days in advance of the blackout period Answer No: If the blackout period notice was not provided, or was provided outside the 30-60 day window in advance of the blackout period

	Part VI Pension Funding Compliance
11a	This will always be marked no for a Guideline plan.
11b	This will be null for a Guideline plan.
12	This will always be marked no for a Guideline plan.

	Part VII Plan Terminations and Transfers of Assets
13a	Will be marked yes if the plan has signed a resolution to terminate the plan This will be $0 for a Guideline plan
13b	Marked yes if all assets were distributed to participants or beneficiaries, transferred to another plan, or brought under the control of the PBGC
13c(1)	If assets were transferred from one plan to another (this does not include a deconversion to a different provider for the same plan) the new plan name will be provided here. Typically applies to spin-offs, mergers, and transfers to an MEP plan.
13c(2)	EIN of the plan assets were transferred to
13c(3)	Plan Number for the plan assets were transferred to

Contact support

What is Form 5500?

Does Guideline handle Form 5500 filings?

Form 5500, 5500-EZ, and 5500-SF: Which form is required for my plan this year?

Form 5500 audit requirements for large 401(k) plans

Form 5500 FAQ