Madison, WI (October 30, 2013) – TASC (Total Administrative Services Corporation) provides innovative, tax-advantaged employee benefits programs to businesses large and small, and has released two new service offerings— Non-Discrimination Testing and Form 5500 Preparation. Designed as stand-alone or add-on services, these offerings help ensure the compliance of various employee benefits plans.
Form 5500 Preparation
The Internal Revenue Service (IRS) Form 5500 is used to report information concerning employee benefits plans. All employers with 100 or more employees who participate in a health and welfare benefit plan must complete and submit an IRS Form 5500 with applicable schedules within seven months of the Plan Year’s end. Each IRS Form 5500 must accurately reflect the characteristics and operations of the Plan being reported. TASC’s Form 5500 Preparation collects the benefits-related employer data, then completes and delivers to the employer an IRS Form 5500 along with instructions for submission. Our user-friendly electronic tools save Clients time and money, and include assistance in collecting data from insurance carriers and/or service providers, thorough preparation of Form 5500 and all schedules, filing instructions, and a schedule of submission deadlines. This process completely satisfies employers’ Form 5500 filing requirements for the health and welfare benefits they offer… up to eight benefits plans at one low price!
Non-Discrimination Testing
Of all the requirements associated with Flexible Spending Accounts, Health Reimbursement Arrangements, Group Term Life Insurance, and Self-Insured Medical Plans, none is more crucial or confusing than Non-Discrimination Testing. Employers who fail to test annually risk being subjected to a host of fines and penalties.
TASC delivers full compliance with evolving regulations and administers more than 15 different tests, all conveniently packaged and with easy-to-understand service. TASC’s Non-Discrimination Testing service features user-friendly tools to ensure that the tests are conducted correctly. Designed to handle all types of Plans, employers, and industries, test result notifications are fast and understandable, and most important, corrective guidance is thorough if a test fails.
TASC’s Compliance Suite
TASC’s team of industry and governmental experts delivers full compliance with evolving regulations through easy-to-understand service and instructions. TASC monitors legislative and regulatory changes, helps Clients comply with evolving rules, and assists if a Client’s Plans is reviewed. Only TASC has the skill and know-how to ensure Plan compliance for Clients large and small, at a fraction of the competitors’ cost!
