To complete a Form 5500 and any required schedules, an employer may be required to look at data from the plan document/summary plan description, the insurance contract or statistics related to plan. Depending upon the type of filing, questions asked on the 5500 may pertain to participation, premiums, expenses associated with the plan or commissions paid to a broker(s).

So what is the difference between the Schedule A and the Schedule C?
Schedule A includes premium amounts and agent commission details for insured plans and does not apply to self-funded plans such as a Health Care FSA or HRA. Schedule As are typically provided by insurance carriers for insured benefits.

Schedule C provides details on the fees associated with the plan and is typically only provided in the event the reportable fees exceed $5,000. Many self-funded plans will receive a Schedule C, based upon fees paid on behalf of the Plan to service providers, such as brokers or administrators. You may receive more than one Schedule C for a specific plan if you have reportable fees from more than one organization (such as a broker and an administrator).

Some ERISA plans may not be required to file Schedule C because participant contributions are held in and claims paid from general assets. Most Employee Benefits Corporation clients with either the BESTflex and EBC HRA clients will fall into this category; however, upon request we will provide a Schedule C.

Article Credit: Employee Benefits Corporation