Madison, Wisconsin (PRWEB) November 21, 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 benefit 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 7 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 IRS Form 5500 Preparation will collect the benefit-related employer data and deliver a completed IRS Form 5500 back to the employer with instructions for submission. TASC’s service features user-friendly electronic tools that save time and money, assistance in collecting needed data from insurance carrier and/or service providers, and complete preparation of an IRS Form 5500 and all Schedules, along with filing instructions and deadlines for submission. This process completely satisfies the employer’s Form 5500 filing requirements for the employer’s health and welfare benefits, up to eight benefits plans at one low price!
Of all the requirements associated with Flexible Spending Accounts, Health Reimbursement Arrangements, Group Term Life Insurance, and Self-Insured Medical Plans none are 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, administers more than fifteen different tests conveniently packaged, and easy-to-understand service. TASC’s Non-Discrimination Testing service features user-friendly tools guarantee that the tests are conducted correctly, tests designed to handle all types of Plans, employers, and industries, fast and understandable result notification, and most importantly guidance on how to correct test failures.
TASC’s Compliance Suite
TASC’s team of industry and governmental experts delivers full compliance with evolving regulations, and easy-to-understand service and instructions. TASC monitors legislative and regulatory changes, provides assistance complying with new rules, and assistance if Clients’ Plans are reviewed. Only TASC has the skill and know-how to keep Clients compliant at a faction of the cost!
Based in Madison, Wisconsin, TASC is the nation’s largest, privately held, stand-alone third-party administrator of benefits accounts, compliance, and payroll services for more than 60,000 sole proprietors, family farmers and business owners. TASC’s services include AgriPlanNOW, BizPlanNOW, COBRAToday, DirectPay, ERISAEdge, FlexSystem, FMLAMatters, PayPath, and RetireeBilling. For more information visit: http://www.tasconline.com.
Bruce Stein, Public Relations & Communications Director