Wrangle has developed new enhancements to our processes and our online 5500 Dashboard. In addition, Ascensus’ ERISA attorneys have notified us of ERISA-level changes that impact our Plan Documents. As we ring in the new year we wanted to bring this information to you. We feel very strongly that these enhancements will make a noticeable difference to your experience and partnership with Wrangle.
5500 Dashboard:
Know when 5500 Reports are Being Prepared
The Scorecard now provides more details about the preparation process. You will be able to see which reports are in the preparation queue as all Schedule As have been received, and Wrangle has no questions. The reports in this phase will be noted under “In 5500 Prep.”
Other Valuable Enhancements:
- The Form 5558, which is used to obtain a 2.5-month extension on your Form 5500 can now be e-filed. You will receive the DOL’s Acknowledgement ID code (ACK) via email from Wrangle once it is e-filed.
- You now have the option to generate the summary annual report (SAR) as a Word doc as well as download the PDF.
- A new line has been added to the SAR to give participants the direction to obtain the 5500 from the DOL’s website: “Or you may access a copy on the DOL’s web site www.efast.dol.gov.”
- All Zip Codes have the additional four numbers at the end if available Zip + 4.
- The SAR Distribution Rules Fact sheet has been added to the DocuSign Envelope to give easy access to clients/those who are to sign the Form 5500.
- For the notes section, after completing the message, you will just have one step to conclude with the “Save and Close” button.
Posting Email – Alerting that your 5500 is Ready for Review:
You will notice a more concise email with links to helpful checklists for clarity.
Wrap Plan Document:
Due to the change in policies for reproductive healthcare, the HIPAA Privacy Act had changes to its policies and procedures (learn more by clicking here for the Federal Register’s final rule). Even though covered entities have until February 26, 2026, to update, our Wrap Plan Document will have the details available. Our ERISA Desk Team will prepare legislative template Amendment/SMMs for those who have our Wrap Plan Document and will send it out during the first quarter of 2025.
If you have questions or need additional information, don’t hesitate to let us know. We have a library of materials such as cheat sheets, fact sheets, and other forms of tutorials. And we have a team of people here to further assist.
Contact Ann McAdam at amcadam@wrangle5500.com, and she can line you up with the right person or provide materials.