Episode Details

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - The key differences and participant thresholds for Form 5500 (large plans), 5500-SF (small plans), and 5500-EZ (one-participant plans). - How the "80-120 Participant Rule" provides filing flexibility and can help avoid a mandatory plan audit. - The specific filing threshold for Form 5500-EZ, including the $250,000 asset trap that often appears on the exam. - The standard and extended due dates for the Form 5500 series and the proper use of Form 5558 for an extension. - Why large plans with 100 or more participants are required to undergo an annual audit by an independent qualified public accountant. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep