Pardon my ignorance; I think I know a little bit about retirement plans but am under no such delusions about health benefits. I've tried to beg off from involvement, but here I am.
When an employER is funding the account, is a plan document required? Intuitively, I think so; I don't see how an employer can just arbitrarily start throwing tax-free money into an account without some sort of documentation. The HSA administrator is not able to provide a direct answer, which is frustrating.
When an employER is funding the account, is 5500 reporting required? I have at least one source saying "yes." Again, the HSA administrator is clueless.
Full Version: Document and reporting requirements
QUOTE (Bird @ Dec 19 2007, 01:49 PM) 
Pardon my ignorance; I think I know a little bit about retirement plans but am under no such delusions about health benefits. I've tried to beg off from involvement, but here I am.
When an employER is funding the account, is a plan document required? Intuitively, I think so; I don't see how an employer can just arbitrarily start throwing tax-free money into an account without some sort of documentation. The HSA administrator is not able to provide a direct answer, which is frustrating.
When an employER is funding the account, is 5500 reporting required? I have at least one source saying "yes." Again, the HSA administrator is clueless.
When an employER is funding the account, is a plan document required? Intuitively, I think so; I don't see how an employer can just arbitrarily start throwing tax-free money into an account without some sort of documentation. The HSA administrator is not able to provide a direct answer, which is frustrating.
When an employER is funding the account, is 5500 reporting required? I have at least one source saying "yes." Again, the HSA administrator is clueless.
HSAs are not subject to Form 5500 reporting; nor is the employer seeding of them (it's not part of the HSA eligible HDHP which must coexist)
QUOTE (Ira Hayes @ Mar 20 2009, 10:03 AM)
QUOTE (Bird @ Dec 19 2007, 01:49 PM)
Pardon my ignorance; I think I know a little bit about retirement plans but am under no such delusions about health benefits. I've tried to beg off from involvement, but here I am.
When an employER is funding the account, is a plan document required? Intuitively, I think so; I don't see how an employer can just arbitrarily start throwing tax-free money into an account without some sort of documentation. The HSA administrator is not able to provide a direct answer, which is frustrating.
When an employER is funding the account, is 5500 reporting required? I have at least one source saying "yes." Again, the HSA administrator is clueless.
When an employER is funding the account, is a plan document required? Intuitively, I think so; I don't see how an employer can just arbitrarily start throwing tax-free money into an account without some sort of documentation. The HSA administrator is not able to provide a direct answer, which is frustrating.
When an employER is funding the account, is 5500 reporting required? I have at least one source saying "yes." Again, the HSA administrator is clueless.
HSAs are not subject to Form 5500 reporting; nor is the employer seeding of them (it's not part of the HSA eligible HDHP which must coexist)
I asked a question similar to this but didnt get a response. Thanks for answering this one, but can you support you notion that HSAs are not subject to Form 5500? I was under the impression that if a HSA plan falls within the scope of ERISA, then 5500 is required?
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