[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 7362 Introduced in House (IH)]

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119th CONGRESS
  2d Session
                                H. R. 7362

   To amend the Employment Retirement Income Security Act of 1974 to 
      simplify the filing of Form 5500 for employee benefit plan 
                            administrators.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            February 4, 2026

 Mr. Grothman (for himself, Mr. Norcross, Mr. Hamadeh of Arizona, Mr. 
Wilson of South Carolina, Mr. Fine, Mr. Moylan, Mr. Messmer, Mr. Rulli, 
and Mr. Allen) introduced the following bill; which was referred to the 
Committee on Education and Workforce, and in addition to the Committee 
 on Ways and Means, for a period to be subsequently determined by the 
  Speaker, in each case for consideration of such provisions as fall 
           within the jurisdiction of the committee concerned

_______________________________________________________________________

                                 A BILL


 
   To amend the Employment Retirement Income Security Act of 1974 to 
      simplify the filing of Form 5500 for employee benefit plan 
                            administrators.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Form 5500 Filing Simplification 
Act''.

SEC. 2. FORM 5500 FILING SIMPLIFICATION.

    (a) ERISA Filing.--
            (1) Filing with secretary and furnishing information to 
        participants and certain employers.--Section 104(a)(1) of the 
        Employee Retirement Income Security Act of 1974 (29 U.S.C. 
        1024(a)(1)) is amended by striking ``within 210 days after the 
        close of such year (or within such time as may be required by 
        regulations promulgated by the Secretary in order to reduce 
        duplicative filing)'' and inserting ``not later than the date 
        that is 15 days after the end of the 9th calendar month that 
        begins after the close of such year (or, if the Secretary 
        determines that the employee benefit plan, or any sponsor, 
        administrator, participant, beneficiary, or other person with 
        respect to such plan, has been affected by a disaster, fire, or 
        action as described in section 7508A(b) of the Internal Revenue 
        Code of 1986, a later time determined appropriate by the 
        Secretary)''.
            (2) Annual report of plan administrators.--Section 4065 of 
        the Employee Retirement Income Security Act of 1974 (29 U.S.C. 
        1365) is amended, in the matter following paragraph (3), by 
        striking ``within 6 months after the close of the plan year'' 
        and inserting ``not later than the date that is 15 days after 
        the end of the 9th calendar month that begins after the close 
        of the plan year''.
    (b) Treasury.--The Secretary of the Treasury shall conform Treasury 
Regulations and other guidance to the amendments made by subsection 
(a).
    (c) Modernization of Filing Statements.--
            (1) In general.--The Secretary of the Treasury, the 
        Secretary of Labor, and the Director of the Pension Benefit 
        Guaranty Corporation, as appropriate, shall modify the returns 
        required under section 6058 of the Internal Revenue Code of 
        1986 and the reports required under sections 104 and 4065 of 
        the Employee Retirement Income Security Act of 1974 (29 U.S.C. 
        1024, 1365) to permit such return or report, and any additional 
        information required to be submitted with such return or 
        report, to be signed through electronic means.
            (2) Good-faith reliance.--A plan shall be treated as 
        satisfying the requirements of this section if it complies in 
        good faith with the provisions of this section until the date 
        on which the Secretary of the Treasury, the Secretary of Labor, 
        and the Director of the Pension Benefit Guaranty Corporation 
        implement the modifications required under paragraph (1) of 
        this subsection.
    (d) Regulatory Authority.--The Secretary of Labor shall issue such 
regulations as are necessary to carry out the amendments made by this 
Act.
    (e) Effective Date.--The amendments made by this Act shall apply to 
plan years ending on or after the date of the enactment of this Act.
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