True or false; Forms 5500 and 8955-SSA must be filed at the same time?

Forms 5500 and 8955-SSA are both important documents in the 401(k) and pension plan reporting process, but they can be filed separately and do not need to be submitted at the same time.

Form 5500 is used for annual reporting for employee benefit plans, providing information about the plan's financial condition, investments, and operations. In contrast, Form 8955-SSA is specifically focused on reporting separated participants and their benefits that are due to them under the plan.

Because the purpose and focus of these forms differ, and they serve different aspects of regulatory compliance, it is permissible to file them separately. This allows plan sponsors to manage their filing obligations according to their operational timelines and requirements.