True or false; the 5500 and 5500-SF are filed to the IRS?

The statement is based on the understanding that Form 5500 and Form 5500-SF are primarily filed with the Department of Labor (DOL), not the IRS. These forms are utilized for annual reporting regarding employee benefit plans, including 401(k) plans, ensuring compliance with the Employee Retirement Income Security Act (ERISA) regulations.

It's essential to recognize that while information from the 5500 forms is ultimately shared with the IRS, the direct filing is done to the DOL. This is part of a broader requirement to provide transparency and detailed information on benefit plans to protect participants' interests.

Thus, the correct response highlights the proper filing procedure, reinforcing the distinction between various regulatory bodies involved in overseeing retirement plans, and clarifying the misconception that these forms are submitted directly to the IRS.