Which plans are required to file the 5500 schedule C?

The requirement to file the Schedule C of Form 5500 pertains specifically to large plans. Large plans are defined as those that have 100 or more participants at the beginning of the plan year. The Schedule C provides detailed information on plan service providers and their fees, ensuring transparency regarding the costs associated with plan administration. This information is critical for regulatory compliance and for plan participants who have a vested interest in understanding the expenses impacting their retirement savings.

Smaller plans, typically those with fewer than 100 participants, are generally exempt from this requirement. Therefore, while all plans must file a Form 5500, only large plans are specifically obligated to complete the Schedule C. This requirement emphasizes the importance of accountability and disclosure in larger retirement plans where the potential for significant fees and expenses exists.