Compliance Reporting Data Now Due February 16 – NRECA Employee Benefits Weekly

Compliance annual reporting for the 2020 plan year is now underway. The mid-February reporting deadline allows the benefits compliance team to perform your cooperative’s retirement plan nondiscrimination testing in time to avoid possible excise taxes. Because the usual February 15 deadline falls on a federal holiday, the due date to send your co-op’s questionnaire and W-2 salary data has been extended to Tuesday, February 16.

Resources to help prepare your data are located on the W-2 Salary Data & Retirement Compliance Questionnaire page of the Employee Benefits website.

Listen to the recorded Compliance Annual Reporting webinar.
Consult the Compliance Annual Reporting Resource Guide for detailed answers to your questions about year-end reporting.
Use the Message Center to securely send your questionnaire. Retain a full copy in your files in case NRECA needs to clarify your data.
Import your W-2 salary data using the W-2 salary submission event on the Employee Benefits website. Use the file layout to format your data. Importing a data file is the easiest option for co-ops with multiple subgroups or a large number of participants.

If you need help finding these resources online, contact the Member Contact Center at 866.673.2299 or contactcenter@nreca.coop.

For help with the W-2 Salary Submission or the questionnaire, contact the benefits compliance team at 866.673.2299, option 7, or pension.compliance@nreca.coop.

On February 15 when NRECA’s Member Contact Center is closed for the holiday, you can reach benefits compliance at 703.907.6988 or pension.compliance@nreca.coop.