Electronic DOL Filing for Top Hat Plans to Be Mandatory

Fulcrum Partners Executive Benefits News, Fulcrum Partners NEWS

Nonqualified deferred compensation “top hat” plans do not require annual Form 5500s. Instead, the Department of Labor requires a Top Hat plan disclosure letter whenever a new plan is implemented. Nonqualified Deferred Compensation Plans enable executives and other high-income earners to defer income beyond the limits of qualified 401(k) plans. These plans garner more attention any time there are tax …