Principal Unveils Form 5500 Tools

The Principal Financial Group has released two online tools to help plan sponsors file their Form 5500 reports with the U.S. Department of Labor (DoL).
A Principal news release said the new Consolidated Disclosure Tool helps large-plan filers (100 or more participants) meet the eligible indirect compensation requirement mandated by the DoL.

“The tool puts the information plan sponsors need at their fingertips. It’s intuitively designed to help make the review and reporting of investment expenses faster, easier and more accurate,” said Jacque Mohs, vice president—Retirement and Investment Services, The Principal, in the news release.

The Data Collection Tool has been updated to help plan sponsors comply with the new requirement to file forms electronically through the EFAST2 DoL filing system. Plan sponsors can also now include outside assets electronically instead of adding them manually.