Waiver of examination and report of an independent qualified public accountant for employee benefit plans with fewer than 100 participants.
CFR 1999 annual edition (revised as of 1999-07-01) · in effect Jul 1, 1997 to Jul 1, 2000 · last amended by 54 FR 8629, Mar. 1, 1989
(a)General.
(1) Under the authority of section 103(a)(3)(A) of the Act, the Secretary may waive the requirements of section 103(a)(3)(A) in the case of a plan for which simplified annual reporting has been prescribed in accordance with section 104(a)(2) of the Act.
(2) Under the authority of section 104(a)(3) of the Act the Secretary may exempt any employee welfare benefit plan from certain annual reporting requirements.
(b)Application.
(1) The administrator of an employee pension plan for which simplified annual reporting has been prescribed in accordance with section 104(a)(2)(A) of the Act and § 2520.104-41 is not required to comply with the annual reporting requirements described in paragraph (c) of this section.
(2) The administrator of an employee welfare benefit plan that covers fewer than 100 participants at the beginning of the plan year is not required to comply with annual reporting requirements described in paragraph (c) of this section.
(c)Waiver. The administrator of a plan described in paragraph (b)(1) or (2) of this section is not required to:
(1) Engage an independent qualified public accountant to conduct an examination of the financial statements of the plan;
(2) Include within the annual report the financial statements and schedules prescribed in section 103(b) of the Act and §§ 2520.103-1, 2520.103-2, and 2520.103-10; and
(3) Include within the annual report a report of an independent qualified public accountant as prescribed in section 103(a)(3)(A) of the Act and § 2520.103-1.
(d)Limitations.
(1) The waiver described in this section does not affect the obligation of a plan described in paragraph (b)(1) or (2) of this section to file a Form 5500-C or, as appropriate, Form 5500-R and all schedules called for therein. See§ 2520.104-41.
(2) This section does not apply to a plan which elects to file an Annual Return/Report Form 5500 pursuant to § 2520.103-1(d).
Pension Law Library · https://pensionresource.website/EAMain?content=EAMain.Law&id=cfr29-2520.104-46&asof=1997-07-01 · printed October 16, 2026. Unofficial copy compiled from official federal sources; verify against the official text before relying on it.