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Ray Mazurowski

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What exactly is the Summary Annual Report and what do I do with it?

Posted by Ray Mazurowski

Sep 8, 2017 2:00:00 PM

The Summary Annual Report (SAR) is a summary of the IRS Form 5500 that must be distributed to all plan participants. You’ll typically receive a copy of the SAR with your plan Participant Statements. Compliance is mandatory, and penalties for willful noncompliance can include fines in excess of $100,000, imprisonment up to 10 years, or both.

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Topics: Form 5500, DOL, Summary Annual Report