Please see the below steps to help you complete the Plan Year End Census for your retirement plan.
- At least annually (and more frequently depending on the services LRS is providing to you), we request that you review and submit an employee census and plan year summary questionnaire to us, so we can prepare annual IRS and DOL reporting requirements, including IRS Form 5500, for your Plan.
- LRS will send you a Census request at the time it is needed at the end of your plan year via the LRS Plan Administration Portal. Our request is that you review and submit the information to our office immediately upon receipt.
- Once logged into the LRS Plan Administration Portal you will see the Year End Required Steps that need to be taken. Click on the Review Your Deadlines link to pull up all deadlines for your retirement plan. Then click on the Complete and submit your Year End Requirements link for the plan year.
- See the Year End Requirements box with the required tasks. Click on the link for the Census to access the year end wizard.
- The list of employees we have previously collected for you will appear. Verify the list of employees is still correct, enter the termination date for any applicable employees, enter the total compensation for each employee and the total hours for each employee.
- Add employees that are missing by clicking on the Add Employee button. This will open a new box to add all employee information. All employees should be listed on the census whether they are participating in the Plan or not.
- If you have any questions during the process, click on the link to view next step instructions. A dialog box with more detailed instructions for completing the Census will open.
- Once all changes have been made, click on the Save Changes button. The Submit Census button will be enabled once the information has been saved. Verify the information you have entered is correct and complete and click Submit Census to submit to LRS for review.
- As always, if you need assistance in completing the Census, you can click on the chat box icon in the lower right corner of your screen, and a member of our team will be happy to assist you during our business hours.