The deadline to distribute Part D notices and file extended Form 5500s for calendar-year plans is October 15, 2026. This applies to employers with prescription drug coverage and those that requested a Form 5500 filing extension.
Medicare Part D Notices
Employers with prescription drug coverage must provide a creditable coverage notice to Medicare Part D eligible individuals before October 15 each year. This helps recipients understand whether delaying Part D enrollment could lead to higher premiums later.
Penalties for Noncompliance
While there is no specific penalty for missing the Part D notice, failing to provide it can create employee relations issues, affect Retiree Drug Subsidy eligibility, and expose employers to other compliance consequences.
Extended Form 5500s
ERISA-covered employers generally must file Form 5500 each year unless an exemption applies. For calendar-year plans that received an extension by filing Form 5558, the 2025 filing deadline is October 15, 2026. Small unfunded or fully insured welfare plans with fewer than 100 covered participants are generally exempt.
Penalties for Noncompliance
The Department of Labor (DOL) may assess penalties of up to $2,739 per day for failing to file a complete Form 5500. Penalties may be waived for reasonable cause, and plan administrators may reduce exposure by using the Delinquent Filer Voluntary Compliance Program.
Action Steps
Employers should confirm whether their prescription drug coverage is creditable, send Medicare Part D notices by October 15, 2026, and, if they filed Form 5558, work with their service providers to submit Form 5500 through the DOL’s EFAST2 electronic filing system. Download the bulletin for more details.
