The Department of Labor’s Form 5500 is an annual filing required of qualified retirement plans. To avoid this requirement for nonqualified deferred compensation plans, a company must file a statement with the DOL within 120 days of adopting the top hat plan, and the statement must contain the following information:

• the name, address, and IRS identification number of the employer
• a declaration that the employer maintains the plan primarily for the purpose of providing deferred compensation for a select group of management or highly compensated employees
• the number of employees in the plan

For information on what is involved in setting up NQDC plans, see a related FAQ.