How to read a 401(k) Form 5500

What the filing is

Form 5500 is the annual report of a retirement plan. One filing covers one plan for one plan year. The plan administrator signs it.

The Department of Labor says who must be able to read the report.

Annual reports filed under Title I of ERISA must be made available by plan administrators to plan participants and beneficiaries and by the DOL to the public under ERISA sections 104 and 106.

Copied from 2025 Instructions for Form 5500 on 18 Oct 2026.

This guide gives no advice. The line numbers are those of the 2025 forms. For the parts of a filing in short, see what Form 5500 shows and does not show.

Find the filing

A plan page gives the EIN and the plan number of the plan. Use both to find the same filing in the Form 5500 Search of the Department of Labor.

A participant can also ask the plan administrator in writing for the most recent Form 5500. The plan can charge a reasonable copying fee.

Which schedules a plan attaches

The number of participants at the start of the plan year sets the schedules. A plan with 100 or more participants files as a large plan. A plan with fewer than 100 files as a small plan.

A 401(k) plan is a defined contribution plan. It uses line 6g(1) for this count, the participants with account balances at the start of the plan year. Other plans use line 5. A plan on its first return uses line 6g(2).

A large plan attaches Schedule H, the financial statement. It attaches Schedule C when a service provider received $5,000 or more. A small plan attaches Schedule I. A small plan that is eligible can file Form 5500-SF instead.

The 80-120 participant rule gives some plans a choice. A plan with 80 to 120 participants can file in the same category as the year before, large or small. It must have filed Form 5500 for that year.

The Schedule H instructions state the same choice with another number. A plan can file Schedule I in place of Schedule H. It needs fewer than 121 participants. It must have filed Schedule I or Form 5500-SF for the prior year.

When a filing has no Schedule H, the plan page says so. The site then has no figures for contributions, fees or assets of that plan year.

Where each part appears on a plan page

The parts of a 401(k) filing in the order of the form, and the section of a plan page for each part
Part of the filing	What it holds	On a plan page
Form 5500, Part I	The dates of the plan year. Boxes for a first, final or amended return.	The plan year in the head. The marks on the form for a first or final return.
Form 5500, Part II, lines 1 and 2	Plan name, plan number, sponsor name, EIN and business code.	The head. The business code in other answers in the filing.
Form 5500, lines 5 and 6	Participants at the start and at the end of the plan year.	Assets and participants.
Form 5500, line 8a	Plan characteristics codes, such as 2J for a 401(k) feature.	The plan type in the head. The codes in other answers in the filing.
Schedule H, Part I	Assets and liabilities at the start and at the end of the plan year.	Assets and participants.
Schedule H, Part II, line 2a	Contributions.	Contributions.
Schedule H, Part II, line 2i	Administrative expenses, by type.	Fees that the filing shows.
Schedule H, Parts III and IV	The opinion of the accountant and yes or no questions.	Other answers in the filing.
Schedule C	Service providers that received $5,000 or more.	Service providers on Schedule C. The Schedule C compensation in fees.

Participants

Line 5 of the main form is the total number of participants at the start of the plan year. Line 6f is the total at the end. Lines 6g(1) and 6g(2) count the participants with account balances, at the start and at the end. Only defined contribution plans complete line 6g.

A participant is not always an active worker. The count includes employees who can choose to defer pay into a 401(k) plan. It also includes retired or separated people who have a right to benefits.

A plan page shows these counts under assets and participants. The figures for each active participant divide by the count of active participants.

Assets

Part I of Schedule H lists assets and liabilities at the start and at the end of the plan year. Line 1f is total assets. Line 1k is total liabilities. Line 1l is net assets.

Line 1c groups investments by type. Examples are participant loans (line 1c(8)) and interests in registered investment companies, for example mutual funds (line 1c(13)). The line shows the type of vehicle. It does not name each fund.

A filing with Schedule H generally also attaches a schedule of assets held at the end of the year. The Instructions for Form 5500 describe it.

Contributions

Part II of Schedule H lists income and expenses for the year. Line 2a lists contributions.

Line 2a(1)(A): cash from employers.
Line 2a(1)(B): cash from participants.
Line 2a(1)(C): cash from others, including rollovers.
Line 2a(2): noncash contributions.
Line 2a(3): the total.

For a pension plan, the participant line includes the elective contributions of a 401(k) arrangement. The line shows cash received. A plan that uses accrual accounting shows cash due to be received.

Administrative expenses and service providers

Line 2i lists administrative expenses in 11 types. Line 2i(12) is the total. Four examples follow.

Line 2i(3): recordkeeping fees.
Line 2i(4): IQPA audit fees. The IQPA is the independent qualified public accountant.
Line 2i(5): investment advisory and investment management fees.
Line 2i(8): legal fees.

Schedule C names each person who received $5,000 or more in total direct or indirect compensation for services to the plan. The form lists some exceptions.

The two lists overlap but are not the same list. For direct and indirect compensation, the service codes and what the total leaves out, see how to read Schedule C fees.

What the filing does not show

The match formula. Line 2a(1)(A) gives one total for employer contributions. It does not say how the employer sets the total. The summary plan description (SPD) holds that rule. DOL rules say the SPD must state the sources of contributions and the method used to calculate the amount of contribution. A plan gives a participant the SPD within 90 days of the date the person becomes a participant.

Fund expense ratios. Schedule H has no line for the cost of each fund. The Department of Labor says that investment fees are deducted from investment returns. It says that statements of investments do not identify these fees specifically.

A separate rule covers a plan where participants direct their investments. The plan administrator must give each participant the total annual operating expenses of each investment option with a return that is not fixed. The rule gives it this way.

The total annual operating expenses of the investment expressed as a percentage (i.e., expense ratio), calculated in accordance with paragraph (h)(5) of this section;

Copied from 29 CFR 2550.404a-5(d)(1)(iv)(A)(2) on 18 Oct 2026.

The plan gives this on or before the date a participant can first direct investments, and at least once in any 14-month period after that. The rule also asks for a statement each quarter of the dollar amount of fees charged to the account of the participant.

The account of a person. The filing gives totals for the plan. It has no balance, pay or name for any participant. A plan where participants direct their investments must send an individual benefit statement at least once each calendar quarter. A plan where participants do not direct their investments sends one at least once each calendar year.

The law says that a statement must show the total benefits accrued. It must also show the benefits that are nonforfeitable, which means vested, or the date when they become so.

Where to get the missing facts

The plan administrator holds these documents.

The SPD, for the match formula.
The fee disclosure for participants, for the expense ratio of each investment option.
The latest individual benefit statement, for the balance of the account.

If a plan does not give a participant the SPD, the Employee Benefits Security Administration (EBSA) gives help. Its toll-free number is 1-866-444-3272.

Checked against

The site checked this guide against these files on 18 Oct 2026.

Last checked against the agency pages on 18 Oct 2026