Glossary term
Group of Plans (GoP)
A group of plans is a Form 5500 reporting arrangement that lets certain defined contribution plans file one consolidated annual report if requirements are met.
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What Is a Group of Plans?
A group of plans, often shortened to GoP, is a Form 5500 reporting arrangement for certain defined contribution plans. It allows eligible plans with common characteristics to file one consolidated annual report, while still preserving plan-level reporting details.
The concept came from SECURE Act reporting changes meant to reduce filing burden for similar defined contribution plans. It is mainly a plan-sponsor and administrator term, not something most employees will see in their account interface.
Key Takeaways
- A group of plans is a consolidated Form 5500 reporting option for certain defined contribution plans.
- Participating plans must meet specific common-feature requirements.
- The arrangement is a reporting structure, not a merger of plan assets into one plan.
- Each participating plan still has its own fiduciary, operational, and compliance obligations.
What Gets Consolidated
A GoP filing can reduce duplicate annual reporting work when plans are similar enough to qualify. The reporting arrangement is associated with defined contribution individual account plans that share required features such as plan year, trustee, named fiduciary, plan administrator, and investment options.
The consolidated filing does not mean every employer is in one multiple employer plan. Each plan can remain a separate plan with its own sponsor and obligations. The reporting format is the thing being grouped.
Feature | GoP Treatment |
|---|---|
Plan identity | Each participating plan remains separate. |
Annual report | Eligible plans may use one consolidated Form 5500 filing. |
Plan-level data | Required schedules preserve individual plan information. |
Fiduciary duties | Do not disappear because reporting is consolidated. |
Administrative Tradeoffs
The appeal of a GoP is administrative efficiency. Recordkeepers, advisers, and plan sponsors may be able to streamline annual reporting for similar plans. But the arrangement still requires careful eligibility review and accurate plan-level information.
For small employers, the practical question is whether the reporting arrangement truly reduces burden without obscuring responsibilities. A GoP can simplify a filing process, but it is not a substitute for plan governance.
The Bottom Line
A group of plans is a specialized Form 5500 reporting option for eligible defined contribution plans. It can reduce administrative duplication, but each plan still needs proper operation, fiduciary oversight, and accurate reporting.