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On October 12, 2022 the Massachusetts Bankers Association (MBA) completed and filed IRS Form 5500 for banks participating in the Association sponsored BCBSMA medical, dental, and Medex plans and AIG business travel accident insurance. Form 5500 is an annual report, filed with the U.S. Department of Labor (DOL) to provide the IRS and DOL with information about the plan's operation and compliance with government regulations. Attached to this bulletin you will find a copy of the Form 5500 for your files. A summary annual report (SAR) is required under the Employee Retirement Income Security Act (ERISA) and summarizes the information reported on the Form 5500 and schedules. The SAR must be distributed to each participant and their beneficiaries’ receiving benefits under the plan no later than two months following the Form 5500 filing deadline, which is normally Sept. 15. Because MBA filed an extension you have until December 15, 2022. The SAR provides participants with a summary of the plan's financial status as reported on the Form 5500. Participants are also informed of their right to receive a copy of the Form 5500 if requested from you, the employer. Plan Year 2021 Form 5500 Plan Year 2021 Summary Annual Report Employers can distribute the SAR through in-person hand delivery, U.S. mail, or electronic delivery (but must comply with electronic distribution rules).