What this schedule is for
Schedule I is the financial-information schedule used by qualifying small plans that file the full Form 5500 and meet the applicable conditions.
Preparation checklist
- Confirm the plan qualifies to use Schedule I for the filing year.
- Reconcile plan assets, liabilities, income and expenses.
- Review compliance questions carefully before finalizing.
- Keep supporting financial records with the plan file even when they are not filed.
How it fits into the Form 5500 workflow
Schedule requirements are driven by the plan's facts, funding arrangements and filing type. A good preparation process starts with the main Form 5500 or Form 5500-SF determination, then adds only the schedules required by the current instructions.
Do not rely on the schedule name alone. Review the current Form 5500 instructions and the schedule-specific instructions for the filing year before deciding whether the schedule is required.