Form 5500 Schedule C: service provider compensation
Schedule C of Form 5500 discloses compensation paid to a benefit plan’s service providers. It is one of the most useful schedules for understanding who is paid in connection with a retirement or welfare plan, and how much, based on public federal filings.
What Schedule C reports
- Service provider names and the services they provided.
- Direct compensation paid from plan assets.
- Indirect compensation, such as revenue sharing from third parties.
- The reporting (filing) year for each disclosure.
Plan5500.com presents reported Schedule C figures objectively. We do not characterize fees as high, low, excessive, or reasonable. Any future benchmarking will be governed by a documented, transparent methodology.
Schedule C frequently asked questions
What is Form 5500 Schedule C?
Schedule C is the part of a large plan’s Form 5500 that reports compensation paid to service providers, such as recordkeepers, investment managers, consultants, and brokers. It distinguishes direct compensation (paid by the plan) from indirect compensation (paid by third parties).
What is the difference between direct and indirect compensation?
Direct compensation is paid to a service provider directly from plan assets. Indirect compensation comes from sources other than the plan or plan sponsor, such as revenue sharing. Both are reported on Schedule C for covered service providers.
Which plans file Schedule C?
Schedule C generally applies to large plans (typically 100 or more participants) that must file as large-plan filers. Small plans usually do not file Schedule C.