StratEdge Research · 2023 plan year
The StratEdge Index
Just 55% of U.S. retirement & benefit plan filings met the original federal deadline in 2023 — and on-time rates collapse as plans grow more complex. A benchmark of operational friction, built from 875,610 public Form 5500 filings.
55.0%
Met the original federal deadline
39.6%
Relied on the extension window
5.4%
Missed even the extended deadline
875,610
Filings analyzed (2023)
How 2023 filings arrived
Share of all filings, by timing vs. the federal deadline
Key finding
On-time rates collapse as plans grow
The largest, most document-heavy plans are the least likely to meet the original deadline — only 22.7% of plans with 1,000+ participants did, versus 59.2% of micro plans. Complexity drives friction.
Micro (< 100)
730,012 filings
59.2%
Small (100–499)
102,197 filings
38.3%
Mid (500–999)
17,943 filings
27%
Large (1,000+)
25,458 filings
22.7%
On-time filing rate by plan size. Source: U.S. Department of Labor EFAST2 — Form 5500 & 5500-SF public filings, 2023 plan year (n = 875,610).
Friction by plan size
| Plan size (participants) | Filings | On-time | Extension window | Past deadline |
|---|---|---|---|---|
| Micro (< 100) | 730,012 | 59.2% | 36.2% | 4.6% |
| Small (100–499) | 102,197 | 38.3% | 52.5% | 9.2% |
| Mid (500–999) | 17,943 | 27% | 63.5% | 9.5% |
| Large (1,000+) | 25,458 | 22.7% | 69% | 8.4% |
Source: U.S. Department of Labor EFAST2 — Form 5500 & 5500-SF public filings, 2023 plan year (n = 875,610).
Friction is the problem we solve
Nearly half of all plan filings miss the original federal deadline. StratEdge gives document-heavy operations one control layer — intake, document tracking, follow-up, and AI assistance — so deadlines stop slipping.
Methodology & data source
Computed from the U.S. Department of Labor EFAST2 public Form 5500 and 5500-SF datasets (2023 plan year, latest versions). Each filing is classified by its receipt date against the statutory deadline (last day of the 7th month after plan-year end) and the automatic extension deadline (15th day of the 10th month). All inputs are public; no confidential or customer data is used.
n = 875,610 filings with a 2023 plan-year end. Extension status is inferred from receipt timing rather than the under-reported extension flag, so figures are conservative and reproducible. Audit exposure (16.6%) reflects plans with 100+ participants that generally require an independent audit.