DOL Releases Advance Copies of Revised Form 5500 There are three significant changes to the Form 5500 for the 2007 plan year, according to the DOL: (1) A simplified reporting option for eligible plans with fewer than 25 participants required by the Pension Protec-tion Act (PPA); (2) Revised Schedule B instructions to reflect updated mortality tables and the list of codes used for valuation purposes as well as for calculating current liability of plan years beginning on or after Jan. 1, 2007; and (3) Instructions that caution certain filers that, due to form changes required by the PPA that will appear in the 2008 Form 5500, they will have to wait for the 2008 forms rather than using the 2007 forms if they must file a 2008 short plan-year report.