Get IRS 5500-EZ Instructions 2021-2024

A filer must file the Form 5500-SF electronically (see EFAST2 Filing System) instead of filing a paper Form 5500-EZ if the filer is required to file at least 250 returns of any type with the IRS, including information returns (for example, Forms W-2 and Forms 1099), income tax returns, employment tax returns, and ...

Which employers are required to file a Form 5500 for health and welfare plans? The Form 5500 is an ERISA requirement for all health and welfare plans.

The IRS penalty for late filing of a 5500-series return is $25 per day, up to a maximum of $15,000.

When do you file a Form 5500? The Form 5500 form is due by the last day of the seventh month following the last day of the plan year. For example, plans that end on December 31st are required to file the Form 5500 by no later than July 31st of the following year.

Generally, the Form 5500 version a 401(k) plan must file for a year is based on its participant count. ... Solo 401(k) plans with less than $250,000 in plan assets as of the last day of the plan year don't have to file a Form 5500-EZ (or any Form 5500 at all).

Very small employers whose employees are limited to owners or partners and their spouses must file Form 5500-EZ with the IRS for any year in which plan assets exceed $250,000 ($100,000 for years prior to 2007).

The Form 5500 is an annual report, filed with the U.S. Department of Labor (DOL), that contains information about a 401(k) plan's financial conditions, investments, and operations. ... In general, all retirement plans, such as profit-sharing and 401(k) plans, must file a Form 5500 for every year the plan holds assets.

Form 5500 annual return or report filing is due on the last day of the seventh month after the plan year ends, with an optional two-and-a-half-month extension. For plans that follow a calendar year, Form 5500 for the prior year is due on July 31, with an extension available to Oct. 15.

An employer can apply for an automatic 2 ½ month extension of time to file their Form 5500 by filing a Form 5558 (extending the filing deadline to October 15 for calendar-year plans). The Form 5558 must be filed before the due date of the Form 5500.

Form 5500 annual return or report filing is due on the last day of the seventh month after the plan year ends, with an optional two-and-a-half-month extension. For plans that follow a calendar year, Form 5500 for the prior year is due on July 31, with an extension available to Oct. 15.

When to file. To request an extension of time to file Form 5500, Form 5500-SF, Form 5500- EZ, and/or Form 8955-SSA, file Form 5558 on or before the return/report's normal due date. The normal due date is the date the Form 5500, Form 5500-SF, Form 5500-EZ, and/or Form 8955-SSA would otherwise be due, without extension.

No. The Form 5500 and 5500-SF must be filed electronically. One-participant plans or foreign plans may file the Form 5500-SF electronically in place of a Form 5500-EZ on paper with the IRS. See the IRS' Form 5500 Corner for more information.

Late filed returns are subject to penalties from both IRS and DOL, so it's very important to identify this mistake before we do. The IRS penalty for late filing of a 5500-series return is $25 per day, up to a maximum of $15,000. The DOL penalty for late filing can run up to $1,100 per day, with no maximum.

Form 5500 annual return or report filing is due on the last day of the seventh month after the plan year ends, with an optional two-and-a-half-month extension. For plans that follow a calendar year, Form 5500 for the prior year is due on July 31, with an extension available to Oct. 15.

The employer maintaining the plan or the plan administrator of a Pension or Welfare benefit plan covered by ERISA must generally file the Form 5500 to report information concerning the qualification of the plan, its financial condition, investments and the operations of the plan.