IRS 5500-EZ 2024-2025 free printable template

Catalog Number 63263R Form 5500-EZ 2024 Page 2 Amount Contributions received or receivable from 7a b Participants. Is this a defined benefit plan that is subject to minimum funding requirements If Yes complete Schedule SB Form 5500 and line 10a below see instructions Enter the unpaid minimum required contributions for all years from Schedule SB Form 5500 line 40. C Net plan assets subtract line 6b from 6a 2 End of year 6a 6b 6c For Privacy Act and Paperwork Reduction Act Notice see the...Instructions for Form 5500-EZ. Certain foreign retirement plans are also required to file this form see instructions. Complete all entries in accordance with the instructions to the Form 5500-EZ. Form 5500-EZ Department of the Treasury Internal Revenue Service Part I Annual Return of A One-Participant Owners/Partners and Their Spouses Retirement Plan or A Foreign Plan OMB No. 1545-1610 This form is required to be filed under section 6058 a of the Internal Revenue Code. 11e If the plan sponsor is...an adopter of a pre-approved plan that received a favorable IRS Opinion Letter enter the date of the Opinion Letter / the Opinion Letter serial number Caution A penalty for the late or incomplete filing of this return will be assessed unless reasonable cause is established. Under penalties of perjury I declare that I have examined this return including if applicable any related Schedule MB Form 5500 or Schedule SB Form 5500 signed by an enrolled actuary and to the best of my knowledge and belief...it is true correct and complete. Go to www*irs*gov/Form5500EZ for instructions and the latest information* This Form is Open to Public Inspection* Annual Return Identification Information For the calendar plan year 2024 or fiscal plan year beginning MM/DD/YYYY and ending A This return is 1 the first return filed for the plan 3 the final return filed for the plan 2 an amended return 4 a short plan year return less than 12 months B Check box if filing under Form 5558 automatic extension special...extension enter description C If this return is for a foreign plan check this box see instructions. D Must be filed on a paper Form with the IRS* See instructions. E If this is a retroactively adopted plan permitted by SECURE Act section 201 check here. 1a. Basic Plan Information enter all requested information* 1b Three-digit plan number PN Name of plan 1c Date plan first became effective MM/DD/YYYY 2a 2b Employer Identification Number EIN Employer s name Do not enter your Social Security...Number Trade name of business if different from name of employer 2c Employer s telephone number In care of name 2d Business code see instructions Mailing address room apt. suite no. and street or P. O. box City or town state or province country and ZIP or foreign postal code if foreign see instructions 3a Plan administrator s name if same as employer enter Same 3b Administrator s EIN If the employer s name the employer s EIN and/or the plan name has changed since the last return filed for this...plan enter the employer s name and EIN the plan name and the plan number for the last return in the appropriate space provided a 4b EIN 4c Plan name 4d PN 5a 1 Total number of participants at the beginning of the plan year.

Instructions and Help about IRS 5500-EZ

How to edit IRS 5500-EZ

How to fill out IRS 5500-EZ

Instructions and Help about IRS 5500-EZ

How to edit IRS 5500-EZ

To edit IRS 5500-EZ, you can use pdfFiller's online tools. Once you upload the form to the platform, you can make necessary changes directly on the document. After editing, ensure all updates are accurate before saving the modified version.

How to fill out IRS 5500-EZ

To fill out IRS 5500-EZ, follow these steps:

1. Download the form from the IRS website or access it through pdfFiller.
2. Begin by providing your plan information, including the name and sponsor of the plan.
3. Fill in the plan year, total plan assets, and any applicable financial information.
4. Review the form for completeness, making sure all required fields are filled correctly.
5. Sign the form before submission and retain a copy for your records.

Latest updates to IRS 5500-EZ

Latest updates to IRS 5500-EZ

The IRS periodically updates Form 5500-EZ to reflect changes in tax laws and regulations. For the most recent updates, check the IRS official website or consult a tax professional to ensure compliance with the current filing requirements.

All You Need to Know About IRS 5500-EZ

What is IRS 5500-EZ?

What is the purpose of this form?

Who needs the form?

When am I exempt from filling out this form?

Components of the form

What are the penalties for not issuing the form?

What information do you need when you file the form?

Is the form accompanied by other forms?

Where do I send the form?

All You Need to Know About IRS 5500-EZ

What is IRS 5500-EZ?

IRS 5500-EZ, also known as the Annual Return of One-Participant (Owners and Their Spouses) Retirement Plan, is a tax form used by certain retirement plan sponsors. It is specifically designed for one-participant retirement plans to report information about the plan to the IRS.

What is the purpose of this form?

The purpose of IRS 5500-EZ is to provide the IRS with information about a retirement plan's operations, assets, and financial condition. This form helps ensure tax compliance and transparency regarding one-participant retirement plans.

Who needs the form?

IRS 5500-EZ is required for plan sponsors of one-participant retirement plans, which typically include sole proprietors, partnerships, and single-member LLCs. If your retirement plan has only you and your spouse as participants, you must file this form annually if your plan's assets exceed $250,000 at the end of the plan year.

When am I exempt from filling out this form?

You may be exempt from filing IRS 5500-EZ if your one-participant retirement plan has less than $250,000 in assets at the end of the plan year. Additionally, if the plan has been distributed or terminated, and all assets are withdrawn, you may not need to file.

Components of the form

IRS 5500-EZ includes several key components: plan identification information, financial information regarding assets and liabilities, contributions made during the year, and details on the plan sponsor's identification. Each section must be accurately completed to ensure compliance with IRS regulations.

What are the penalties for not issuing the form?

The penalties for failing to file IRS 5500-EZ can be substantial. If you do not file the form on time, you may incur a penalty of up to $25 per day that the return is late, with a maximum penalty of $15,000. Additionally, failure to provide correct information can lead to further penalties, emphasizing the importance of timely and accurate filing.

What information do you need when you file the form?

When filing IRS 5500-EZ, you will need the following information:

1. Plan sponsor's name and address.
2. The plan's specific identification details.
3. Total assets at the end of the plan year.
4. Details of any contributions or distributions made during the year.

Is the form accompanied by other forms?

Generally, IRS 5500-EZ is filed as a standalone form. However, in certain circumstances, you may need to submit additional documentation such as a financial statement or other forms related to plan operations, depending on the specific requirements stipulated by the IRS.

Where do I send the form?

IRS 5500-EZ should be mailed to the address provided in the form instructions. Typically, for plans based in the U.S., the form is sent to the Department of Labor at the address specified on the latest version of the form. It is crucial to verify the destination is correct to avoid processing delays.

FAQ about IRS 5500-EZ

What should I do if I realize I've made an error on my IRS 5500-EZ after submission?

If you discover an error after submitting your IRS 5500-EZ, you can amend your filing by completing a new form reflecting the corrections. Be sure to indicate that the form is an amendment, and submit it according to IRS guidelines. It's essential to keep records of both the original and amended forms for your documentation.

How can I track the status of my IRS 5500-EZ submission?

To verify the status of your IRS 5500-EZ submission, you can use the IRS online tools or contact their support for assistance. If you e-filed, keep an eye out for any confirmation emails indicating your submission was received. In case of rejection, you will typically receive a notification detailing the reasons.

Are there specific e-signature requirements for filing the IRS 5500-EZ?

When filing the IRS 5500-EZ electronically, ensure that your e-signature meets IRS standards. It's crucial that your signature is applied in a manner acceptable to the IRS, as improper signatures may lead to processing delays or additional inquiries.

What steps should I take if I receive a notice from the IRS regarding my 5500-EZ forms?

Upon receiving a notice from the IRS about your IRS 5500-EZ filing, promptly review the content of the notice and provide the requested information or documentation. It's advisable to respond within the specified time frame to avoid further penalties and ensure your compliance.