Details of the SECURE Act – Part Fourteen: Penalties for Late Filing of Form 5500 and 8955-SSA
Section 403 and 404 of the Act increased the fees for late filing for Form 5500 and Form 8955-SSA.
Form 5500
How to Understand and Review Form 5500
Plan Administrators need to know how to read and understand key questions on the annual Form 5500.
Increases in Penalty Amounts for Plan Violations
Congress passed the 2015 Inflation Adjustment Act to ensure federal agencies comply with the requirement to adjust penalties each year for inflation.
New Tax Filing Deadlines
A new Act recently signed into law modifies the tax filing deadline for certain business tax returns and the Form 5500.
Safeguarding Your Plan from Fraud
The IRS reviews Forms 5500 where plan sponsors have reported losses due to fraud or dishonesty.
New Compliance Questions on Form 5500 Filing
The IRS will be asking new compliance questions on Forms 5500 and 5500-SF.
New Form 5500 Reporting Requirements for MEPs
Multiple Employer Plans now have to include an attachment to the Form 5500 to list all participating employers.
New IRS Program Offers Relief for Late Filers of Form 5500-EZ
The IRS has made available a pilot program for Form 5500 EZ filers to send in delinquent filings with no penalty.
Form 5500 Search
Download Form 5500 if you know the plan name or EIN.