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A retirement plan that covers only the owner(s) of the company and, if applicable, the spouse(s) of the owner(s) is generally exempt from filing a Form 5500 until the total plan assets are at least $250,000 as of the last day of the plan year.
Although Form 5500 must be filed electronically with the DOL (with limited exceptions for certain retirement plans), Form 5558 is filed in paper form with the IRS. A separate Form 5558 should be filed for each Form 5500 for which an extension is desired.
Filing Requirements There are 3 types of Form 5500: Form 5500-EZ\u2014for one-participant plans only; Form 5500-SF for plans with fewer than 100 participants; and Form 5500\u2014for plans with 100 or more participants.
You can use EFAST2 Internet Filing (IFILE), which is a free Internet-based filing tool designed for individual filers and service providers who choose to not use value-added, EFAST2-approved third party software to complete their Form 5500/Form 5500-SF filings.
The IRS encourages all one-participant plans and foreign plans to e-file their 2020 Forms 5500-EZ. Abstract: The IRS recently reminded sponsors of one-participant plans and foreign plans that Form 5500-EZ can be filed electronically using the U.S. Department of Labor's EFAST2 filing system.
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To search for a specific plan filing start by going to https://www.efast.dol.gov/portal/app/disseminate. From there you can search based on plan name, sponsor name, plan administrator, filing ID, acknowledgment ID, EIN (Employer Identification Number), and PN (Plan Number).
The employer maintaining the plan or the plan administrator of a Pension or Welfare benefit plan covered by ERISA. File Form 5500 to report information on the qualification of the plan, its financial condition, investments and the operations of the plan. Must file electronically through EFAST2.
Under ERISA, a Form 5500 is required on behalf of any welfare benefit plan that: Has 100 or more participants as of the beginning of the plan year. Is funded through a trust, regardless of participant count.
Calling 800-908-9946; or. Completing and sending either Form 4506-T or Form 4506T-EZ to the IRS. You can also use Form 4506-T to request other tax records such as tax account transcript, record of account, wage and income, and verification of non-filing.
Form 5500-EZ is used by one-participant plans that are not subject to the requirements of Internal Revenue Code section 104(a) of the Employee Retirement Income Security Act of 1974 (ERISA) and that are not eligible or choose not to file Form 5500-SF, Short Form Annual Return/Report of Small Employee Benefit Plan, ...

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