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Understanding Your CP295 Notice

We charged you a penalty on your Form 5500.


What you need to do

  • Pay the amount due to avoid additional penalty and interest charges.

Answers to Common Questions

What steps can I take if I can't pay the full amount?
Visit our website under the payment tab for more information about payment options.

What if I don't pay the amount by the due date?
Additional penalties and interest will accrue.

Can I request the penalty be removed or reduced?
If you believe a penalty should be reconsidered, mail a signed statement to the address on your notice. Identify which penalty you want reconsidered and why. We'll review the information and let you know if we accept your explanation.

Page Last Reviewed or Updated: 09-Apr-2014

How to get help

  • Call the 1-800 number listed on the top right corner of your notice.
  • Authorize someone (e.g., accountant) to contact the IRS on your behalf using Form 2848.
  • See if you qualify for help from a Low Income Taxpayer Clinic.