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Employee Plans Compliance Unit (EPCU) - Current Projects - Form 5500 Non-Filer Project

Background

Federal law requires most retirement plans to file annual information returns. We are contacting taxpayers who are required to file either Form 5500 (or 5500-SF) with the Department of Labor (DOL) or Form 5500-EZ with the Internal Revenue Service (IRS), but who have not filed these forms for plan years ending in 2010 or later. Penalties may be assessed by the IRS or DOL (or both) for failure to file a timely return without reasonable cause.

 


The Project Process

We identified a population who did not file returns for plan years ending in 2010; we will correspond with the plans identified to solicit any unfiled returns that are past due and to gather information needed to understand why the returns were not filed. Our primary goal is to verify that plans comply with the filing requirements of the Code. Additional goals include identifying the underlying causes for noncompliance and making recommendations for removing impediments to compliance.

If You Receive A Letter
Please provide a timely response to the information request, particularly the date you filed or will file your return. If you have filed the return in question, or, if you believe you are not required to file, please provide an explanation. You may also furnish any other documents or clarifying material that you believe will be helpful for us to review. You should make every effort to be as complete and accurate as possible in your responses.

If you have not filed a required return, please file it as soon as possible; the letter contains brief filing information and sources of additional information you may need. Please note that beginning with the 2009 plan year filings, the DOL requires that the Form 5500 series for all plans covered by Title I of ERISA be filed electronically using EFAST2. If your plan is not covered by Title I of ERISA, you must file the appropriate Form 5500-EZ with the IRS Service Center.

This letter initiates a compliance check. We will not inspect your books and records to determine a filing liability for a particular tax period. Failure to respond may not, of itself, be cause for an audit; however, a failure to file a required return will necessitate other measures and possibly result in assessed penalties to ensure compliance.

If You Have Questions
Please feel free to e-mail us and we will be glad to answer any questions you have about the project and how it relates to you. Please include “Non-Filer Project” in the Subject line of the message.

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Page Last Reviewed or Updated: 07-Nov-2013