Understanding Your CP295A Notice
We charged you a penalty on your Form 5500.
What you must 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 irs.gov/Payments 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.