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Form 5500-EZ is used by one-participant plans and foreign plans that are not subject to the requirements of section 104(a) of the Employee Retirement Income Security Act of 1974 (ERISA) and that do not file Form 5500-SF electronically to satisfy certain annual reporting and filing obligations imposed by the Code.
A one-participant plan or a foreign plan (as defined under Who Must File Form 5500-EZ) cannot file an annual return on Form 5500, Annual Return/Report of Employee Benefit Plan, regardless of whether the plan was previously required to file an annual return on Form 5500. Therefore, every one-participant plan required to file an annual return must file paper Form 5500-EZ with the IRS or electronically file Form 5500-SF using the EFAST2 Filing System in place of filing Form 5500-EZ.
You must file Form 5500-EZ for a retirement plan if the plan is a one-participant plan or a foreign plan that is required to file an annual return and you do not file the annual return electronically on Form 5500-SF.
A one-participant plan means a retirement plan (that is, a defined benefit pension plan or a defined contribution profit-sharing or money purchase pension plan), other than an Employee Stock Ownership Plan (ESOP), which:
Covers only you (or you and your spouse) and you (or you and your spouse) own the entire business (which may be incorporated or unincorporated); or
Covers only one or more partners (or partners and their spouses) in a business partnership; and
Does not provide benefits for anyone except you (or you and your spouse) or one or more partners (or partners and their spouses).
A one-participant plan must file an annual return unless the plan meets the conditions for not filing under Who Does Not Have To File Form 5500-EZ below.
A foreign plan means a pension plan that is maintained outside the United States primarily for nonresident aliens.
A foreign plan is required to file an annual return if the employer who maintains the plan is:
A domestic employer, or
A foreign employer with income derived from sources within the United States (including foreign subsidiaries of domestic employers) if contributions to the plan are deducted on its U.S. income tax return.
If you are not eligible to file the Form 5500-EZ for a plan that is subject to the reporting requirements in section 104 of ERISA, you must electronically file Form 5500 or, if eligible, Form 5500-SF.
You do not have to file Form 5500-EZ for the 2016 plan year for a one-participant plan if the total of the plan's assets and the assets of all other one-participant plans maintained by the employer at the end of the 2016 plan year does not exceed $250,000, unless 2016 is the final plan year of the plan. For more information on final plan years, see Final Return later.
If a plan meets all the requirements for filing Form 5500-EZ and its total assets (either alone or in combination with one or more one-participant plans maintained by the employer) exceed $250,000 at the end of the 2016 plan year, Form 5500-EZ must be filed for each of the employer's one-participant plans including those with less than $250,000 in assets for the 2016 plan year.
You should use the total plan assets as listed as of the end of the plan year on line 7a(2) of this form to determine whether the plan(s) assets exceed $250,000. If an employer maintains one or more one-participant plans, the total assets of all one-participant plans combined must be counted towards the amount of $250,000.
One-participant plans and foreign plans may satisfy their filing obligation under the Code by filing Form 5500-SF electronically under EFAST2 in place of Form 5500-EZ (on paper).
One-participant plans and foreign plans need complete only the following questions on the Form 5500-SF.
Part I, lines A, B, and C;
Part II, lines 1a–5b, 5d(1), 5d(2), and 5(e);
Part III, lines 7a–c, and 8a;
Part IV, line 9a;
Part V, line 10g; and
Part VI, lines 11–12e.
Under EFAST2, you must electronically file the 2016 Forms 5500 and 5500-SF using EFAST2's web-based filing system or you may file through an EFAST2-approved vendor. The 2016 Form 5500-EZ will be filed on paper and cannot be filed with this electronic system. For more information, see the EFAST2 website at www.efast.dol.gov. For telephone assistance, call the EFAST2 Help Line at 1-866-GO-EFAST (1-866-463-3278). The EFAST2 Help Line is available Monday through Friday.
A filer must file Form 5500-SF electronically instead of filing Form 5500-EZ if the filer is required to file at least 250 returns of any type with the IRS during the calendar year. See How To File for more information.
If a filer is not subject to the IRS mandatory electronic filing requirement under Treasury Regulations section 301.6058-2, a Form 5500-SF may also be filed for a one-participant plan or a foreign plan instead of filing Form 5500-EZ regardless of whether or not the plan covered more than 100 participants at the beginning of the plan year or satisfies other conditions listed in the Instructions for Form 5500-SF.
Information filed on Form 5500-EZ and Form 5500-SF is required to be made available to the public. However, the information for a one-participant plan or a foreign plan whether electronically filed with EFAST2 using a Form 5500-SF or filed on paper using a Form 5500-EZ will not be published on the Internet.
Plans required to file an annual return for one-participant (owners and their spouses) retirement plans or foreign plans may file Form 5500-EZ in accordance with its instructions. Filers of Form 5500-EZ are not required to file schedules or attachments related to Form 5500 with the 2016 Form 5500-EZ. However, you must collect and retain for your records completed Schedule MB (Form 5500), Multiemployer Defined Benefit Plan and Certain Money Purchase Plan Actuarial Information, if applicable, and completed and signed Schedule SB (Form 5500), Single-Employer Defined Benefit Plan Actuarial Information, if applicable. Even though you do not have to file the Schedule MB (Form 5500) or Schedule SB (Form 5500) with the 2016 Form 5500-EZ, you are still required to both perform an annual valuation and maintain the funding records associated with plan funding in the same manner as a plan for which the applicable schedule must be filed.
Employed an average of at least 2, but no more than 500, employees on business days during the calendar year prior to the establishment of the eligible combined plan; and
Employ at least 2 employees on the first day of the plan year that the plan is established.
The 2016 Schedule MB (Form 5500) and the 2016 Schedule SB (Form 5500) are available only electronically from the Department
of Labor website at
www.efast.dol.gov. You can complete the schedules online and print them out for your records. If you are a Form 5500-EZ filer, do not attempt to electronically file the Schedule MB or Schedule SB related to your 2016 Form 5500-EZ filing.
File the 2016 return for plan years that started in 2016. Form 5500-EZ must be filed by the last day of the 7th calendar month after the end of the plan year that began in 2016 (not to exceed 12 months in length).
If the filing due date falls on a Saturday, Sunday, or legal holiday, the return may be filed on the next day that is not a Saturday, Sunday, or legal holiday.
File the Form 5500-EZ at the following address:
Department of the Treasury
Internal Revenue Service
Ogden, UT 84201-0020
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Internal Revenue Service
1973 Rulon White Blvd.
Ogden, UT 84201
The plan administrator or employer (owner) must sign and date paper Form 5500-EZ for the 2016 filing.
For the 2016 plan year, the IRS has decided not to require plan sponsors to enter the preparer’s name (including firm name, if applicable), address, and telephone number at the bottom of the second page of Form 5500-EZ. Plan sponsors should skip these questions when completing the form.
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