Understanding Your CP295A Notice


What this notice is about

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.

Frequently asked questions

What steps can I take if I can't pay the full amount?

Visit Paying Your Taxes 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.

Helpful information

Publication 594, The IRS Collection ProcessPDF