IRS Issues 2019 Form 5500-EZ Instructions

On January 16, 2020, the IRS issued instructions for FORM 5500-EZ, a form used by one-participant plans that are not subject to the requirements of IRC section 104(a) of ERISA.

The IRS updated the instructions with penalty changes. If a plan fails to file a return, then the penalties are now $250 per day, up to a maximum of $150,000 per plan year. Returns required to be filed after December 31, 2019, are subject to these increased penalties.

Business owners covered by these plans should be aware of the increased penalties that could be imposed if they fail to file.

Instructions for Form 5500-EZ »