IRS Seeks More Forms 5500 Information
The IRS has published in today’s Federal Register a notice offering the general public and other federal agencies the opportunity to comment on proposed changes to the information the agency collects on Form 5500, Annual Return/Report of Employee Benefit Plan, and the other returns in this series, Form 5500-SF, and Form 5500-EZ.
The IRS is proposing to add to these returns a checkbox to indicate if the plan was retroactively adopted under Section 201 of the Setting Every Community Up for Retirement Enhancement (SECURE) Act. It is also proposing to add checkboxes to Form 5500-EZ to indicate if the plan return was filed under an automatic extension or under a special extension.
Written comments must be received by November 2, 2020, to be considered.
