Pension & Benefits News IRS seeks comments on revision of Form 5500 series
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Thursday, October 8, 2020

IRS seeks comments on revision of Form 5500 series

By Pension and Benefits Editorial Staff

The IRS is seeking comments on a revision of a currently approved collection of information concerning the Form 5500 (Annual Return/Report of Employee Benefit Plan) series. The IRS is making changes that include adding a new checkbox to Form 5500, 5500-SF, and Form 5500-EZ for an initial plan retroactively adopted as permitted by SECURE Act section 201, and adding a checkbox in Form 5500-EZ Part IB for an extension of time. As to the change to Form 5500-EZ, there are three checkboxes for extension of time on Form 5500 and Form 5500-SF, but there is only one extension of time checkbox on the current Form 5500-EZ. The IRS’ proposal will mirror Part I of the Form 5500 and Form 5500-SF.

Written comments, which should be received on or before November 2, 2020, should be directed to: Kinna Brewington, Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 20224.

Source: 85 FR 55077.

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