Table of Contents
| General Instructions |
| Specific Instructions |
Section references are to the Internal Revenue Code unless otherwise noted.
Future developments.
For the latest information about developments related to Form 5500-EZ
and its instructions, such as legislation enacted after they were
published, go to to www.irs.gov/form5500ez.
To reduce the possibility of correspondence and penalties, we
remind
filers:
If you have questions and need help in completing this form, please call the IRS Help Line at 1-877-829-5500. This toll-free telephone service is available Monday through Friday.
You can find Form 5500-EZ and its instructions by visiting the IRS Internet website at www.irs.gov/formspubs. You can also find and order other IRS forms and publications at www.irs.gov/orderforms.
Personal computer.
You can access the IRS Internet website 24 hours a day, 7 days a week
at IRS.gov
to:
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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.
Note. 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:
Caution! Do not file an annual
return for a plan that is a
qualified foreign plan within the meaning of section 404A(e) that does
not qualify for the treatment provided in section 402(d).
Note. 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 2015 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 2015 plan year does not exceed $250,000, unless 2015 is the final plan year of the plan. For more information on final plan years, see Final Return later.
Example. 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 2015 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 2015 plan year.Paper Forms for Filing. The 2015 Form 5500-EZ must be filed on paper. File the official IRS printed Form 5500-EZ or the downloadable form found on the IRS website; or use approved software, if available.
You can complete the online, fillable 2015 Form 5500-EZ found on the IRS website and download it to your computer to print and sign before mailing to the address specified in these instructions. See Where To File.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:Under EFAST2, you must electronically file the 2015 Forms 5500 and 5500-SF using EFAST2's web-based filing system or you may file through an EFAST2-approved vendor. The 2015 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.
Note (1). 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.
Note (2). 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.
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 2015 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 2015 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.
Eligible combined plans. The Pension
Protection Act of 2006
established rules for a new type of pension plan, an “eligible combined
plan,” effective for plan years beginning after December 31, 2009. An
eligible combined plan consists of a defined benefit plan and a defined
contribution plan that includes a qualified cash or deferred
arrangement under section 401(k). The assets of the two plans are held
in a single trust, but clearly identified and allocated between plans.
The eligible combined plan design is available only to employers that:
Note. The 2015 Schedule MB (Form 5500) and the 2015 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 2015 Form 5500-EZ filing.
File the 2015 return for plan years that started in 2015. 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 2015 (not to exceed 12 months in length).
Note. 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.
Late Filer
Penalty Relief Program.
The Department of the Treasury and the IRS established a permanent
penalty relief program for late annual reporting for non-Title I
retirement plans effective June 3, 2015, providing administrative
relief to plan administrators and plan sponsors from the penalties
otherwise applicable under sections 6652(e) and 6692 for failing to
timely comply with the annual reporting requirements imposed under
section 6058. If the Form 5500-EZ is being filed under this late filer
penalty relief program, the applicant must print in red letters in the
top margin above the form’s title on the first page of the return:
“Delinquent Return Submitted under Rev. Proc. 2015-32, Eligible for
Penalty Relief.” Each submission must include a completed paper copy of
Form 14704 attached to the front of the oldest delinquent return in the
submission. Form 14704 can be found at www.irs.gov/pub/irs-pdf/f14704.pdf.
See Rev. Proc. 2015-32, 2015-24 I.R.B. 1063, for more information
File the Form 5500-EZ at the following address:
You can use certain private delivery services designated by
the IRS
to meet the “timely mailing as timely filing/paying” rule for tax
returns and payments. The private delivery services include only the
following:
The plan administrator or employer (owner) must sign and date paper Form 5500-EZ for the 2015 filing.
Enter the calendar or fiscal year beginning and ending dates of the plan year (not to exceed 12 months in length) for which you are reporting information. Express the date in numerical month, day, and year in the following order "MMDDYYYY" (for example, "01/01/2015").
For a plan year of less than 12 months (short plan year), insert the short plan year beginning and ending dates on the line provided at the top of the form. For purposes of this form, the short plan year ends on the date of the change in accounting period or the complete distribution of the plan's assets.Check box A(1) if this is the first filing for this plan. Do not check this box if you have ever filed for this plan, even if it was a different form (for example, Form 5500).
Check box A(2) if you are filing an amended Form 5500-EZ to correct errors and/or omissions in a previously filed annual return for the 2015 plan year. The amended Form 5500-EZ must conform to the requirements under the How To File section earlier.
If you are filing an amendment for a "one-participant plan" that filed a Form 5500-SF electronically, you may submit the amendment either electronically using the Form 5500-SF with EFAST2 or on paper using the Form 5500-EZ with the IRS. If you are filing an amended return for a one-participant plan that previously filed on a paper Form 5500-EZ, you must submit the amended return using the paper Form 5500-EZ with the IRS.All one-participant plans should file a return for their final plan year indicating that all assets have been distributed.
Check box A(3) if all assets under the plan(s) (including insurance/annuity contracts) have been distributed to the participants and beneficiaries or distributed or transferred to another plan. The final plan year is the year in which distribution of all plan assets is completed.Check box B if either of the following
applies:
Note. Line A of the Form 5558 asks for "Name of filer, plan administrator, or plan sponsor". The name of the plan sponsor is generally the same as the employer name for a one-participant plan.
Note. Filers
are
automatically granted an extension of time to file Form 5500-EZ until
the extended due date of the federal income tax return of the employer
(and are not required to file Form 5558) if all of the following
conditions are met:
The plan year and the employer's tax year are the same;
The
employer has been granted an extension of time to file its federal
income tax return to a date later than the normal due date for filing
the Form 5500-EZ; and
Be sure to check box B at the top of the form. An extension granted by using this exception cannot be extended further by filing a Form 5558 after the normal due date (without extension) of Form 5500-EZ.
Check box C if the return is filed by a foreign plan. See Who Must File Form 5500-EZ earlier.
Line 1a. top Enter the formal name of the plan.
Line 1b. top Enter the three-digit plan number (PN) that the employer assigned to the plan. Plans should be numbered consecutively starting with 001.
Once a plan number is used for a plan, it must be used as the plan number for all future filings of returns for the plan, and this number may not be used for any other plan even after the plan is terminated.Line 1c. top Enter the date the plan first became effective.
Line 2a.
top
Each row is designed to contain specific information regarding the
employer. Please limit your response to the information required in
each row as specified below:
Note. You can use Form 8822-B, Change of Address or Responsible Party - Business, to notify the IRS if you changed your business mailing address, your business location, or the identity of your responsible party.
Foreign Address. For foreign addresses, enter the information in the order of the city or town, state or province, country, and ZIP or foreign postal code. Follow the country's practice in placing the postal code in the address. Do not abbreviate the country name.Line 2b. top Enter the employer's nine-digit employer identification number (EIN). For example, 00-1234567. Do not enter a social security number (SSN).
Employers without an EIN must apply for one as soon as possible. EINs are issued by the IRS. You can apply for an EIN:Line 2c. top Enter the employer's telephone number including the area code.
Line 2d. top Enter the six-digit applicable code that best describes the nature of the plan sponsor's business from the list of principal business activity codes later in these instructions.
Line 3a.
top
Each row is designed to contain specific information regarding the plan
administrator. Please limit your response to the information required
in each row of boxes as specified below:
Line 3b. top Enter the plan administrator's nine-digit EIN. A plan administrator must have an EIN for Form 5500-EZ reporting purposes. If the plan administrator does not have an EIN, apply for one as explained in the instructions for line 2b.
Line 3c. top Enter the plan administrator's telephone number including the area code.
Line 4a. top The IRS has decided not to require plan sponsors to complete this question for the 2015 plan year, and plan sponsors should skip this question when completing the form.
Line 4b. top The IRS has decided not to require plan sponsors to complete this question for the 2015 plan year, and plan sponsors should skip this question when completing the form.
Line 5. top If the employer's name and/or EIN have changed since the last return was filed for this plan, enter the employer's name, EIN, and the plan number as it appeared on the last return filed for this plan.
Line 6a(1). top Enter the total number of participants at the beginning of the plan year.Note. Amounts reported on lines 7a, 7b, and 7c for the beginning of the plan year must be the same as reported for the end of the plan year on the return for the preceding plan year. Use whole dollars only.
Line 7a. top "Total plan assets" include rollovers and transfers received from other plans, unrealized gains and losses such as appreciation/depreciation in assets. It also includes specific assets held by the plan at any time during the plan year (for example, partnership/joint venture interests, employer real property, real estate (other than employer real property), employer securities, loans (participant and non-participant loans), and tangible personal property).
Enter the total amount of plan assets at the beginning of the plan year in column (1). Do not include contributions designated for the 2015 plan year in column (1). Enter the total amount of plan assets at the end of the plan year in column (2).Line 7b. top Liabilities include but are not limited to benefit claims payable, operating payables, acquisition indebtedness, and other liabilities. Do not include the value of future distributions that will be made to participants.
Lines 8a and 8b. top Enter the total cash contributions received and/or receivable by the plan from employers and participants during the plan year.
Line 8c. top Enter the amount of all other contributions including transfers or rollovers received from other plans valued on the date of contribution.
Line 9. top Enter the two-character plan characteristics from the List of Plan Characteristics Codes found later in these instructions.
Note. In the case of an eligible combined plan under section 414(x) and ERISA section 210(e), the codes entered in the boxes on line 9 must include any codes applicable for either the defined benefit pension features or the defined contribution pension features of the plan.
Line 10. top You must check "Yes," if the plan had any participant loans outstanding at any time during the plan year and enter the amount outstanding as of the end of the plan year.
Enter on this line all loans to participants including residential mortgage loans that are subject to section 72(p). Include the sum of the value of the unpaid principal balances, plus accrued but unpaid interest, if any, for participant loans made under an individual account plan with investment experience segregated for each account made in accordance with 29 CFR 2550.408b-1 and which are secured solely by a portion of the participant's vested accrued benefit. When applicable, combine this amount with the current value of any other participant loans. Do not include a participant loan that has been deemed distributed.Line 11. top Check "Yes," if this plan is a defined benefit plan subject to the minimum funding standard requirements of section 412.
Line 11a. top Enter the unpaid minimum required contribution for all years from line 40 of Schedule SB (Form 5500).
If the plan is a defined benefit plan, the enrolled actuary must complete and sign the 2015 Schedule SB (Form 5500) and forward it no later than the filing due date to the person responsible for filing Form 5500-EZ. The completed Schedule SB is subject to the records retention provisions of the Code. See the 2015 Instructions for Form 5500 for more information about Schedule SB.Line 12a. top If a waiver of the minimum funding standard for a prior year is being amortized in the current plan year, enter the month, day, and year (MM/DD/YYYY) the letter ruling was granted.
If a money purchase defined contribution plan (including a target benefit plan) has received a waiver of the minimum funding standard, and the waiver is currently being amortized, complete lines 3, 9, and 10 of Schedule MB (Form 5500). See the Instructions for Schedule MB in the Instructions for Form 5500. Do not attach Schedule MB to the Form 5500-EZ. Instead keep the completed Schedule MB in accordance with the applicable records retention requirements.| Recordkeeping |
19
hr., 07
min. |
| Learning about the
law or the
form |
3
hr., 01min. |
| Preparing the form. |
5
hr., 19 min. |
| Copying,
assembling, and sending
the form |
32
min. |
| LIST OF PLAN CHARACTERISTICS CODES top | |||
|---|---|---|---|
| CODE | Defined Benefit Pension Features | 2E | Profit-sharing. |
| 1A | Benefits are primarily pay related. | 2J | Section 401(k) feature – A cash or deferred arrangement described in section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash. |
| 1B | Benefits are primarily flat dollar (includes dollars per year of service). | 2K | Section 401(m) arrangement – Employee contributions are allocated to separate accounts under the plan or employer contributions are based, in whole or in part, on employee deferrals or contributions to the plan. Not applicable if plan is 401(k) with only QNECs and/or QMACs. Also not applicable if section 403(b)(1), 403(b)(7), or 408 arrangement/accounts annuities. |
| 1C | Cash balance or similar plan – Plan has a “cash balance” formula. For this purpose, a “cash balance” formula is a benefit formula in a defined benefit plan by whatever name (for example, personal account plan, pension equity plan, life cycle plan, cash account plan, etc.) that rather than, or in addition to, expressing the accrued benefit as a life annuity commencing at normal retirement age, defines benefits for each employee in terms more common to a defined contribution plan such as a single sum distribution amount (for example, 10 percent of final average pay times years of service, or the amount of the employee's hypothetical account balance). | 2R | Participant-directed brokerage accounts provided as an investment option under the plan. |
| 1D | Floor-offset
plan – Plan benefits are subject to offset for retirement benefits
provided by an employer-sponsored defined contribution plan. |
2S | Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll. |
| 1E | Section 401(h) arrangement – Plan contains separate accounts under section 401(h) to provide employee health benefits. | 2T | Total or partial participant-directed account plan – Plan uses default investment account for participants who fail to direct assets in their account. |
| 1F | Section 414(k) arrangement – Benefits are based partly on the balance of the separate account of the participant (also include appropriate defined contribution pension feature codes). | CODE | Other Pension Benefit Features |
| 1I | Frozen plan – As of the last day of the plan year, the plan provides that no participant will get any new benefit accrual (whether because of service or compensation). | 3A | Non-U.S. plan – Pension plan maintained outside the United States primarily for nonresident aliens. |
| CODE | Defined Contribution Pension Features | 3B | Plan covering self-employed individuals. |
| 2A | Age/Service Weighted or New Comparability or Similar Plan – Age/Service Weighted Plan: Allocations are based on age, service, or age and service. New Comparability or Similar Plan: Allocations are based on participant classifications and a classification(s) consists entirely or predominantly of highly compensated employees; or the plan provides an additional allocation rate on compensation above a specified threshold, and the threshold or additional rate exceeds the maximum threshold or rate allowed under the permitted disparity rules of section 401(l). | 3C | Plan not intended to be qualified – A plan not intended to be qualified under sections 401, 403, or 408. |
| 3D | Pre-approved pension plan – A master, prototype, or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS. | ||
| 3E | A one-participant plan that satisfies minimum coverage requirements of section 410(b) only when combined with another plan of the employer. | ||
| 2B | Target benefit plan. | 3F | Plan sponsor(s) received services of leased employees, as defined in section 414(n), during the plan year. |
| 2C | Money purchase (other than target benefit). | 3H | Plan sponsor(s) is (are) a member(s) of a controlled group (sections 414(b), (c), or (m)). |
| 2D | Offset plan – Plan benefits are subject to offset for retirement benefits provided in another plan or arrangement of the employer. | 3J | U.S.-based
plan that covers residents of Puerto Rico and is qualified under both
section 401 and section 1165 of Puerto Rico Code. |