Who Does Not Have To File Form 5500-EZ Return to top

You do not have to file Form 5500-EZ for the 2014 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 2014 plan year does not exceed $250,000, unless 2014 is the final plan year of the plan. For more information on final plan years, see Final Return later.

How To File Form 5500-EZ Return to top

Paper Forms for Filing. The 2014 Form 5500-EZ may 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.

EFAST2 Filing System Return to top

One-participant 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).

• Part I, lines A, B, and C;
• Part II, lines 1a-5b;
• Part III, lines 7a-c, and lines 8a(1)-8a(3);
• Part IV, line 9a;
• Part V, line 10g; and
• Part VI, lines 11-12e.

Under the computerized ERISA Filing Acceptance System (EFAST2), you must electronically file the 2014 Forms 5500 and 5500-SF using EFAST2's web-based filing system or you may file through an EFAST2-approved vendor. The 2014 Form 5500-EZ will be filed on paper only 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 Form 5500-SF may be filed for one-participant plans and foreign plans instead of 5500-EZ regardless of whether or not the plan covered more than 100 participants at the beginning of the plan year or other conditions listed in the Instructions for Form 5500-SF.

Note(2). Information filed on Form 5500-EZ and Form 5500-SF is required to be made available to the public. However, the information for a one-participant plan electronically filed using a Form 5500-SF with EFAST2 will not be subject to publication on the Internet.

What To File Return to top

Plans required to file an annual return for one-participant (owners and their spouses) retirement 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 2014 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 2014 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:

Because an eligible combined plan includes both a defined benefit plan and a defined contribution plan, the Form 5500-EZ filed for the plan must include all the information that would be required for either a defined benefit plan or a defined contribution plan.

Note. The 2014 Schedule MB (Form 5500) and the 2014 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 2014 Form 5500-EZ filing.

When To File Return to top

File the 2014 return for plan years that started in 2014. 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 2014 (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.

Where To File Return to top

File the Form 5500-EZ at the following address:

Private Delivery Service (PDSs) Return to top

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:

• Federal Express (FedEx): FedEx Priority Overnight, FedEx Standard Overnight, FedEx 2Day, FedEx International Priority, and FedEx International First.
• United Parcel Service (UPS): UPS Next Day Air, UPS Next Day Air Saver, UPS 2nd Day Air, UPS 2nd Day Air A.M., UPS Worldwide Express Plus, and UPS Worldwide Express.

Who Must Sign Return to top

The plan administrator or employer (owner) must sign and date paper Form 5500-EZ for the 2014 filing.

Preparer Information (Optional) Return to top

Note. Although the preparer's name, address, and phone number are optional, the IRS encourages filers to provide preparer information on these lines. Treasury regulations require all paid tax return preparers to obtain the Paid Preparer Tax Identification Numbers (PTINs) and put the PTIN on all tax forms. However, the Form 5500 series, at this time, is not subject to the PTIN requirements of Regulations section 1.6109-2.

Penalties Return to top

The Internal Revenue Code imposes a penalty of $25 a day (up to $15,000) for not filing returns in connection with pension, profit-sharing, etc., plans by the required due date.

Specific Instructions Return to top

Part I - Annual Return Identification Information Return to top

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 "01/01/2014").

First Return. top

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).

Amended Return. top

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 2014 plan year. The amended Form 5500-EZ must conform to the requirements under the How To File section earlier.

Short Plan Year. top

Final Return. top

All one-participant plans should file a return for their final plan year indicating that all assets have been distributed.

Extension of Time To File. top

Check box B if either of the following applies:

1. You are filing a Form 5558, Application for Extension of Time to File Certain Employee Plan Returns. (Do not attach Form 5558 to your Form 5500-EZ. See below for more information.)
2. You are using an extension based on the extended due date of your federal income tax return. (See the Note below.)

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 the following conditions are met: (1) the plan year and the employer's tax year are the same, (2) 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 (3) a copy of the application for extension of time to file the federal income tax return is retained with the plan's records.

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.

Foreign Plan. top

Check box C if the return is filed by a foreign plan. See Who Must File Form 5500-EZ earlier.

Part II - Basic Plan Information Return to top

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.

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:

1. Enter in the first row the name of the employer.
2. Enter in the second row the trade name if different from the name entered in the first row.
3. Enter in the third row the in care of ("C/O") name.
4. Enter in the fourth row the street address. A post office box number may be entered if the Post Office does not deliver mail to the employer's street address.
5. Enter in the fifth row the name of the city, the two character abbreviation of the U.S. state or possession and ZIP code.

Note. You can use Form 8822-B, Change of Address - Business, to notify the IRS if you changed your business mailing address, your business location, or the identity of your responsible party.

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).

• Mail or fax Form SS-4, Application for Employer Identification Number, obtained by calling 1-800-TAX-FORM (1-800-829-3676) or at the IRS website at IRS.gov.
• Select the Online EIN Application link at IRS.gov. The EIN is issued immediately once the application information is validated. 

Note. Although EINs for a plan's trust or custodial account are generally not required to be furnished on the Form 5500 and its schedules or Form 5500-EZ, the IRS will issue EINs for other reporting purposes. EINs for trusts or custodial accounts associated with plans may be obtained as explained above.

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:

1. Enter in the first row the name of the plan administrator unless the administrator is the employer identified in line 2a. If this is the case, enter the word "same" on line 3a and leave the remainder of line 3a and all of lines 3b and 3c blank.
2. Enter in the second row any in care of ("C/O") name.
3. Enter in the third row the street address. A post office box number may be entered if the Post Office does not deliver mail to the administrator's street address.
4. Enter in the fourth row the name of the city, the two character abbreviation of the U.S. state or possession and ZIP code.

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.

ine 4a. (Optional) top You may use this line to enter the "Name of trust." If a plan uses more than one trust or custodial account for its fund, you should enter the primary trust or custodial account in which the greatest dollar amount or largest percentage of the plan assets as of the end of the plan year is held on this line. For example, if a plan uses three different trusts, X, Y, and Z, with the percentages of plan assets, 35%, 45%, and 20%, respectively, trust Y that held the 45% of plan assets would be entered on line 6a.

Line 4b. (Optional) top You may use this line to enter the "Trust's Employer Identification Number (EIN)" assigned to the employee benefit trust or custodial account, if one has been issued to you. The trust EIN should be used for transactions conducted for the trust. If you do not have a trust EIN, enter the EIN you would use on Form 1099-R, Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc., to report distributions from employee benefit plans and on Form 945, Annual Return of Withheld Federal Income Tax, to report withheld amounts of income tax from those payments.

Note. Although lines 4a and 4b are optional, the IRS encourages filers to provide trust information on these lines.

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.

Part III - Financial Information Return to top

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 (participants and non-participant loans), and tangible personal property).

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 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.

Part IV - Plan Characteristics Return to top

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 line 9 must include any codes applicable for either the defined benefit pension features or the defined contribution pension features of the plan.

Part V - Compliance and Funding Questions Return to top

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.

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 the current year from line 39 of Schedule SB (Form 5500).

Line 12a. top If a waiver of the minimum funding standard for prior year is being amortized in the current plan year, enter the month, day, and year (MM/DD/YYYY) the letter ruling was granted.

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 employee 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.