Get the free Form 5330

This form is used to report excise taxes related to nondeductible contributions, excess contributions, prohibited transactions, and other specific tax obligations under the Internal Revenue Code sections

How to fill out form 5330

How to fill out Form 5330

1. Obtain Form 5330 from the IRS website or through a tax professional.
2. Fill out your personal information, including name, address, and Employer Identification Number (EIN).
3. Indicate the type of plan you are reporting for, such as a pension plan or profit-sharing plan.
4. Report any excise taxes that are owed by entering the amounts on the appropriate lines.
5. Complete the relevant sections based on the specific compliance failure you are reporting.
6. Review the instructions for any additional required information or schedules.
7. Sign and date the form to certify that the information provided is accurate.
8. Submit the completed Form 5330 to the IRS by the deadline, which is generally the 15th day of the 5th month after the end of the plan year.

Who needs Form 5330?

1. Employers who maintain qualified retirement plans and fail to meet certain IRS requirements.
2. Plan administrators responsible for reporting excise taxes associated with plan failures.
3. Any entity reporting a tax penalty related to non-compliance with pension funding requirements.

People Also Ask about

Who is the form 5330 check payable to?

Make your check or money order payable to the "United States Treasury" for the full amount due. Attach the payment to your return. Write your name, identifying number, and "Form 5330, Section _" on your payment.

Is form 5330 required to be filed electronically?

Under Regulations section 54.6011-3, any employer or individual required to file an excise tax return on Form 5330 must file the excise tax return electronically for tax years ending on or after December 31, 2023, if the filer is required to file at least 10 returns of any type during the calendar year that the Form

What is form 5330 used for?

More In Forms and Instructions This form is used to report and pay the excise tax related to employee benefit plans.

What is the penalty for filing form 5330?

If you file late, you may attach a statement to Form 5330 explaining the reasonable cause. Penalty for late payment of tax. If you do not pay the tax when due, you may have to pay a penalty of ½ of 1% of the unpaid tax for each month or part of a month the tax is not paid, up to a maximum of 25% of the unpaid tax.

Who do I make my IRS check payable to?

Make the check or money order payable to the United States Treasury and provide the following information on the front of your payment: name. address. daytime phone number. taxpayer identification number. tax year, and. form or notice number (for example, 2024 Form 1040)

What is IRS form 5330 used for?

More In Forms and Instructions This form is used to report and pay the excise tax related to employee benefit plans.

Who is required to file 5330?

Any employer or individual required to file an excise tax return on Form 5330, Return of Excise Taxes Related to Employee Benefit Plans, must file the excise tax return electronically for taxable years ending on or after December 31, 2023, if the filer is required to file at least 10 returns of any type during the

Who do I make check payable to for form 941?

Make your check, money order or cashier's check payable to U.S. Treasury.

For pdfFiller’s FAQs

What is Form 5330?

Form 5330 is a tax form used to report certain information regarding an employee benefit plan that has incurred an excise tax for failures related to the Management of the plan.

Who is required to file Form 5330?

Employers, plan administrators, or sponsors of employee benefit plans that are subject to excise taxes due to violations such as failure to meet minimum funding requirements, excess contributions, or other plan-related issues.

How to fill out Form 5330?

To fill out Form 5330, download the form from the IRS website, complete all required sections including taxpayer information, details of the plan, and calculations for the excise tax due, then submit it to the IRS by the required deadline.

What is the purpose of Form 5330?

The purpose of Form 5330 is to allow plan sponsors to report specific excise taxes that are assessed under the Internal Revenue Code related to employee benefit plans.

What information must be reported on Form 5330?

Form 5330 requires reporting of the plan information, details of the excise tax calculation, and any applicable penalties related to violations or failures affecting the employee benefit plan.