Get the free Form 5558

This document provides an updated version of Form 5558, which is used to request an extension of time for filing certain employee plan returns, including Form 5500 Series and Form 5330.

How to fill out form 5558

How to fill out Form 5558

1. Obtain Form 5558 from the IRS website or a tax professional.
2. Fill in your name, address, and employer identification number (EIN) in the appropriate sections.
3. Indicate the plan name and number.
4. Select the reason for filing the form, such as requesting an extension for a retirement plan.
5. Complete the applicable sections if your plan is a 401(k), profit-sharing plan, or other types.
6. Ensure all necessary signatures and dates are included on the form.
7. Submit the completed form to the IRS by the due date to request your extension.

Who needs Form 5558?

1. Employers who sponsor employee benefit plans that require extension of time to file Form 5500.
2. Plan administrators or other fiduciaries who are responsible for reporting on the employee benefit plan.

People Also Ask about

Does form 5558 need to be filed electronically?

The IRS has released the 2025 Form 5558 to be used to request an extension in filing the Form 5500 that will report about the 2024 plan year. And now it can be filed electronically, as well as on paper.

What is the IRS Form 5500 used for?

The employer maintaining the plan or the plan administrator of a Pension or Welfare benefit plan covered by ERISA. File Form 5500 to report information on the qualification of the plan, its financial condition, investments and the operations of the plan.

What is the IRS form 5558 used for?

Use Form 5558 to apply for a one-time extension of time to file the Form 5500 series, and Form 8955-SSA. To avoid processing delays, the most recent version of this Form 5558 must be used. For example, this Form 5558 (Rev. January 2025) must be used instead of the January 2024 version or any other prior version.

Who counts as a participant for 5500?

Active participants (i.e., any individuals who are currently in employment covered by the plan and who are earning or retaining credited service under the plan). This includes any individuals who are eligible to elect to have the employer make payments under a Code section 401(k) qualified cash or deferred arrangement.

What type of return is a 5500?

Page 1 of 1 The 5500 series of tax forms are prepared by retirement plans. They report the business activity, investments, expenditures and earnings of the plan for the year.

What is a 5500 used for?

Form 5500 is filed with the DOL and contains information about a 401(k) plan's financial condition, plan qualifications, and operation. The form aims to provide the IRS and DOL with information about the plan's operation and compliance with government regulations.

What happens if you don't file form 5500?

It's normally a year after it was due and includes a substantial penalty. Late filed returns are subject to penalties from both IRS and DOL, so it's very important to identify this mistake before we do. The IRS penalty for late filing of a 5500-series return is $25 per day, up to a maximum of $15,000.

Does form 5558 have to be signed?

If you are filing Form 5558 for an extension to file Form 5500 series return/report or Form 8955-SSA, a signature is not required.

For pdfFiller’s FAQs

What is Form 5558?

Form 5558 is a form used by plan sponsors to request an extension of time to file annual reports required under the Employee Retirement Income Security Act (ERISA) for certain employee benefit plans.

Who is required to file Form 5558?

Employers who maintain certain types of employee benefit plans, including pension and welfare plans, and need additional time to file their annual reports with the Department of Labor (DOL) are required to file Form 5558.

How to fill out Form 5558?

To fill out Form 5558, you must provide the name of the plan, the plan number, the type of plan, the reason for the extension, and the signature of the plan administrator or authorized representative, along with the appropriate filing deadlines.

What is the purpose of Form 5558?

The purpose of Form 5558 is to obtain an automatic 2.5-month extension to file Form 5500 or Form 5500-SF, which are annual reports required for certain employee benefit plans.

What information must be reported on Form 5558?

Form 5558 requires reporting of the plan's name, plan number, the tax year for which the extension is requested, and the reason for the request, along with the signature and details of the plan administrator.