A new address shown on Form 5558 will not update your records. You can get Form 8822B at www.irs.gov/Form8822B. Only the plan listed on Form 5558 will be processed. Lists attached to the Form 5558 will not be processed. When to file. Purpose of Form Use Form 5558 to apply for a one-time To avoid processing delays the most recent version of this Form 5558 should always be used. For CAUTION example this Form 5558 Rev. September 2018 should be used instead of the August 2012 version or any other...prior version. To determine the most recent version of this form go to www.irs.gov/Retirement. Future Developments For the latest information about developments related to Form 5558 and its instructions such as legislation enacted after they were published go to www.irs.gov/Form5558. How to file. A separate Form 5558 must be used for each plan for which an extension is requested. For example if an employer maintains a defined benefit plan and a profitsharing plan a separate Form 5558 must be...filed for each plan. A single Form 5558 may however be used to extend the time to file a plan s Form 5500 series return/report and its Lists of other plans should not be attached to a Form 5558. Page 3 Note If the filing date falls on a Saturday Sunday or a legal holiday the return may be filed on the next day that is not a Saturday Approved copies of Form 5558 requesting IRS. Line 1. Form 5330 File one Form 5558 to request an extension of time to file Form 5330 for excise taxes with the same...filing due date. Where To File File Form 5558 with the Department of Treasury Internal Revenue Service Center Ogden UT 84201-0045. Print Form Form Application for Extension of Time To File Certain Employee Plan Returns Rev* September 2018 Department of the Treasury Internal Revenue Service Part I A OMB No* 1545-0212 For Privacy Act and Paperwork Reduction Act Notice see instructions. Go to www*irs*gov/Form5558 for the latest information* File With IRS Only Identification B Name of filer plan...administrator or plan sponsor see instructions Filer s identifying number see instructions Employer identification number EIN 9 digits XX-XXXXXXX Number street and room or suite no. If a P. O. box see instructions Social security number SSN 9 digits XXX-XX-XXXX City or town state and ZIP code C Plan number Plan name MM Plan year ending DD YYYY Extension of Time To File Form 5500 Series and/or Form 8955-SSA Check this box if you are requesting an extension of time on line 2 to file the first Form...5500 series return/report for the plan listed in Part I C above. I request an extension of time until / to file Form 5500 series. See instructions. Note A signature IS NOT required if you are requesting an extension to file Form 5500 series. to file Form 5330. You may be approved for up to a 6-month extension to file Form 5330 after the normal due date of Form 5330. a Enter the Code section s imposing the tax b Enter the payment amount attached. c For excise taxes under section 4980 or 4980F of...the Code enter the reversion/amendment date.
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How to fill out IRS 5558
Instructions and Help about IRS 5558
How to edit IRS 5558
To edit IRS 5558, access the form through pdfFiller, which allows you to make necessary changes quickly and efficiently. Once opened, you can click on the sections you need to modify. Ensure you save your changes before closing the document.
How to fill out IRS 5558
Filling out IRS 5558 requires accurate information that pertains to the organization’s employee benefit plan. Start by providing the name of the plan and the sponsor along with their employer identification number (EIN). Continue by indicating the appropriate boxes that relate to your tax situation. Following the instructions carefully is crucial to ensure a complete and correct filing.
About IRS 5 previous version
What is IRS 5558?
IRS 5558 is the application form used by organizations to request an extension of time to file certain employee benefit plan reports. This form is especially relevant for plans that are required to file a Form 5500 series return. The extension allows an additional two-and-a-half months to submit the necessary documentation.
Who needs the form?
Organizations that need to file Form 5500 for their employee benefit plans must use IRS 5558 if they require additional time. This includes pension plans, welfare plans, and any other employee benefit plans under the Employee Retirement Income Security Act (ERISA). If you are responsible for filing these forms, familiarity with IRS 5558 is critical.
Components of the form
The IRS 5558 consists of several key components that must be completed accurately. This includes information such as the plan name, EIN, and the specific type of extension being requested. Each section must be filled out as per the instructions provided to avoid delay or rejection of your extension request.
What are the penalties for not issuing the form?
If you fail to file IRS 5558 when required, your organization may incur substantial penalties from the IRS. These can include fines that accumulate daily until the form is submitted. It is essential to be proactive in filing IRS 5558 to avoid these financial repercussions.
Is the form accompanied by other forms?
IRS 5558 is typically submitted alone; however, it is essential to attach it to the Form 5500 if you are using it to request an extension. This combination clarifies the connection between the forms and can streamline the processing by the IRS.
What is the purpose of this form?
The primary purpose of IRS 5558 is to provide organizations with a formal avenue to request an extension for filing Form 5500. This extension can help avoid penalties for late submissions while ensuring that the organization meets compliance requirements. Understanding this form is essential for maintaining the health of an employee benefit plan.
When am I exempt from filling out this form?
You may be exempt from filing IRS 5558 if your employee benefit plan is not required to submit Form 5500. This situation generally applies to plans covering fewer than 100 participants or plans considered to be unfunded. Leveraging exemptions can save organizations time and avoid unnecessary filings.
Due date
The due date for submitting IRS 5558 coincides with the deadline for the related form, usually reflecting the 15th day of the seventh month after the plan year ends. If more time is needed, complete and file IRS 5558 by the due date of Form 5500 to secure your extension. Missing this deadline may lead to penalties.
What information do you need when you file the form?
When filing IRS 5558, you must have specific information readily available. This includes your plan’s name, the employer identification number (EIN), and details regarding the extension request. Ensuring all necessary information is correct will prevent delays in processing your form.
Where do I send the form?
IRS 5558 must be sent to the appropriate address as listed in the form instructions. Generally, the address will depend on whether you are filing it electronically or via mail. Ensure you check the latest guidance from the IRS for any updates on mailing addresses.
FAQ about IRS 5558
What should I do if I need to correct a mistake on my submitted Form 5558?
If you need to correct mistakes on your submitted Form 5558, you can file an amended version of the form. It's crucial to clearly mark the newly submitted form as 'Amended' to ensure it is processed correctly. Be sure to maintain a record of the original submission and the amended version for your records.
How can I check the status of my Form 5558 submission?
To verify the status of your Form 5558 submission, you can contact the IRS directly or utilize their online tracking tools if available. Tracking can help confirm receipt and processing, and understanding common rejection codes can aid in troubleshooting any issues encountered during e-filing.
What are common errors to avoid when submitting Form 5558?
Common errors when submitting Form 5558 include incorrect taxpayer identification numbers, missing signatures, and discrepancies in reported information. To minimize these mistakes, double-check all entries for accuracy and ensure that all required fields are filled out before submission.
Are e-signatures acceptable on Form 5558?
Yes, e-signatures are generally acceptable for Form 5558, provided they are compliant with IRS guidelines. Ensure that the electronic signature meets any specified security and verification standards to uphold the integrity of your submission.
What steps should I take if I receive a notice regarding my Form 5558 submission?
If you receive a notice about your Form 5558, carefully review the content to understand the IRS's concerns or requests. Prepare any required documentation and respond promptly to the notice, ensuring that your reply addresses the issues raised clearly and thoroughly.
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