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How to fill out 2018 form irs 5500-ez

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How to fill out 2018 form irs 5500-ez

01
To fill out the 2018 Form IRS 5500-EZ, follow these steps:
02
Download the Form IRS 5500-EZ from the IRS website or obtain a physical copy from the IRS office.
03
Fill out the identifying information at the top of the form, including the name and address of the plan administrator.
04
Provide the plan number and type of plan on line 1a and 1b respectively.
05
Enter the plan year beginning and ending dates on line 1c and 1d.
06
Provide the contact information for the person responsible for keeping plan records on line 2.
07
Enter the plan sponsor's employer identification number (EIN) on line 3.
08
Indicate the plan sponsor's name, address, and type of plan sponsor on lines 4a, 4b, and 4c respectively.
09
Fill out the information regarding the enrolled actuary on line 5.
10
Enter the total number of participants at the beginning and end of the plan year on lines 6a and 6b.
11
Provide the funding and benefit information on lines 7a through 7d.
12
Indicate any contributions, rollovers, and distributions on lines 8a through 8d.
13
Fill out the information regarding the plan's trust and trust agreement on lines 9a and 9b.
14
Sign and date the form at the bottom, certifying that the information provided is true and accurate.
15
Send the completed form to the appropriate IRS address as instructed in the form's instructions.

Who needs 2018 form irs 5500-ez?

01
The 2018 Form IRS 5500-EZ is needed by small one-participant plans that meet certain conditions.
02
Typically, it is required for self-employed individuals or small business owners who can be the only participant in the plan.
03
These plans must have no employees other than the owner(s) and their spouse(s) and should meet the eligibility requirements defined by the IRS.
04
It is recommended to consult the IRS instructions or a tax professional to determine if you need to file the Form IRS 5500-EZ for your specific situation.
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Form IRS 5500-EZ is used by one-participant retirement plans that are not subject to the Employee Retirement Income Security Act (ERISA) to report information on the plan.
One-participant retirement plans that are not subject to ERISA regulations are required to file form IRS 5500-EZ.
Form IRS 5500-EZ can be filled out online or through a paper form provided by the IRS. It requires information about the plan sponsor, plan administrator, contributions, distributions, and more.
The purpose of form IRS 5500-EZ is to report information about one-participant retirement plans that are not subject to ERISA regulations.
Information such as plan sponsor details, plan administrator details, contributions, distributions, and other financial information related to the retirement plan must be reported on form IRS 5500-EZ.
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