Why do I need to fill out form 5500ez this year for my Scorp pension contributions? I did not have to file last year.

Forum|Forum|1 year ago
February 20, 2025
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Best answer by dmertz

Nothing has changed about the requirements to to file Form 5500-EZ. See the instructions for this form: https://www.irs.gov/pub/irs-pdf/i5500ez.pdf

If the assets in the plan at the end of the plan year were under $250,000 and the plan has not been terminated, filing Form 5500-EZ is not required.

DaveF1006

According to the IRS, one must file Form 5500-EZ for a retirement plan if the plan is a one-participant plan or a foreign plan that is required to file an annual return under section 6058(a). For example, if your plan now has more than one participant, or if it's a new plan, you may be required to file.

Please read the Instructions for Form 5500-EZ for more information about filing this. Also, here is an additional information source that may be of interest to you.

If you didn't need to file in the past, there may have been a change in the plan that necessitated the need to file this year.

About Form 5500-EZ, Annual Return of A One-Participant (Owners/Partners and Their Spouses) Retirement Plan or A Foreign Plan

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dmertzAnswer

Employee

Nothing has changed about the requirements to to file Form 5500-EZ. See the instructions for this form: https://www.irs.gov/pub/irs-pdf/i5500ez.pdf

If the assets in the plan at the end of the plan year were under $250,000 and the plan has not been terminated, filing Form 5500-EZ is not required.