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previous page Previous Page: Publication 560 - Retirement Plans for Small Business (SEP, SIMPLE and Qualified Plans) - Prohibited Transactions
next page Next Page: Publication 560 - Retirement Plans for Small Business (SEP, SIMPLE and Qualified Plans) - Table and Worksheets for the Self-Employed
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taxmap/pubs/p560-021.htm#en_us_publink10009051

Reporting Requirements(p21)


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You may have to file an annual return/report form by the last day of the 7th month after the plan year ends. See the following list of forms to choose the right form for your plan.
taxmap/pubs/p560-021.htm#en_us_publink10009052

Form 5500-EZ.(p21)


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You can use Form 5500-EZ if the plan meets all the following conditions.
taxmap/pubs/p560-021.htm#en_us_publink10009053

One-participant plan.(p21)
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Your plan is a one-participant plan if either of the following is true.
taxmap/pubs/p560-021.htm#en_us_publink10009054

Form 5500-EZ not required.(p22)
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If you meet the conditions mentioned above and your one-participant plan (or plans) had total assets of $250,000 or less at the end of the plan year, then you do not have to file Form 5500-EZ (or Form 5500) for that plan year. All plans should file a Form 5500-EZ (or Form 5500) for the final plan year to show that all plan assets have been distributed.
taxmap/pubs/p560-021.htm#en_us_publink10009055

Example.(p22)

You are a sole proprietor and your plan meets all the conditions for filing Form 5500-EZ. The total plan assets are more than $250,000. You should file Form 5500-EZ.
EIC
All one-participant plans should file Form 5500-EZ for their final plan year, even if the total plan assets have always been less than $100,000 for plans beginning on or before December 31, 2006, and $250,000 for plans beginning on or after January 1, 2007. The final plan year is the year in which distribution of all plan assets is completed.
taxmap/pubs/p560-021.htm#en_us_publink10009057

Form 5500.(p22)


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If you do not meet the requirements for filing Form 5500-EZ, you must file Form 5500.
taxmap/pubs/p560-021.htm#en_us_publink10009058

Schedule A (Form 5500), Insurance Information.(p22)
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If any plan benefits are provided by an insurance company, insurance service, or similar organization, complete and attach Schedule A (Form 5500) to Form 5500. Schedule A is not needed for a plan that covers only one of the following.
  1. An individual or an individual and spouse who wholly own the trade or business, whether incorporated or unincorporated.
  2. Partners in a partnership or the partners and their spouses.
Note.For the 2008 plan year, Schedule B (Form 5500), Actuarial Information, is no longer available for filing. Schedule B (Form 5500) has been replaced by two collection vehicles: Schedule MB (Form 5500), Multiemployer Defined Benefit Plan and Certain Money Purchase Plan Actuarial Information, and Schedule SB (Form 5500), Single-Employer Defined Benefit Plan Actuarial Information.
For most defined benefit plans, complete and attach Schedule MB (Form 5500) or Schedule SB (Form 5500) to Form 5500. For more information on these new schedules, see the Instructions for Form 5500.
EIC
Do not file Schedule A (Form 5500), Schedule MB (Form 5500), or Schedule SB (Form 5500) with Form 5500-EZ. However, filers of Form 5500-EZ must collect and retain a completed Schedule MB or a completed and signed Schedule SB, if applicable.
taxmap/pubs/p560-021.htm#en_us_publink10009060

Form 5310.(p22)


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If you terminate your plan and are the plan sponsor or plan administrator, you can file Form 5310, Application for Determination for Terminating Plan. Your application must be accompanied by the appropriate user fee and Form 8717, User Fee for Employee Plan Determination, Opinion, and Advisory Letter Request.
taxmap/pubs/p560-021.htm#en_us_publink10009061

More information.(p22)


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For more information about reporting requirements, see the forms and their instructions.
Note.For small plans with 25 or fewer participants, certain simplified filing choices may be available. See the Instructions for Form 5500.
previous pagePrevious Page: Publication 560 - Retirement Plans for Small Business (SEP, SIMPLE and Qualified Plans) - Prohibited Transactions
next pageNext Page: Publication 560 - Retirement Plans for Small Business (SEP, SIMPLE and Qualified Plans) - Table and Worksheets for the Self-Employed
 Use previous pagenext page to find additional occurrences of topic items.Index for this Publication