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The Time is Now to Remedy the Inequity Applied to American Small Businesses Respecting the Late Filing of IRS Form 5500-EZ (PDF)
Brucker Morra
[Opinion] May 15, 2008
9 page letter to the Internal Revenue Service by attorney Alex M. Brucker. Excerpt: The potential $15,000 penalty is more burdensome for small than large employers, especially when more than one plan and more than one plan year are involved.... For a one-participant plan which has been exempt from Form 5500-EZ filings because plan assets are below the $250,000 threshold, it is easy to inadvertently miss a filing when plan assets increase above the $250,000 threshold.... There is no justification for denying the DFVC Program to a plan covering an owner and spouse while allowing the program to be used by a plan covering an owner and a non-spouse employee.
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