austin3515 Posted September 18, 2022 Share Posted September 18, 2022 Retirement Plan set up for the first time today effective 2021. Therefore no extension was filed. I have checked the box indicating that the plan was adopted retroactively under SECURE Act. Should I indicate in the "Special Extension" box "SECURE Act Section 201"? Seems like the most practical approach. Perhaps the IRS has even already issued something about this? Austin Powers, CPA, QPA, ERPA Link to comment Share on other sites More sharing options...
austin3515 Posted September 18, 2022 Author Share Posted September 18, 2022 Wow I was not expecting this! No 5500 for 2021. Checking the box is for when I do the 2022 5500! https://www.planadviser.com/form-5500-can-skipped-effective-year-plans-adopted-retroactively/ Austin Powers, CPA, QPA, ERPA Link to comment Share on other sites More sharing options...
Bird Posted September 19, 2022 Share Posted September 19, 2022 Right, we just had a couple of these and my research turned up a BL post from last year saying exactly that. Interesting - I guess the first return has beginning assets. austin3515 1 Ed Snyder Link to comment Share on other sites More sharing options...
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