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Filed 5500EZ by mistake last year


nsfpsp

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C corp has a Profit Sharing Plan.  The owner is (and has been) the only participant.  I've previously filed 5500SF, but I mistakenly filed Form 5500EZ last year, and didn't realize it until filing 5500SF this year.  Should I file an amended 5500SF for the year I filed the 5500EZ?  

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7 hours ago, nsfpsp said:

C corp has a Profit Sharing Plan.  The owner is (and has been) the only participant.  I've previously filed 5500SF, but I mistakenly filed Form 5500EZ last year, and didn't realize it until filing 5500SF this year.  Should I file an amended 5500SF for the year I filed the 5500EZ?  

If this is an owner only plan, then aren't you correct in filing the EZ?

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The Plan was not set up as an owner only plan.  It's owner only in that the owner of the C corp. is the only employee.  If at some point there are employees, they could be eligible.  I've been following the guidelines of the third party administrator that previously handled the plan.  The company had a pretty dramatic setback during the pandemic, and I've been handling all administrative tasks as a volunteer.  All previous filings were 5500SF so I was concerned that I filed the wrong form last year when I filed the 5500EZ.  However, it seems to not really matter, if I'm understanding Ed's earlier response correctly.  Thanks for responding!

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