Do IRAs require a 5500 filing

[Guest nlipton]

I cannot find anything that requires the filing by an individual of a 5500 or any other form for their IRAs. This is counterintuitive. Has anyone got the citations of the Code or ERISA for this question?

[jpod]

I'm sure the 5500 instructions state that there is no filing for an IRA that is not part of an employer plan.

Yes, it's in the DOL regs somewhere, but you can find it yourself through this website.

Why do you think it's counterintuitive?

[david rigby]

The 5500 instructions include the following (page 3):

"The following are among the pension benefit plans for which a return/report must be filed:

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4. Individual retirement accounts (IRAs) established by an employer under Code section 408©.

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Do Not File A Form 5500 For A Pension Benefit Plan That Is Any Of The Following:

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3. A Savings Incentive Match Plan for Employees of Small Employers (SIMPLE) that involves SIMPLE IRAs under Code section 408(p).

4. A simplified employee pension (SEP) or a salary reduction SEP described in Code section 408(k) that conforms to the alternative method of compliance in 29 CFR 2520.104-48 or 2520.104-49.

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9. An individual retirement account or annuity not considered a pension plan under 29 CFR 510.3-2(d).

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[Guest nlipton]

It seems counterintuitive because as people can rollover their Keoghs, 401Ks, and other retirement plan benfits, the IRAs can grow to very large sums. All other such retirement plans require filings of form 5500s.

[E as in ERISA]

There are forms where info is reported, just not a Form 5500. The individual reports contributions on their Form 1040 and/or Form 8606 attached to their Form 1040. The vendor reports contributions and valuation information on a Form 5498. I don't know all the rules. So there may be other forms. Check those forms and see if they lead you anywhere.

[papogi]

Katherine is correct that Form 8606 is the one taxpayers sometimes use for IRA's. Normally, most tax filers do not need to concern themselves with 8606. Most filers can add to their IRA's each year and have no tax form to fill out each year. Form 8606 is used only in certain circumstances. See "Who Must File" on page 1:

http://www.irs.gov/pub/irs-pdf/i8606.pdf