Form 5500 and Corporate Tax Returns

[Guest Marino13]

Can a company file their corporate tax return without having the completed 5500 for the same year?

Suppose a company has both a fiscal and plan year on a calenar year basis (1/1/2003 - 12/31/2003). Does the company need any information from the 2003 Form 5500 and attachments in order to file the 2003 corporate tax return?

[Mike Preston]

Yes, a company can file their tax return without the 5500 being completed. It may not be the best thing to do if the contribution to the plan hasn't been finalized, but there is no "requirement".

[flosfur]

Mike - don't the contributions have to be made before they can be deducted on the tax retrurn even if the employer's accounting is on accrual basis- unless, they are not going to deduct the contributions to be made after the tax return filing, of course.

[Mike Preston]

I don't equate the 5500 filing with funding. A plan sponsor can make a contribution in January, deduct it on the tax return due 3/15 and then not file a 5500 until 10/15.

To restate, I certainly wasn't saying that the tax return can be filed claiming a deduction for a contribution that hasn't been made at the point in time that the return is filed.

I know some accountants that have had their clients file as long as they know that the contribution will be made by the due date of the tax return. I have never been comfortable with that, but not being an accountant, it is something I just watch from afar.