Form 5330

[commishvp]

When filing a 5330 reporting late deposits is there a minimum amount you would typically file the form? I have a very small plan and the taxable amount ends up being $0, so I was not going to file the 5330. I have read the instrucitons and do not see if there is a minimum amount required to file.

Any thoughts? Do you typically file a 5330 with a $0 tax due?

Thanks,

[PensionPro]

When filing a 5330 reporting late deposits is there a minimum amount you would typically file the form? I have a very small plan and the taxable amount ends up being $0, so I was not going to file the 5330. I have read the instrucitons and do not see if there is a minimum amount required to file.

Any thoughts? Do you typically file a 5330 with a $0 tax due?

Thanks,

Under "Who Must File," the instructions state, "any disqualified person who is liable for the tax under section 4975 for participating in a prohibited transaction ..." It does not appear that a 5330 filing is required when there is no tax liability.

[BG5150]

So on the Schedule H/I would you put -0- on the line where is asks about late deposits? I would think so because it is referencing the filing of a 5330.

[PensionPro]

So on the Schedule H/I would you put -0- on the line where is asks about late deposits? I would think so because it is referencing the filing of a 5330.

On line 4a of Schedule H/I you would "enter the aggregate amount of all late contributions for the year."

It is only referencing Form 5330 in the following context, "If such a nonexempt prohibited transaction occurred with respect to a disqualified person (see Code section 4975(e)(2)), file Form 5330, Return of Excise Taxes Related to Employee Benefit Plans, with the IRS to pay any applicable excise tax on the transaction."

[BG5150]

So on the Schedule H/I would you put -0- on the line where is asks about late deposits? I would think so because it is referencing the filing of a 5330.

On line 4a of Schedule H/I you would "enter the aggregate amount of all late contributions for the year."

It is only referencing Form 5330 in the following context, "If such a nonexempt prohibited transaction occurred with respect to a disqualified person (see Code section 4975(e)(2)), file Form 5330, Return of Excise Taxes Related to Employee Benefit Plans, with the IRS to pay any applicable excise tax on the transaction."

My bad. I don't know where I got the part about the 5330. I think it comes from an old questionnaire one of my former employers used when asking the clients.