Penalty for late filing - Form 8955

[QNPG]

If Form 8955 for 2009 and 2010 is not filed by the deadline of 1-17-2012, it is my opinion that the “per day” penalty runs from the date the annual report (5500) was due, determined without regard to extensions. Thus, if a Form 5558 was filed to extend the return, but the 8955 filing is not completed by the extended deadline, the penalty for BOTH 2009 and 2010 is calculated from the original deadline for the 2010 5500. Is this correct?

Since the IRS "may" waive or reduce the penalty for reasonable cause, how do you apply for such a waiver?

[Mike Preston]

According to the Notice, the due date is 1/17/12. It is not the extended due date, is it?

[QNPG]

According to the Notice, the due date is 1/17/12. It is not the extended due date, is it?

You know I posted not too long ago that "no question was stupid" but I really am eating my words right now. I guess the 01/17/2012 due date is the deadline for 2009 and 2010 without having to complete the 5558. So, the penalty for filing it late would begin after 01/17/2012 (for 2009/2010)

Thanks for your response, Mike!