2015 5500-EZ

[goldtpa]

In the draft version of the 2015 Form 5500, question 13 has been added to find out if the plan has been timely amended for all required tax law changes. Then the questions b, c, and d are asking for the date of the amendments and the serial numbers of the prototypes or vol submitters. Does anyone know if the 2015 SF will be asking for same?

[Lou S.]

I'm pretty sure that question and more is on the new 5500-SUP

[Tom Poje]

I assume yes, as Lou noted there will probably be even more questions on the SF than on the EZ, at least if the sample 5500-SUP is any guideline. it makes little sense an EZ would require more info that the EZ! [i realize ASPPA is fighting to have these new items 'optional' for the first year, but I guess my approach is we have been forewarned with plenty of time. as long as you are restating documents take the trouble to start compiling this info somewhere so you won't have to dig back through things to find it. e.g. Trustee info, etc.
the instruction for the EZ note the following:
Trust information on line 4 is no longer optional. You are required to answer these questions relating to the name and EIN of the trust, and the trustee’s name and telephone number.
Preparer information on the Form 5500 is no longer optional. You are required to answer these questions
relating to the preparer’s name, address, and telephone number.
New IRS compliance questions from lines 13 through 16 were added for purposes of satisfying the reporting
requirements of section 6058.
IRS Late Filer Penalty Relief Program. The Department of the Treasury and the IRS established a permanent penalty relief program for late annual reporting for non-Title I retirement plans effective June 3, 2015. This
late filer penalty relief program facilitates voluntary compliance by plan administrators and plan sponsors who
are delinquent in filing their annual return under section 6058 by permitting plan administrators and sponsors to
pay a reduced monetary penalty for voluntarily complying with their IRS annual reporting obligations. If the Form
5500-EZ is being filed under this late filer penalty relief program, the applicant must print in red letters in the top
margin above the form’s title on the first page of the return: “Delinquent Return Submitted under Rev. Proc. 2015-32, Eligible for Penalty Relief.” Each submission must include a completed paper copy of Form 14704, Transmittal Schedule – Form 5500-EZ Delinquent Filer Penalty Relief Program (Revenue Procedure 2015-32). The completed Form 14704 must be attached to the front of the oldest delinquent return in the submission. Form 14704 can be found at www.irs.gov/pub/irs-pdf/f14704.pdf.