Final 5500EZ

[Karen McIver]

It's July and I would like to file a final 5500-EZ for 2019.    Do we still just cross out the 18 on the form and put 2019 or is there a preferred method these days?

[Tom Poje]

well, the preferred method would be to file electronically using e-fast2 as a one person 5500-SF, but unless you know someone to do that for you paper filing is ok.

I don't think it matters if you cross out 2018, the fact it is coded as 'final' should be enough for the folks there, along with the dates you entered.

I see you can fill out the form online on the computer, print and mail in

https://www.irs.gov/pub/irs-pdf/f5500ez.pdf

 

[chc93]

In other discussions on using prior year forms, it was mentioned that if it is anticipated that the current year form will be available by the due date of the filing, you should wait for the new form.  For example, all assets distributed in July 2019, deadline is Feb 2020.  If you expect the 2019 form to be issued by then, you should wait for the current form (2019 in this case) and not file using the prior year form (2018 in this case). <note that I don't like that conclusion>

[Bri]

I'm under the impression that if you get the 5500-EZ out by December 31, 2019, they'll let you use the 2018 form, but if the calendar flips to 2020 then you have to wait for the IRS to release the 2019 form.

[Kristina]

You can file on the 2018 for for a 2019 year if you are filing before the 2019 5500-EZ is available.  There is no need to cross out the form year in the upper right corner.  Just make sure you show the correct plan year beginning and ending dates on the form.

The rule mentioned about January 1, 2020 applies to EFAST2 filed forms only.  If the 2019 5500-EZ is not available until after 12/31/19, you would still be able to use the 2018 form for a short or final year.