Verify Form 5500EZ processing

[glhotdog]

Plan Sponsor wants to verify processing of Form 5500EZ. 

Correct procedure to verify?

[Lou S.]

File Form 5500-SF as 1 participant plan electronically and save the acknowledgement file?

I don't know that the IRS verifies processing of the EZ. Save proof of mailing, either by certified mail or over night delivery receipt.

[RatherBeGolfing]

3 hours ago, Lou S. said:

I don't know that the IRS verifies processing of the EZ.

The will if the taxpayer calls, or if you have POA.  Its a pain to get through on a good day, and as far as I know they are not processing paper filings at all right now, so if you want to verify a 2019 PY filing you will need to file an SF one participant plan like you suggested. 

[BG5150]

We have adopted a policy of filing SFs for "one-participant plans".

I tell the sponsors that is an 'upgrade' to the SF with the benefits of immediate, electronic confirmation and the fact that its not available to be seen online.  Plus they save the registered mail fees.

We usually file for them and don't charge for the filing (we do charge for the preparation).

I'd say we have a 90% adoption rate of that policy.  There will always be a few sticks in the mud who can't or won't do stuff electronically.  I leave that up to the bosses to determine if we charge more or not.

[RatherBeGolfing]

4 minutes ago, BG5150 said:

We have adopted a policy of filing SFs for "one-participant plans".

I tell the sponsors that is an 'upgrade' to the SF with the benefits of immediate, electronic confirmation and the fact that its not available to be seen online.  Plus they save the registered mail fees.

We usually file for them and don't charge for the filing (we do charge for the preparation).

I'd say we have a 90% adoption rate of that policy.  There will always be a few sticks in the mud who can't or won't do stuff electronically.  I leave that up to the bosses to determine if we charge more or not.

The EZ is supposed to be electronic starting with the 2020 PY filing so lets hope the coders are staying busy...