5330 related for lost earnings on late 401k deferral deposit - is there a minimum?

[Jakyasar]

Hi

I just did the calculations and the participant gets $3.25. They will make the deposit into the account for late deposits.

@15%, the penalty is 49 cents.

Is there any requirement to file 5330?

This seems so ridiculous.

[Bill Presson]

There is no minimum and it's quite ridiculous.

[Jakyasar]

Thank you Bill, hope all is well.

[msmith]

I just prepared Form 5330, where the penalty is less than the cost of the stamp. I agree, it is ridiculous. How must will it cost the IRS employee to process a payment of 19 cents!

[D Lewis]

This is pretty old now, but if the excise tax is de minimis, we still add it to the lost earnings and give it to the effected participants.