Form 5330 - paper filings allowed for 2023

[justanotheradmin]

This may have already been shared - but I didn't see if offhand, so thought I would pass it along. 

Exclusion from electronic filing requirement for Form 5330 is available now | Internal Revenue Service (irs.gov)

The IRS has decided paper filing is okay, just document that the reason for the paper filing is lack of authorized vendors. 

"

Treas. Reg. 54.6011-3(a) requires a taxpayer to file Form 5330, Return of Excise Taxes Related to Employee Benefit Plans, electronically for taxable years ending on or after December 31, 2023, if the filer is required to file at least 10 returns of any type during the calendar year that the Form 5330 is due. Treas. Reg. 54.6011-3 (b) and Instructions for Form 5330 also provide, on an annual basis, exclusions from electronic filing requirements in cases of undue hardship.

Form 5330 can be filed electronically using the IRS Modernized e-File (MeF) System through an IRS authorized Form 5330 e-file provider. Currently, IRS has only one authorized e-filing provider for the Form 5330. As a result of the lack of authorized e-file providers for the Form 5330, the IRS has determined that a filer is permitted to file a paper Form 5330 for the 2024 taxable year. The filer should document that the reason for not filing electronically and filing a paper Form 5330 is the lack of authorized vendors."

[casey72]

It's odd, it actually says they can file by paper for the 2024 taxable year. It doesn't say that filers can do so for the 2023 taxable year!