Do I have to continue filing 5500-EZ?

[Jakyasar]

Hi

2019 5500-EZ was filed with less than 250k in assets -first year of the plan/filing but stopped filing in subsequent years and assets are still under 250k.

Was there a continuation requirement because initially it was filed?

Thanks

[Lou S.]

Not to my knowledge. I believe in the old days, once you reached the old  $100,000 threshold you were required to continue even if assets dipped below $100,000 in a future year. But I don't think filing a form that was not required locks you into having to file in the future. I believe that was changed when they raised the threshold to $250,000.

The exception being the final year return which is required regardless of assets.

If the client gets a letter from the IRS requesting the form, they should simply respond Form not required assets under $250,000.

[Bruce1]

Do you even have to file the first year?

[Jakyasar]

No you do not but it was done by mistake by someone.

[Bruce1]

I thought so...