pensionreview Posted December 24, 2018 Posted December 24, 2018 Does anyone prepare Form 945s and complete the "paid preparer use only" section of the form? If you do, do you have a PTIN? We let our PTINs lapse because they are not required for Form 5500 preparers. But the Paid Preparer section asks for the PTIN.
austin3515 Posted December 26, 2018 Posted December 26, 2018 If you are a paid preparer I'm sorry but I'm pretty sure that was a mistake to let it lapse. The following link says anyone preparing a form not specifically excluded must obtain a PTIN. See page 8 for the list of forms that do not require a PTIN. You'll note that 5500 and 1099's are on the list, but 940 is not. Logic would suggest that the IRS includes the paid-preparer/PTIN fields on those forms where the PTIN is required. https://www.irs.gov/retirement-plans/preparer-tax-identification-number-information-for-employee-plans-professionals Apparently it only takes 15 minutes to get one though. https://www.irs.gov/tax-professionals/ptin-requirements-for-tax-return-preparers Austin Powers, CPA, QPA, ERPA
Larry Starr Posted December 26, 2018 Posted December 26, 2018 On 12/24/2018 at 11:49 AM, pensionreview said: Does anyone prepare Form 945s and complete the "paid preparer use only" section of the form? If you do, do you have a PTIN? We let our PTINs lapse because they are not required for Form 5500 preparers. But the Paid Preparer section asks for the PTIN. We do; and we have multiple PTIN numbers (I have one as an EA; my VP has one and she runs the withholding operation and prepares and signs the 945s). Larry. Lawrence C. Starr, FLMI, CLU, CEBS, CPC, ChFC, EA, ATA, QPFC President Qualified Plan Consultants, Inc. 46 Daggett Drive West Springfield, MA 01089 413-736-2066 larrystarr@qpc-inc.com
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