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Posted

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.

Posted

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

Posted
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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