2020 Form 5500-SF for owner-only

This is on the IRS website at: https://www.irs.gov/retirement-plans/file-your-one-participant-plans-electronically-using-form-5500-ez

• Effective for plan years beginning after 2019, a one-participant plan can file Form 5500-EZ electronically using the EFAST2 filing system. Form 5500-SF is no longer used by a one-participant plan in place of Form 5500-EZ. Information for a one-participant plan filed electronically with EFAST2 filing system” will not be available to the public on DOL’s website.
• A one-participant plan covers only a business owner and his or her spouse, or cover only one or more partners or partners and their spouses in a business partnership (treating 2% shareholder of an S corporation, as defined in IRC Section 1372(b), as a partner).
•  A one-participant plan can file Form 5500-EZ electronically with the Department of Labor’s EFAST2 filing system, or completing and mailing a paper Form 5500-EZ (PDF) to IRS.
• However, a filer must file the Form 5500-EZ electronically using the EFAST2 filing system if the filer is required to file at least 250 returns of any type with the IRS.

I added emphasis in bold for the 2% S Corp shareholder, which was part of the Pension Protection Act. Does this mean an S Corp with only 4 employees, each owning 25%, can file a Form 5500-EZ? Doesn't ERISA still apply, requiring the normal Form 5500-SF?

16 minutes ago, John Feldt ERPA CPC QPA said:

I added emphasis in bold for the 2% S Corp shareholder, which was part of the Pension Protection Act. Does this mean an S Corp with only 4 employees, each owning 25%, can file a Form 5500-EZ? Doesn't ERISA still apply, requiring the normal Form 5500-SF?

Using the PPA language, it should be an EZ.  Now we finally have some guidance on it.

8 hours ago, John Feldt ERPA CPC QPA said:

Doesn't ERISA still apply,

I think ERISA still applies, but Congress nevertheless wants you to file EZ as one-participant plan.