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Financial Advisors: Are Assets in Your Client's One-Participant Plans More Than $250,000?
Internal Revenue Service [IRS] Link to more items from this source
Mar. 24, 2016

"Most of the plan sponsors we contacted failed to file one or more Forms 5500-EZ. Many sponsors said their financial or investment advisor didn't tell them about the filing requirement. These sponsors are correcting using our late filer penalty relief program for Form 5500-EZ filers.... [Financial advisors:] It's very important that you alert your clients to review their end-of-year plan assets for all of their one-participant plans so they are current on their Form 5500-EZ filings. If you prepare or file the Forms 5500-EZ for your clients, ensure you have administrative procedures in place to remind you of the filing requirement when combined plan assets exceed $250,000."

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