- What it means
- The IRS has no Form 5500-series return for your retirement plan for the plan year named.
- Respond within
- 30 days from the date on the notice
- What to send
- The Form 5500, or the response form explaining why none was required.
- Write it
- Reasonable cause statement
- When to get help
- If several years are missing, use the Department of Labor's delinquent filer program before responding; it caps the penalty.
What the letter says
The plan was expected to file and did not. One-participant plans under $250,000 in assets are exempt; others must file annually.
What to do
If the plan was required to file, file now, ideally through the DOL delinquent filer program, then respond to the notice with proof. If it was exempt, say so on the response form with the asset figure.
What to gather
- The notice with the plan name and year
- Plan asset statements
- Prior Forms 5500
Write back
The Reasonable cause statement tool builds the response in the order the IRS reads it. Fill it in, review it, print it, and send it with copies of the documents above and the notice stub on top.
Before you send anything
This is general information, not tax advice. Situations differ. Check with your tax advisor before you send anything. Nothing on this page creates a client relationship.