What are the annual IRS reporting requirements for the 401(k) Plan?

Each year, the 401(k) Plan will be required to file the Form 5500 with the IRS. The purpose of Form 5500 is to provide the IRS with an annual valuation of the 401(k) Plan’s assets. The IRA Financial Group will work with a third-party administrator to help you complete the Form 5500. The Form 5500 must be filed by the last day of the 7th calendar month after the end of the plan year in question (not to exceed 12 months in length).

Note - in the case of a Solo 401(k) Plan, which is a plan adopted by a business with no employees other than the owners or their spouses, IRS Form 5500-EZ must be filed only if the fair market value of the Plan assets does not exceed $250,000 as of 12/31.

Please contact one of our IRA Experts at 800-472-0646 for more information.


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