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taxmap/pubs/p560-020.htm#TXMP6eb2b1da Reporting Requirements(p19)

Requirements, Reporting

You may have to file an annual return/report form by the last day of the 7th month after the plan year ends. See the following list of forms to choose the right form for your plan.

taxmap/pubs/p560-020.htm#TXMP50b610e9 Form 5500-EZ.(p19)

You can use Form 5500-EZ if the plan meets all the following conditions.

• The plan is a one-participant plan, defined below.
• The plan meets the minimum coverage requirements of section 410(b) without being combined with any other plan you may have that covers other employees of your business.
• The plan only provides benefits for you, you and your spouse, or one or more partners and their spouses.
• The plan does not cover a business that is a member of an affiliated service group, a controlled group of corporations, or a group of businesses under common control.
• The plan does not cover a business that leases employees.

taxmap/pubs/p560-020.htm#TXMP1eaf827c One-participant plan.(p19)

Your plan is a one-participant plan if either of the following is true.

• The plan covers only you (or you and your spouse) and you (or you and your spouse) own the entire business (whether incorporated or unincorporated).
• The plan covers only one or more partners (or partner(s) and spouse(s)) in a business partnership.

taxmap/pubs/p560-020.htm#TXMP03a7740c Form 5500-EZ not required.(p19)

You do not have to file Form 5500-EZ (or Form 5500) for a plan year (other than the final plan year) that begins on or after January 1, 2007, if you meet the conditions mentioned above and you have one or more one-participant plans that separately or together had total assets of $250,000 or less at the end of that plan year.

taxmap/pubs/p560-020.htm#TXMP0f2905da
Example.(p19)

You are a sole proprietor and your plan meets all the conditions for filing Form 5500-EZ. The total plan assets are more than $250,000. You should file Form 5500-EZ.

All one-participant plans must file Form 5500-EZ for their final plan year, even if the total plan assets have always been less than $100,000 for plans beginning on or before December 31, 2006, and $250,000 for plans beginning on or after January 1, 2007. The final plan year is the year in which distribution of all plan assets is completed.

taxmap/pubs/p560-020.htm#TXMP5abdeafc Form 5500.(p19)

If you do not meet the requirements for filing Form 5500-EZ, you must file Form 5500.

taxmap/pubs/p560-020.htm#TXMP730018fb Schedule A (Form 5500).(p19)

If any plan benefits are provided by an insurance company, insurance service, or similar organization, complete and attach Schedule A (Form 5500) to Form 5500. Schedule A is not needed for a plan that covers only one of the following.

1. An individual or an individual and spouse who wholly own the trade or business, whether incorporated or unincorporated.
2. Partners in a partnership or the partners and their spouses.

taxmap/pubs/p560-020.htm#TXMP0f613d20 Schedule B (Form 5500).(p19)

For most defined benefit plans, complete and attach Schedule B (Form 5500), Actuarial Information, to Form 5500.

Do not file a Schedule A (Form 5500) or a Schedule B (Form 5500) with a Form 5500-EZ. However, filers of Form 5500-EZ must collect and retain completed and signed Schedule Bs, if applicable.

taxmap/pubs/p560-020.htm#TXMP7e14df11 Form 5310.(p19)

If you terminate your plan and are the plan sponsor or plan administrator, you can file Form 5310, Application for Determination for Terminating Plan. Your application must be accompanied by the appropriate user fee and Form 8717, User Fee for Employee Plan Determination, Opinion, and Advisory Letter Request.

taxmap/pubs/p560-020.htm#TXMP7f990203 More information.(p19)

For more information about reporting requirements, see the forms and their instructions.

taxmap/pubs/p560-020.htm#TXMP7c99d7c4
Note.For small plans with 25 or fewer participants, certain simplified filing choices may be available. See the Instructions for Form 5500.

Previous Page:  Publication 560 - Retirement Plans for Small Business (SEP, SIMPLE and Qualified Plans) - Prohibited Transactions Next Page:  Publication 560 - Retirement Plans for Small Business (SEP, SIMPLE and Qualified Plans) - Qualification Rules Use   to find additional occurrences of topic items.