Colorado man gets $100,800 bill from IRS for not filing Form 5500-EZ

A recent Colorado news video/article drives home the importance of using the services of a solo 401k provider that includes form 5500-EZ preparation and filing as part of their annual fee. That’s why includes form 5500-EZ preparation in their $125.00 annual fee, a service that most solo 401k providers either do not provide or charge from $200 to $300 extra to prepare a form 5500-EZ.

To see the recent video/article click on: Colorado man gets $100,800 bill from IRS

To learn more about the annual form 55-EZ requirements click on: Solo 401k Form 5500-EZ.

Solo 401k Form 5500-EZ Facts

Form 5500-EZ is an annual return of One-Participant (owners and their spouses) retirement plan such as a solo 401k plan.

Due date: the last day of the seventh month after the plan year ends (July 31 for a calendar-year plan).

Must be filed if the total of the plan’s assets and the assets of all other one-participant plans maintained by the employer at the end of the plan year (generally December 31) exceeded $250,000.

Where to file: File the Form 5500-EZ at the following address:

Department of the Treasury

Internal Revenue Service

Ogden, UT 84201-10020

About Mark Nolan

Each day I speak with energetic entrepreneurs looking to take the plunge into a new venture and small business owners eager to take control of their retirement savings. I am passionate about helping others find their financial independence. Having worked for over 20 years with some of the top retirement account custodian and insurance companies I have a deep and extensive knowledge of the complexities of self-directed 401ks and IRAs as well as retirement plan regulations. Learn more about Mark Nolan and My Solo 401k Financial >>


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