I received IRS Letter Form 5500-EZ Filing Requirements Reminder

QUESTION: I received IRS Form 5500-EZ Filing requirements Reminder, but my solo 401k provider already filed my solo 401k plan’s Form 5500-EZ. What do I do, or what happens now?

ANSWER: After reviewing the IRS Form 5500-EZ notice letter, we understand it to mainly serve to confirm the following:

  1. That the IRS has your plan in their records as having filed a Form 500-EZ.
  2. Reminder that you may need to continue filing a form 500-EZ.

In sum, this letter serves to confirm a bigger picture: 1) that it is important to file an annual Form 5500-EZ once the plan exceeds $250,000 in total assets, 2) that all one-participant plans (solo 401k plans) must be aggregated to determine that $250,000 threshold filing requirement, and 3) regardless of asset value, a final Form 5500-EZ must be filed in the final plan year to formally close the solo 401k with the IRS.


Frank in Texas

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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