Instructions For Form 5330 - Internal Revenue Service (Page 3 of 12) in pdf

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United Parcel Service (UPS): UPS

promptly consider your claim, you must

Item F. Plan year ending. Plan year

Next Day Air, UPS Next Day Air Saver,

explain why you are filing the claim and

means the calendar or fiscal year on

UPS 2nd Day Air, UPS 2nd Day Air

provide the appropriate supporting

which the records of the plan are kept.

A.M., UPS Worldwide Express Plus,

evidence. See Regulations section

Enter four digits in year-month order.

and UPS Worldwide Express.

301.6402-2 for more details.

This number assists the IRS in properly

identifying the plan and time period for

The private delivery service can tell

which the Form 5330 is being filed. For

you how to get written proof of the

Specific Instructions

example, a plan year ended March 31,

mailing date.

2006, should be shown as 0603.

Filer tax year. Enter the tax year of the

Interest and Penalties

Item G. Plan number. Enter the

employer, entity, or individual on whom

three-digit number that the employer or

Interest. Interest is charged on taxes

the tax is imposed.

plan administrator assigned to the plan.

not paid by the due date even if an

Item A. Name and address of filer.

extension of time to file is granted.

Enter the name and address of the

Item H. Amended return. If you are

Interest is also charged on penalties

employer, individual, or other entity who

filing an amended Form 5330, check

imposed for failure to file, negligence,

is liable for the tax.

the box on this line, and see the

fraud, gross valuation overstatements,

instructions for lines 13a through 13c.

Include the suite, room, or other unit

and substantial understatements of tax

Also see Claim for Refund or Credit/

numbers after the street number. If the

from the due date (including

Amended Return.

post office does not deliver mail to the

extensions) to the date of payment. The

street address and you have a P.O.

Filer’s signature. Please sign and

interest charge is figured at a rate

box, show the box number instead of

date the form. Also enter a daytime

determined under section 6621.

the street address.

phone number where you can be

Penalty for late filing of return. If you

Item B. Filer’s identifying number.

reached.

do not file a return by the due date,

Enter the filer’s identifying number of

including extensions, you may have to

Preparer’s signature. Anyone who

the employer, entity, or individual on

pay a penalty of 5% of the unpaid tax

prepares your return and does not

whom the tax is imposed. The

for each month or part of a month the

charge you should not sign your return.

identifying number of an individual

return is late, up to a maximum of 25%

For example, a regular full-time

(other than a sole proprietor with an

of the unpaid tax. The minimum penalty

employee or your business partner who

employer identification number (EIN)) is

for a return that is more than 60 days

prepares the return should not sign.

his or her social security number. The

late is the smaller of the tax due or

identifying number of all others is their

Generally, anyone who is paid to

$100. The penalty will not be imposed if

EIN.

prepare a return must sign it and fill in

you can show that the failure to file on

the Paid Preparer’s Use Only area.

Item C. Name and address of plan

time was due to reasonable cause. If

sponsor. The term plan sponsor

you file late, you must attach a

The paid preparer must complete the

means:

statement to Form 5330 explaining the

required preparer information and —

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reasonable cause.

1. The employer, for an employee

Sign the return by hand, in the space

benefit plan that a single employer

Penalty for late payment of tax. If

provided for the preparer’s signature

established or maintains;

you do not pay the tax when due, you

(signature stamps and labels are not

2. The employee organization in the

may have to pay a penalty of

of 1%

acceptable).

•

case of a plan of an employee

of the unpaid tax for each month or part

Give a copy of the return to the filer.

organization;

of a month the tax is not paid, up to a

3. The association, committee, joint

Part I — Summary of Taxes

maximum of 25% of the unpaid tax.

board of trustees, or other similar group

The penalty will not be imposed if you

Due

of representatives of the parties who

can show that the failure to pay on time

establish or maintain the plan, if the

Line 3. Section 4976 – Tax on

was due to reasonable cause.

plan is established or maintained jointly

Disqualified Benefits for Funded

Interest and penalties for late filing

by one or more employers and one or

Welfare Plans. Section 4976 imposes

and late payment will be billed

more employee organizations, or by

an excise tax on employers who

separately after the return is filed.

two or more employers; or

maintain a funded welfare benefit plan

4. The entity manager in the case of

that provides a disqualified benefit

Claim for Refund or Credit/

a prohibited tax shelter transaction.

during any tax year. The tax is 100% of

Amended Return

the disqualified benefit.

Include the suite, room, or other unit

File an amended Form 5330 for any of

Generally, a disqualified benefit is

numbers after the street number. If the

the following:

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any of the following:

post office does not deliver mail to the

To claim a refund of overpaid taxes

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Any post-retirement medical benefit

street address and you have a P.O.

reportable on Form 5330;

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or life insurance benefit provided for a

box, show the box number instead of

For a credit for overpaid taxes; or

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key employee unless the benefit is

the street address.

To report additional taxes due within

provided from a separate account

the same tax year of the filer if those

Item D. Name of plan. Enter the

established for the key employee under

taxes have the same due date as those

formal name of the plan, group

section 419A(d);

previously reported. Check the box in

insurance arrangement, or enough

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Any post-retirement medical benefit

item H on page 1 of the return and

information to identify the plan. This

or life insurance benefit unless the plan

report the correct amount of taxes in

should be the same name indicated on

meets the nondiscrimination

Parts II through XI, as appropriate, and

the Form 5500 series return/report if

requirements of section 505(b) for

on lines 1 through 13a of Part I. See

required to be filed for the plan.

those benefits; or

instructions for lines 13a through 13c.

Item E. Plan sponsor’s EIN. Enter the

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Any portion of the fund that reverts to

If you file an amended return to

nine-digit EIN assigned to the plan

the benefit of the employer.

claim a refund or credit, the claim must

sponsor. This should be the same

state in detail the reasons for claiming

number used to file the Form 5500

Enter on line 3 the total amount of

the refund. In order for the IRS to

series return/report.

the disqualified benefit.

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Instructions For Form 5330 - Internal Revenue Service Page 3

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