Instructions For Form 5330 - Internal Revenue Service (Page 3 of 13) in pdf

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Each year (or part of a year) in the

Interest is also charged on penalties

taxable period applicable to a prohibited

Specific Instructions

imposed for failure to file, negligence,

transaction, under section 4975. See

fraud, gross valuation overstatements,

Filer tax year. Enter the tax year of

the instructions for Schedule C, line 2,

and substantial understatements of tax

the employer, entity, or individual on

columns (d) and (e), for a definition of

from the due date (including

whom the tax is imposed.

taxable period.

extensions) to the date of payment. The

Item A. Name and address of filer.

interest charge is figured at a rate

When To File

Enter the name and address of the

determined under section 6621.

File one Form 5330 to report excise

employer, individual, or other entity who

taxes with the same filing due date.

is liable for the tax.

Penalty for late filing of return. If

One Form 5330 may be filed to report

Include the suite, room, or other unit

you do not file a return by the due date,

one or more of these taxes. However, if

numbers after the street number. If the

including extensions, you may have to

the taxes are from separate plans, file

post office does not deliver mail to the

pay a penalty of 5% of the unpaid tax

separate forms for each plan.

street address and you have a P.O.

for each month or part of a month the

box, show the box number instead of

Generally, the filing of a Form 5330

return is late, up to a maximum of 25%

starts the statute of limitations running

the street address.

of the unpaid tax. The minimum penalty

only with respect to the particular

Item B. Filer’s identifying number.

for a return that is more than 60 days

excise tax(es) reported on that Form

Enter the filer’s identifying number of

late is the smaller of the tax due or

5330. However, statutes of limitations

the employer, entity, or individual on

$100. The penalty will not be imposed if

with respect to the prohibited

whom the tax is imposed. The

you can show that the failure to file on

transaction excise tax(es) are based on

identifying number of an individual

time was due to reasonable cause. If

the filing of the applicable Form 5500.

(other than a sole proprietor with an

you file late, you must attach a

Use Table 1 to determine the due date

employer identification number (EIN)) is

statement to Form 5330 explaining the

of Form 5330.

his or her social security number. The

reasonable cause.

Extension. File Form 5558,

identifying number of all others is their

Application for Extension of Time to File

EIN.

Penalty for late payment of tax. If

Certain Employee Plan Returns, to

Item C. Name of plan. Enter the

you do not pay the tax when due, you

request an extension of time to file. If

formal name of the plan, group

approved, you may be granted an

may have to pay a penalty of

of 1%

insurance arrangement, or enough

extension of up to 6 months after the

of the unpaid tax for each month or part

information to identify the plan. This

normal due date of Form 5330.

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

should be the same name indicated on

maximum of 25% of the unpaid tax.

Caution: Form 5558 does not extend

the Form 5500 series return/report if

The penalty will not be imposed if you

the time to pay your taxes. See the

required to be filed for the plan.

can show that the failure to pay on time

instructions for Form 5558.

Item D. Name and address of plan

was due to reasonable cause.

sponsor. The term plan sponsor

Where To File

means:

Interest and penalties for late filing

1. The employer, for an employee

File Form 5330 with

and late payment will be billed

benefit plan that a single employer

the: Department of the

separately after the return is filed.

established or maintains;

Treasury, Internal Revenue

2. The employee organization in the

Service Center, Ogden, UT 84201.

case of a plan of an employee

Claim for Refund or Credit/

Private delivery services. You can

organization;

use certain private delivery services

Amended Return

3. The association, committee, joint

designated by the IRS to meet the

board of trustees, or other similar group

File an amended Form 5330 for any of

“timely mailing as timely filing/paying”

of representatives of the parties who

the following:

rule for tax returns and payments.

establish or maintain the plan, if the

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To claim a refund of overpaid taxes

These private delivery services include

plan is established or maintained jointly

reportable on Form 5330;

only the following:

by one or more employers and one or

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DHL Express (DHL): DHL Same Day

For a credit for overpaid taxes; or

more employee organizations, or by

Service, DHL Next Day 10:30 a.m.,

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two or more employers.

To report additional taxes due within

DHL Next Day 12:00 p.m., DHL Next

the same tax year of the filer if those

Day 3:00 p.m., DHL 2nd Day Service.

Include the suite, room, or other unit

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taxes have the same due date as those

Federal Express (FedEx): FedEx

numbers after the street number. If the

previously reported. Check the box in

Priority Overnight, FedEx Standard

post office does not deliver mail to the

item H on page 1 of the return and

Overnight, FedEx 2Day, FedEx

street address and you have a P.O.

report the correct amount of taxes in

International Priority, and FedEx

box, show the box number instead of

Schedule A through K, as appropriate,

International First.

the street address.

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and on lines 1 through 16 of Part I. See

United Parcel Service (UPS): UPS

Item E. Plan sponsor’s EIN. Enter

instructions for Part II, lines 17 through

Next Day Air, UPS Next Day Air Saver,

the nine-digit EIN assigned to the plan

19.

UPS 2nd Day Air, UPS 2nd Day Air

sponsor. This should be the same

A.M., UPS Worldwide Express Plus,

number used to file the Form 5500

and UPS Worldwide Express.

If you file an amended return to

series return/report.

claim a refund or credit, the claim must

The private delivery service can tell

Item F. Plan year ending. Plan year

state in detail the reasons for claiming

you how to get written proof of the

means the calendar or fiscal year on

mailing date.

the refund. In order for the IRS to

which the records of the plan are kept.

promptly consider your claim, you must

Enter eight digits in month/date/year

Interest and Penalties

explain why you are filing the claim and

order. This number assists the IRS in

provide the appropriate supporting

Interest. Interest is charged on taxes

properly identifying the plan and time

evidence. See Regulations section

not paid by the due date even if an

period for which the Form 5330 is being

301.6402-2 for more details.

extension of time to file is granted.

filed. For example, a plan year ended

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Instructions For Form 5330 - Internal Revenue Service Page 3

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