401K Reporting to IRS — Form 5500-EZ

If you have a self-directed 401K plan (one participant plan) AND the plan is valued at $250,000 or more, this is timely notice on federal reporting requirements of your 401K plan and its assets.

For such plans, the IRS requires that if plan assets meet or exceed $250,000 in value, the plan trustee:

1)  Must complete and file a Form 5500-EZ.

2)  Reporting must occur by July 31 if the 401K plan is on a calendar business year (January 1 – December 31).  Extensions to this due date, like an individual return, can be applied for.

For convenience, the IRS allows electronic submission of this information through a Form 5500-SF.  If a paper Form 5500-EZ is submitted is must be mailed to:

Department of the Treasury/IRS/Ogden, UT 84201-0020