Get the free form 5558 2018-2023

Form 5558 is an IRS form used for requesting an extension of time to file certain employee benefit plan returns. It is typically used by employers who sponsor pension or welfare benefit plans.

Form 5558 must be filed by employers who offer certain types of retirement plans, such as a Simplified Employee Pension (SEP) or a Savings Incentive Match Plan for Employees (SIMPLE). This form is used to extend the filing deadline for certain retirement plan returns.

Form 5558 is used to request a filing extension for certain retirement plan returns. The information required on this form includes the name and address of the filer, the type of return being filed, the tax year of the return being filed, the date the return is due, and the reason an extension is being requested.

The deadline to file Form 5558 in 2023 is April 15, 2024.

Form 5558 is used to request an automatic extension of time to file certain employee plan returns. To fill out form 5558, follow these steps: 1. Obtain the form: Download Form 5558 from the Internal Revenue Service (IRS) website or request a copy through the mail. 2. Provide identification details: Fill in the employer identification number (EIN) and plan number on the top right corner of the form. If you don't have an EIN or plan number, you need to apply for them separately. 3. Provide plan information: Fill in the plan name, sponsor's name, and the plan administrator's name and address in the respective fields. If you are the plan administrator, you should provide your own information. 4. Indicate the correct section: Check the appropriate box under "Type of Plan" to indicate the employee retirement plan for which you are requesting an extension. 5. State the reason for extension: In Part I, provide a brief explanation of why you need the extension and the specific date you need the extension until. 6. Attach supporting statements: If necessary, attach any supporting statements or documents that explain the reason for the extension request. 7. Signature and date: The plan administrator, sponsor, or authorized representative should sign and date the form at the bottom of the page. 8. Retain a copy: Make a photocopy of the completed and signed form for your records. 9. Submit the form: Send the completed form to the IRS at the address provided in the instructions for Form 5558. Remember to consult the instructions for Form 5558 provided by the IRS for more detailed information and any specific requirements for your particular situation.

Form 5558 is used to request an extension of time to file certain employee benefit plans' annual returns. The purpose of this form is to provide plan sponsors with an additional time period of up to 2½ months to file the required annual returns. The form must be filed before the due date of the return to obtain the extension.

The penalty for late filing of Form 5558 varies depending on the circumstances. Generally, the penalty for filing a late Form 5558 is $50 for each month or part of a month the form is late, multiplied by the total number of individuals or participants the Form 5558 pertains to. However, the penalty can be reduced or waived if the delay in filing was due to reasonable cause and not willful neglect. It is advisable to consult with a tax professional or refer to the instructions of Form 5558 for specific penalties and provisions in your situation.

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