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Retirement

Reminder: Retirement Plan Returns, Termination Applications Have Upcoming Deadlines

Thomson Reuters Tax & Accounting  

Thomson Reuters Tax & Accounting  

Reminder: calendar year retirement, etc. plan returns are due on August 2, 2021. And July 31, 2021 is the deadline for filing a paper version of Form 5310, Application for Determination for Terminating Plan.

Returns.

The following returns are due on August 2, 2021 for calendar year plans:

  • Form 5500, Annual Return/Report of Employee Benefit Plan
  • Form 5500-SF, Short Form Annual Return/Report of Small Employee Benefit Plan
  • Form 5500-EZ, Annual Return of A One-Participant (Owners/Partners and Their Spouses) Retirement Plan or A Foreign Plan
  • Form 8955-SSA, Annual Registration Statement Identifying Separated Participants with Deferred Vested Benefits

Observation.

These tax returns are generally due on July 31. However, July 31, 2021 is a Saturday, so the due date is Monday, August 2, 2021.

Termination applications for determination.

A plan sponsor or administrator (“applicant”) uses Form 5310 to request a determination letter (“DL”) regarding the qualified status of a pension, profit-sharing, or other deferred compensation plan (“plan”) on termination of the plan. (Rev Proc 2021-4, 2021-1 IRB 157) When terminating a plan, an applicant must submit a completed Form 5310 and provide additional required information.

IRS will continue to accept paper versions of Form 5310 through July 31, 2021. After July 31, 2021, all Form 5310 applications must be submitted electronically. Paper submissions postmarked after July 31, 2021 will be returned to the applicant. See Beginning April 16, plan termination application can be submitted electronically.

To continue your research on forms and attachments for requesting determination letters for terminating retirement plans, see FTC 2d/FIN ¶ T-10547.

 

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