What is the 5500-EZ Form?

The Form 5500-EZ is an annual report of plan activity required by the IRS that must be filed for 401(k) one-participant plans.

The form requires plans to disclose financial and operational details, which are used by the Department of Labor, Internal Revenue Service, and the Pension Benefit Guaranty Corporation for research and compliance purposes. 

The annual report requires disclosure of:

  • General plan information and service providers
  • Number of participants 
  • Financial data such as assets, liabilities, income, expenses, and rollovers
  • Types of benefits provided for under the plan
  • Operational activities
  • Plan funding

Effective for plan years beginning on or after January 1, 2020, the Form 5500-SF can no longer be used by a one-participant plan. As a result, every one-participant plan required to file an annual return must now file the Form 5500-EZ electronically using the EFAST2 filing system or file Form 5500-EZ on paper with the IRS.

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