Form 5500 Reminder | American Funds

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News

JUNE 7, 2017

Form 5500 Reminder for Profit-Sharing and Money Purchase Pension Plans

 

If you’re a plan sponsor of a profit-sharing plan or a money purchase pension plan using the American Funds prototype plan document, you or your designated plan administrator may be required to file an annual return of the Form 5500 series. Capital Bank and Trust Company℠ serves as your plan’s trustee and is not your plan administrator.

The applicable 5500 form must be filed by the last day of the seventh calendar month after the end of the plan year. Failure to do so may result in an IRS penalty. A one-time extension of up to 2½ months may be obtained by filing Form 5558 on or before the normal deadline (not including extensions).

Use this table to help you determine how and which form in the 5500 series to file:

In general, file this form if you’re required to file an annual return and…

… your plan had 100 or more participants at the beginning of the plan year.

If you have multiple plans (e.g., a money purchase pension plan and a profit-sharing plan), a separate form must be filed for each.

… your plan had fewer than 100 participants at the beginning of the plan year.

or

… you have one or more single-participant plans and the combined assets exceed $250,000 at the end of the plan year, and you’ll file the form electronically.

… you have one or more single-participant plans and the combined assets exceed $250,000 at the end of the plan year, and you prefer to file a paper copy.

Filing Requirements

Electronic filing required through IFILE or an EFAST2-approved vendor.

Electronic filing required through IFILE or an EFAST2-approved vendor.

A paper copy only must be mailed to:

Department of the Treasury,
Internal Revenue Service,
Ogden, UT 84201-0020

The above table includes general guidelines. Additional requirements may apply. For more information, please contact your tax advisor or local IRS office. You can also visit irs.gov and dol.gov.


Investments are not FDIC-insured, nor are they deposits of or guaranteed by a bank or any other entity, so they may lose value.

Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the fund prospectuses and summary prospectuses, which can be obtained from a financial professional and should be read carefully before investing.