Form 5558 2022 Printable, Fillable PDF – Form 5558 is a request for more time to submit certain employee benefit plan returns that is used by businesses to seek extra time to file.
Form 5558 is used by employers when they want more time to submit other forms; employers may file Form 5558 for a single extension. Form 5558 is used in conjunction with three tax forms, including:
- Form 5500, Annual Return/Report of Employee Benefit Plan, is a federally mandated form.
- Form 5500-EZ, Annual Return of a One-Participant Retirement Plan (Form 5500-EZ, Annual Return of a One-Participant Retirement Plan)
- Excise Tax Return for Excise Taxes Associated with Employee Benefit Plans (Form 5330)
Employers will have an additional 2.5 months to submit their Form 8955-SSA report as well as their Form 5500 annual report if they use Form 5558. Employers will not have any more time to pay any taxes that are payable as a result of this extension. In order to be granted an extension to complete Form 5530, all taxes payable must be paid together with the application for the extension. Even if an extension is granted, interest will continue to accumulate on any taxes that are not paid by the due date.
Instructions For Completing Form 5558 Are Detailed Below
Employees requesting an extension on the following forms should provide their name and address in the header if they are a single employer requesting an extension on the following forms:
- Form 5500 is a legal document that documents a legal relationship between a person and a business.
- Form 5500-EZ (Easy to Fill Out)
- Form 5330 is a legal document that documents a legal relationship between a person and a business.
If the filer is filling out the form on behalf of someone other than a single employer, the name of the plan sponsor or administrator should be included. The name of the plan sponsor on this form should be the same as the name given on the annual report/return that has been submitted to the Internal Revenue Service. Following that, the following should be included:
- Physical or P.O. Box addresses are acceptable.
- The number of a room, apartment, or unit.
- The EIN is an acronym that stands for Employer Identification Number.
Employers are issued an Employer Identification Number (EIN) for taxation reasons. The EIN must be included on all applications for Forms 5500 or 5500-EZ.
If any additional contributions were made to a custodial account, or if the filer is an ineligible person who is not the employer, a Social Security number must be supplied on the application.
All plans contained on Form 5558 must have the following items completed and on the table in their entirety:
- The plan’s official name
- of the plan.
- The conclusion of the fiscal year in which the plan was implemented
In order to comply with the Internal Revenue Service’s “timely mailing recognized as timely filing and paying” regulation for tax payments and tax returns, the IRS selects specified delivery providers that companies may utilize to submit Form 5558. Generally, if an employer employs one of these preferred delivery providers, the date on the postmark will be the date that the Internal Revenue Service will use as the filing date.