The IRS recently published a statement on IRS.gov that permits filers of Form 5330, Return of Excise Taxes Related to Employee Benefit Plans, to file a paper Form 5330 in 2024.
The IRS issued final regulations in February 2023 that require employers (and other taxpayers) to file Form 5330 electronically for taxable years ending on or after Dec. 31, 2023 (e.g., 2023 calendar taxable years), if the filer is required to file at least 10 returns of any type during the calendar year that the Form 5330 is due (see Regulations Section 54.6011-3).
The regulations provide that if a taxpayer fails to file a Form 5330 electronically when required to do so, the filer has failed to file the return. However, the regulations and the instructions to Form 5330 also provide that, on an annual basis, the IRS may waive the requirement to file Form 5330 electronically in cases of undue hardship.
In its recent statement published on IRS.gov, the IRS explained that there is currently only one IRS authorized e-filing provider for the Form 5330, and therefore, the IRS has determined that a filer is permitted to file a paper Form 5330 in 2024.
The IRS indicated further that a Form 5330 filer should document that the reason for not filing electronically and filing a paper Form 5330 is the lack of authorized vendors.
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