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Stupid 5500-EZ question

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  • Stupid 5500-EZ question

    I had to file this form for the first time this year and kind of procrastinated until the end of July. I filled it out on the IRS site, printed it out and mailed it in... I didn't do a return receipt or anything, so now I'm feeling paranoid and worrying that they didn't get it or that I'll be charged penalties for failure to file.
    Anything I can do to find out whether it was received/processed?

  • #2
    You could call, but good luck with that. Wait times are sometimes hours. Hopefully you kept a copy? Can you prove you mailed it (certified mail, etc.)? If so, I wouldn’t worry about it. Chances are pretty good it will take them a year to clear their backlogs.


    • #3
      You should be fine, recommend you find something else to worry about. Even in the unlikely event IRS did not receive - ever - they are especially forgiving if you “forget” the first time (realize this is not the case, just a common example). You simply need to write a letter, explain what happened and that you overlooked the RRR, you have always been a compliant tax filer, and this will never happen again (important to say). But there is no reason to sweat this over a year or even a day.
      Our passion is protecting clients and others from predatory and ignorant advisors. Fox & Co CPAs, Fox & Co Wealth Mgmt. 270-247-6087


      • #4
        Others have filed multiple years with the letter of explanation without problems.
        Keep a copy. If a question comes up, send it with the letter.
        Those new 40,000 agents need something to do. This is a record keeping requirement for non-deductible contributions and conversions. No change in tax liability. Don’t sweat it.


        • #5
          Thanks all