Form 5500-EZ FAQsWhat is form 5500-EZ? IRS Form 5500-EZ is an informational filing by one-participant plans to satisfy certain annual reporting and filing obligations imposed by the IRS. How do I know my Solo 401k plan value? Aggregate the total assets for all participants in the plan. If you have taken a participant loan, include the balance in your plan assets. You are required to file a 5500-EZ once the plan assets in your Solo 401k reach $250,000 or greater. For example, if you have $30,000 in the bank and own a rental house worth $240,000, your plan assets total $270,000 and you need to file a 5500-EZ.
Where do I file the 5500-EZ?The Form 5500-EZ must be filed via mail. It should be filled out and mailed to: Department of the Treasury Internal Revenue Service Ogden, UT 84201-0020 Online Filing Now Available Through IRS EFAST2 System As of January 1, 2021 you can use the EFAST2 filing system to file IRS form 5500 series online. This includes an online filing of IRS form 5500-EZ. The IRS released several helpful tutorial videos:
- EFAST2 and IFILE Quick Start Guide
- Registration and Login Tutorial
- Use IFILE to create, sign, and submit a filing
- Just review and sign a filing in IFILE