IRS Announces Permanent Form 5500-EZ Relief Program.
On May 29, 2015, the IRS announced a permanent Form 5500-EZ relief program citing the success of the pilot relief program that ended June 2, 2015. Under the permanent relief program, “one-participant” plans and certain foreign plans that are not subject to Title I of ERISA (and, as a result, are ineligible for the DOL’s Delinquent Filer Voluntary Compliance Program) may file delinquent Form 5500-EZ returns with the IRS without submitting a statement of reasonable cause. A submission under the permanent relief program is subject to a $500 payment for each delinquent return, up to a maximum payment of $1,500 per plan. This new program is described further in Revenue Procedure 2015-32.