The IRS is conducting a study of how burdensome it is for pension plan sponsors to fulfill tax reporting requirements with which they must comply. It will be conducted throughout 2019.
In response to reports the IRS received that these requirements exact a high cost in expenditure of time and money, Westat is conducting an online survey of plan sponsors. It is not open to all plan sponsors, however; only those randomly selected from among the filers of Forms 5500, 5500-EZ and 5500SF for plan year 2017 may participate. Participants will receive an invitation.
The IRS says that the survey should be completed by the individual responsible for filing the plan’s federal plan annual return. That is the case, even if that person has someone else prepare the return. The IRS says that such individuals may consult with those other parties, but asks that the survey not be forwarded to them.
The IRS assures survey participants that their responses will be used only for research and aggregate reporting purposes and will not be used for other non-statistical on non-research purposes – such as enforcement.
- Log in to post comments