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Form 5500 UT: What You Should Know

Filing Instructions. If you need more information concerning how to file form 5500 or 5500-EZ, the following instructions are helpful. Form 5500-EZ (Form 5500) Information for the Employer The 5500-EZ is mailed to the employer whose participant is the beneficiary. If any of your participant's dependents receive benefits under your plan, your employer must file Form 5500-EZ. If not, you may be eligible for credits. (The employer should file the return online instead of mailing the forms.) The 5500-EZ is filed with Form 5329, Income Tax Return (Form 1040). The 5500-EZ is due to the employer within 14 days of receipt. Each line of the 5500-EZ contains a unique identification number. The number identifies the filer and the filer's business, and is used by the IRS to match the information on the return with the information in its files. The filer's return will also contain the identification number. Frequently Asked Questions for the Employer should refer to the questions and answers in the Frequently Asked Questions box on page S-2 of this section. Form 5500-EZ (Form 5500) Information for Employers Form 5500 is filed on Form 1040 (Form 1040), with line 13 of the return. If you have a single participant, include the tax information on line 13, if you also receive a return that reflects other participants, report only the income tax imposed. If all participants pay tax at the same rate on their distributions, do not include the rate of tax on your return because it is not the rate that will be used to compute the refund. You may wish to use Form 1020, U.S. Individual Income Tax Return for the Year. Form 5500-EZ (Form 5500) Information for Participants If you have multiple participants, each individual participant should report only income for the participant. If you have more than one participant, you need only report the income tax as it applies to each of the participants. If a participant received any income distributions from his or her plan, report the distributions using Form 1041Q. Report the participant's income tax withholding and credits separately (on line 5 of Form 5500-EZ) and report the distribution amount paid separately (on line 5 of Form 5500).

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