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What is Form 5558?
Form 5558, Application for Extension of Time To File Certain Employee Plan Returns, is an IRS form used by employers requesting an extension of time to file employee plan returns. Employers may file an extension for the following tax forms:
- Form 5500, Annual Return/Report of Employee Benefit Plan
- Form 5500-SF, Short Form Annual Return/Report of Small Employee Benefit Plan
- Form 5500-EZ, Annual Return of One-Participant Retirement Plan
- Form 5330, Return of Excise Taxes Related to Employee Benefit Plans
If the IRS approves an employer’s IRS form 5558, they will get an additional two and a half months extension to file their plan returns. However, this extension doesn’t include the extension of time for employers to pay their taxes due.
For an employer to be granted an extension, they must meet the following conditions:
- The employer’s tax year and the plan year indicated in this Form are the same
- They received an extension to file the federal income tax return later than the normal due date for filing the tax forms.
Take note that you have to file 5558 form IRS on time, as filing late may incur penalties.
You may download a PDF copy of the 5558 form from the IRS website. However, you may electronically fill it out on PDFRun for your convenience.
How to fill out Form 5558?
Get a copy of 5558 template in PDF format.
Enter the necessary information on the required fields. Make sure that the information you enter is true, accurate, and correct.
Part I - Identification
Part I requires your personal information.
Name of filer, plan administrator, or plan sponsor
Enter the name of the filer, plan administrator, or plan sponsor.
Number, street, and room or suite no.
Enter your number, street, and room or suite number.
City or town, state, and ZIP code
Enter your city or town, state, and ZIP code.
Filer’s identifying number
Enter your nine-digit employer identification number (EIN) and nine-digit social security number.
If you don’t have an EIN, you must apply for one by filling out Form SS-4, Application for Employer Identification Number (EIN), and attaching it to Form 5558.
Enter the plan name.
Enter the plan number.
Plan year ending
Enter the date the plan year will end. Enter it in MM/DD/YYYY.
Part II - Extension of Time To File Form 5500 Series, and/or form 8955-SSA
Part II is required to be filled out if you are filing a request for an extension of time to file Form 5500 series, Form 8955-SSA, Annual Registration Statement Identifying Separated Participants With Deferred Vested Benefits or both.
Check Item 1 to determine if you are requesting an extension of time on Item 2 to file the first Form 55000 series return or report for the plan listed in Part I Item C above. Otherwise, leave it blank.
Enter the date you are requesting for an extension of time to file Form 5500 series. Take note that a signature is not required in requesting an extension to file Form 5500 series.
Enter the date you are requesting for an extension of time to file Form 8955-SSA. Take note that a signature is not required in requesting an extension to file Form 8955-SSA.
Your application will be automatically approved to the date you entered on Item 2 and 3 if you complied with the following:
- You filed IRS form 5558 on or before the due date of the Form 5500 series, Form 8955-SSA or both for which the extension is requested; and
- The date on Item 2 or 3 is not later than the 15th day of the third month after the normal due date.
Part III - Extension of Time To File Form 5330
This part is required to be filled up if you are requesting an extension of time to file Form 5330, Return of Excise Taxes Related to Employee Benefit Plans. Use a separate 5558 form in filing this extension of time.
Enter the date you are requesting for an extension of time to file Form 5330. Take note that you may be approved for up to a six-month extension in filing Form 5500 after the normal due date of Form 5330.
Enter the Code sections imposing the tax.
Enter the payment amount attached.
For payments, do not send cash. Make your money order or check payable to the “United States Treasury,” and write your name, filer’s identifying number (whether EIN or SSN), plan number, Form 5330 section number, and tax year where the payment applies.
Enter the reversion or amendment date for excise taxes under section 4890 or 4890F of the Internal Revenue Code.
Enter your explanation of why you need the extension. Make sure to state your explanation in detail.
Take note that the IRS will only consider a reasonable extension if the circumstances you provide under this item will prevent your practitioner, for reasons beyond their control, from filing the return by the normal due date and in which you are unable to get professional help despite efforts in doing so.
Affix your signature.
Enter the date you signed this form.
How to file Form 5558?
File 5558 form IRS with the Department of Treasury, Internal Revenue Service Center, at Ogden, Utah. You may also use private delivery services (PDS) designated by the IRS so you can meet the “timely mailing as timely filing” rule for tax returns. Visit your chosen PDS to know more about how to get written proof of the mailing date.
In filing a request for an extension of time to file Form 5500 series, Form 8955-SSA or both, and Form 5330, use a separate Form 5588 for each plan. But you may use a single Form 5558 IRS if you are filing to extend the time to file a plan’s Form 5500 series return and its Form 8955-SSA. Take note that the list of other plans should not be attached to Form 5588 as they will not be processed.
Start filling out a 5558 sample and export in PDF.