What are the penalties for late filing of Form 5500?
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Last modified 5/25/2020 9:11:58 AM EST
94X 1099 W-2 ACA W-4
Late filed returns are subject to penalties from both IRS and DOL.
- The IRS penalty for late filing of a 5500-series return is $25 per day, up to a maximum of $15,000.
- The DOL penalty for late filing can run up to $1,100 per day, with no maximum.
To know more about the penalties for late filing, click here.