What are the penalties for late filing of Form 5500?
2.8k views |
Last modified 5/25/2020 9:11:58 AM EST
Applicable To
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.