If you blinked, you missed it: Form 5500 extension repealed

March 14, 2016

Blog Post

In March 2015, the Surface Transportation and Veteran’s Health Care Choice Improvement Act included a provision that lengthened the automatic extension for Form 5500 filings from 2½ months to 3½ months. For a calendar year plan, this moved the extended due date from October 15 to November 15. This extension was to be in effect for Form 5500 filings due for tax years beginning after December 31, 2015.

Before this could really go into effect, the Fixing America’s Surface Transportation Act of 2015 (the “FAST Act”) repealed it and returned the extension to the 2½ months that benefit plans have used for years.

Because the repeal occurred so quickly, the extended filing date for plan years beginning in 2016 will not change.

McDonald Hopkins, a destination law firm for top legal talent, is pleased to announce that Madison Massie has joined the firm's Business Department as an Associate, bringing her knowledge and expertise to the Tax and Benefits Practice Group.

Companies should begin evaluating whether they qualify for an exemption from CTA reporting requirements, and if not, begin preparing reporting information and constructing policies to ensure continued compliance with the CTA.

The past year has been dominated by news of Beyoncé’s Renaissance World Tour and Taylor Swift’s Eras Tour but tickets have been incredibly difficult to come by. This is largely due to ticket scalpers, however, the Internal Revenue Service, IRS, is taking action to help concert-goers.

If you blinked, you missed it: Form 5500 extension repealed

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