Employers must soon electronically submit a form to the IRS. Form 5300 (Application for Determination for Employee Benefit Plan) is filed to request a determination letter from the IRS for the initial qualification of a defined benefit or a defined contribution plan. Beginning June 1, 2022, Form 5300 must be submitted electronically here: https://bit.ly/3NOpPj1. The IRS will continue accepting paper 5300s through June 30, 2022. A confirmation e-mail will be received after the form is submitted electronically. The user fee for a Form 5300 is currently $2,700 (or $4,000 for multiple employer plans) if a plan doesn’t qualify for no user fee. To learn more: https://bit.ly/38WZ39e Call or visit our website for more information! www.mjscpa.com/
