If your plan was closed and all assets under the plan have been distributed to the participants and beneficiaries or legally transferred to an IRA or another plan, you must file the final Form 5500-EZ and check “the final return filed for the plan” in Part I, Line A(3) at the top of Form 5500-EZ. If you didn’t file the required final return, you may request penalty relief using the IRS penalty relief program or request penalty relief due to reasonable cause. You should not seek reasonable cause relief as part of your submission under the IRS penalty relief program with respect to the same delinquent return.
Sources:
Publication 550 (2023)
Publication 575 (2023)
IRS FAQ
IRM Part 21. Customer Account Services. Chapter 3. Taxpayer Contacts. Section 8. Tax Exempt/Government Entities (TEGE) Customer Account Services (CAS) Telephone Operations
Publication 560 (2023)
IRM Part 3. Submission Processing. Chapter 13. Campus Document Services. Section 36. EPMF Account Numbers
IRM Part 3. Submission Processing. Chapter 11. Returns and Documents Analysis. Section 27. EPMF Return Processing Form 5500-EZ
