CP214 5500-EZ Notice

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drzzzzz
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CP214 5500-EZ Notice

Post by drzzzzz »

I filed an amended form 5500-EZ for a second 401K that I had in December of 2014. I had to file an amended 5500-EZ since I completed the initial file return incorrectly and they helped me complete the amended 5500-EZ. I even have the follow-up letter from the IRS saying thanks, we received your Form 5500-EZ amended return, no further action is required.

This week I received a CP214 5500-EZ notice reminder for this same plan to file a return if it meets the criteria for filing. Since I have already terminated this plan and have the IRS letter saying they received the amended return, should I bother replying to this with the prior IRS letter and a copy of the final amended return or just not bother. I wrote a follow-up letter and then thought is this really necessary to send in and will it cause more issues.

Thanks
truenorth418
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Re: CP214 5500-EZ Notice

Post by truenorth418 »

If I were you I would reply to each and every IRS letter, regardless of whether you think the matter is settled or not. Keep records if everything. Don’t take anything for granted when it comes to these things.
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MP123
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Re: CP214 5500-EZ Notice

Post by MP123 »

When did the IRS start sending out CP214 reminder notices to file 5500-EZ?

It's nice of them, but I've never got one. From your description it doesn't sound to me like you'd need to respond. Does the reminder notice say otherwise?
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drzzzzz
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Re: CP214 5500-EZ Notice

Post by drzzzzz »

I think I starting receiving mine a few years back when I had two plans with assets together over $250,000 and filed two 5500-EZ for those plans. This current notice is a generic reminder about who has to file Form 5500-EZ such as foreign pension plans, or a one participant plan if you are above the $250,000 threshold, or if it's the final year of the plan. Was just trying to decide if I should clean up their paperwork trail in case it comes up again in the future for myself or heirs.
59Gibson
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Re: CP214 5500-EZ Notice

Post by 59Gibson »

Is this regarding your amended 2014 tax year? If so Wow! or is the IRS assuming the plan is in effect for 2020? I never knew the IRS sent these out either.
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drzzzzz
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Re: CP214 5500-EZ Notice

Post by drzzzzz »

59Gibson wrote: Wed Jan 13, 2021 2:56 pm Is this regarding your amended 2014 tax year? If so Wow! or is the IRS assuming the plan is in effect for 2020? I never knew the IRS sent these out either.
The amended was resolved in 2015 with their follow-up letter, saying thanks, no need to do anything, and we hope we didn't upset you. The letter this year is generic, but it is for the plan number that was closed in 2014 - so I was thinking it made sense to bring to their attention that it has been closed and they have the final amended filing for that plan from 2014. I started with two plans, the other plan is still open and they probably are confusing the two plans is my guess.
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drzzzzz
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Re: CP214 5500-EZ Notice

Post by drzzzzz »

59Gibson wrote: Wed Jan 13, 2021 2:56 pm Is this regarding your amended 2014 tax year? If so Wow! or is the IRS assuming the plan is in effect for 2020? I never knew the IRS sent these out either.
The amended was resolved in 2015 with their follow-up letter, saying thanks, no need to do anything, and we hope we didn't upset you. The letter this year is generic, but it is for the plan number that was closed in 2014 - so I was thinking it made sense to bring to their attention that it has been closed and they have the final amended filing for that plan from 2014. I started with two plans, the other plan is still open and they probably are confusing the two plans is my guess.
59Gibson
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Re: CP214 5500-EZ Notice

Post by 59Gibson »

drzzzzz wrote: Wed Jan 13, 2021 3:01 pm
59Gibson wrote: Wed Jan 13, 2021 2:56 pm Is this regarding your amended 2014 tax year? If so Wow! or is the IRS assuming the plan is in effect for 2020? I never knew the IRS sent these out either.
The amended was resolved in 2015 with their follow-up letter, saying thanks, no need to do anything, and we hope we didn't upset you. The letter this year is generic, but it is for the plan number that was closed in 2014 - so I was thinking it made sense to bring to their attention that it has been closed and they have the final amended filing for that plan from 2014. I started with two plans, the other plan is still open and they probably are confusing the two plans is my guess.
And they never sent this 2016-2019? Or is this first year over 250k?
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drzzzzz
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Re: CP214 5500-EZ Notice

Post by drzzzzz »

59Gibson wrote: Wed Jan 13, 2021 3:04 pm
drzzzzz wrote: Wed Jan 13, 2021 3:01 pm
59Gibson wrote: Wed Jan 13, 2021 2:56 pm Is this regarding your amended 2014 tax year? If so Wow! or is the IRS assuming the plan is in effect for 2020? I never knew the IRS sent these out either.
The amended was resolved in 2015 with their follow-up letter, saying thanks, no need to do anything, and we hope we didn't upset you. The letter this year is generic, but it is for the plan number that was closed in 2014 - so I was thinking it made sense to bring to their attention that it has been closed and they have the final amended filing for that plan from 2014. I started with two plans, the other plan is still open and they probably are confusing the two plans is my guess.
And they never sent this 2016-2019? Or is this first year over 250k?
The plan has only small amount in it now and don't recall if they sent for prior years or not. It's a reminder notice that doesnt need a reply except as I thought about it more, I was wondering if I should re-send the paperwork that was previously submitted and accepted by them so they would stop sending the notice.
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