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In the IRS’s own words · not reviewed by VALID
CP214 notice explained, in the IRS’s own words
A reminder for Employee Plan filers, who have previously filed, of their obligation to review their plan status and timely file a return if they meet certain conditions.
Read the full CP214 page on irs.gov ↗
What this notice is about
A reminder for Employee Plan filers, who have previously filed, of their obligation to review their plan status and timely file a return if they meet certain conditions.
What you need to do
You don't have to respond since this is a reminder notice. However, if your plan is a one-participant plan or a foreign plan, as defined under instructions for Form 5500-EZ PDF, you must file an electronic Form 5500-EZ online through the computerized ERISA Filing Acceptance System (EFAST2) or a paper Form 5500-EZ with the IRS. For more information, see Form 5500-EZ Instructions and the second page of the notice.
You may want to
- Review the requirements for filing a Form 5500-EZ.
- Review the filing requirements for your plan and determine if you are required to file a Form 5500-EZ for the plan period referenced on the notice.
- If you are required to file, complete, and submit your Form 5500-EZ on or before the filing deadline.
Frequently asked questions
When are CP 214 notices sent?
Two months before the plan year ends.
What should I do if I receive a CP 214 notice?
Review your records to determine if you're required to file a Form 5500-EZ for the current plan year. If you are, you must file the return by the last day of the 7th calendar month after the end of the plan year (July 31 for calendar-year plans). You may use Form 5558, Application for Extension of Time To File Certain Employee Plan Returns PDF, to apply for a one-time extension of time to file.
Who is responsible for filing the Form 5500-EZ?
The plan sponsor is responsible for filing annual Form 5500-EZ.
In some cases, the plan sponsor may have a contract with an outside administrator who may complete the form. However, the plan sponsor or plan administrator is responsible for the accuracy of the filing and must sign the return. To determine if your contract with an outside administrator covers the completion of the form, review your contract.
Where can I find more information about who needs to file a Form 5500-EZ?
For more information on Employee Plans returns visit IRS.gov/ep or call our Customer Account Services at 877-829-5500.
Tips for next year
Consider filing your Form 5500-EZ electronically on the EFAST2 system. Filing electronically makes the process easier for the filer and increases data accuracy. For more information, visit the EFAST2 website to find Frequently Asked Questions.
What to do next
- Write down the date on the letter today.
- Look the number up on irs.gov yourself. Don’t trust a link or phone number from anyone else.
- If it says you owe money or proposes changes to your return, take it to a licensed CPA, EA or tax attorney before that date.
Not advice. Not a filing. Verify with a licensed professional. Rules change by year and facts.