VALID › Notice Library › CP295 notice
In the IRS’s own words · not reviewed by VALID
CP295 notice explained, in the IRS’s own words
We previously charged you a penalty for filing a late or incomplete Form 5500, Annual Return/Report of Employee Benefit Plan, but we didn’t receive a reply from you.
Read the full CP295 page on irs.gov ↗
What this notice is about
We previously charged you a penalty for filing a late or incomplete Form 5500, Annual Return/Report of Employee Benefit Plan, but we didn’t receive a reply from you.
What you need to do
- Pay the amount due electronically or by mail to avoid additional penalty and interest charges.
- If sending your payment by mail, use the address shown on your notice. Write your employer ID number, plan number, type of plan, plan year ending date, and form number on your payment.
- If your return was incomplete, you must provide the missing or incomplete information.
- Fax your information to 877-792-2864. (Protect yourself when sending digital data by understanding the fax service’s privacy and security policies.)
Frequently Asked Questions
What steps can I take if I can't pay the full amount? (updated March 26, 2026)
- If you can’t pay the full amount due, pay as much as you can now to avoid added interest.
- Request a payment plan, if you can’t pay the full amount you owe.
What if I don't pay the amount by the due date?
Additional penalties and interest will accrue.
Can I request the penalty be removed or reduced? (updated March 26, 2026)
- You can send a signed statement and request removal of the penalty, if you have an acceptable reason why your return was late or incomplete. Identify which penalty you want reconsidered and why. We'll review the information and let you know in approximately 45 days if we accept your explanation.
- You must provide any missing or incomplete information.
- You can mail a signed Form 843 PDF and submit it with your missing or incomplete information to the address on your notice; or
- Fax your reasonable cause statement and missing information to 877-792-2864. (Protect yourself when sending digital data by understanding the fax service’s privacy and security policies.
Tips for next time you file
The IRS, Department of Labor, and Pension Benefit Guaranty Corporation jointly developed the Form 5500-series returns for employee benefit plans to satisfy annual reporting requirements under ERISA and the Internal Revenue Code.
Plan sponsors must generally file the return on the last day of the seventh month after their plan year ends. For more information, visit Form 5500 Corner.
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.