Tax Tip #242

Ralph Loggia • April 8, 2025

Owners Of A Solo 401K and/or SEP-IRA May Have An Informational Only Filing Requirement

A one-participant plan must file an annual Form 5500-EZ if its total assets exceed $250,000 at the end of the year. There is no tax due — it is an informational only filing.


The penalties for noncompliance are steep: $250 a day, up to a maximum penalty of $150,000 per plan year for not filing the return by the 7/31 due date which for calendar year plans.


Have a SEP-IRA or Solo 401K plan and need assistance? Contact a Goldstein & Loggia team member today.

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