The IRS has confirmed that no action is needed on recent 2019 Form 5500 extension letters. The confirmation came in the Feb. 17 edition of the IRS newsletter, Employee Plans News.
This confirmation is consistent with the Feb. 11 report by Kelsey Mayo, American Retirement Association’s Director of Regulatory Policy, who noted that ASPPA had confirmed with IRS officials at the IRS that no further action needed to be taken by those who received letters from the IRS approving requests for an extension of the Dec. 31, 2019 Form 5500 filing deadline months late. She also had noted that the IRS would “shortly publish a special edition newsletter acknowledging that reality, and confirming that no additional action is required on behalf of those who timely requested an extension last fall.”
The Feb. 17 IRS newsletter says that plan sponsors do not need to take further action if they are currently receiving Notice CP 216F, Approval of Extension to file Form 5500 Series Return, for calendar year 2019 Forms 5500 series returns, after the final return for 2019 has been submitted.
“Processing of the Form 5500 extensions was delayed in 2020,” the IRS says. “This resulted in a delay in mailing Notice CP 216F. Typically, Notice CP 216F for calendar year 2019 Forms 5500 would have been mailed in the Summer/Fall 2020 before the final return was due,” it continues.
The IRS says that if one has just received the Notice CP 216F, it considers the request for the extension to have been timely received and that the extension has been approved for filing the 2019 Form 5500—and that no further action is necessary.
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