Recordkeeping 30 hr. Transfer to, or use by or for the benefit of, a disqualified person of income or assets of a plan. Enter the filer's identifying number in the appropriate section. ESOP, Line 6. Individual Tax Return. See sections 4975 d , 4975 f 6 B ii , and 4975 f 6 B iii for specific exemptions to prohibited transactions.
An employer or worker-owned cooperative, as defined in section 1042 c 2 , that maintains an employee stock ownership plan ESOP that disposes of the qualified securities, as defined in section 1042 c 1 , within the specified 3-year period see section 4978. To claim a refund of overpaid taxes reportable on Form 5330. Routine uses of this information include giving it to the Department of Justice for civil and criminal litigation, and cities, states, and the District of Columbia for use in administering their tax laws.
If the transaction has been corrected, complete columns a through e.
A trust described in section 501 c 22. Schedule H. An employer or multiemployer plan liable for the tax under section 4980F for failure to give notice of a significant reduction in the rate of future benefit accrual. A Coverdell education savings account described in section 530. Qualified plan, Section 4972. Nondeductible employer contributions, Schedule A. Column e.
Section 4980 imposes an excise tax on an employer reversion of qualified plan assets to an employer. A disqualified person who engages in a prohibited transaction must file a separate Form 5330 to report the excise tax due under section 4975 for each tax year.Cardi B - Money (Official Audio)
Correction period, Correcting certain prohibited transactions. Generally, section 204 h notice must be provided at least 45 days before the effective date of the section 204 h amendment.
Required disclosure, Lines 17—19. Also see section 4975 c 2 for certain other transactions or classes of transactions that may become exempt. The plan administrator fails to give section 204 h notice to 100 AIs for 60 days, and to 50 of those AIs for an additional 30 days. Enter the amount if any of the aggregate unpaid minimum required contributions or in the case of a multiemployer plan, an accumulated funding deficiency as defined in section 431 a or section 418B if a multiemployer plan in reorganization.
Line 4. If approved, you may be granted an extension of up to 6 months after the normal due date of Form 5330.