Form 5500 changes are coming. The IRS published the proposed Form 5500 for 2015, and new questions are embedded in the return:
- Trust information, including name of trust and its federal identification number, name of trustee and trustee phone number
- Plan document questions relating to whether the plan has been timely amended ,and a request for the date of the most recent determination letter (or opinion letter for plans using a volume submitter or prototype document)
- Question regarding any tax deductible dividends paid by a C corporation ESOP
- Question on whether the plan has incurred unrelated business taxable income
- 401(k) nondiscrimination testing questions
- Coverage testing questions