Deadline Extension Applies to Forms 5500 Due Before July 15, 2020
On April 9, 2020, the IRS issued Notice 2020-23 to extend key tax deadlines for individuals and businesses in response to the ongoing COVID-19 pandemic. IRS Notice 2020-23 extends the Form 5500 filing deadline for ERISA-covered retirement and welfare plans that have an original or extended filing deadline on or after April 1, 2020, and before July 15, 2020. These plans have until July 15, 2020, to file their Forms 5500.
This deadline extension is automatic, which means that plan sponsors do not have to have to call the IRS or file any extension forms or send letters or other documents to receive this relief. Additional filing extensions must be requested by using the appropriate extension form by July 15, 2020, but the extension may not go beyond the original or regulatory extension date.
IRS Notice 2020-23 does not extend the filing deadline for 2019 Form 5500 filings for calendar year plans, which are due on July 31, 2020.