ForumsSolo 401k – 5500-EZWhen to report voluntary contributions made this year for 2021?

Forums Solo 401k Solo 401k – 5500-EZ When to report voluntary contributions made this year for 2021?

  • When to report voluntary contributions made this year for 2021?

    1 Reply
  • Top SubjectSolo 401k – 5500-EZ
    Top ForumsSolo 401k – 5500-EZ

    Pratichi T.
    Top SubjectSolo 401k – 5500-EZ

    May 11, 2022 at 11:08 am

    I made some 2021 contributions in March 2022. Do I include them on line 7b of the 2021 Form 5500-EZ?(These were voluntary after-tax contributions. I know that they go on line 7b. The only question is whether they get reported now for year 2021 or next year?)

    Pratichi T.
  • George Blower

    Top SubjectSolo 401k,Solo 401k Contributions
    Top ForumsSolo 401k, Solo 401k Contributions

    George Blower

    George Blower

    Top SubjectSolo 401k,Solo 401k Contributions

    May 13, 2022 at 2:59 am

    Thank you for your post!

    Once the value of the total plan assets exceeds $250,000, a Form 5500-EZ is required and we prepare the Form 5500-EZ as part of our services for no additional charge (including so that the form can be filed electronically for the convenience of our clients).

    We send an online questionnaire to capture the information needed to prepare Form 5500-EZ.

    One item that needs to be reported is the amount of contributions made to the plan (including employee voluntary after-tax contributions) during the applicable calendar year. For example, if voluntary after-tax contributions were made during 2022 for the year 2021 such contributions will be reported on next year’s 2022 Form 5500-EZ and not on the 2021 Form 5500-EZ that would be prepared and filed this year.

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