Employee Benefit Plan Filing Extension Procedures Updated

Starting in 2024, Form 5558 is no longer used to request an extension of time to file Form 5330, Return of Excise Taxes Related to Employee Benefit Plans. Instead, filers must use Form 8868, Application for Extension of Time To File an Exempt Organization Return or Excise Taxes Related to Employee Benefit Plans.

Form 5558 is still used to request an extension of time to file a Form 5500 series or Form 8955-SSA. The IRS had previously anticipated that Form 5558 could be filed electronically for the 2023 filing season. However, due to administrative issues involving the EFAST2 system, the IRS is postponing electronic filing of Form 5558 until January 1, 2025. Plan sponsors and administrators should continue to use a paper Form 5558 to request a one-time extension of time to file a Form 5500 series or Form 8955-SSA of up to 2� months after the normal due date.