Form 5500-EZ: What It Is and How to File It

If you sponsor a solo 401(k) (also called a one-participant 401(k)), you may eventually run into a filing requirement that feels surprisingly “big plan” for a small business: Form 5500-EZ. The good news is that most solo plan filings are manageable if you know (1) when you must file and (2) exactly what information you need before you start.

Below is a plain-English guide to what Form 5500-EZ is, who needs to file it, and step-by-step instructions geared toward a solo 401(k) plan administrator.

What is Form 5500-EZ?

Form 5500-EZ is an annual information return used by certain retirement plans to report basic details to the IRS, such as plan characteristics, participant count, and plan asset values. It’s commonly used by one-participant plans (like solo 401(k)s) and certain foreign plans.

It’s part of the broader “5500” family of filings. If you want a high-level overview of the overall 5500 landscape (including larger-plan filings), see our guide: What is a Form 5500?.

Who needs to file Form 5500-EZ (and when)?

In general, a solo 401(k) (one-participant plan) must file Form 5500-EZ when plan assets reach the IRS filing threshold. The most common trigger is:

• Plan assets exceed $250,000 at the end of the plan year.

• Final plan year filing: you generally file for the year the plan is terminated and assets are distributed, even if assets are under $250,000.

For official instructions and the most current thresholds and rules, reference IRS resources for Form 5500-EZ and its instructions on IRS.gov. You can also review Department of Labor background on Form 5500 filings via the Employee Benefits Security Administration (EBSA) at DOL.gov/EBSA.

Important note: Many solo 401(k) plans file Form 5500-EZ with the IRS rather than the DOL’s EFAST2 system used for many other 5500 filings. Always confirm the correct filing method for your plan and year using the current IRS instructions.

Form 5500-EZ vs. “regular” Form 5500 (and why it matters)

Plan sponsors often ask whether they should file Form 5500-EZ or a different 5500 form. The answer depends on plan type and eligibility. Solo plans typically use 5500-EZ when eligible, while many multi-participant plans file Form 5500 (or 5500-SF) through EFAST2.

If your plan grows and you’re unsure about the right filing path, it may be time to get help from a professional. See: How To Hire A Retirement Plan Advisor and browse 401(k) financial advisors who work with plan sponsors.

Step-by-step: How a solo 401(k) plan administrator can file Form 5500-EZ

These steps are designed for a typical one-participant/solo 401(k) plan. Before you start, set aside uninterrupted time and gather your year-end records.

Step 1: Confirm you actually need to file this year

1. Confirm your plan is a one-participant plan (generally you and your spouse, if applicable, and no other eligible employees with account balances).

2. Check whether end-of-year plan assets exceed $250,000, or whether this is a final plan year (plan termination/distribution year).

3. Confirm the plan year end date (often 12/31 for calendar-year plans).

Step 2: Gather the data you’ll need (before you touch the form)

Having clean numbers up front prevents most filing errors. Collect:

• Plan information: plan name, plan number (often 001), plan sponsor EIN, business address, and plan year beginning/ending dates.

• Participant count: for a solo plan, this is usually 1 (or 2 if spouse participates).

• Year-end asset value: total plan assets at the end of the year (from your custodian statements).

• Beginning-of-year asset value: total plan assets at the beginning of the year (prior year ending value).

• Contributions and rollovers: employee deferrals, employer contributions, rollovers in (if any).

• Distributions: any distributions/rollovers out during the year.

If you also file a broader 5500 in other contexts, be mindful that larger plans may require additional compliance items. For example, plans that hit the “large plan” threshold may need an audit. For background, see What Is a 401(k) Audit and When Do I Need One? and our checklist What Is Needed for a 401(k) Audit and Where Do I Find It?. (Most solo 401(k)s do not require an audit, but it’s helpful context as your plan grows.)

Step 3: Download the current Form 5500-EZ and instructions

1. Go to IRS.gov and search for “Form 5500-EZ” and “Instructions for Form 5500-EZ.”

2. Verify you’re using the correct year’s form and instructions.

3. Read the “Who Must File” and “When To File” sections before completing the form.

Step 4: Complete the identifying information carefully

Most preventable issues happen here. Double-check:

• Employer Identification Number (EIN) (not your SSN)

• Plan sponsor name and address

• Plan name and plan number

• Plan year dates

Step 5: Fill in the financial sections using your year-end statements

Use your custodian’s year-end statement(s) and contribution/distribution records to complete asset and activity lines. Common best practices:

• Use consistent valuation (beginning-of-year should match last year’s ending value).

• Keep a backup file (PDF statements, contribution reports) that ties to each number you enter.

• If you’re unsure how to categorize an item, consult the IRS instructions or your tax professional.

Step 6: Review for common mistakes that trigger IRS follow-up

• Wrong EIN or plan number

• Plan year dates that don’t match your actual plan year

• Beginning assets that don’t match prior year ending assets

• Missing signature (if filing on paper)

• Filing the wrong form type for your plan

Step 7: File by the deadline (and document proof of filing)

In general, Form 5500-EZ is due by the last day of the 7th month after the plan year ends (for calendar-year plans, typically July 31), though extensions may be available depending on your situation and how you extend your business return. Confirm the due date rules in the current IRS instructions.

Keep copies of:

• The completed, signed form

• Any proof of submission/mailing or electronic confirmation (as applicable)

• Your supporting statements and workpapers

What happens if you file late or make a mistake?

Late or incorrect retirement plan filings can create unnecessary risk and cost. If you’re dealing with a late filing scenario for other types of 5500s (especially those tied to audit requirements), read: The High Cost of Non-Compliance: Penalties for Late or Rejected Form 5500 Audits. Even though solo 401(k) plans are different from large plans, the broader lesson is the same: timely, accurate filings matter.

Related compliance items solo plan sponsors shouldn’t overlook

Form 5500-EZ is only one part of a healthy compliance routine. Depending on your plan setup, you may also want to confirm:

• Fidelity bonding: Many ERISA-covered plans need an ERISA bond. Learn more in What Is An ERISA Bond And How To Buy One? and compare options via ERISA bond providers.

• Getting expert help when needed: You can also consult ERISA attorneys for plan document and compliance questions.

• Plan service providers: If you’re evaluating recordkeepers/TPAs, browse retirement plan providers.

Conclusion: Make Form 5500-EZ a repeatable yearly process

For many solo 401(k) plan administrators, Form 5500-EZ is straightforward once you’ve done it once: confirm you’re required to file, pull clean year-end numbers, complete the form using the IRS instructions, and keep solid documentation.

If you’re unsure whether you should be filing Form 5500-EZ, or you want a second set of eyes before you submit, consider working with a specialist. Start by reviewing how to hire a retirement plan advisor or connecting with experienced 401(k) financial advisors who regularly support plan sponsors.

Note: Your prompt mentioned “Form 5509.” For solo 401(k) plans, the common annual filing is Form 5500-EZ. If you meant a different form number, tell me what plan type you have and what you’re trying to report, and I can adjust the step-by-step instructions.