IRS Postponement of Deadlines
Tuesday, June 2, 2020 at 2:21PM
Banking Spectrum in Banking News, Compliance, Pension
IRS Forms 5498 reporting deadlines are postponed to August 31, 2020.
The deadlines applicable to any of the following acts that would have fallen on or after April 1, 2020 and before July 15, 2020 have been postponed until July 15, 2020:
- Simplified Employee Pension (SEP) and Savings Incentive Match Plan for Employees of Small Employers (SIMPLE) plan contributions
- Indirect rollovers from employer sponsored retirement plans to IRAs
- 2019 traditional IRA, Roth IRA, and HSA regular contributions -(from previous guidance)
- 2019 CESA regular contributions
- Rollovers between IRAs, between HSAs, and between CESAs
- 120-day rollover period for first-time home buyers
- Repayment of a Qualified Reservist Distribution
- Deadline to remove excess or unwanted IRA contributions
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