Step 1 of 5 · Who owes the tax
Form 5330 — Section E: Failure to give a §204(h) notice
The $100-a-day tax for each applicable individual who was not told, in time, that a plan amendment would significantly reduce the rate of future benefit accrual.
This return reports Section E taxes only.
A Form 5330 may report the taxes of one section. If you also owe an excise tax from another section, it has its own due date and needs its own Form 5330 — start a second one from the section list.
Due: The last day of the month following the month in which the failure occurred.
Who owes the tax
Form 5330 is filed by the person or entity liable for the excise tax — which is not always the plan or its sponsor. Give the EIN for an entity, or the SSN if an individual owes the tax.