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5330 instructions 2022-2023 Form: What You Should Know
If you want to start an excise tax plan in December 2019, you have until December 2023 to file your return for the 2023 tax year. Otherwise, beginning January 1, 2020, employers must begin to report and pay excise taxes for any employee benefit plan they may have in effect (generally, for any year for which a plan is in effect at either the beginning or end of the tax year.) What this means is that any plans already in effect at the end of 2023 and beyond will continue to be reported for tax years 2018, 2019, and 2020. If you expect to use an excise tax plan that is effective on Jan 1, 2020, you will have until December 31, 2019, to file your return for that year. If you are unsure which excise tax year to use, there is a form that you can use for calculations. (In general, the earliest is 2019.) Excise tax return requirements will differ in the different tax years. For 2018, the first tax year that an employer may start to collect and pay excise taxes, you should file a new return for this tax year, including a new Form 5330, that has all information already supplied, when you file your 2023 return. See Form 5330 (PDF) For 2019, your 2023 return should contain a new Form 5330, that has all information for the 2023 tax year (and some form information for 2018. See Form 5330 (PDF) For 2020, your 2023 return should contain a new Form 5330, that has all information for the 2023 tax year, plus an additional form that has the information for the 2023 and 2023 tax years (or some form information for 2018. See Form 5330 (PDF) For More Information The IRS's 2023 schedule to report excise taxes (taxes paid on qualified retirement plans and employee benefit plans, including the excise tax for employee benefit plans) is now available online. For the 2023 excise tax year, employers will receive Form 5330-A (PDF). For details of excise tax forms and instructions, see Form 5330 (PDF). The 2023 excise tax form is available online. If you use this form to report a tax provision other than the excise tax for employee benefit plans, see Publication 15-A (PDF), Other Income Tax Provisions, for the schedule to report and pay the excise tax. The 2023 excise tax return is also available online.
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