Below, learn about late filing penalties for IRS Form 5500-EZ. These fees can impact taxpayers who don't file this tax document by the required date.

The Internal Revenue Code imposes a daily penalty for not filing returns in connection with pension, profit-sharing, etc., plans by the required due date. The penalty was increased from $25 to $250 a day, up to a maximum penalty of $150,000 (previously $15,000) per plan year for returns required to be filed after December 31, 2019. (IRC Sec 6652(e) as amended by Sec 403 of the SECURE Act) Experience has shown the penalties will be abated for reasonable cause.