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IRS Form 5330: Line-by-Line
Presentor: Derrin Watson Recorded Date: 4/4/2013 Duration: 100 Min.

NOTICE: Are you a Form 5500 Workshop 2013 attendee?
If so, you receive complimentary access to the recording* of either this Web seminar or ERISA Recapture Accounts, Forfeiture Allocations and Lost Participants. Click here for details.
*Due to the inability to track participation, no CE letter is provided for recorded programs. ****************************************************************
This program was recorded during a live presentation on April 4, 2013.

IRS Form 5330: Line-by-Line
There is a wealth of penalty taxes which are reported on IRS Form 5330, with the most common, the prohibited transaction penalty tax, also being the most complex. In this seminar, you will see line-by line how to complete Form 5330 in typical situations, such as late deposits, late ADP/ACP corrections, nondeductible contributions, and failure to contribute. This is a practical, nuts-and-bolts training for one of the most common forms retirement plan practitioners must process.

Topics include

  • Taxes involved
  • Filing deadlines
  • Penalties for late filing
  • De minimis amounts
  • Prohibited transactions (including late deposit)
  • Interest rates
    • Multi-year transactions
    • Use of DOL calculator
  • Late distribution of ADP/ACP corrections
  • Nondeductible contributions
  • Late contribution of minimum funding
Prerequisites: There are no prerequisites or other advanced preparation required for this program. However, the speaker will assume attendees understand the basic operation of 401(k) plans.

Level: Intermediate

Instructional Delivery Method
Group – Internet-Based

S. Derrin Watson, J.D., APM
Recipient of ASPPA's 2006 Educator of the Year Award

Objectives: After attending the seminar, attendees should be able to:

  1. Correctly complete form 5330 for prohibited transactions and other situations
  2. Determine the filing deadlines
  3. Determine which taxes can be reported on a single form

Hardware System Requirements:

  • Windows 95, 98, NT 4.0, 2000, XP, Windows 7
  • Internet Explorer 4.01 or later, Netscape 4.08 or later, and set Internet browser to allow pop-up windows.
  • High-speed Internet connection.
  • Pentium 166+ MHz, 128MB RAM or more.
  • 1023 x 768 or higher display resolution.
  • Soundcard and Speakers.

Software Requirements:

Program related requests, questions, or concerns may be emailed to: