IRS Guidance Provides Penalty Relief and Establishes Pilot Program for Late Filers of Form 5500 | Practical Law
The Internal Revenue Service (IRS) issued Notice 2014-35 and Revenue Procedure 2014-32. Notice 2014-35 provides relief from certain IRS penalties for the late filing of a Form 5500 return. Revenue Procedure 2014-32 establishes a temporary relief program for the late filing of a Form 5500 return for non-Title I retirement plans.