Due Date Postponed for Reporting and Payment of Certain Excise Taxes

The IRS and Treasury Department have postponed the due dates for reporting and paying excise taxes relating to certain delayed minimum required contributions to a single employer defined benefit plan due on January 1, 2021. The due dates are now January 15, 2021.

tax related actionsThis change overrides the due date provided on Form 5330 and the Form 5330 instructions for reporting and paying the Code Sec. 4971 excise taxes with respect to a minimum required contribution to which Section 3608(a) of the CARES Act applies. Section 3608(a)(1) of the CARES Act provides that the due date for paying any minimum required contribution under Internal Revenue Code Section 430(j) that would otherwise be due during calendar year 2020 is extended until Jan. 1, 2021.

The announcement does not apply to the due dates for other excise taxes required to be reported on Form 5330.

View the IRS announcement here.

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