IRS CP 403- Request for Information About Form 5500

IRS CP 403- Request for Information About Form 5500

IRS uses CP403 to notify you that you are listed as having an active employee plan with a filing requirement for the date of the notice. The IRS did not receive the Form 5500 or 5500-SF for that year, or the form had an incorrect Employer Identification Number (EIN), name, or plan number. The IRS sent notice CP403 to request the form be filed, or that corrections are taken by filling in the appropriate section of the notice.

Why was this notice sent?

These notices are sent to filers who did not file a Form 5500-series return for a particular plan year and our records indicate the plan is still active.

CP 406 notices are requests for a missing or non-filed Form 5500 or 5500-SF. They are not bills.

CP 403 is mailed to filers 20 months after the original due date of the return. This allows enough time for the Department of Labor to process timely filed returns. The CP 403 has a 30-day response requirement.
CP 406, the Final Notice, is mailed 12 weeks after the CP 403 if the IRS does not receive a response to the CP 403 by the response date. CP 406 also has a 30-day response date. Responses must be received within 30 days to prevent further account action.

What You Need to Do?

Review your records to determine if a Form 5500/5500-EZ/5500-SF was filed.
Review the copy of the filed return to ensure that the EIN, plan name and plan number on the copy of the return match the notice received.
If you filed your Form 5500 return within the last four weeks and used the name, EIN and plan number shown on the notice, then you may ignore the CP 403 notice. However, if you receive a CP 406 notice, you must respond by returning the CP 406 notice with Section I completed.

You must respond to a CP 403 or CP 406 notice within 30 days to prevent further account action.

What are your options?

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What is my first step?

If you received a letter or notice, a decision has to be made. Do you feel confident to handle this situation on your own? If it is a simple issue and you already know the answer, call or write them. If the issue is more complicated, you need to hire a Certified Tax Resolution Specialist. The IRS or State will take full advantage of your lack of knowledge and experience.

What is Your Next Step?

The next step is to determine if the notice was sent in error. Do you have an outstanding tax liability? Do you have unfiled or incomplete returns?

Is There a Time Limit?

Yes, each letter or notice from the IRS or State will indicate a date that you MUST to contact them by. If you need more time, call the number on the notice or letter and request an extension. DO NOT ALLOW the time to expire without contacting them or hiring a representative to contact them for you.

What You Don’t Want to Do!

What you don’t want to do is nothing. Your tax problems will only get worse if you ignore them. If you cannot pay, there are a number of potential solutions available to those who are otherwise in compliance. In compliance means having all tax returns filed and any balances paid or on a payment plan. If you have outstanding debts or unfiled returns, you need to get hire a Certified Tax Resolution Specialist.

Get Some Help

If you don’t know how to address the issue(s), have unfiled return/unpaid balances or just done feel confident, let the experts at Legacy Tax & Resolution Services represent you. Work with our team of Certified Tax Resolution Specialists to resolve your issue(s) quickly. Best of all, you don’t have to talk to the IRS or State; we can speak on your behalf.