IRS Solicits Feedback on Pension Plan Termination and Benefits Forms
Published Date: 4/14/2025
Notice
Summary
The IRS wants your thoughts on two important forms used by people who manage pension and retirement plans. Form 5310 helps plan sponsors check if their plan is officially qualified, while Form 6088 shows how much money participants can get from their plans. If you handle these plans, now’s the time to weigh in—your feedback could help make these forms easier and clearer!
Analyzed Economic Effects
3 provisions identified: 3 benefits, 0 costs, 0 mixed.
Who Can Use Form 5310
If you are a plan sponsor or plan administrator of a pension, profit-sharing, or other deferred compensation plan, you may use IRS Form 5310 to request an IRS determination letter about whether the plan is qualified or nonqualified under Internal Revenue Code section 401(a). Form 5310 cannot be used for multi-employer plans that are covered under Pension Benefit Guaranty Corporation insurance.
Form 6088 Shows Distributable Benefits
Form 6088 is used to show the amounts of distributable benefits to participants in an employee pension benefit plan. If you are a participant in a pension or similar plan, this form documents the amounts you can receive from the plan.
IRS Requests Public Comments on Forms
Under the Paperwork Reduction Act of 1995, the IRS is inviting the public and Federal agencies to comment on Forms 5310 and 6088 as part of its continuing effort to reduce paperwork and respondent burden. If you handle pension or retirement plans, the IRS is asking for your feedback on these information collections.
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