Form 5558

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Form 5558

What is Form 5558?

Form 5558 is an IRS Form which is also known as “Application for Extension of Time to File Certain Employee Plan Returns”. Employers fill Form 5558 when they need more time to fill out some other forms. After filing a Form 5558, Internal Revenue Service can provide additional time up to 75 days so that employers can fill out,

  • Form 5500 - Annual Return/Report of Employee Benefit Plan
  • Form 5500-SF - Short Form Annual Return/Report of Small Employee Benefit Plan
  • Form 5500-EZ - Annual Return of One-Participant (Owners and Their Spouses) Retirement Plan
  • Form 8955-SSA - Annual Registration Statement Identifying Separated Participants With Deferred Vested Benefits
  • Form 5330 - Return of Excise Taxes Related to Employee Benefit Plans

Instructions while filling out Form 5558

Part I – Identification: This section requires either your name, the plan administrator or the plan sponsor, and the physical address. Also, it should include your social security number, the employer’s identification number (EIN), the plan name and number, and the plan year. In case if you aren’t a single employer, Part I should identify the plan sponsor and the employer’s EIN. If you don’t have an EIN for Part I then you need to apply for one by filling out the Form SS-4 and attaching it to Form 5558.

Part II – Extension of Time to File Form 5500 Series (or Form 8955-SSA): If you want to request for date extension to file this form then use this part of the form and also mention what your requested extension date is.

Note: This date cannot be later than the 15th day of the third month following the initial Form 5500 due date.

Part III – Extension of Time to File Form 5330: This section also requires you to request an extended due date for the 5330 Form, which shall be no later than six months after the initial due date. On line 5, explain why you’re requesting an extension. You must clearly describe the circumstances.