Welcome to 401k FedForms

401kFedForms

401kFedForms--A free online service for small businesses using the affordable, full-featured pc-based "run-it-yourself" 401(k) Easy (www.401k-easy.com) or the new, affordable, web-based version, 401(k) Easy Online (www.401k-easy-online.com).

The information contained in this website is for our run it yourself 401k customers. The website is designed to simplify your 401k related federal reporting by helping you quickly locate relevant information within your 401k software.

This website is designed so that you can easily print its information or use it while online, and use of this website is completely free of charge.

NOTE: This site is designed for optimal viewing within Internet Explorer; Netscape users might want to increase the viewing font size by choosing "Increase Font Size" from Netscape's View menu.

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Please note:
401(k) Pro, Inc. is not a tax advisor and should not be construed to be such. 401k FedForms is meant to simplify your 401k related federal reporting by pointing out where within your 401k software you can find certain requested information. 401k FedForms is not meant as a step-by-step instruction manual on completing your 401k related federal reporting materials nor is it meant to replace the instructions published by the IRS. Furthermore, 401k FedForms does not address any state 401k related regulations or reporting requirements, which in some cases differ from their federal counterparts. You or your tax advisor should check with your state's tax agency regarding its 401k regulations and reporting requirements.

Federal 401k-related reporting forms must be completed on the offcial IRS-issued forms because they are printed on special paper using special inks scannable by IRS computers. You cannot use the pdf versions contained for explanatory purposes in this website unless specifically noted herein.

You can download current (and past) sample Form 5500 and related Schedules directly from a US Department of Labor website. Please go to http://www.dol.gov/ebsa/5500main.html to access these downloadable sample forms. Unfortunately, the IRS will not accept filings on these sample downloadable forms, and requires the forms be ordered directly from the IRS, or picked up at an IRS field office. To order Form 5500 and related Schedules from the IRS, please go to www.irs.gov or call 1-800-TAX-FORMS (1-800-829-3676). Please allow eight weeks for delivery.

If you are ready to complete your 401k related federal reporting materials, click on "continue" below to move forward with 401k FedForms — and remember, 401k FedForms pertains ony to your 401k-related FEDERAL reporting requirements; you or your tax advisor should check with your state and local tax agencies for their 401k regulations and reporting requirements.

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How To Use This Guide

The purpose of this guide is to show you where within your 401k software and companion materials you can locate the information needed to complete your 401k-related federal reporting Forms and Schedules.

The first time within a particular IRS Form or Schedule that we reference a report or section of your run-it-yourself 401k plan administration software, we tell you how to get from the software's main menu to that particular report or software window.

From that point on within the same IRS Form or Schedule, we name the report or software window but not the path to it.

For example, the first time you need to review at your Year-End Auditor ’s Worksheet we note the path to take to get from the main menu to the worksheet (namely, Reports, Yearly 401k Activity Reports, Year End Auditor ’s Worksheet). From that point on within the same IRS Form or Schedule we leave off the parenthetical instructions.

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Instructions for each particular IRS Form or Schedule are presented in two formats:

Point-and-Click FedForms Instructions
Printable FedForms Instructions

Point-and-Click Instructions are for online use only. Clicking the highlighted areas of pictured IRS Forms opens a secondary window containing instructions for finding information within your 401k software for that particular section of the Form or Schedule.

Both 401k FedForms Point-and-Click Instructions and 401k FedForms Printable Instructions contain the same information and both show you samples of the IRS Form or Schedule, they just present the information in different formats.

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401k FedForms presents its information in two formats:

You can choose to view the "On-line "Point-and-Click" Fedform Instructions" section which allows you to click on any highlighted area of any IRS Form or Schedule pictured herein to call up the information on where within your 401k software to find the requested information.

You can choose to view "Printable Fedform" instructional pages. These pages contain only a small graphical representation of the particular IRS Form or Schedule but list all 401k FedForms instructions regarding that Form or Schedule on a single page. Because information is not "hidden" within popup windows, the Detail pages are recommended for user's who prefer to download and print the instructions rather than view them while online.

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If you used 401k FedForms last year and are curious what has changed within the IRS Forms and Schedules this year, here's a quick synopsis:

Form 945 (Annual Return of Withheld Income Tax) has been added to 401k FedForms.

Schedule I has a new item: line 4k.

Form 5500 has added code "2R" to its Pension Feature Codes for line 8; the new code is for plans that offer participant-directed brokerage accounts as an investment option.

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This guide is meant as a complement to, not a replacement for, published IRS instructions. 401k FedForms instructions are meant to simplify your federal reporting process by telling you where you can quickly locate pertinent information; 401k FedForms instructions are not meant to offer tax or financial advice.

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Determine the IRS Forms and Schedules You Need to File

Consult our 401k Related Federal Reporting Forms and Schedules (which will open up in its own window) to determine the IRS Forms and Schedules you need to file regarding your 401k plan and to see when each is due to the IRS.

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Except for Form 5558 Request for Extension to File, which you can print/download herein or from the IRS web site (see below for link), you must order your blank forms from the IRS.

To order your IRS Forms, go to www.irs.gov or call 1-800-TAX-FORMS.

Please allow eight weeks for delivery.

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Gather Needed Information From Your 401k Software

Five reports within your 401k plan administration software house the bulk of the information you will need in completing your 401k related IRS Forms and Schedules, and you might find it useful to print them out ahead of time. Following the name of each report is its location within your software.

Year-End Auditor ’s Worksheet (go to Reports, Yearly 401k Activity Reports, Year End Auditor's Worksheet)

Yearly 5500 Summary Worksheet (go to Reports, Yearly 401k Activity Reports, Yearly 5500 Summary Worksheet)

Current Loans — printed AFTER your December processing has been completed (go to Reports, Administrative Reports, Current Loans)

Year-to-Date ADP Test Corrections (go to Reports, Yearly 401k Activity Reports, Year-to-Date Activity Summary by Employee, choose the relevant Year, choose “ADP Test Correction ” as the Activity Type)

Year-to-Date Distributions (go to Reports, Yearly 401k Activity Reports, Year-to-Date Activity Summary by Employee, choose the relevant Year, choose “Distributions ” as the Activity Type)

You will also want your 401k Plan Adoption Agreement for some basic plan information. (This document, supplied to you at your plan ’s outset, should be in your files; it is not incorporated within your 401(k)software.)

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These instructions reference the following reports and documents from your 401k software and companion materials:

• Year-End Auditor's Worksheet

At the outset of the 401k FedForms instructions for each IRS Form or Schedule is a precise list of the reports you will need from your 401k software to complete the particular Form or Schedule. Some or all of the above are generally included in each list, as are additional items relevant only to the particular Form or Schedule.

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Complete the Relevant IRS Forms and Schedules

Suggestion: Bookmark a page interior, so that on your return visits to 401k FedForms you can skip all the introductory pages.

Your customized 401k plan administration software and companion materials house much of the information you need to complete your 401k related federal reporting materials.

401k FedForms can simplify your federal reporting. It explains the basic uses of each 401k related federal form and schedule and tells you where within your run-it-yourself 401k plan administration software to find much of the requested information.

Just click on the category below relevant to your plan's size to access 401k FedForms instructions for locating information within your run-it-yourself 401k plan administration software applicable to your 401k related IRS Forms and Schedules.

Go to…
FedForms Instructions for IRS Forms For Plans With Only 1-Participant*

FedForms Instructions for IRS Forms For Plans With 2 to 99 Participants*

FedForms Instructions for IRS Forms For Plans With 100 or Participants*

* All employees who are technically eligible to participate in your company's 401k plan because they meet the eligibility requirements indicated in the plan documents whether or not they choose to join the plan are considered "Participants" under federal regulations. As such, they must be counted when you are determining the number of participants covered by your company's 401(k).

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