What This Notice Means
The IRS denied your request to extend the time to file Form 5330, Return of Excise Taxes Related to Employee Benefit Plans. The problem: your Form 8868 didn't state a reason why you need the extension.
The request wasn't late. It was incomplete. That may still be fixable.
What to Do
If the return due date hasn't passed: file a corrected Form 8868 that states your reason, or file Form 5330 itself, by the return due date.
If the due date has passed: complete, sign, and file Form 5330 and pay any taxes owed immediately. A Form 5330 filed after the due date is considered late, and late filing or late payment penalties may apply.
Check the date today. The answer to which path you're on decides everything.
Stating a Reason
Give a specific, honest reason why you need more time. A missing reason is all it took to get this request denied.
If Penalties Apply
If you end up filing late, file and pay first. Then you can ask the IRS to remove the penalties if you had reasonable cause. Keep the records that show what happened.
Check Your Filing Requirement
The IRS retirement plan resources explain the filing requirements for your organization and general information on employee benefit plans.
Questions
The IRS has a phone line for employee plan questions, with personal assistance on weekdays. You can authorize a representative to deal with the IRS for you using Form 2848.
Next Year
Sign Form 8868, include the reason you need an extension, and mail it on or before the due date of your return.
If your Form 5330 extension was denied and you need help with the filing or penalties, call us at (813) 229-7100.