Retirement Tax Reporting for Plan Administrators, TPAs and Account Providers

Form 5500 is the full annual return for employee benefit plans. Form 5500-SF is the short version for small plans that meet its eligibility rules. Form 5500-EZ is for one-participant plans, meaning owners, partners and their spouses, and for certain foreign plans. Since 2021, a one-participant plan cannot use 5500-SF and must file 5500-EZ.

Learn more: E-file Form 5500, E-file Form 1099-R, E-file Form 5500-EZ.

Payers that distribute retirement money file it, including plan administrators, IRA custodians and insurers. It reports distributions from pensions, annuities, IRAs, profit-sharing plans and insurance contracts, including rollovers and Roth conversions. Each participant receives a copy to use on their own tax return. The IRS sets reporting thresholds, so confirm current requirements each filing season.

IRA trustees and issuers file Form 5498 for each account participant. It reports IRA contributions, rollovers and the account’s fair market value. The 5498 series also covers HSAs and MSAs (5498-SA), Coverdell ESAs (5498-ESA) and ABLE accounts (5498-QA). Deadlines differ from 1099-R, so check current due dates each year.

Yes. Use the CSV template, Smart Upload or the API to prepare and validate thousands of returns in one batch workflow, and fix errors before anything is transmitted. 1099 returns include federal and state filing, and participant copies can be mailed or made available online. Plan returns and participant returns file from the same account.

Returns are checked against IRS business rules before filing, and TIN Matching verifies participant names and TINs on 1099 forms so mismatches are flagged early. Plan returns include guided prompts for plan characteristic codes and compliance questions. If a return is still rejected, retransmission costs nothing extra, and you get status updates by email.

Yes for 1099 forms, including 1099-R: TaxBandits files with the IRS and applicable states from one workflow. The 5500 series is filed electronically through EFAST2 instead, and the 5498 series is filed with the IRS. Where a state does not accept electronic filing, you can download the completed form and file it yourself.

Yes. Form 5558 gives an automatic 2½-month extension for Form 5500, 5500-SF and 5500-EZ, with no explanation required. Enter the plan name and number, choose the form to extend, and submit. TaxBandits transmits the request electronically through EFAST2 and confirms receipt, so nothing needs to be printed or mailed.

Learn more: E-file Form 5558.

The plan sponsor or administrator signs with their own EFAST2 credentials. If you file on a client’s behalf, you can request those credentials through a secure link, or upload a wet-signed copy of the form. Signature requirements for other 5500-series forms follow the IRS and Department of Labor instructions.

Yes. TaxBandits supports multiple EINs in one account, so TPAs, trustees and administrators can manage every plan sponsor and client from one account. Role-based access keeps each team in its own data, each client’s returns stay separate, and secure links let plan sponsors review and sign their own returns.

Yes for 1099-R and 1099-Q. The API lets you create, validate, file and track returns directly from your systems, with postal mailing of recipient copies available. You can also collect W-9 forms and validate TINs through the same integration, without re-keying data.

Learn more: TaxBandits API documentation.

TaxBandits is SOC 2 Type II certified and encrypts data in transit and at rest, including SSNs and account details. You can add multi-factor authentication to every account, use role-based access so each team sees only its own plans and returns, and review activity logs for internal audit.

Learn more: TaxBandits security practices