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Form 5500 EZ Regulatory Requirements and Retirement Plans for Self-Employed Individuals

  • AFSP
  • CPA (US)
  • EA
  • Tax Preparer
  • CTEC
  • CSA
Form 5500 EZ Regulatory Requirements and Retirement Plans for Self-Employed Individuals

1 Credit


Subject Area


Webinar Qualifies For

1 CPE credit of Taxes for all CPAs

1 CE credit of Federal Tax for Enrolled Agents ( IRS Approved : GEHNZ )

1 CE credit of Federal Tax Subjects for California Tax Professionals (CTEC Approved - 6273)

1 CE credit of Annual Filing Season program (AFSP)( IRS Approved : GEHNZ )

1 CPD credit (Verifiable) for CPA/PFS

1 CE credit for Certified Senior Advisor (CSA)

1 CE credit of Federal Tax for Maryland Tax Preparers

1 CE credit of Federal Tax for Oregon Tax Preparers

1 General Educational credit for Tax Professionals / Bookkeepers / Accountants

Course Description

A 2020 study conducted by the Freelancers Union and Upwork estimates that there are 57 million freelancers in the U.S., an increase from 53 million reported in 2014. According to the report, this represents more than 35% of the country's entire workforce.

The joys of self-employment are many, but so are the stressors. High among those is the need to plan for retirement entirely on your own. While this entrepreneurial spirit is to be applauded, less laudable is the fact that 30% of those who are self-employed save for retirement sporadically while 15% aren’t even saving at all.

That is a problem. If you are self-employed, you are busy but retirement savings must be a priority. You are in charge of creating a satisfying quality of life post-retirement. When it comes to building that life, the earlier you start, the better. Luckily, there are several retirement plans for those who are self-employed.

  • For self-employed workers, setting up a retirement plan is a do-it-yourself job.
  • There are four available plans tailored for the self-employed: one-participant 401(k), SEP IRA, SIMPLE IRA, and Keogh plan.
  • Health savings plans (HSAs) and traditional and Roth IRAs are two more supplemental options.

Form 5500-EZ is the designated form for plans with only one participant, such as where a single-owner business invests in a stand-alone retirement plan.

Form 5500 EZ is an important regulatory filing that can alert the IRS of plan errors with significant fines and penalties.  Form 5500 EZ is used by one-participant plans that are not subject to the requirements of ERISA and that are not eligible or choose not to file Form 5500 SF. The importance of this is sometimes-overlooked while filing and it results in occurrence of common errors.

This online CPE webinar will discuss the basic options for tax-deferred retirement plans and Form 5500 EZ regulatory requirements for self-employed individuals, plan sponsors and retirement plan service providers.

Key topics covered in this online CPE/CE webinar:

  • What are the different plans for self-employed individuals and how they work?
  • What are the reporting requirements for retirement and health welfare plans?
  • What are the requirements for filing Form 5500 EZ?
  • What are the penalties associated with the failure to file Form 5500 EZ?

Learning Objectives

  • To discuss the basic retirement plan options available for self-employed individuals, plan sponsors and retirement plan service providers including 401(k)/profit sharing plans, cash balance plans and IRA-based retirement plans.
  • To be familiar with Form 5500 EZ and the related filing requirements.
  • To recognize the important deadlines related to retirement plans for self-employed individuals including correction for errors and missed deadlines.

Who Should Attend?

  • Bookkeepers & Accountants & Tax Preparers
  • Certified Public Accountant
  • Certified Senior Advisor
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Maryland Tax Preparers
  • Oregon Tax Preparers
  • Senior Accountant
  • Tax Accountant (Industry)
  • Tax Attorney
  • Tax Director (Industry)
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Tax Professionals
  • Tax Pros
  • Young CPA