IRS Late Filer Penalty Relief Program
Rev. Proc. 2015-32 program that lets one-participant plan filers cure late Form 5500-EZ at $500/return capped at $1,500/submission.
Definition
The IRS Late Filer Penalty Relief Program for Form 5500-EZ filers, established under Revenue Procedure 2015-32, lets one-participant plans settle delinquent EZ returns at $500 per delinquent return, capped at $1,500 per submission. The program is available only when the IRS has not yet contacted the sponsor about the delinquency. This is the EZ-equivalent of DFVCP (which excludes 5500-EZ).
Why it matters
For IRS Form 5500-EZ, this term helps decide which records, dates, values, or review questions belong in the packet.
How the tool uses it
Solo 5500 treats this as a review signal. The user enters the facts, checks the source-linked explanation, reviews the packet, and files through the official channel when the supported case still fits.
When to check the source
Check the official source when the answer depends on eligibility, late filing relief, official correspondence, valuation, or a fact you cannot verify from your own records.
Source and review date
Last reviewed: . Use the linked source for the official wording behind this term.
Official source: Rev. Proc. 2015-32