- Go to Screen 7, One-Participant Plan (5500-EZ/5500-SF).
- Under the section 5500-SF (Short Form Annual Return), select the box 5500-SF (MANDATORY)(Press F1 for help on generating this return).
- Fill out the applicable information related to the return in Screen 7.
According to the Form 5500-SF instructions, to be eligible to use the Short Form Annual Return/Report of Small Employee Business Plan, your plan must:
- Be a small plan (For example, it should generally have fewer than 100 participants at the beginning of the plan year),
- Meet the conditions for being exempt from the requirement that the plan's books and records be audited by an independent qualified public accountant (IQPA),
- Have 100% of its assets invested in certain secure investments with a readily determinable fair value,
- Hold no employer securities,
- Not be a multiemployer plan,
- Not be required to file a Form M-1, Report for MultipleEmployer Welfare Arrangements (MEWAs) and Certain Entities Claiming Exception (ECEs) for the plan year.