Section Overview

Section B of Part I in Form 5330 is used to report excise taxes related to pension plan funding failures, due by the 15th day of the 10th month after the end of the plan year. It includes taxes for failure to meet minimum funding standards, failure to correct funding deficiencies, failure to address liquidity shortfalls, and non-compliance with funding improvement or rehabilitation plans for plans in critical or endangered status. This section captures these funding-related issues and calculates the total excise tax for such non-compliance.

Section B1 of Part I in Form 5330 is used to report excise tax on excess fringe benefits provided to employees, due by the last day of the 7th month after the end of the calendar year in which the benefits were paid. It includes tax under Section 4977 on such excess benefits, and the amount is combined with other applicable Section B taxes to determine the total excise tax liability.

Section C of Part I in Form 5330 is used to report excise tax on excess contributions to certain retirement plans, due by the last day of the 15th month after the end of the plan year. It includes tax under Section 4979 for excess contributions, and the reported amount is carried forward to determine the total excise tax liability.

Section D of Part I in Form 5330 is used to report excise tax on the reversion of qualified plan assets to an employer, due by the last day of the month following the month in which the reversion occurred. It includes tax under Section 4980 on such reversions, and the amount is reported to determine the total excise tax liability.

Section E of Part I in Form 5330 is used to report excise tax for failure to provide timely notice of a significant reduction in future benefit accruals, due by the last day of the month following the month in which the failure occurred. It includes tax under Section 4980F for such notice failures, and the amount is reported to determine the total excise tax liability.

Section F of Part I in Form 5330 is used to report excise tax on prohibited tax shelter transactions involving entity managers, due on or before the 15th day of the 5th month following the close of the entity manager’s tax year in which the plan became a party to such a transaction. It includes tax under Section 4965, and the amount is reported to determine the total excise tax liability.