Postponing Deadlines for Certain Time-Sensitive Actions

Post Date: 6/1/20
Last Updated: 6/1/20


Cross References
- Notice 2020-35

The IRS has postponed deadlines for certain time-sensitive actions on account of the COVID-19 emergency. The postponed deadlines apply to certain employment taxes, employee benefit plans, exempt organizations, IRAs, Coverdell education savings accounts, HSAs, and Archer MSAs. The IRS is also providing a temporary waiver of the requirement that Certified Professional Employer Organizations (CPEOs) file certain employment tax returns and their accompanying schedules on magnetic media.

The relief provided in Notice 2020-35 applies to time-sensitive actions that are otherwise due to be performed on or after March 30, 2020, and before July 15, 2020. The new deadline for these actions is generally July 15, 2020, unless a different revised deadline is specified in the notice.

Time-sensitive actions to which the deadline is postponed until July 15, 2020 include the following:
- Correction of employment tax reporting errors using the interest-free adjustment process under IRC sections 6205 and 6413,
- Application for a funding waiver under IRC section 412(c) for a defined benefit pension plan that is not a multiemployer plan,
- Actions described under IRC section 432 that are due to be performed with respect to a multi-employer defined benefit pension plan,
- Actions described under IRC section 433 that are due to be performed with respect to a CSEC plan,
- Interest and penalty for failure to file Form 5330, Return of Excise Taxes Related to Employee Benefit Plans, and payment of the associated excise taxes are disregarded,
- Certain actions with respect to IRC section 403(b) employee plans of tax exempt and government entities,
- Form 990-N electronic notice requirement (e-Postcard) for certain small exempt organizations,

- Time for commencing a suit for declaratory judgement under IRC section 7428, The due date is extended to August 31, 2020 for filing and furnishing the following forms:
- Form 5498, IRA Contribution Information,
- Form 5498-ESA, Coverdell ESA Contribution Information, and
- Form 5498-SA, HSA, Archer MSA, or Medicare Advantage MSA Information
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