Posted 11/3/11

ENROLLED RETIREMENT PLAN AGENTS DON'T NEED PTIN

The IRS has announced that enrolled retirement plan agents will not need to get a PTIN or renew their existing PTINs if they prepare only Form 5300 or 5500 series returns. These forms are on the list of types of form preparation exempt from the PTIN filing requirement. The IRS is taking this action because of comments it received from enrolled retirement plan agents that most of them prepare only forms in the 5300 or 5500 series. The IRS intends to amend Circular 230 to remove the PTIN requirement for these agents. Note that enrolled retirement plan agents still must get a PTIN if they prepare or assist in preparing for compensation a tax return or claim for refund.

Click here for the full-text of Notice 2011-91.