Terminating a Keogh plan

[TRW]

How exactly do I terminate my wife's Keogh (money purchase) plan.  She retired in February in 2022 so she had to wait until we files our taxes this year (2023) to make her final contribution.  I know to use the 5500EZ which I have filed for many years.  We are in the process of rolling all the money into a regular IRA.  Do I have to file the 5500EZ for 2022 and then another one to terminate the plan (since the final contribution occurred in 2023)?  Can I file the final one now or do I have to wait until next year?  Can I file just one form now (the instructions say it can cover no more than 12 months)?  Any help is much appreciated!

[dmertz · Accepted solution]

If her plan is a calendar-year plan, yes, she'll need to file a final 2023 Form 5500-EZ because the plan was not terminated until 2023.  This has no effect on the 2022 Form 5500-EZ filing.

See Short Plan Year and Final Return in the instructions for Form 5500-EZ:
https://www.irs.gov/pub/irs-pdf/i5500ez.pdf

For the 2023 Form 5500-EZ, she can use the 2022 from modified as described in the instructions for a short tax year.