True or false; filing requirements for Form 5500-EZ apply only to multi-participant plans.

Form 5500-EZ is specifically used for one-participant plans, which means that the filing requirements are not limited to multi-participant plans. A one-participant plan is defined as a plan that is established for the benefit of a single participant and that participant’s spouse. This form must be filed by an employer that has established such a plan, and it is important for compliance with the Employee Retirement Income Security Act (ERISA) reporting requirements.

On the other hand, multi-participant plans, which indeed have their own Form 5500 filing requirements, do not use Form 5500-EZ for reporting. Therefore, stating that the filing requirements for Form 5500-EZ apply only to multi-participant plans is incorrect. Additionally, while certain thresholds regarding plan size or participant count can dictate the type of form that needs to be filed, Form 5500-EZ serves a distinct purpose that is not exclusive to the number of participants involved in a retirement plan.