Small businesses can get IRS penalty relief for unfiled retirement plan returns.

• Position: IRS news

The IRS is encouraging eligible small businesses that did not file certain retirement plan returns to take advantage of a low-cost, penalty-relief program enabling them to quickly come back into compliance. The program is generally open to small businesses with plans covering a 100 percent owner or the partners in a business partnership, and the owner's or partner's spouse (but no other participants), and certain foreign plans. Those who have already been assessed a penalty for late filings are not eligible.

Small businesses that fail to file required annual retirement plan returns, usually Form 5500-EZ, can face...