Of what significance is March 31?

The forms were finalized but the filing instructions were only posted by the IRS on March 14.  If those instructions don't change anything that has already been programmed, Intuit will probably release the form for e-filing later this week or early next week.

Still no Form 5471.  I wish they would just make the form available and not worry about the IRS instructions, which are available on the IRS website.  

"I wish they would just make the form available and not worry about the IRS instructions, which are available on the IRS website.  "

You and me and a whole bunch of people.

Maybe IRS was waiting for the Tax Court to tell it that it could not assess penalties for failure to file a Form 5471.  See today's opinion in Alon Farhy, 160 TC 6.

"Respondent assessed penalties under section 6038(b) against
petitioner without statutory authority to do so. Accordingly, we hold
that respondent may not proceed with the collection of these penalties
from petitioner via the proposed levy."

Interesting argument and ruling.  Will see this going to the district court, I suppose.

At the end of the day, taxpayers who are delinquent don't have two legs to stand on when the statutory language is so clear, regardless of whether the IRS can administratively impose and collect the penalties.  I don't see how Edward M. Robbins, Jr. can pull a bunny out of his hat to defeat the imposition of the penalties.

Even if the IRS needs to pursue this through civil actions, it's ultimately a double edged sword that doesn't favor small taxpayers.