A systematic analysis was conducted to explore the spin-state energetics of a series of 19 FeN4 complexes. The performance of a large number of multireference methods was assessed, highlighting the significant challenges associated with accurately describing the spin-state energetics of FeN4 complexes. Most multireference methods were found to be susceptible to errors originating from the reference CASSCF wavefunction, leading to an overstabilization of high-spin states. Nonetheless, a few multireference methods, namely, CASPT2/CC, DSRG-MRPT3, and LDSRG(2), demonstrated promising performance compared to the benchmark CCSD(T) method. Furthermore, our study revealed that FeN4 complexes having a quintet ground state are exceedingly rare. Accordingly, only one specific model (Fe(L2)) and one synthesized complex (Fe(OTBP)) have the quintet ground state among the studied complexes. This scarcity of quintet FeN4 complexes highlights the unique nature of these systems and raises intriguing questions regarding the factors influencing spin states, such as the size of the macrocycle cavity, the introduction of substituents, or the induction of out-of-plane deformation.