The IRS Form 8955-SSA is used to report separated participants in an employer’s retirement plan who are entitled to deferred benefits. Starting with filings for the 2024 plan year, the IRS has mandated electronic filing for most employers. Here’s what employers need to know about this new requirement.
What Is Form 8955-SSA?
Form 8955-SSA (Annual Registration Statement Identifying Separated Participants With Deferred Vested Benefits) is filed with the IRS to report employees who:
- Have left the company but still have vested benefits in the retirement plan.
- Have not yet started receiving their benefits.
The IRS then shares this information with the Social Security Administration (SSA), which notifies participants when they become eligible to claim benefits.
New Electronic Filing Mandate
Who Must File Electronically?
- Employers who file 10 or more returns of any type (W-2s, 1099s, 5500s, etc.) in a calendar year must file Form 8955-SSA electronically.
- The 10-return threshold applies to the total number of forms filed, not just Form 8955-SSA.
- Small employers (fewer than 10 returns) may still file on paper.
How to File Electronically?
Employers and plan administrators can file Form 8955-SSA electronically using:
- IRS FIRE (Filing Information Returns Electronically) System – The IRS system for submitting electronic tax forms.
- 1099FIRE E-Filing Services – We can electronically file on your behalf. Just contact our main office at (480) 706-6474 to get started.