IRS Form 8955-SSA (Tax Year 2024)
Annual Registration Statement Identifying Separated Participants with Deferred Vested Benefits
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IRS Form 8955-SSA
IRS Form 8955-SSA, titled Annual Registration Statement Identifying Separated Participants with Deferred Vested Benefits, is used by retirement plan sponsors
to report information about participants who have separated from employment but still have vested benefits in the plan. This form enables the IRS and Social
Security Administration (SSA) to track retirement benefits owed to participants even after they leave the company.
Who Files Form 8955-SSA:
Retirement plan administrators or sponsors (such as employers or trustees of 401(k) or pension plans) are responsible for filing Form
8955-SSA. It must be filed if the plan has any separated participants with vested benefits who have not yet received a distribution.
Who Receives Form 8955-SSA:
The IRS and Social Security Administration (SSA) both receive Form 8955-SSA directly from the plan administrator.
The information is not provided directly to individual plan participants, but it is used to notify them of their deferred vested benefits when they reach retirement age.
Purpose of Form 8955-SSA:
Ensures that employees who have separated from a company do not lose track of retirement benefits owed to them.
Enables the IRS and SSA to maintain records of vested retirement benefits that separated employees are due, even if they may not claim
those benefits until retirement age.
When to File Form 8955-SSA:
The due date for Form 8955-SSA aligns with the deadline for the plan’s Form 5500, generally seven months after the end of the plan year
(e.g., July 31 for calendar-year plans). Plan sponsors can file for an automatic extension if more time is needed, giving them an
additional 2.5 months to file (e.g., October 15 for calendar-year plans).
Outsourcing
We developed and sold 8955-SSA software for 10+ years. We currently offer outsourcing as an option for filing Form 8955-SSA. We can handle any quantity of
8955-SSA information returns.
Hire us and we can prepare and electronically file Form 8955-SSA within 0-1 days. You will receive confirmation of file status from the IRS within 2-5 days.
We begin by sending you a link where you can securely upload your excel file. We will import, convert to PDF and send the PDF to you to review. Once you approve
the PDF, we will electronically file to the IRS on your behalf using our transmitter control code and our IRS account.
Our sales office can be reached at (480) 706-6474. Stay compliant, reduce administrative costs and know that the job will get done right.
IRS Approved 8955-SSA Software Vendor...
We are an IRS Approved Form 8955-SSA Filer Software to the IRS FIRE System. Free technical support. Call or email anytime and we can answer almost any technical support
question that can arise. We can not give tax advice.
8955-SSA IRS Approved Software Vendor
New Paper/Electronic Filing Threshold...
IRS mandates electronic filing of 10 or more information returns. The new threshold is effective for information returns beginning tax year 2023. FIRE TCC holders who submitted their TCC application prior to September 26, 2021, must complete and submit a new application and verify their identity through ID.me, an IRS provider of sign-in services.
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