What is a US 8955-SSA?
Form 8955-SSA is the Annual Registration Statement Identifying Separated Participants with Deferred Vested Benefits. In plain English, this form alerts the IRS to all participants who have terminated employment but are still owed a vested benefit.
Who gets reported on form 8955-SSA?
What information is required to be reported on the Form 8955-SSA? The form requires the plan sponsor to report any participant who terminated in a prior year and is still due a vested benefit from the plan as of the reporting date.
Where do I mail the 8955-SSA?
A one-time extension of time to file Form 8955-SSA may be obtained by filing Form 5558 on or before the normal due date (not including any extensions) of Form 8955-SSA. See the instructions for Form 5558. You must file Form 5558 with the Department of the Treasury, Internal Revenue Service Center, Ogden, UT 84201-0045.
How do I electronically file 8955 Social Security?
Form 8955-SSA is able to be filed electronically by either utilizing ftwilliam.com’s fulfillment service to submit your forms to the IRS FIRE site on your behalf, or you may create a batch and after obtaining a TCC Code, you may upload your files to the IRS FIRE site yourself.
When did Form 8955 SSA start?
Rolled out in 2011, Form 8955- SSA was required for the 2009 and 2010 plan years by the later of January 17, 2012, or the due date that applies to the plan’s 2010 Form 5500 filing. It’s currently required to be filed on paper because, to date, there is no SSA-approved software for electronic filing.
What is a deferred vested benefit?
Deferred Vested Pension means the monthly benefit for life payable under the Pension Plan to a Participant whose employment terminates before he is eligible for an Early Retirement Pension or Normal Retirement Pension and who has a vested entitlement to benefits under the Pension Plan.
What are deferred vested benefits?
Deferred Vested Participant – Generally, an employee who worked long enough to earn vested benefits in a pension plan, but who is no longer accruing pension benefits and is not yet receiving a retirement benefit. PBGC insures most defined benefit plans sponsored by private (non-governmental) employers.
What are deferred vested plan benefits?
Deferred Vested Participant – Generally, an employee who worked long enough to earn vested benefits in a pension plan, but who is no longer accruing pension benefits and is not yet receiving a retirement benefit. (See also Terminated Vested Participant.)
What is a form 5500?
Form 5500, Annual Return/Report of Employee Benefit Plan (form and instructions) The employer maintaining the plan or the plan administrator of a Pension or Welfare benefit plan covered by ERISA.
What is a typical vesting period?
The amount in which an employee is vested often increases gradually over a period of years until the employee is 100% vested. A common vesting period is three to five years.
Where can I get a form 8955 SSA?
You can access the IRS website at IRS.gov/formspubs or IRS.gov/orderforms to obtain a Form 8955-SSA: Download the fillable Form 8955-SSA. You may also obtain the Form 8955-SSA from a third-party service provider. 8. How do I submit the Form 8955-SSA to the IRS?
What does ERISA stand for in IRS Form 8955?
ERISA refers to the Employee Retirement Income Security Act of 1974. Future developments. For the latest information about developments related to Form 8955-SSA and its instructions, such as legislation enacted after they were published, go to IRS.gov/Form8955SSA.
Can you file Form 8955 with Form 5500?
DO NOT file Form 8955-SSA with Form 5500, Annual Return/Report of Employee Benefit Plan, or Form 5500-SF, Short Form Annual Return/Report of Small Employee Benefit Plan.
When to use special extension box on IRS Form 8955?
You must only use the “Special extension” box for extensions announced by the IRS, such as extensions for presidentially-declared disasters or for service in, or in support of, the Armed Forces of the United States in a combat zone. (See the instructions “Other Extensions of Time to File” for more information.) 4.