IRS Issues Final Regulations For E-Filing Form 8955-SSA

Form 8955-SSA, "Annual Registration Statement Identifying Separated Participants with Deferred Vested Benefits," is used by plan sponsors to notify the Social Security Administration, via a filing made with the IRS, of participants who have separated from service and who haven't yet elected to start receiving benefits from their qualified plan(s).

Although many plan sponsors have opted to use the IRS's filing information returns electronically (FIRE) site to file these returns, paper filings were also accepted in the past. The IRS has clarified in final regulations (T.D. 9695) that Form 8955-SSA must be filed electronically (for filers who have at least 250 returns with the IRS during a calendar year) for plan years beginning on or after Jan. 1, 2014, but only for returns with a filing date on or after July 31, 2015 (not including extensions).