Erroneous IRS Form 8955-SSA Penalty Notices

Learn more about the CP 283-C penalty notices mistakenly sent out on timely filed Forms 8955-SSA.

On September 1, 2023, the Internal Revenue Service announced that a programming error led the agency to issue erroneous notices to plan sponsors regarding late or incomplete filing of Form 8955-SSA.

In a bulletin dated September 1, 2023 (view bulletin), the IRS indicated that CP 283-C penalty notices distributed by the agency may have been issued in error. The bulletin further advises plan sponsors that if Form 8955-SSA was timely filed, there is no need to respond to penalty notices dated prior to September 1, 2023.

If your company received an IRS penalty notice that is related to the filing of Form 8955-SSA and is dated prior to September 1, 2023, contact the service provider responsible for filing your retirement plan’s annual returns to confirm that the form (if applicable to the plan) was in fact filed on a timely basis. If the form was timely filed, then no response to the IRS penalty notice is required.

Schneider Downs Wealth Management Advisors, LP (SDWMA) is a registered investment adviser with the U.S. Securities and Exchange Commission (SEC). SDWMA provides fee-based investment management services and financial planning services, along with fee-based retirement advisory and consulting services. Material discussed is meant for informational purposes only, and it is not to be construed as investment, tax or legal advice. Please note that individual situations can vary. Therefore, this information should be relied upon when coordinated with individual professional advice. Registration with the SEC does not imply any level of skill or training.