Retirement Plan Updates - New Form 8955-SSA


By Gerald Nappi

If your company sponsors a retirement plan and the benefits are subject to vesting, you are required to report information relative to each plan participant with a deferred vested benefit. Prior to January 1, 2009, this was accomplished on Schedule SSA, Annual Registration Statement Identifying Separated Participants with Deferred Vested Benefits, an attachment to Form 5500, Annual Return/Report of Employee Benefit Plan.

The Internal Revenue Service (IRS), in coordination with the Social Security Administration, has developed Form 8955-SSA, a form to be filed with the IRS, as the replacement to the Schedule SSA of Form 5500. For plan years beginning on or after January 1, 2009, Form 8955-SSA, Annual Registration Statement Identifying Separated Participants with Deferred Vested Benefits, is designated as the replacement form for Schedule SSA of Form 5500.

In general, if a Form 8955-SSA is required to be filed for a plan year, it must be filed by the last day of the seventh month following the last day of the plan year, plus extensions. In light of the fact that the form has not been finalized or released as of yet, Form 8955-SSA for the 2009 and 2010 plan years will be due the later of (1) the due date that would apply for the filing of Form 8955-SSA for the 2010 plan year or (2) August 1, 2011.

For further information, please contact Gerald Nappi.

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