Form 8955-SSA Update

The IRS/SSA Reporter newsletter (Fall 2010, page 2) provides some preliminary details regarding the new Form 8955-SSA which will be used by employer-sponsored retirement plans to report participants with deferred vested benefits. This new filing is effective for 2009 plan years and replaces the Form 5500 Schedule SSA. Some highlights from the newsletter:

  • There will be a special deadline for the 2009 plan year 8955-SSA filing, likely sometime in 2011.
  • The special deadline for the 2009 8955-SSA does not affect the regular 2009 Form 5500 filing deadlines.
  • The 8955-SSA can be filed either on paper with the Department of the Treasury, or electronically.
  • Electronic filings will use the IRS FIRE (Filing Information Returns Electronically) filing system. Note that this is NOT the same as the EFAST2 system used to file the Form 5500 electronically. The 8955-SSA will contain personal information for pension plan participants, and plan sponsors should be aware that anything filed through EFAST2 is published as a public disclosure on the internet.

Of course, plan sponsors should stay tuned as more information is released regarding the 2009 8955-SSA filing requirements.

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