2009 Form 8955-SSA Available!

On June 18, 2011, the IRS posted the 2009 Form 8955-SSA on its website.   The Form 8955-SSA is the successor to the Schedule SSA that previously was filed with the DOL along with rest of the Form 5500.  The Form 8955-SSA is where the benefits for terminated employees with a vested accrued benefit or vested account balance are collected for the Social Security Administration (‘SSA’).  The SSA uses this information to notify individuals that they may be entitled to benefit from a private retirement plan.

The unextended due date for both the 2009 and 2010 Form 8955-SSA is August 1, 2011.  This deadline is a little challenging for 401(k) TPAs and 401(k) providers because the Form 8955-SSA was just released.  The IRS is revising the Form 5558 so that employers can file for extensions for the Form 8955-SSA, but the revised Form 5558 is not yet available.

Nova  401(k) Associates has been waiting for the Form 8955-SSA to be released and has set a target date of July 15, 2011 to send our clients their combined 2009/2010 Form 8955-SSA.  We would like to minimize the number of clients who will not need to file for an extension for their Form 8955-SSA.