AAFCPAs would like to make clients aware that 2022 Form 8955-SSA late filing notices were sent erroneously due to an IRS programming error. Specifically, IRS notices were sent stating Form 8955-SSA were either incomplete or not received on time when in fact they were filed prior to the due date of July 31, 2023. The IRS further said it will be announcing in an upcoming newsletter that anyone who received the 8955-SSA late filing letter dated before September 1, 2023 can ignore it.
As background, ERISA retirement plans must file Form 8955-SSA annually with the IRS to report separated participants with a vested account balance in the plan. Information reported in the form is then shared with the Social Security Administration, which notifies affected individuals at retirement age that they may have retirement plan benefits available through prior employers.
If you have questions, please contact Sandy Keegan, MSA, Manager at 508.948.7036 or firstname.lastname@example.org, Shawn P. Huxley, CPA, MSA, Partner, Employee Benefit Plans at 774.512.9075 or email@example.com—or your AAFCPAs Partner.