The IRS finally released the 2009 Form 8955-SSA used for reporting participants with deferred vested pension benefits. They also extended the deadline for the 2009 and 2010 filings from August 1, 2011 to January 17, 2012. Here are links to:
The form seems fairly straightforward to prepare, but here are a couple of items to keep in mind:
- For calendar year plans, both the 2009 and 2010 Forms 8955-SSA are now due by January 17, 2012. This deadline can NOT be extended using a Form 5558 filing.
- Information for both the 2009 and 2010 8955-SSA may be combined into a single 2009 8955-SSA filing.
- You can file the 8955-SSA either on paper or electronically. Electronic filings will need to use third-party software to prepare forms in the appropriate format for the IRS FIRE system.
- Line 8 of the Form 8955-SSA requires plan sponsors to certify that they have notified participants listed on the 8955-SSA that they have a deferred vested benefit. This requirement can be found in section 6057(e) of the Code.
Plan sponsors should get started with collecting the information to be disclosed on the 2009 and 2010 Forms 8955-SSA, and also make sure they have complied with the participant notification requirement. The IRS has a nice list of FAQ regarding the Form 8955-SSA filing requirements and deadlines.