On June 21, 2011, the Internal Revenue Service (IRS) released the new 2009 Form 8955-SSA, Annual Registration Statement Identifying Separated Participants with Deferred Vested Benefits, and its instructions. The new form replaces the Schedule SSA, which was previously filed with the Form 5500.
The new Form 8955-SSA is intended to be used to report information about plan separated participants with deferred vested including those that:
- have separated from service;
- were reported as a deferred vested participant on another plan's filing if his or her benefits
- were transferred (other than in a rollover) to the plan during the covered period;
- were previously reported under the plan but have been paid out or are no longer entitled to those deferred vested benefits; or were previously reported under the plan but whose information is being corrected.
Information reported on Form 8955-SSA is provided to the Social Security Administration (SSA). The SSA provides the information to participants when they file for Social Security benefits.
The general filing due date is the last day of the seventh month following the last day of the plan year, plus extensions (similar to the annual Form 5500). However, the due date for filing the 2009 and 2010 Form 8955-SSA is the later of January 17, 2012 or the due date of the 2010 form. Information for the 2009 and 2010 plan years can be combined on one form.
Plan administrators must file Form 8955-SSA with the IRS and not through the EFAST2 filing system. EFAST2 filings are posted on the Internet and the Form 8955-SSA includes Social Security numbers. Due to privacy concerns, sensitive participant information cannot be posted on the Internet.
Note that the Form 8955-SSA is not required to be filed for a plan year if there is no information to report.