In Announcement 2011-21, the IRS announced that Form 8955-SSA, a stand- alone form to be filed with the IRS, is the successor to the Schedule SSA (Form 5500). Form 8955-SSA is used to report terminated participants with deferred vested benefits.
For 2009 and 2010 plan years, the Form 8955-SSA is due the later of the due date for filing the 2010 Form 5500 or August 1, 2011.
Form 8955-SSA is expected to be available shortly. The IRS has also developed a voluntary electronic filing system for filing the Form 8955-SSA which will be ready to accept filings when the form becomes available.
Extensions can be obtained by filing Form 5558, Application for Extension of Time To File Certain Employee Plan Returns. The IRS is revising Form 5558 and expects it to be available soon
We will let you know as soon as the Form is available. You may want to check our new blog periodically for quick updates on compliance issues.
Note: all links are active as of the date of issuance of this ErisaALERT.
Disclaimer: This material is for the sole purpose of providing general information and does not under any circumstances constitute legal advice and should not be used as a substitute for legal advice. You should seek the advice of counsel when applying the requirements to your plan. For more information on this ErisaALERT contact us by phone at 610-524-5351 and ask for Mary Andersen or 973-994-7539 and ask for Theresa Borzelli.
