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8955-ssa code d Form: What You Should Know

Frequently asked questions regarding Form 8955-SSA | IRS What is Part III? — ERICA | ERICA Retirement Plan | ERICA 401(k) Blog The plan administrator completes Forms 8955-SSA using the code D for Part III, line 9, to report the following information about any participant terminated in a prior year and still in the plan :  Participant termination information. The following information is generally to be entered on Form 8955-SSA :  Participant terminations with vested amounts at the end of the reporting year (except the plan administrator's determination whether the participant terminated in a prior year and was still on the plan). The plan includes a provision for participants and beneficiaries who may not be paid a vested annuity benefit : If any participant terminated in a prior year and is still  beneficially entitled to a vested amount, the plan administrator should determine whether the participant terminated in a  qualified year, as defined in the plan's proxy statement. The participant or the participant's designated agent should  use Form 9068 on or before September 20th to report the participant's termination and vested amount. How Do I Complete Form 8955-SSA? — IRS The next three pages of the Form 8955-SSA contain instructions concerning how to complete the form: Part III. Enter the participant's termination information (line 9, column a) Part IV. Report the participant termination information (line 9, column b) Part V. Add a note to the participant termination line on the form (form 8955-SSA (see next item)) If there is a separation plan within the plan, refer to Part VI. What information must be entered on the Form 8955-SSA? — IRS The following information must be entered on the form to report participant terminations: Participant data to be submitted to ERICA. The following information, when collected and presented separately, must be submitted to ERICA :  The participant's name, Social Security/W-2 Number, and employment address.

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FAQ - Form 8955-ssa code d

Do I need to file 8955-SSA?
Who must file Form 8955-SSA? The plan sponsor must file Form 8955-SSA if it is required to file Form 5500 and has at least one participant who has terminated from employment that is still owed a vested benefit.
What is reported on form 8955-SSA?
In general, information about the deferred vested retirement benefit of a plan participant must be reported on the Form 8955-SSA filed for the plan year in which the participant completes the second of two consecutive 1-year breaks in service.
When did form 8955-SSA start?
Rolled out in 2023. Form 8955- SSA was required for the 2023 and 2023 plan years by the later of January 17, 2023. or the due date that applies to the plan's 2023 Form 5500 filing. It's currently required to be filed on paper because, to date, there is no SSA-approved software for electronic filing.
How do I file form 5500?
File online using EFAST2's web-based filing system or 22 File through an EFAST2-approved vendor. Detailed information on electronic filing is available on the EFAST2 website at www.efast.dol.gov. If you have questions and need help in completing this form, please call the IRS Help Desk at 877-829-5500.
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