Businesses oftentimes have a pension or an arrangement to provide retired employees with regular income when they are no longer working. Pension benefit plans must generally file Form 5500, Annual Return/Report of Employee Benefit Plan, to report their financial condition, investments and operations. The IRS has announced that Form 5500, Schedule SSA has been replaced by Form 8955-SSA, Annual Registration Statement Identifying Separated Participants With Deferred Vested Benefits. Plan administrators must file this new form with the IRS and not through the EFAST2 filing system. 8955-SSA software at the site 1099fire.com makes it easy to file IRS Tax Form 8955-SSA by paper or electronically. Service bureau and mail house solutions are also available.
Paper Filing, Electronic filing, Service Bureau…
Form 8955-SSA can be filed by paper or electronically to the IRS. “Our 8955-SSA software makes it easy to import participant information from Excel, print and electronically file IRS Form 8955-SSA quickly and easily”, said Erich J. Ruth, Technical Support for 1099FIRE. A sample Excel template can be found on the website 1099fire.com which will import into the 8955-SSA software or technical support can guide you through the process of importing by phone or email.
If you file by paper, the plan sponsor and plan administrator must sign and date the form. You then mail the signed form to the IRS. Electronically filing does not require a signature at this time.
Electronic reporting of information returns eliminates the need to submit paper documents to the IRS. Electronically filed information may be submitted to the IRS 24 hours a day, 7 days a week. “Electronic filing of Form 8955-SSA is easy to do”, said Ruth and “The system is updated each year to reflect the format changes that are made by the IRS”. 1099FIRE software creates original, replacement, corrected and test files in the format required by the IRS for electronic transmission.
Filing information returns can be stressful. 1099FIRE can eliminate the stress of filing information returns by electronically filing in a timely manner and at an affordable price. 1099FIRE will beat any competitor price; attain a quote for any service from any competitor and 1099FIRE will provide same, if not more complete, service at a lower price.
Visit the 1099FIRE website at www.1099fire.com to stay up-to-date with important news, tax deadlines and the latest in compliance information.
The 2009 and 2010 filing of Form 8955-SSA was originally due August 1, 2011. The new due date for filing both the 2009 and 2010 Form 8955-SSA is the later of:
(i) the due date that would otherwise apply to the 2010 Form 8955-SSA; or
(ii) January 17, 2012.
A form 8955-SSA filing is due the last day of the seventh month following the last day of the plan year.
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