Form 8955-SSA Frequently Asked Questions

The following is a list of frequently asked questions regarding Form 8955-SSA, a new form that must be filed annually by ERISA retirement plans.

When is the Plan Year 2009 and 2010 filing data due?

The Form 8955-SSA is to be used for Plan Year 2009 filings and thereafter. The due date for filing the 2009 and 2010 Forms 8955-SSA is the later of (1) January 17, 2012 or (2) the due date that generally applies for filing the Form 8955-SSA for the 2010 plan year. The January 17, 2012 due date may not be extended by filing the Form 5558 Extension typically associated with the Form 5500.

Future plan year filings will be due the same time the Form 5500 is due, the final day of the seventh month following the end of the plan year, although the two filings are independent of one another.
May I prepare one Form 8955-SSA covering both the 2009 and 2010 Plan Years?

Yes, you may prepare one Form 8955-SSA covering both 2009 and 2010 plan years. In that case, the 2010 reportable employees are treated as reported in 2009. Enter the beginning and ending date for the 2009 plan year on the Form 8955-SSA when combining information for the 2009 and 2010 plan years. For example, a plan that reports on a calendar year basis and combines information for the 2009 and 2010 plan years should enter January 1, 2009 as the beginning date and December 31, 2009 as the ending date.

For future filing years, you may not combine plan years. This provision is a one time only (2009 and 2010 plan years) allowance.
Must a plan administrator file a Form 8955-SSA for a year in which there is no reportable information to file?

No.
How do I get a copy of the Form 8955-SSA and the Form 8955-SSA Instructions?

There are three ways to get a Form 8955-SSA and the Form 8955-SSA Instructions:

  • Download the fillable Form 8955-SSA from the IRS Website.
  • Order a printed Form 8955-SSA from the IRS by calling 800-829-3676.
  • Obtain the Form 8955-SSA from your e-file provider. The IRS Website includes a list of approved providers.
How does the IRS electronic filing system work?

Form 8955-SSA can be submitted electronically using third-party software and the IRS’ Filing Information Returns Electronically (FIRE) system. Filers submitting Form 8955-SSA electronically through FIRE will need:

  • Software to create files in the proper format for filing electronically to the IRS.
  • A Transmitter Control Code (TCC) obtained by submitting Form 4419 (Application for Filing Information Returns Electronically). Note that if the transmitter already uses FIRE for submitting other forms, the transmitter will need to get an additional TCC used only for Form 8955-SSA.
  • A FIRE account to log into and use the FIRE system. Visit fire.irs.gov to create a FIRE account.
On the Form 8955-SSA, there is a signature block for both the Plan Administrator and the Plan Sponsor. If they are the same person, where do I sign?

If the Plan Administrator and the Plan Sponsor are the same person, only the Plan Administrator needs to sign the form.
Do I need to list a precise dollar amount on the Form 8955-SSA including cents?

No. You may round off cents to the nearest whole dollar.
As the Plan Administrator, once a participant begins receiving a benefit, will I ever have to report them on the Form 8955-SSA again?

Yes, when a participant stops receiving a benefit, but is still entitled to a deferred vested benefit under the plan, the participant becomes a deferred vested participant and should be reported.
On the Form 8955-SSA, for what purpose can I check the “Special extension” box?

You must only use the “Special extension” box for extensions such as presidentially-declared disasters or for service in, or in support of, the Armed Forces of the United States in a combat zone.
Line 8 of the Form 8955-SSA asks “Has the Plan Administrator provided an individual statement to each participant required to receive a statement?” What is the individual statement requirement?

The Plan Administrator must provide each participant required to be reported on the Form 8955-SSA a statement describing the deferred vested benefit to which the participant is entitled.
What information must be included in the individual statement?

The regulations indicate that the statement needs to include the following participant information from the SSA:

  1. The social security number of the participant. The SSN might be masked. For example, XXX-XX-1234.
  2. The participant's name.
  3. Type of annuity (lump sum, term certain annuity, life annuity, etc.).
  4. Type of payment (lump sum, annually, monthly, etc.).
  5. The total value of the participant’s account.
What is the deadline for providing the individual statement?

The Plan Administrator needs to provide the statement to the participant no later than date on which the plan is to file the Form 8955-SSA with the IRS (including extensions).
May a plan satisfy the individual statement requirement by providing an account statement and a copy of the Summary Plan Description?

Perhaps so, particularly for defined contribution plans like 401(k) and 403(b) plans. Participant-directed defined contribution plans must provide a participant account statement quarterly. Much of the required information is contained in the quarterly statement. The Summary Plan Description will typically contain the Automatic Form of Benefit (for example, a Joint and Survivor Annuity) and the payment frequency.
Can a plan use multiple forms (like an account statement and a Summary Plan Description) to satisfy the Form 8955-SSA individual statement requirement?

Nothing in the statute or the regulations discusses using multiple forms to satisfy the requirement. However, the IRS generally has been flexible in permitting plans to satisfy the plan documentation requirements with multiple documents.
How do I obtain a copy of the 2009 Form 8955-SSA along with the Instructions for Completion?

Both the Form 8955-SSA (fillable format) and the Form 8955-SSA Instructions (PDF) can be found by going to http://www.irs.gov/retirement/article/0,,id=238959,00.html.


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