IRS Form 8955-SSA, the Annual Registration Statement Identifying Separated Participants with Deferred Vested Benefits, originally had a due date of August 1, 2011. However the deadline is automatically extended to January 17, 2012. Plans can file Form 5558 to request a 2 ½ month extension to make the Form 5500 also due on the same date. For plan years ending between December 31, 2009 and March 31, 2011, the January 17 date becomes the new filing deadline for future years. No other extensions are available past that date.

Prior to the electronic filing mandate for Form 5500 in 2009, Form SSA (Social Security Administration) was a required attachment to Form 5500. This form provided information about plan participants who terminated but did not withdraw funds from the plan during the tax year and was used by the IRS and the SSA. Because of the public nature of Form 5500 with electronic filing and the EFAST2 Web site, Form SSA was dropped from use. Form 8955-SSA, available since June 18, 2011, is the replacement for form SSA and needs to be filed for the 2009 and 2010 tax years – due January 17, 2012. The form needs to be filed for plan participants who have terminated employment during the tax year, but have not received any vested distributions to date and must include account balance and identification information. For the January 17 deadline, the information for tax years 2009 and 2010 may be combined.

Form 8955-SSA can be filed in hard copy or via third-party software and the IRS’ FIRE system (Filing Information Returns Electronically.)

In the first year’s confusion about the ERISA Filing Acceptance System (EFAST2) for the Form 5500, many plan administrators are still updating systems and have filed for an extension (Form 5558). Unfortunately, some of the extension request forms were mistakenly denied. If you filed for an extension and received a denial letter, be sure and check with the IRS. All you have to do is mail a copy of the denial letter (it is labeled CP 216H) along with proof that your extension request was filed on time (mail receipt) to:

Ogden Accounts Management Center

EP Accounts Unit, Mail Stop 6270

Ogden, UT  84201

Another option is that you may have received a 5500 Late Return letter (labeled CP 213N). In that case, follow the instructions in the letter to dispute any errors.

There will be no reprieve for late filings of Form 5500’s for 403(b) plans.  The Department of Labor (DOL) decided not to grant a unilateral extension for Form 5500 and 5500-SF, which was due July 31, 2010. You can, however, file Form 5558 to get a 2 ½ month extension. The DOL believes that the current processes for obtaining an extension meet the needs of plans that need additional time to file. Retaining the deadline also avoids complex and costly system changes.

The American Benefits Council had requested that the deadline be moved to the later of December 31, 2010 or 9 ½ months after the end of the plan year. They were concerned about stress on companies filing a new form or filing for the first time. In addition, the need to file electronically using EFAST2’s Web filing or an EFAST2 vendor was complicated due to the recent completion of software implementation.

The July 31 deadline applies to a calendar year plan.