penalty for late 8955SSA?

[Jim Chad]

Does anyone know what the penalty is for a late 8955 SSA?

[Tom Poje]

yes

oh I suppose you want the answer as well.

It's actiually in the instructions

your first kid or if that is not an option then

$1/day/particpant not reported, max $5000 unless you have a good excuse...er reasonable cause.

$50 for not providing participant notice (instructions are specific - 'willful failure to furnish the statement')

[Jim Chad]

Thank you, Tom. And thanks for the chuckle, also.

[K2retire]

your first kid or if that is not an option then

That sounds like they pay me!!