Late form 8955

[Chippy]

If a plan is filing under the DFVCP for a 5500 that was not filed, does the 8955 come under that too, or will that penalty be separate? Seems like it is separate, but just wanted to ask. Would it be worse just to not file an 8955 this year, and file it for 2013 instead?

[12AX7]

You're correct that DFVC does not cover Form 8955-SSA. I'm not sure how deficiencies or late filings of that form get enforced. Nothing on the form indicates the year a participant separates from service.

[ESOP Guy]

You're correct that DFVC does not cover Form 8955-SSA. I'm not sure how deficiencies or late filings of that form get enforced. Nothing on the form indicates the year a participant separates from service.

How it gets enforced is if you were to file a 12/31/2012 8955 now the IRS wll send you a bill. We had it happen recently.

Yes, one solution would seem to be put all the people on a 2013 8955 and file it now. As you see there is no termination date listed on the 8955.