Form 8955-SSA Filing

[French]

According to the IRS website, it is my understanding that beginning with the 2014 Form 8955-SSA, the forms have to be filed electronically. It also says that you need to use software to create the proper format. In the past for the hard copy I submitted, the information was in the same format (page 2 and beyond) as appears in the 8955-SSA form on the IRS website. Do I still need to use the software?

[Tom Poje]

The instructions indicate:

A filer must file the 2014 Form 8955-SSA electronically if the filer is required to file 250 returns of any type during the calendar year that include the first day of the plan year. “Returns” for this purpose include information returns (for example, Form(s) W-2 and Form(s) 1099), income tax returns, employment tax returns (including quarterly Forms 941), and excise tax returns. If a filer is required to file a Form 8955-SSA electronically but does not, the filer is considered not to have filed the form even if a paper return is submitted.

there is an exception is for short plan years
The requirement to file the 2014 Form 8955-SSA electronically does not apply to certain short plan year filers even if they file more than 250 returns. The requirement does not apply to a 2014 Form 8955-SSA required to be filed before July 31, 2015 (not taking into account extensions). Thus, for example, if the plan has a short 2014 plan year ending October 31, 2014, and is required to file a 2014 Form 8955-SSA by May 31, 2015, the electronic filing requirement does not apply and the Form 8955-SSA may be filed on paper regardless of whether the filer files over 250 returns.
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Based on the instructions, if you < 250 of everything combined you file can get out of electronic filing.

[French]

Thanks for the information. We are an organization that would be subject to electronic filing as we generally have more than 250 separated participants with deferred benefits.

My question needs some clarification as it really relates to the actual filing process and software. For the past few years, we have been submitting a hard copy document in the proper format required by the IRS. Can we just upload that excel document through FIRE in lieu of using the software?

[Tom Poje]

I don't believe so, since the IRS 'approves' software vendors that can be used.

The notes from the software we use are as follows:

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. If the transmitter already uses FIRE for submitting other forms, an additional FIRE account is not required.

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by the way, Let's say I have one large plan with 300 separated participants.

Does that count as 1 return? I would say yes, I'm not filing 300 returns, so I don't think the count is based on number of participants.

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you could always contact the IRS at the following number

Contact the IRS Monday through Friday

•1-866-455-7438 Toll Free

[chc93]

Also, you should be able to upload the Excel file into one of the approved vendors software.

[French]

Does anyone use one of their retirement plan vendors to submit the form on their behalf?

[Tom Poje]

can't speak for others, we use ft William, for govt forms only