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8955-SSA for ESOP's


Belgarath

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Not actually a 5500 question - is there any penalty relief program for late or non-filing of the 8955-SSA for ESOP plans, similar to the programs for late 5500 forms? 

Nope. 

22. Is there a delinquent filer program for late filers of Form 8955-SSA?

There is no delinquent filer program where only the Form 8955-SSA (or schedule SSA) is delinquent. Notice 2014-35, however, provides penalty relief in cases where the Form 5500 series return is also delinquent and the filer is eligible for and satisfies the requirements of the Department of Labor's Delinquent Filer Voluntary Compliance Program. See IRS Penalty Relief for DOL DFVC Filers of Late Annual Reports.

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P.S. it appears that no SSA reporting would be required for participants in pay status - e.g. receiving payments over 5 years, etc. - but I'm not aware of any dispensation for not filing the form if, for example, they must have a 5-year break in service, or reach age 65, etc..., or if a participant elects to postpone distributions.

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  • Belgarath changed the title to 8955-SSA for ESOP's

I agree I am not aware of any kind of relief if the 5500 was filed.   We typically report them on the next 8955-SSA and plan on arguing good faith compliance.  Not sure but about as good as it gets. 

I would add I don't think I have ever seen anyone actually fined for failing to file this form.

I also agree if a person has to wait 5 years to get paid they should be reported on the 8955-SSA and taken off once payments start.

Hope that helps.  

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