Compensation Strategies Group, Ltd.
Nicholas Pension Consultants
Atlantic Pension Services Inc
Nova 401(k) Associates
The Retirement Plan Company (TRPC)/an ABG firm
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|Soliciting Employees' Social Security Numbers for ACA Information Reporting Requirements|
Sept. 11, 2015
"Many employers and health plans are sending SSN solicitations to comply with the 6055/6056 information reporting requirements.... [T]he SSN solicitation regulations do require the $50 penalty language to be included in a written solicitation, and therefore including such statement in the SSN solicitation letter is correct, regardless of whether the IRS in fact would apply the penalty. Further, if an employer or health plan excludes such statement from a SSN solicitation, the IRS could claim the SSN solicitation was not valid."
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