The Internal Revenue Service, on March 3, 2011, indicated in Announcement 2011-21 that Form 8955-SSA, Annual Registration Statement Identifying Separated Participants With Deferred Vested Benefits, will replace Schedule SSA. The new form is expected to become available shortly.

Section 6057(a) of the Internal Revenue Code requires the plan administrator of a plan that is subject to the Employee Retirement Income Security Act of 1974 (ERISA) to report certain information relating to plan participants who terminate employment with a right to a deferred vested benefit. The form for filing these reports has been the Schedule SSA (Form 5500), Annual Registration Statement for Deferred Vested Participants. When the new EFAST-2 electronic filing system for Forms 5500 went into effect—for 2009 returns—the Schedule SSA was eliminated. The information previously contained on Schedule SSA (i.e., names, Social Security numbers, etc.) was not suitable for online disclosure with the newly filed Forms 5500. In its place, a new Form 8955-SSA is required to be filed with the IRS in order to comply with Code Section 6057(a).

The IRS, in coordination with the Social Security Administration, has developed Form 8955-SSA as a stand-alone form to be filed with the IRS for plan years beginning on or after January 1, 2009. Form 8955-SSA for the 2009 plan year is expected to be available for filing by plan administrators shortly, and the form for the 2010 plan year is being developed and expected to be available for filing later this year.

Form 8955-SSA generally must be filed by the last day of the seventh month following the last day of the plan year (plus extensions). For example, for calendar year plans, the 2011 Form 8955-SSA must be filed by July 31, 2012. However, to provide plan administrators additional time to complete the new Form 8955-SSA, the due date for the 2009 and 2010 plan years is the later of (1) the due date that generally applies for filing the Form 5500 for the applicable plan year, or (2) August 1, 2011. Thus, for 2009 plan years beginning on or before October 15, 2009, the Form 8955-SSA is not required to be filed before August 1, 2011. Plan administrators that are in the process of or have already filed a Schedule SSA with the IRS for the 2009 or 2010 plan year will be deemed to have satisfied the reporting requirements of Section 6057(a) if the filing is completed before April 20, 2011.

If you have any questions about the reporting requirements under Section 6057(a) or your organization’s compliance with the new Form 8955-SSA, please contact Brian M. Pinheiro at 215.864.8511 or 





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