September 17, 2015
On September 14, the Internal Revenue Service (IRS) issued relief procedures for plans otherwise required to electronically file the Form 8955-SSA, Annual Registration Statement Identifying Separated Participants with Deferred Vested Benefits. Under Revenue Procedure 2015-47, the plan administrator may apply for a waiver of the electronic filing requirement for a plan year due to “undue economic hardship.” The Revenue Procedure provides detailed information on the content of the waiver request as well as details on how to file it. The request must be filed no later than the due date (including extensions) for the Form 8955-SSA.
If you have questions about the new procedures, please contact your Sibson consultant or send us a note.
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