New Form 8955-SSA: Preparing for Compliance in 2011
Navigating the IRS Requirements for Plan Sponsor Data and E-Filing
Aug. 1, 2011 is IRS filing deadline for 2009 plan year form
Recording of a 90-minute CPE webinar with Q&A
This teleconference will provide accounting advisors with an analysis of compliance with and filing processes for Form 8955-SSA, given the IRS' versions and guidance to date.
- Form 8955-SSA background
- Several years in the making
- Part of transition to electronic filings on new EFAST2 platform
- Labor Department no longer would collect Form 5500 Schedule SSA information
- Details of Form 8955-SSA
- Draft version released by IRS in November 2010
- Plan sponsors to list data including:
- SSNs and deferred vested benefit amounts of separated participants still due benefits at time of filing
- Benefits for liabilities transferred into the plan during the plan year
- Delete data including:
- Deferred vested participants who are cashed out before filing
- Previously reported participants who are no longer entitled to deferred vested benefits
- Filing process
- E-filings to use IRS filing information returns electronically (FIRE) system
- Not through EFAST2 system
- Specs for FIRE process still awaited
The panel will explore these and other critical topics:
- Key aspects of the Form 8955-SSA version and instructions, and related guidance, released by the IRS.
- How Form 8955-SSA and IRS enforcement compare with Schedule SSA and Labor Department enforcement.
- Differences in the IRS' anticipated e-filing system vs. the Labor Department's standard filing process for Schedule SSA.
Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.
Tax Senior Associate, Compensation and Benefits Consulting
She works on compensation consulting and employee benefits compliance engagements. Before coming to the firm, she... | Read More
She works on compensation consulting and employee benefits compliance engagements. Before coming to the firm, she worked for two years auditing non-profits and private companies.Close
Senior Manager, Employee Benefits Services Group
She has more than 25 years experience in employee benefits, working on administration, recordkeeping, compliance and... | Read More
She has more than 25 years experience in employee benefits, working on administration, recordkeeping, compliance and government reporting for qualified retirement plans, as well as on reporting and compliance for health and welfare plans.Close
Senior Manager, ERISA Compliance and Consulting
She is attached to the firm's National Tax Practice and works on all aspects of qualified plan compliance, from... | Read More
She is attached to the firm's National Tax Practice and works on all aspects of qualified plan compliance, from compliance testing to plan audit coordination to review of administrative procedures and controls.Close
She has more than 20 years of pension plan design, consulting and administration experience, managing services for... | Read More
She has more than 20 years of pension plan design, consulting and administration experience, managing services for employer plans of all sizes. In her role as the firm’s retirement plan tax practice leader, she also works with clients on tax compliance issues.Close