IRS Issues Guidance for Extensions of Form 8955-SSA

June 21, 2012 ( – Proposed regulations from the Internal Revenue Service (IRS) would add Form 8955-SSA to the list of forms covered by the income tax regulations on automatic extensions.

Form 8955-SSA, “Annual Registration Statement Identifying Separated Participants With Deferred Vested Benefits,” replaced the Schedule SSA included with the Form 5500 series return.  

The IRS explained that after the current version of the Form 5558, used to file for an extension of time for filing a Form 5500, was issued, they received several comments questioning the need for a signature to extend the time for filing Form 8955-SSA, particularly since a signature is not required to extend the time to file a Form 5500 series return. The commentators noted that, like its predecessor, the Schedule SSA, the Form 8955-SSA is generally prepared in conjunction with the preparation of a plan’s Form 5500.   

They also stated that a signature requirement for the Form 8955-SSA is likely to cause confusion and missed deadlines because of the different rule for the Form 5500.   

The proposed regulations would amend Sec.1.6081-11, relating to automatic extensions of time for filing certain employee plan returns, by adding the Form 8955-SSA to the list of forms that are covered by the automatic two and one-half-month extension that applies by filing Form 5558.   

The proposed regulations can be viewed, and comments can be made, here.