Legal Alert: Form 5500 Schedule SSA Update


Section 6057 of the Internal Revenue Code requires reporting of plan participants who separate from service 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 to be disclosed online 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.

Please see full Alert below for more information.

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