IRS Updates Procedure on E-Filing Exceptions for Forms 8955-SSA and 5500-EZ
Published September 13, 2023
The Internal Revenue Service (IRS) has issued Revenue Procedure 2023-31 addresses
hardship waiver procedures with respect to both Forms 8955-SSA (Annual
Registration Statement Identifying Separated Participants With Deferred
Vested Benefits) and 5500- EZ (Annual Return of a One Participant
(Owners/Partners and Their Spouses) Retirement Plan or a Foreign Plan),
and administrative exemption procedures with respect to Form 8955-SSA.
Under
the Taxpayers First Act (TFA) electronic filing regulations, the IRS
Commissioner may grant hardship waivers of the electronic filing
requirement with respect to both Forms 8955- SSA and 5500-EZ. However,
the Commissioner may provide an exemption from the electronic filing
requirement for the purpose of promoting effective and efficient tax
administration only with respect to Form 8955-SSA. Thus, this revenue
procedure addresses hardship waiver procedures with respect to both
Forms 8955-SSA and 5500- EZ, and administrative exemption procedures
with respect to Form 8955-SSA.
- For filings submitted with respect to plan years beginning on or after January 1, 2024, the procedures for seeking an undue hardship waiver of, or administrative exemption from, the electronic filing requirements for Form 8955-SSA generally will be available in the instructions to Form 8955-SSA, or in applicable IRS publications, forms, or other guidance, including postings to the IRS.gov website.
- For filings submitted with respect to plan years beginning on or after January 1, 2024, the procedures for seeking an undue economic hardship waiver of the electronic filing requirements for Form 5500-EZ generally will be available in the instructions to Form 5500-EZ, or in applicable IRS publications, forms, or other guidance, including postings to the IRS.gov website.