Learn more about the latest ESG updates from the SEC. ...
This site uses cookies to ensure that we give you the best user experience. Cookies assist in navigation, analyzing traffic and in our marketing efforts as described in our Privacy Policy.
Learn more about the CP 283-C penalty notices mistakenly sent out on timely filed Forms 8955-SSA.
On September 1, 2023, the Internal Revenue Service announced that a programming error led the agency to issue erroneous notices to plan sponsors regarding late or incomplete filing of Form 8955-SSA.
In a bulletin dated September 1, 2023 (view bulletin), the IRS indicated that CP 283-C penalty notices distributed by the agency may have been issued in error. The bulletin further advises plan sponsors that if Form 8955-SSA was timely filed, there is no need to respond to penalty notices dated prior to September 1, 2023.
If your company received an IRS penalty notice that is related to the filing of Form 8955-SSA and is dated prior to September 1, 2023, contact the service provider responsible for filing your retirement plan’s annual returns to confirm that the form (if applicable to the plan) was in fact filed on a timely basis. If the form was timely filed, then no response to the IRS penalty notice is required.
Schneider Downs Wealth Management Advisors, LP (SDWMA) is a registered investment adviser with the U.S. Securities and Exchange Commission (SEC). SDWMA provides fee-based investment management services and financial planning services, along with fee-based retirement advisory and consulting services. Material discussed is meant for informational purposes only, and it is not to be construed as investment, tax or legal advice. Please note that individual situations can vary. Therefore, this information should be relied upon when coordinated with individual professional advice. Registration with the SEC does not imply any level of skill or training.
We’d love to hear from you. Drop us a note, and we’ll respond to you as quickly as possible.
Ask us
[email protected]
p:412.261.3644
f:412.261.4876
[email protected]
p:614.621.4060
f:614.621.4062
[email protected]
p:571.380.9003