About 4,000 retirement plan sponsors received an erroneous penalty notice from the Internal Revenue Service in the past month because they filed a late or incomplete Form 8955-SSA.

The notices were dated between July 28 and Aug. 26, 2013, and alerted the plans that they had a balance due for incomplete or late penalties for the form, which is an annual registration statement identifying separated participants with deferred vested benefits to thousands of businesses.

The IRS said there was a programming issue at the agency that caused these plan sponsors to receive the notices, but that it has fixed the problem and informed the companies that received the notices in error.

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

  • Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.