One will make it easier for administrators to use birthdates on forms when Social Security numbers are missing.

The IRS reminded account holders, and their beneficiaries, with employer-sponsored retirement plans and IRAs, of the upcoming Dec. 31 deadline — or face penalties.

Employees who start saving an additional $7,500 per year until age 67, while earning a modest 7% compounded annually, can add $250,000 to their retirement nest egg, says Ambassador Wealth Management’s Phill Battin.