New Law Changes Extended Filing Deadlines for Forms 5500 and 8955-SSA

President Barack Obama signed into law legislation that impacts the due date for Forms 5500 and 8955-SSA for plan years beginning January 1, 2016 or later.  Under the Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 signed into law by the President on July 31, 2015, the Form 5558 Extension for Forms 5500 and 8955-SSA now allows Plan Sponsors an automatic 3 ½ months to file these returns.  This provides an additional month to the current 2 ½ extension of time to file Forms 5500 and 8955-SSA for employee benefit plans.

For any plan with a year end of December 31, 2016, the Form 5558 Extension will allow the corresponding Form 5500 to be filed by November 15, 2017.

Schneider Downs Wealth Management Advisors is proud to employ a team of retirement plan specialists who are ready to help any company with Form 5500 or Form 8955-SSA filing requirements.  Please contact Karl W. Kunkle (412-697-5401) for any retirement plan filing need.

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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.

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