What form is used to report deferred vested benefits to the IRS and the Social Security Administration?

The form used to report deferred vested benefits to the IRS and the Social Security Administration is Form 8955-SSA. This form is specifically designed for reporting information about separated participants with deferred vested benefits in retirement plans. It serves to notify the IRS and the Social Security Administration of individuals who have been vested in a plan but are no longer active participants and have not yet begun to receive their benefits. This reporting is crucial for ensuring that both the IRS and the Social Security Administration maintain accurate records of participants' benefits, which can affect future retirement income and social security calculations.

Form 5500 generally reports the financial condition, investments, and operations of employee benefit plans but is not focused specifically on deferred vested benefits. Similarly, Form 990 is used by tax-exempt organizations to provide information on their programs and finances and does not pertain to retirement plan participant reporting. Form 941 is primarily for reporting income taxes, Social Security tax, and Medicare tax withheld from employee's paychecks and is not used for reporting deferred vested benefits. Thus, Form 8955-SSA is the appropriate and specific form for this purpose.