by The Moneta Retirement Team
We are aware that some of our plan sponsors have received letters from the IRS stating that the 12/31/22 Form 8955-SSA was not filed timely or was incomplete. The notice includes an assessment of the penalty for a late or incomplete filing.
This is an IRS error and not specific to you or your recordkeeping service provider.
If you receive this notice, please forward a copy to your recordkeeping service provider team along with any additional questions. Your recordkeeping service provider will be able to provide you with documentation showing the filing was accepted and is in good order. In addition, you should call the IRS at the number listed on the notice to request an abatement of the penalty and provide the backup documentation.
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Trademarks and copyrights of materials referenced herein are the property of their respective owners. Index returns reflect total return, assuming reinvestment of dividends and interest. The returns do not reflect the effect of taxes and/or fees that an investor would incur. Examples contained herein are for illustrative purposes only based on generic assumptions. Given the dynamic nature of the subject matter and the environment in which this communication was written, the information contained herein is subject to change. This is not an offer to sell or buy securities, nor does it represent any specific recommendation. You should consult with an appropriately credentialed professional before making any financial, investment, tax or legal decision. An index is an unmanaged portfolio of specified securities and does not reflect any initial or ongoing expenses nor can it be invested in directly. Past performance is not indicative of future returns. All investments are subject to a risk of loss. Diversification and strategic asset allocation do not assure profit or protect against loss in declining markets. These materials do not take into consideration your personal circumstances, financial or otherwise.
