What Is the Deadline for Employers to Send Out W-2?
Stay compliant with W-2 tax document deadlines. This guide covers employer obligations, potential date shifts, and the consequences of delays.
A Form W-2, the Wage and Tax Statement, is a tax document employers must provide to their employees and the Internal Revenue Service (IRS) each year. This form details an employee’s annual wages, tips, and other compensation, along with federal, state, and local taxes withheld from their paychecks. The W-2 is essential for employees to file their income tax returns. It also helps the IRS and Social Security Administration (SSA) track wages, withheld taxes, and ensure compliance with tax laws, including contributions to Social Security and Medicare.
Understanding the W-2 Deadline
The federal deadline for employers to furnish Form W-2 to their employees is January 31st of the year following the tax year. This deadline ensures employees have time to file their income tax returns before April 15th. Employers must also file copies of Form W-2 with the Social Security Administration (SSA) by this same January 31st deadline.
Employers also file Form W-3, the Transmittal of Wage and Tax Statements, with the SSA. Form W-3 summarizes total wages and tax withholdings for all employees, which the SSA uses to verify individual W-2 forms. This synchronized deadline for both employee furnishing and government filing allows government agencies to cross-reference reported income and withheld taxes effectively.
Factors Affecting the Deadline
While January 31st is the standard deadline, certain situations can alter it. If January 31st falls on a Saturday, Sunday, or a legal holiday, the deadline automatically shifts to the next business day.
Employers can request an extension to file Form W-2 with the Social Security Administration by submitting IRS Form 8809. This form generally grants a 30-day extension, though approval is not guaranteed and is typically for specific circumstances like natural disasters or serious illness. An approved extension for filing with the SSA does not extend the deadline for furnishing Form W-2 to employees.
For employees whose employment ends during the year, employers can furnish their W-2 anytime after termination, but no later than January 31st of the following year. If a terminated employee requests their W-2 earlier, the employer must provide it within 30 days of the request or final wage payment, whichever is later, provided this is before January 31st.
Consequences of Missing the Deadline
Employers face penalties for missing W-2 deadlines for both employees and the Social Security Administration. The IRS imposes tiered penalties that increase based on how late forms are provided or filed. Penalties for late or incorrect W-2s start at $60 per form if corrected within 30 days.
The penalty increases to $120 per form if corrected after 30 days but before August 1st, and to $310 per form if filed on or after August 1st or not at all. For intentional disregard of filing requirements, the penalty can be significantly higher, reaching $630 per form with no maximum limit. These penalties apply per W-2 form, accumulating substantially for businesses with many employees.
If an employee does not receive their W-2 by January 31st, they should first contact their employer. If the W-2 is not received by mid-February, the employee can contact the IRS for assistance, and the IRS may contact the employer. If the W-2 remains unavailable by the tax filing deadline, employees can use IRS Form 4852, Substitute for Form W-2, to estimate wages and withheld taxes from their final pay stub and file their return. If the actual W-2 arrives later with different information, the employee may need to file an amended return using Form 1040-X.