When Are W-2s Due? Key Deadlines to Know

A Form W-2, Wage and Tax Statement, summarizes an employee’s annual wages and withheld taxes. It provides the necessary information for individuals and the Internal Revenue Service (IRS) to accurately file federal and state income tax returns. The W-2 details income, Social Security, and Medicare taxes withheld, along with other compensation and benefits.

Employer Deadlines for Providing W-2s to Employees

Employers must furnish Form W-2 to their employees by January 31st of the year following wage payment. If January 31st falls on a weekend or a legal holiday, the deadline is extended to the next business day.

Employers can provide W-2s to employees through mail or electronically. For electronic delivery, employers must first obtain employee consent, confirming the employee can access it electronically. Employers must also inform employees that a paper W-2 will be provided if consent for electronic delivery is not given or is withdrawn.

Employer Deadlines for Filing W-2s with Government Agencies

Employers must also file Form W-2 with the Social Security Administration (SSA) by January 31st of the year following wage payment. This deadline applies to both paper and electronic filing methods, as the SSA processes the wage information and then shares it with the IRS.

For employers filing 10 or more information returns, including W-2s, electronic filing is generally required unless a waiver is granted by the IRS. Electronic filing can be done through the SSA’s Business Services Online (BSO) portal. While the federal deadline for filing W-2s with the SSA is January 31st, employers should also be aware of specific state filing deadlines, as these can vary.

What to Do If You Don’t Receive Your W-2

If an employee does not receive their Form W-2 by January 31st, the first step is to contact the employer’s payroll or human resources department. Employees should allow a reasonable amount of time for mail delivery, typically until mid-February.

If the W-2 is still not received by the end of February after contacting the employer, the next step is to contact the IRS directly. The IRS can assist by contacting the employer on the employee’s behalf to request the missing form. When contacting the IRS, employees should be prepared to provide:

• Their name
• Address
• Social Security number
• The employer’s name, address, and phone number
• The dates of employment

If the W-2 cannot be obtained in time to file a tax return, employees can use Form 4852, Substitute for Form W-2, Wage and Tax Statement. This form allows employees to estimate their wages and withheld taxes using information from pay stubs or other records. Attaching Form 4852 to the tax return provides the IRS with the necessary income and withholding details.

Consequences of Missing W-2 Deadlines

Employers who fail to meet W-2 deadlines face penalties from the IRS. Penalties apply for both failing to provide W-2s to employees by the due date and for failing to file them with the SSA on time. The penalty amounts vary depending on how late the forms are furnished or filed and the size of the business.

Penalties for late filing or furnishing correct W-2s can range from $60 per form if filed within 30 days of the due date, increasing to $120 per form if filed more than 30 days late but by August 1st. If forms are filed after August 1st or not at all, the penalty can rise to $310 per form. These penalties are assessed per W-2, meaning fines can quickly accumulate for businesses with multiple employees.

If the IRS determines that the failure to file or furnish was due to intentional disregard of the filing requirements, higher penalties apply. In such cases, the penalty can be $630 per form, with no maximum limit. Intentional disregard implies a willful or deliberate failure to comply, with more severe financial consequences.