When Is a W-2 Due? Key Deadlines for Employers

Form W-2, officially known as the Wage and Tax Statement, is a tax document employers use to report wages paid to employees and taxes withheld from those wages. This form is important for both employees, who need it to accurately file their individual income tax returns, and the Internal Revenue Service (IRS), which uses the information to track tax obligations and ensure compliance. Employers must complete a W-2 for each employee who receives compensation.

Key W-2 Deadlines

Employers face a deadline of January 31 each year to both provide W-2 forms to their employees and file copies with the Social Security Administration (SSA). This deadline applies to the W-2 (Copy A) and the accompanying Form W-3, Transmittal of Wage and Tax Statements, which summarizes all W-2s filed.

The January 31 deadline holds true regardless of whether an employer files on paper or electronically. If this date falls on a weekend or a legal holiday, the deadline automatically shifts to the next business day. Employers should aim to submit these forms promptly to allow employees sufficient time to prepare their personal tax returns.

Requesting Extensions

Employers who anticipate difficulty meeting the W-2 filing deadline with the SSA may request an extension of time. This is done by submitting IRS Form 8809. Filing Form 8809 can grant an automatic 30-day extension to file the W-2s with the SSA.

This extension only applies to filing with the government; it does not extend the deadline for furnishing W-2 forms to employees. Extensions are not automatic for W-2s and are granted for specific reasons, such as catastrophic events or a business’s first year of operation. Form 8809 must be submitted by the original January 31 deadline.

Consequences of Non-Compliance

Failing to meet the W-2 deadlines can lead to various penalties for employers. Penalties apply for both not furnishing forms to employees on time and not filing forms with the SSA by the deadline. The amount of the penalty generally depends on how late the forms are provided or filed and the size of the business.

For instance, penalties can range from $60 to $330 per form if filed or furnished late, with higher penalties, potentially $660 per form, for intentional disregard of the filing requirements. These penalties are assessed per form, meaning a large number of affected employees can result in substantial fines.

If an employee does not receive their W-2 form by the January 31 deadline, the first step is to contact the employer directly to request it. If the W-2 is still not received by mid-February, the employee can then contact the IRS at 800-829-1040 for assistance. The IRS may then contact the employer to request the missing W-2 and can provide the employee with Form 4852, Substitute for Form W-2, which allows them to estimate their wages and withheld taxes to file their return.