When Is the Deadline for Companies to Send W-2s?

A W-2 form, officially known as the Wage and Tax Statement, is an annual document employers furnish to employees and the Internal Revenue Service (IRS). This form reports an employee’s annual wages and the amount of taxes withheld from their paychecks. The W-2 form is used by individuals to prepare their federal, state, and local income tax returns.

Key Deadlines for Employers

The deadline for companies to provide W-2 forms to their employees is January 31 of the year following the tax year. This date applies to both paper and electronic delivery methods. For example, W-2 forms for the 2024 tax year must be sent to employees by January 31, 2025. If January 31 falls on a weekend or a legal holiday, the deadline shifts to the next business day.

Employers also face a similar deadline for submitting W-2 information to the Social Security Administration (SSA). Copy A of each W-2 form must be filed by January 31. This filing is accompanied by Form W-3, Transmittal of Wage and Tax Statements, which summarizes the total wages and taxes reported on all individual W-2 forms.

Employer Responsibilities for W-2 Issuance

Employers bear the responsibility of accurately preparing each W-2 form. This includes detailing an employee’s gross wages, taxable fringe benefits, and all amounts withheld for federal, state, and local income taxes. It also covers deductions for Social Security, Medicare, and other pre-tax contributions like those to a 401(k) plan.

After preparation, employers must distribute these forms to their employees by the established deadline. Delivery can occur through traditional mail or, with employee consent, via secure electronic means. Timely distribution allows employees sufficient time to complete their income tax filings.

Employee Actions for Delayed W-2s

If an employee has not received their W-2 form by late February or early March, they should first contact their employer. The employee should provide their current mailing address, email address, and verify their employment dates and estimated wages. Inquire if the W-2 was sent, and how.

If contacting the employer does not resolve the issue, or if the W-2 remains undelivered, the employee can contact the IRS for assistance. When contacting the IRS, individuals should have their employer’s name, address, and Employer Identification Number (EIN) available. They should also provide their employment dates and an estimate of their wages and federal income tax withheld. The IRS may then contact the employer directly to facilitate the W-2’s delivery.

Should the W-2 still not be received by the tax filing deadline, employees can use Form 4852, Substitute for Form W-2, Wage and Tax Statement, to file their tax return. This form allows individuals to estimate their wages and withheld taxes based on pay stubs or other financial records. Using this substitute form enables timely filing while awaiting the official W-2.

Employer Extensions and Penalties for Non-Compliance

Employers who anticipate difficulties in meeting the January 31 deadline can request a 30-day extension. This extension is obtained by filing Form 8809, Application for Extension of Time To File Information Returns, with the IRS. This form must be submitted by the original January 31 due date.

Failure to provide W-2s to employees or file them with the SSA by the deadline can result in IRS penalties. These penalties vary, ranging from $60 to $660 per form, depending on how late the forms are filed and the size of the business. Smaller penalties apply if forms are filed within 30 days of the due date, while higher penalties are assessed for filings made after August 1. If the IRS determines an employer intentionally disregarded the requirement to furnish or file correct W-2s, significantly higher penalties can be assessed, reaching up to $660 per form without limitation.