When Is the Last Day for W2 Forms to Be Sent Out?
Understand the critical W2 form deadlines, employer compliance, and employee recourse for accurate wage reporting.
A W-2 form, or Wage and Tax Statement, is an IRS tax document employers use to report an employee’s annual wages and taxes withheld. It details income, Social Security, and Medicare taxes paid throughout the year for federal and state income tax purposes. Employers must furnish W-2 forms to employees by a standard deadline, providing a summary of earnings and deductions for tax filings.
The Standard Reporting Deadline
The deadline for employers to furnish W-2 forms to employees is January 31st each year. This applies to physical mailings and electronic forms. If January 31st falls on a weekend or legal holiday, the deadline shifts to the next business day. This timeframe allows employees approximately two months to prepare their individual income tax returns before the April 15th tax filing deadline.
Employers must also file Copy A of the W-2 forms with the Social Security Administration (SSA) by January 31st. The SSA uses this information to track employees’ earnings and ensure proper Social Security and Medicare benefits are recorded.
Employer Requirements for W-2 Issuance
Employers are responsible for issuing W-2 forms accurately and on time. Physical mail is an acceptable delivery method, but forms must be postmarked by the January 31st deadline with a correct mailing address. For electronic delivery, employers must obtain explicit consent from each employee, ensuring access to the statement in the provided electronic format. A paper W-2 must be provided if consent for electronic delivery is not given.
If an employer anticipates difficulty meeting the January 31st deadline for filing W-2s with the SSA, they can request an extension by filing Form 8809, “Application for Extension of Time to File Information Returns,” with the IRS. This form grants a 30-day extension for filing with the SSA, but it does not extend the deadline for furnishing W-2 forms to employees. Extensions are granted only under specific circumstances, such as natural disasters or serious illness.
Employee Steps for Missing W-2s
If an employee does not receive their W-2 form by the January 31st deadline, they should first contact their employer directly. Inquire about the form’s status and verify their mailing or email address in the employer’s records. Allow time for the employer to resend or issue the form after this inquiry.
If the employer fails to provide the W-2, the employee can contact the IRS for assistance. The IRS may require personal details, employer’s name and address, and an estimate of wages and taxes withheld, often found on a final pay stub. If the W-2 is not received by the April 15th tax filing deadline, an employee may use Form 4852, “Substitute for Form W-2, Wage and Tax Statement,” to estimate income and withholding for their tax return. Attaching Form 4852 allows for filing without the official W-2, though any refund might be delayed while the information is verified.
Consequences of Late W-2s
Employers who fail to furnish W-2 forms to employees or file them with the SSA by established deadlines face IRS penalties. These penalties are assessed per form and escalate based on how late the forms are provided or filed. For instance, penalties for filing within 30 days of the due date are $60 per form, increasing to $130 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 $330 per form. If the failure to file is intentional disregard of requirements, the penalty can be $660 per form, with no maximum limit. These financial consequences highlight the importance of timely and accurate W-2 issuance.