When Is the W-2 Deadline for Employers?

A Form W-2, also known as the Wage and Tax Statement, is a federal tax document employers must provide to each employee and submit to the Social Security Administration (SSA) annually. This form details an employee’s annual wages, salary, and other compensation, along with the amount of federal, state, and local taxes withheld from their paychecks. Employees use the W-2 to prepare and file their individual income tax returns. Employers rely on timely and accurate W-2 reporting to fulfill their federal tax obligations and ensure compliance with tax regulations.

Primary Federal Deadlines for W-2s

Employers must furnish employees with their W-2 forms by January 31st each year. This deadline also applies to employers for filing W-2 forms with the Social Security Administration (SSA).

When filing W-2 forms with the SSA, employers must also include Form W-3, Transmittal of Wage and Tax Statements. Form W-3 summarizes total wages, tips, and other compensation, along with total withheld taxes, for all employees. If January 31st falls on a weekend or legal holiday, the deadline extends to the next business day.

State-Specific W-2 Deadlines

While federal W-2 deadlines are consistent, state-specific requirements introduce additional filing obligations. Many states align their W-2 filing deadlines with the federal January 31st due date, requiring employers to submit W-2 copies to their state tax authorities by this date. Some states may have different deadlines, either earlier or later than the federal standard.

Employers operating in multiple states must verify their specific state’s requirements. This involves checking with the individual state’s tax agency for deadlines for submitting W-2s and related forms. Failure to comply with state-specific deadlines can result in penalties imposed by those states, separate from any federal penalties.

Requesting an Extension

Employers anticipating difficulty meeting the federal W-2 filing deadline with the Social Security Administration may request an extension using Form 8809. To request an extension for W-2s, employers must submit Form 8809, providing a valid reason for the delay and ensuring it is signed by an authorized party.

An extension to file W-2 forms with the SSA does not automatically extend the deadline for furnishing W-2s to employees. The IRS typically grants extensions for specific reasons, such as extraordinary circumstances or natural disasters. The extension request must be filed before the original January 31st due date.

Consequences of Missing Deadlines

Employers who fail to meet the W-2 deadlines can face federal penalties from the Internal Revenue Service (IRS). These penalties are outlined under Internal Revenue Code Section 6721 for failing to file correct information returns with the SSA and Internal Revenue Code Section 6722 for failing to furnish correct payee statements to employees. The penalty amounts are tiered, increasing based on how late the tax forms are filed or provided.

For instance, if forms are filed or furnished up to 30 days late, the initial penalty can be $60 per form. If the delay extends from 31 days up to August 1st, the penalty increases to $130 per form. For forms filed after August 1st or not filed at all, the penalty can reach $330 per form. These penalties are applied per W-2 form, meaning the financial costs can accumulate for employers with multiple employees. If the failure to file or furnish is due to intentional disregard of the requirements, a substantial penalty of $660 per form can be imposed, with no maximum limit on the total penalty amount.