You don’t need the W-3 form if you are filing W-2s online. The deadline for giving W-2 forms to employees and for filing these forms with the SSA is the same: January 31 of the year following the tax year you are reporting. Since the date for giving W-2 forms to employees and filing with the Social Security Administration are the same.

When to get your W-2 forms to your employees?

Try to get W-2 forms to your employees earlier in January if you want to allow them some time to review the forms and alert you to any errors before you file the forms with the SSA. The IRS considers several different kinds of errors on W-2 and W-3 forms when determining penalties:

What’s the difference between a W-2 and W-3?

IRS Form W-2 is used by employers to report annual income and the amounts of withholding to employees and to the Social Security Administration. Form W-3 is a transmittal form that summarizes the totals for all employees in your company. It includes totals for all items on the W-2 form. You don’t need the W-3 form if you are filing W-2s online.

Are there penalties for not filing a W-2 form?

However, if you paper file your W-2 Forms you may be penalized for failing to include your W-3 Form. You may also face penalties for providing statements that are incomplete or inaccurate. You may be able to avoid penalties if you can show reasonable cause, which is either accepted or rejected by the IRS or SSA.

What to do if you make an error on a W-2 form?

Common errors on Form W-2 include incorrect names, Social Security numbers, or amounts. You can correct forms that you sent to employees and filed with the SSA. To create a corrected W-2 after filing, you need to use IRS Form W-2c, Corrected Wage and Tax Statements. You can use Form W-2c to correct a variety of errors on Form W-2, including:

Are there penalties for not filing correct W-2s?

Possible penalties for filing an incorrect W-2 Unfortunately, filing an amended form does not guarantee you’ll walk away penalty-free. You might be subject to penalties if you fail to file a Form W-2 with correct information by January 31. Penalty amounts depend on when you file a corrected W-2 form.

Where can I find the correct form W-2c?

To find specific Form W-2c instructions, consult the corrected W-2 instructions in the General Instructions for Forms W-2 and W-3. Again, file Form W-2c as soon as you realize there’s an error. You can send paper Forms W-2c or e-File with the Social Security Administration.