On January 15, 2025, the Internal Revenue Service (IRS) issued a reminder to businesses of the upcoming January 31 deadline for filing wage statements and certain information returns for tax year 2024.

Key Deadline:

Employers must file the following forms by January 31:

• Form W-2, Wage and Tax Statement, and Form W-3, Transmittal of Wage and Tax Statements, with the Social Security Administration.
• Form 1099-NEC, Nonemployee Compensation, with the IRS.

Employers must also furnish copies of these forms to employees and contractors by January 31.

Delivery Options:

Employers have three options to deliver Form W-2 to employees:

• Hand Delivery: Consider asking employees to sign and date an acknowledgment of receipt.  Notify employees in advance of distribution dates and locations.  If unable to hand-deliver all W-2s by January 31, plan to mail any remaining forms.
• Mail: Forms must be properly addressed and postmarked by January 31.
• Electronic Delivery: Follow IRS Publication 15-A guidelines, which include obtaining the employee’s consent and providing instructions regarding withdrawing consent and obtaining a paper copy.

Undeliverable W-2s:

If a W-2 is returned, employers should follow these steps:

• Do not open the envelope.  Retain a copy of the post-marked and sealed envelope as evidence of sending the W-2.
• Contact the employee immediately to confirm the address.  For former employees, use alternative contact methods like phone or email.
• Update the employee’s address and resend the original envelope in a new envelope.
• If unable to reach the former employee, document all efforts.  Keep unclaimed W-2s for at least four years as required by IRS regulations.

Replacement W-2s:

Employers must provide a replacement W-2 upon receipt of an employee request.  Businesses may charge a nominal administrative fee but should consider waiving fees if the original was never received.

E-Filing Requirements:

The IRS encourages businesses to file electronically.  For businesses with 10 or more submissions, electronic filing is mandatory.

Extensions:

Employers may request a 30-day extension to file Form W-2 or certain information returns using Form 8809.  Requests must be submitted by January 31 or by the due date of the returns being requested.  Note that extensions are not automatically approved and do not apply to furnishing forms to employees, which requires a separate request to the IRS.

For additional help, please refer to the IRS Forms, Instructions and Publications Search Tool or consult your tax professional for specific questions.

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