Form W-3

What is Form W-3?

A W-3 Form is a document that employers use to report how much money they paid their employees and how much tax they took out. If an employer pays more than one employee, they must fill out and send this form to the IRS and Social Security Administration.

The W-3 form essentially totals all of the W-2 data employers submit in an overview document.

Does My Business Need to File a W-3 Form?

If a business files more than one W-2 in a year (including to the business's owner), it must also file a W-3 form. If a business is required to file one or more W-2 forms for employees, then they must also file a W-3 form with the Social Security Administration.

What Do I Need To Complete a W-3 Form?

Businesses need the following information to complete a W-3 form:

  • Employer name

  • Employer identification number (EIN)

  • Employer address

  • The total amount paid to all employees

  • Total federal income

  • All Social Security and Medicare taxes withheld from employees

  • The number of people employed

  • The total number of Forms W-2 filed with the W-3. 

When Do I File My Business's W-3 Form?

Employers must submit the W-3 form and the W-2 form every year by January 31st. This deadline applies to both paper and electronic filing. If January 31st is a weekend day or legal holiday, the deadline is extended to the next business day. 

Employers must also furnish their employees with copies B, C, and 2 of Form W-2 by January 31st. 

How Do I File My Business's W-3 Form?

Employers can file the W-3 form electronically through the Social Security Administration's (SSA) website. The IRS and the SSA are phasing out their paper copy method with stricter regulations. Copies of the W-3 are available on the IRS website for employers who want to file manually.

What Happens If I Fail to Submit Form W-3?

Employers who fail to file W-2 and W-3 forms by the deadline may face penalties. Therefore, employers need to ensure that they file the W-3 form and the W-2 form by the deadline to avoid penalties.

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