Final Regulations Published on Automatic Extension of Time to File Certain Information Returns

Published in the August 3, 2018, Federal Register are final regulations providing rules on the automatic and non-automatic extensions of time to file certain information returns. Initially proposed in August 2015, the regulations sought to remove the automatic 30-day extension—obtained by filing Form 8809, Application for Extension of Time to File Information Returns—of time to file the Form W-2 series (excluding Form W-2G, Certain Gambling Winnings), replacing it with an additional, non-automatic 30-day extension. This non-automatic extension would require filers to submit requests for the extension to the IRS, subject to approval (whereas filing Form 8809 results in an automatic extension). The final regulations expand the list of forms subject to the updated non-automatic extensions to include forms reporting nonemployee compensation (i.e., Form 1099-MISC, Miscellaneous Income).

Forms Retaining Automatic Extension

Forms retaining the automatic extension include Form 1042-S, Foreign Person’s U.S. Source Income Subject to Withholding, forms that report employee compensation in the Form 1099 series (including Form 1099-R, Distributions from Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc.), and forms in the Form 5498 series (including Form 5498, IRA Contribution Information). The final regulations are effective as of August 3.

Following is the complete list of forms mentioned in the final regulations and whether they are allowed the automatic extension.

Automatic 30-day extension retained

Form W-2G

Form 1042-S

Form 1094-C

Form 1095-B

Form 1095-C

Form 3921

Form 3922

Form 8027

Form 1097 series

Form 1098 series

Form 1099 series (for forms reporting employee compensation)

Form 5498 series

 

Non-automatic extension

1099-MISC (reporting of nonemployee compensation)

Form W-2 series (excluding Form W-2G)