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Updated: August 14, 2023
If you have W-2 employees you’ve paid during the year 2022, you probably need to complete Form W-3, also commonly referred to as a Transmittal of Wage and Tax Statements with the Social Security Administration.
Who really needs to send in a W-3? How do you ensure you’ve filled it out completely? Read on to get all the answers and a downloadable PDF you can review and complete.
Form W-3 is used to share information from your employees’ annual W-2s with the Social Security Administration.
A W-3 is used to share all the information from your employees’ annual W-2s with the Social Security Administration. It serves as a summary sheet, providing the totals for the boxes on each employee’s Form W-2. It is important to keep in mind that it must be used by employers, even if only one W-2 is filed.
If you are filing W-2 forms for more than 250 employees (and therefore required to electronically submit them), a W-3 is not required.
To complete Form W-3, you will need the following:
Your W-3, along with the corresponding W-2s, needs to be filed by January 31, 2023.
Boxes A-H are for information about your business from the type of organization you are to your employer identification number (EIN) and even your address. Fill each of these in. You may also want to enter the name and contact information for any employee that is authorized to speak to the Social Security Administration should any questions come up along the way.
Next, you’ll fill out the numbered boxes:
Be sure to verify that the totals entered on your W-3 correspond with the totals from the W-2s you submitted. You’ll also want to double-check that the totals on your W-3 match those submitted on your 941, 943, or 944 forms throughout the year.
And that’s it!
If you’re using a full-service payroll service provider, both your W-2s and W-3 will probably be filled out automatically. Those businesses with 250 or more employees will need to file their W-2s electronically and will not need to complete Form W-3.
For additional instructions and information on Form W-3, visit the IRS website.
Please note all material in this article is for educational purposes only and does not constitute tax or legal advice. You should always contact a qualified tax, legal or financial professional, in your area for comprehensive tax or legal advice or if you’re unsure of your obligations.