W3 Form

What is W3 Form?

Employers submit Form W-3 to the Internal Revenue Service (IRS) and the Social Security Administration in order to record the combined employee income. This form must be filled out and sent by employers who send employees more than one Form W-2 to list their total salary payments and withholding amounts. The total amounts are shown on the Form W-2 that employers who issue a single Form W-2 to one employee use to calculate the totals.

Every employer that must submit a Form W-2 must also submit a Form W-3. This applies to the majority of U.S. firms since Form W-2 is needed if an employee is paid more than $600 in earnings in a calendar year, regardless of whether the company withholds income or not.

When are W3 Forms Due?

By the end of January, you must mail or electronically submit Copy A of the Form(s) W-2 to the SSA together with the transmittal Form W-3, Transmittal of Wage, and Tax Statements. If your business has been terminated, special due dates apply.

The best way to send salary files is through the Business Services Online (or BSO) interface using your payroll tax software. Stricter guidelines on who is qualified to file by mail are being implemented by the IRS and the Social Security Administration as they phase out their paper copy option.

Where do I find my W3?

You can visit official website of IRS to find W2 and W3 forms. It also includes a scannable copy for the same. It also contains data on employer and information returns.

Also, See: State Tax Withholding Form