SSA Releases 2018 W-2C Specifications

The SSA has released its 2018 W-2C Specifications. There are a number of changes from the previous revision:

• Record Changes
  • A new Box 12 Code GG money field, Originally Reported and Correct Income from Qualified Equity Grants Under Section 83, has been added to the:
    • RCO (Employee Optional) Record in positions 233-243, 244-254
    • RCU (Total Optional) Record in positions 311-325, 326-340
  • A new Box 12 Code HH money field, Originally Reported and Correct Aggregate Deferrals Under Section 83 Elections as of the Close of the Calendar Year, has been added to the:
    • RCO (Employee Optional) Record in positions 255-265, 266-276
    • RCU (Total Optional) Record in positions 341-355, 356-370
  • RCT Position 71-85 (Totally Originally Reported Social Security Wages), and 206-220 (Total Correct Social Security Tips) has new instructions:
    • If the Employer’s Correct Employment Code is H (Household) and the tax year is 1994 or later, this field must be zero or equal to or greater than the annual Household minimum for the tax year being reported
  • Other Changes
    • The Social Security Wage Base for tax year 2018 is $128,400.
    • The employer and employee tax rate for Social Security will be withheld at 6.2 percent (up to $7,960.80).
    • The 2018 Social Security and Medicare coverage threshold for Household wages is $2,100.
    • New additions to “Money Fields That Are Maintained by SSA on an Employee’s Earnings Record:
      • Simple Retirement Account
      • Aggregate Deferrals Under Section 83Elections as of the Close of the Calendar Year
    • New Addition to Money Fields Not Maintained by SSA:
      • Income from Qualified Equity Grants Under Section 83
    • New Section 2.1.2 “RCE (Employer) Record Reporting for 2678 Agents, 3504 Agents and Common Paymasters”

To view the W-2C Specifications, please click here.