How to Complete W-2 and W-3 Forms for a Limited Liability Company

Owners of a limited liability company must fill out W-2 or W-3 forms to report employee wage and tax statements. The government has strict rules--limited liability companies must file and submit these employee tax returns, correctly and on time. The deadline for filing is the end of February, but if you file electronically it is March 31. Follow the steps below to learn more.

Instructions

Difficulty: Easy

Obtain Tax Documents and Information

1. Go to the IRS Web site to obtain the official forms. You can request them by mail or print the forms yourself from your computer (see the Resources section below).
2. Call (800) TAX-FORM to order the W-2 and W-3 forms. Limited liability companies use the same forms as other corporate structures. Request an instruction booklet as well.
3. Read all instructions on the forms before filling them out.

Complete W-2 and W-3 Forms for a Limited Liability Company

4. Keep good records of all employee information, and gather the necessary employee information for the W-2 form. Include each staff member's personal details, withholding information and, most importantly, Social Security number.
5. Convert the employee's tax information onto the W-2 form. Enter information including wages/tips, Social Security and Medicare withholding. Include all items indicated on the form. Get the assistance of a payroll accountant or bookkeeper to help complete the process.
6. Complete the W-3 form. Total the wages earned and taxes withheld for all the W-2 forms for your company.
7. File the W-2 and W-3 forms with the Social Security Administration online (see Resources below). If you prefer to mail these forms, address your return to the Social Security Administration, Data Operations Center, Wilkes-Barre, Pennsylvania 18769-0001.

Tips & Warnings

• Consider using the IRS Tax Products CD, which comes with forms, bulletins and helpful instructions to prepare your W-2 forms.
• Do not mail any reports to the Social Security Administration on cartridges or 3 1/2-inch diskettes, since they do not accept them.
• You will be subject to penalties if you fail to provide correct W-2 forms to your employees by the end of January or if you file late payments.