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Official form guide
Form 940: 940
Form 940 is the Employer’s Annual Federal Unemployment (FUTA) Tax Return. Use it to report and pay FUTA tax for each calendar year you had employees subject to the tax.
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IRS Form 940 - 940
Form 940 is the Employer’s Annual Federal Unemployment (FUTA) Tax Return. Use it to report and pay FUTA tax for each calendar year you had employees subject to the tax.
Risk Radar
Scan points- 1A missing or incorrect FUTA payment can generate a $50 penalty per month.
- 2Mis‑classifying wages that are exempt from FUTA
- 3Using the wrong credit rate for state unemployment taxes
- 4Leaving the signature line blank
- 5Submitting after the January 31 deadline
Plain English
If you run a business that pays wages, the government wants to know how much you owe for the federal unemployment fund. Form 940 collects that information once a year and lets you send the payment. It’s a simple, one‑page return for most employers.
Submission Date
- Filing date: 2025-11-26 21:10:05
- Preparation window: collect IDs, supporting records, and signatures in advance.
- Final review: verify names, dates, and required fields before submission.
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What this form is for
- Use when you owe FUTA tax for the year.
- Do not use if you only owe state unemployment tax.
- Check Form 941 if you need to report quarterly payroll taxes.
Form selector
Use this form or another form?
Quarterly payroll tax reporting
Covers Social Security, Medicare, and income tax withholding
✓ Verify if you also need to file Form 940
No FUTA liability because all wages are exempt
Confirm exemption status
✓ Review IRS instructions
Deadline or filing window
Form 940 is due by January 31 of the year following the tax year. If you file electronically and pay the tax, the deadline can be extended to the last day of February. Late filing incurs a $50 penalty per month, up to 25% of the tax due.
- —Total taxable wages | Sum of first $7,000 per employee | FUTA tax before credit | Verify wage caps
- —State unemployment tax credit | 5.4% of state wages paid | Credit amount | Ensure state credit eligibility
Checklist
What you need before filling it out
Line 1 – Total FUTA taxable wages
Payroll summary · Payroll software or manual ledger
Line 2 – FUTA tax before credit
Computed tax · Spreadsheet calculation
Line 3 – Credit for state unemployment tax
State unemployment tax returns · State agency statements
Signature block
Signed Form 940 · Physical or electronic signature
EIN
Employer Identification Number · IRS notice or prior returns
Before you submit
- 1Confirm the form edition matches the tax year.
- 2Verify EIN is correct and matches IRS records.
- 3Re‑calculate FUTA tax using the $7,000 wage cap.
- 4Apply the correct state unemployment tax credit.
- 5Check that all required schedules are attached.
- 6Sign the form (or use an authorized e‑signature).
- 7Attach payment or confirm electronic payment method.
- 8Select the correct mailing address or e‑File portal.
- 9Retain a copy of the completed form for your records.
- 10Enter the filing date on your internal tracking log.
- 11Ensure the filing is submitted before the deadline.
How to file this form
- 1Gather payroll data for the calendar year.
- 2Calculate FUTA tax on the first $7,000 of each employee’s wages.
- 3Determine any allowable state credit and subtract it.
- 4Complete Form 940 lines 1‑5 with the calculated amounts.
- 5Sign the form or approve electronically.
- 6Submit via IRS e‑File or mail to the address in the instructions.
- 7Pay any balance due using the EFTPS system or a check.
- 8Record the filing confirmation number and date.
Known limitations
- 1IRS instructions may change credit percentages each year.
- 2Electronic filing is only available for employers with prior e‑File history.
- 3The form does not capture state unemployment tax obligations.
- 4Late‑file penalties are not calculated on the form itself.
- 5The form assumes the $7,000 wage cap; special industries may have different rules.
Field map
Compact field-by-field guide
Employer Info
1 items
Full legal name and Employer Identification Number.
Quarter
1 items
Select the calendar quarter this return covers.
Wages
1 items
Sum of all wages, tips, and other compensation paid to employees during the quarter.
Withholding
1 items
Total federal income tax withheld from employee paychecks.
SS & Medicare
1 items
Wages subject to Social Security tax (capped) and Medicare tax (uncapped).
Deposit
1 items
Indicate your deposit schedule: monthly, semiweekly, or next-day rule if over $100k.
Signatures
1 items
Must be signed by an authorized officer or agent of the employer.
Almost done reviewing the fields?
Fillable formOpen in Editor->The 2024 edition of Form 940 is active. The IRS updates the form annually; verify the edition year on the top of the PDF before filing.
What changed or needs a fresh check
- Edition date – confirm the form shows the current tax year (e.g., 2024)
- Fee – no filing fee for Form 940
- Mailing address – use the address listed for your state in the instructions
- Electronic filing address – IRS e‑File portal URL
- Signature requirement – printed or electronic signature needed
Quick Facts
Downloads
After you file
- 1Save the filed copy and payment receipt for at least four years.
- 2Enter the filing date and amount paid into your payroll system.
- 3Reconcile the FUTA tax payment with your quarterly Form 941 filings.
- 4Monitor the IRS account transcript for acceptance status.
- 5Address any notice of deficiency within 30 days of receipt.
- 6Update your internal calendar for next year’s January 31 deadline.
- 7Review state unemployment tax credit calculations for accuracy.
Sources
- SRCIRS Form 940 PDFofficial instructions
- SRCIRS Publication 587Employer’s Guide to Federal Unemployment Tax
- SRCIRS e‑File system eligibility criteria
- SRCIRS penalty schedule for late FUTA filings
- SRCState unemployment tax credit rates listed in Form 940 instructions
- SRCIRS EFTPS payment guidelines
Common confusion points
FUTA vs. state unemployment tax
Employers often mix the two
→ Verify which tax you are reporting
Wage cap application
Some think all wages are taxable
→ Apply $7,000 limit per employee only
Credit rate changes
Credit varies by state
→ Check the current credit rate in the instructions
Electronic vs. paper filing deadline
Different extensions apply
→ Confirm filing method before the deadline
Signature requirement
Electronic signatures sometimes omitted
→ Ensure a valid signature is captured
Workflow map
Related forms and next steps
Before
Current
After
Often used with
⚠ If something goes wrong
- Notice of Federal Tax Lien or CP2000 notice
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