What is the Annual Reconciliation Form L-3 and when is it due?
Employers are required to file an annual reconciliation, Form L-3 , at the end of the year or if a business terminates during the year. The annual reconciliation, Form L-3 is to reconcile the amount of wages and the taxes withheld for each employee to the total amount of income tax paid to LDR with the Employer’s Return of Louisiana Withholding Tax, Form L-1, filings. The Annual Reconciliation Form L-3 is due on or before the first business day following February 27 or on or before the 30th day after the date on which the final payment of wages was made. Employers must also submit copies of employees’ Withholding Tax Statements, Federal Form W-2, with the annual reconciliation form. If the employer fails to submit copies of the employees W-2s with the annual reconciliation, a penalty of $5 per W-2 statement, not to exceed $7,500, may be imposed.
