Form 940
The annual employer FUTA tax return, due January 31 for the prior year.
Form 940 is the Employer's Annual Federal Unemployment Tax (FUTA) Return, on which U.S. employers report wages subject to FUTA, the FUTA tax owed, and any state-credit-reduction adjustments. The form is filed annually and is due January 31 of the year following the calendar year reported.
The Form 940 captures the effective FUTA rate (0.6% in most states with full SUTA credit, higher in credit-reduction states) on the first $7,000 of each employee's wages. Most modern small-business payroll software files the Form 940 automatically and pulls the prior year's deposit history into the form.