An E/R may be corrected at any time if wages were incorrectly reported as SEI.

In 1984, John Smith reported SEI of $14,700. It was later determined that Mr. Smith was an employee and was paid $18,500. (He had reported $18,500 as gross and deducted expenses of $3,800.)

Redesignate the $14,700 as wages and prepare an SSA-7010-U5 to credit the additional $3,800 in wages. Do not send a copy to IRS.