The intelligent electronic device（IED） for status monitoring（SM） based on information model of IEC 61850 is the core component of smart primary equipment of substation. Based on analysis of function requirement of SM system for substation， and by using logical nodes for power system equipment， SM and sensors in accordance with the newest IEC 61850 edition 2.0， the function and device model for SM IED in substation are built. A communication method between SM IEDs is proposed. In above method， the un-buffered report control block， buffered report control block， file transfer model and their service are mapped to manufacturing message specification as real-time communication protocol， and they are respectively used for information transmission with measure， alarm and power system transient data waveform file based on the standard COMTRADE. In order to build model of SM master IED for transformer， and to generate real-time database， a simulation system for SM IED has been developed with Visual C++， system configuration description language and Xerces， and also the test result has been given.