Key Dates for Defined Contribution Calendar Year Plans
Dates Provided by Priority Pension Services, Inc. (AFI)
So, you are the plan sponsor of a 401K and or Profit-Sharing Plan. An excellent way to attract and retain top talent and receive significant tax deductions for your business! Please note this is for a December 31st year-end, if your year-end is June 30th add 6 months.
Maintaining a plan does not need to be overwhelming. We’ve noted some significant due dates below so there are no surprises. While not comprehensive, it includes most responsibilities to keep you informed and on track.
**Click the Deadline Date for More Information**
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- 15Defined Contribution DeadlineMARCH 15: ►Employer contributions due for S-corporations and partnerships to take deductions with no corporate tax extension. ►Deadline for distributing ADP/ACP refunds without incurring a 10% excise tax on the employer. , ...
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- 31Defined Contribution DeadlineMARCH 31: ►Form 1099-R for 2022 distributions (paper with extension, or electronic) ►Form 5330 (Return of Excise Taxes Related to Employee Benefit Plans). , ...
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Miscellaneous Requirements:
- If any changes are made to fee information, you must notify participants at least 30 days, but not more than 90 days, in advance of it.
- Plan statements must be provided at least annually for participants who do not have the right to direct their investments, and at least quarterly for those who do have the right.
- Notice to participants of a qualified automatic contribution arrangement (QACA) or an eligible automatic contribution arrangement (EACA), and of a participant’s ability to opt out, must be provided 30 days prior to eligibility and then annually. For plans with immediate eligibility, notice may be given on or as soon as feasible after eligibility.
