May 2013 ::: FAQ of the Moment

What is the 401(k)/403(b) deferral limit?  What is the Social Security Taxable Wage Base?

May 2013 ::: FAQ of the Moment

Do Highly Compensated Employees (HCEs) have to wait for non-discrimination testing to file their individual tax returns?

May 2013 ::: FAQ of the Moment

What is Automatic Enrollment?

May 2013 ::: FAQ of the Moment

Are Roth 401(k) contributions allowed?

May 2013 ::: FAQ of the Moment

How does PPA 2006 affect my 401(k) Plan?

May 2013 ::: FAQ of the Moment

What is a Safe Harbor Plan?

May 2013 ::: News

The Department of Labor and the Internal Revenue Service mandates that all eligible employees be notified of their right to participate in your company's retirement plan. They must be given written information about the plan and must complete and sign an enrollment form indicating whether or not they will be participating in the plan.

Remember, Employer Contributions must be made by the due date of your corporate tax returns on extension to be tax deductible.

May 2013 ::: News

The Department of Labor (DOL) is taking a very firm position that employee 401(k) salary deferrals and employee loan repayments must be transferred from the Employer to the Plan’s Investment Trust as soon as administratively feasible. The DOL has said that their definition of "as soon as administratively feasible" is the same day that the Employer makes payment of an employee’s payroll.

 

News Item of the Moment

May 2013

The Department of Labor and the Internal Revenue Service mandates that all eligible employees be notified of their right to participate in your company's retirement plan. They must be given written information about the plan and must complete and sign an enrollment form indicating whether or not they will be participating in the plan.

Remember, Employer Contributions must be made by the due date of your corporate tax returns on extension to be tax deductible.

The deadline for filing IRS Form 5500 and all Schedules is normally seven months after the end of the plan year, or nine and a half months after the plan year on extension.  Please see the chart below to determine when your tax forms are due.

If any of the due dates fall on weekends, the due date is extended to the following Monday.

 

Plan Year End Due Date Extended Due Date
December 31 July 31 October 15
January 31 August 31 November 15
February 28 September 30 December 15
March 31 October 31 January 15
April 30 November 30 February 15
May 31 December 31 March 15
June 30 January 31 April 15
July 31 February 28 May 15
August 31 March 31 June 15
September 30 April 30 July 15
October 31 May 31 August 15
November 30 June 30 September 15

Please contact your Account Executive for further details.
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