Retirement Plan Deadlines

Retirement Plan Deadlines

Important Upcoming Retirement Plan Deadlines and Planning Opportunities

Shortly, our summertime vacation season will be behind us, and we’ll be heading into a series of deadlines applicable to retirement plans and tax returns.  These deadlines should be used as a useful planning opportunity for the upcoming new-year.

September 15, 2014 – Funding for 2013 Plan Year Pension Contributions

The “minimum funding rules” applicable to pension plans (i.e. traditional defined benefit, cash balance and money purchase pension plans) require deposit no later than 8 ½ months after plan year end.

September 15, 2014 – Funding for 2013 Plan Year Non-Pension Contributions

For employer contributions to 401k/profit sharing type plans, contributions must be funded by the due date of the employer’s tax return (on which such deduction will be made) by the extended due date of the return.

October 1, 2014 – 401k 2014 Safe Harbor Implementation

401k plans providing for a “safe harbor” component must be implemented no later than October 1, 2014 to be effective for the 2014 plan year.  This deadline would apply to any current profit sharing (only) plan that adds a 401k and safe harbor feature, as well as to any newly implemented 401k plan that will provide for a 2014 safe harbor provision.

October 15, 2014 – 2013 Plan Year Contributions – Self-Employed Individuals

Plans subject to minimum funding requirements (i.e. defined benefit and money purchase pension plans) are subject to the September 15, 2014 deadline explained above.  Other plans (e.g. profit sharing plans, SEPs) have until October 15, 2014 for deposit of the 2013 employer contribution.

November 1, 2014 – Participant Notice of Termination of SIMPLE IRA Plan

The rules applicable to a SIMPLE IRA plan state that the Employer may not provide allocations to any qualified retirement plan in the same calendar year in which contributions are made to a SIMPLE IRA plan.  Those employers planning the adoption of a qualified plan for the 2015 plan year must notify their employees of the termination of the SIMPLE IRA no later than 60-days prior to the calendar year-end.

December 1, 2014 – 401k 2015 Safe Harbor Plan Design Amendments

The rules applicable to ADP and/or ACP safe harbor plans effectively restrict the ability to amend certain provisions once the plan year begins.  Since December 1st (i.e. 30-days prior to plan year beginning) is deemed to be an acceptable time frame for delivery of the 2015 Safe Harbor Notice on which plan provisions are detailed, all desired changes for the 2015 plan year need to be adopted prior to this date.


T.J. Orr is a partner at Pinnacle Plan Design, LLCTJ Orr

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