Retirement Plan Dates | American Pension Advisors | Indianapolis, IN

Important Retirement Plan Dates

Plan Requirement   Deadline   Penalty for failure to comply
         
Form 5500 and Schedules filed with the D.O.L.   7 months after plan year end unless an extension is filed.   I.R.S. Penalty - $25 per day (maximum of $15,000 per plan year filing). *
D.O.L. Penalty - up to $1,100 per day (no maximum) as determined by the DOL. *
* DFVC program available to file late returns at a reduced penalty amount
         
Form 5500-SF filed with the D.O.L.   7 months after plan year end unless an extension is filed.   Penalties are the same as those for Form 5500 listed above
         
Form 8955-SSA sent to I.R.S. (if necessary)   7 months after plan year end unless an extension is filed.   $1 per day, with a maximum of $5,000 per plan year.
         
Return of Excess Deferrals ( ADP test failure correction)   Without penalty - 2 1/2 months after plan year end.   Excise penalty of 10% of the total "late" correction; Form 5330 must be filed.
         
Employer plan year contributions   Due by the date of the employer tax return including extensions.   Employer contributions not deductible for year of tax filing.
         
Safe Harbor Notices to employees (existing 401(k) plans)   At least 30 days prior to start of plan year.   Possible plan disqualification, unless corrective steps are taken.
         
Form 5558 Extension due (if necessary).   7 months after plan year end.    
         
Form 1099-R mailed to participants.   January 31.   $50 per failure, subject to certain exceptions and maximums
         
Forms 1096 and 1099-R due to I.R.S.   February 28.   I.R.S. may assess penalties, depending on facts and circumstances.
         
Form 945 due to I.R.S.   January 31. (February 10 if all tax deposits have been made timely)   I.R.S. may assess penalties, depending on facts and circumstances.

 

9265 Counselor's Row, Suite 105, Indianapolis, Indiana 46240 | 888-428-2524
American Pension Advisors, Ltd. is not a Registered Investment Advisor and does not offer investment advice.
© 2013 American Pension Advisors, Ltd. All rights reserved. | Website & Content Management powered by Marketpath CMS
Follow Us: LinkedIn