INVESTMENT

Important 401 (k) date and time of consent


Key 401 (k) Date of consent

Although many of these responsibilities are handled by Betterment, as a 401 (k) plan sponsor it is important that you are aware of important dates and deadlines related to managing your plan.

Date Responsibility Previous planning year The current planning year
January 31 Improvement IRS Form 1099-R is available to participants.
February 10 Improvement Annual Federal Income Tax Return (Form 945) arrears.
March 1 Participants Deadline for employees participating in multiple plans to notify additional suspended (402 (g) additional) sponsors.
March 15 Improvement Participants’ refund period for failed ADP / ACP test (s). Failure to meet this deadline may result in a 10% tax penalty for plan sponsors.
March 15 Plan sponsor Employer’s contribution (e.g., profit sharing, match, safe haven) for deductibles for incorporated entities.¹ Failure to meet this deadline may exclude the plan sponsor from tax deductibles. Planning deadline for previous tax year
April 1 Plan sponsor The deadline to ensure that the initial required minimum distribution (RMDs) was taken by participants who: turned 72 আগে before the end of the previous year; Retired / finished; And there is a balance
April 15 Plan sponsor LLC, LLP, employer contribution for deductible for sole proprietorship (unorganized entity) (e.g., profit sharing, match, safe haven). ব্য Failure to meet this period may exclude plan sponsors from tax deductible.
April 15 Improvement 402 (g) Deadline for completion of corrective delivery for additional deferrals.
July 29 Plan sponsor Deadline for delivery of Summary of Material Modification (SMM) to participants (only if plan is revised).
July 31 Improvement 6 Deadline for submitting Form 5500 electronically (and third party audit if applicable) or requesting an extension (Form 5558).
September 30th Plan sponsor Summary of Participants and Beneficiaries Summary Annual Report (SAR) Delivery Deadline (unless Form 5500 extension is filed; Delivery Deadline will be 15 December).
October 1 Plan sponsor Deadline for setting up a new Safe Harbor Match 401 (k) plan.
Oct 15 Plan sponsor Deadline for submitting Form 5500 electronically and third party audit, if applicable, if a Form 5558 extension is granted.
December 1 Plan Sponsor (Notice prepared by Betterment) Deadline for distribution of supplementary safe port notification to participants for safe harbor planning (“maybe”). 3
December 1 Plan Sponsor (Notice prepared by Betterment) If applicable, distribute to participants for the next planning year: Safe Harbor Notification, Eligible Default Investment Option (QDIA) Notification, Automatic Enrollment Notification
December 1 Plan Sponsor (revised draft by Betterment) A traditional plan is the deadline for implementing amendments to any type of safe harbor plan (matching or unselected). Deadline to implement amendments to turn a traditional plan into a safe harbor match plan for the next planning year
15 December Plan Sponsor (SAR made by Betterment) Deadline for distribution of Summary Annual Report (SAR) to participants, if a Form 5558 extension is granted.
31 December Plan sponsor Deadlines for safe harbor and other specific employer contributions. Deadline for Annual Required Minimum Delivery (RMDs). Art
31 December Plan sponsor Deadline for implementation of amendments to the current plan year to make the traditional plan a 3% safe harbor unplanned plan

ধরে For calendar tax years. Additionally, if your company files a tax extension, you have the funds to contribute up to the extension period.

It has increased from 70½ in 2019 and earlier years.

The first business day after 7 or so.

210 days after the end of the year of the effective revised date, which is July 28 in the leap year.

হয়তো Safe Harbor “maybe” plans (specified in the plan document) are able to receive a safe harbor unselected plan 30 days before the end of the plan year. Please review your plan documents to make sure the plan has adopted such a provision.



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