Andy the Actuary Posted August 30, 2014 Share Posted August 30, 2014 Presumably the drop-dead date for opting out of HAFTA for 2013 for a calendar year plan is 9/15/2014 for 430 and 9/30/2014 for 436. 9/15/2014 is the last date a contribution for 2013 could be counted on the 2013 SB. 9/30/2014 is the AFTAP drop-dead date whereby presumptions apply. I made all of this up so please feel free to disagree! The material provided and the opinions expressed in this post are for general informational purposes only and should not be used or relied upon as the basis for any action or inaction. You should obtain appropriate tax, legal, or other professional advice. Link to comment Share on other sites More sharing options...
Effen Posted September 1, 2014 Share Posted September 1, 2014 You are probably right, but most of the comment letters are asking for additional time. The way it COULD work is that you would still need to file by 10/15, but you would be permitted to amend the 2013 filing with an attachment on the 2014 SB. Obviously, we won't know for sure until the IRS issues guidance. The material provided and the opinions expressed in this post are for general informational purposes only and should not be used or relied upon as the basis for any action or inaction. You should obtain appropriate tax, legal, or other professional advice. Link to comment Share on other sites More sharing options...
Hojo Posted September 2, 2014 Share Posted September 2, 2014 My guess would actually be 10/15 (the filing deadline of the 5500). Reason being that we often have clients make contributions prior to having final census data (knowing that it would fall under within the min/max corridor whether they made $0 or $260k). I always figure that nothing is final (assumptions or otherwise) until the filing is received. Link to comment Share on other sites More sharing options...
AndyH Posted September 9, 2014 Share Posted September 9, 2014 Any whispers on timing of IRS guidance? Link to comment Share on other sites More sharing options...
Andy the Actuary Posted September 9, 2014 Author Share Posted September 9, 2014 Not to be negative, but sometime near the n-th hour of September 15 or thereafter. If felt no reason to hold up the show as long as good-faith compliance follwed. I've already had my clients do whatever opting they needed to in good faith. I used an election similar to what was used to opt out of MAP-21. The material provided and the opinions expressed in this post are for general informational purposes only and should not be used or relied upon as the basis for any action or inaction. You should obtain appropriate tax, legal, or other professional advice. Link to comment Share on other sites More sharing options...
Hojo Posted September 11, 2014 Share Posted September 11, 2014 http://www.irs.gov/pub/irs-drop/n-14-53.pdf Link to comment Share on other sites More sharing options...
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