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Catch-Up for fiscal plan


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We have fiscal 401(k) plan, PY 07/01/14 through 06/30/15. The owner's deferrals are all after 01/01/15, and he turns 50 in October, 2015.

1. He will definitely defer $18,000 limit for 2015 before PYE.

2. Since he will be 50 by 12/31, he will be eligible for $6,000 catch-up for 2015

Q: Can he make his catch-up deferrals before the 06/30/15 PYE or does he have to wait until after 07/01/15 - which would be the plan year containing 12/31/15?

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