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austin3515

Dec 2 2002, 10:29 AM

The regulations on depositing participant deferrals reference "business days." What the heck is a business day?

Is it basically everyweekday except for a banking holiday?

pax

Dec 2 2002, 11:29 AM

Not sure if this is definitive, but IRC 7503 might help.
http://www.fourmilab.ch/ustax/www/t26-F-77-7503.html

maverick

Dec 2 2002, 01:15 PM

Austin, I believe that all weekdays, except Federal holidays, are business days. This link lists Federal holidays:
http://www.opm.gov/fedhol/index.asp

Tom

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