Stan P/S Plan. Corp has 4/25 fiscal year. Plan is 12/31. Corp makes deduction for corp fiscal year 4/25/04 in July, 2004 for the Plan Yr ending 12-31 04 (per Code Sec. 404(a)(3)).
Plan uses fiscal year for compensation. May a date other than 12/31/04 be used as the allocation date (such as corp fiscal year-end of 4/25/04, or 12/31/03)?
The question arises because the client does not want to wait for 6 months to make the allocation.