mjf624 Posted January 12, 2016 Report Share Posted January 12, 2016 Simple terminated in 15 and converted to a 401k in 16. Two questions, can the 2015 employer contribution for simple be funded in 2016? If it is a partnership (k1's for partners - not w2) can the employee deferrals be deposited for the partners in 16 for 2015? Link to comment Share on other sites More sharing options...
Lou S. Posted January 12, 2016 Report Share Posted January 12, 2016 Subject to the timing of deposits rules for Simple plans I see no problem making a contribution for 2015 in 2016. Link to comment Share on other sites More sharing options...
austin3515 Posted January 12, 2016 Report Share Posted January 12, 2016 https://www.irs.gov/pub/irs-tege/forum15_sep_simple_avoiding_pitfalls.pdfMfishbein, take a look at this from the IRS website. See page 6 where it says (regarding self employed deferrals): For a self-employed person, the Schedule C filer, salary reduction contributions must be deposited within 30 days of the end of the plan year, or January 30th. Austin Powers, CPA, QPA, ERPA Link to comment Share on other sites More sharing options...
mjf624 Posted January 13, 2016 Author Report Share Posted January 13, 2016 Thanks very much, Austin! Link to comment Share on other sites More sharing options...
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