Jump to content

Hurricane Irma - Due date of DC final deposit


ldr

Recommended Posts

Hi, I am relatively new to this site and if I am asking the wrong question in the wrong place, I hope someone will say so!  I thought I posted this question yesterday and it seems to have disappeared.

If a client's 2016 corporate tax return is on extension from March 15th of 2017 to September 15th of 2017, normally speaking, the client would have until September 14th of 2017 to make the final 2016 contribution deposits such as match, profit sharing and Safe Harbor.  Now, with Hurricane Irma relief, the client's corporate return does not have to be filed until January 31st, 2018.  Does that mean that the client now has up until January 30, 2018 to make his final 2016 contribution deposits?  Thanks in advance for any advice!

Link to comment
Share on other sites

1 hour ago, ldr said:

Hi, I am relatively new to this site and if I am asking the wrong question in the wrong place, I hope someone will say so!  I thought I posted this question yesterday and it seems to have disappeared.

If a client's 2016 corporate tax return is on extension from March 15th of 2017 to September 15th of 2017, normally speaking, the client would have until September 14th of 2017 to make the final 2016 contribution deposits such as match, profit sharing and Safe Harbor.  Now, with Hurricane Irma relief, the client's corporate return does not have to be filed until January 31st, 2018.  Does that mean that the client now has up until January 30, 2018 to make his final 2016 contribution deposits?  Thanks in advance for any advice!

Yes and no.  If the client qualifies for relief, non-safe harbor contributions can be deposited by January 31, 2018.  However, the deadline for safe harbor contributions is still 12 months after the end of the plan year, or December 31, 2017 for a calendar year plan.

This prior thread has some good answers to your question

 

 

 

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
×
×
  • Create New...