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Hurricane Ida Relief


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I'm seeing that there is relief for the 5500 filing due date for those impacted by Hurricane Ida but I wanted to verify that this does not currently extend the date required contributions are due past September 15th.

I don't believe it has, but wanted to double check.

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  • 2 weeks later...

Metsfan026 posted this on the 401K Section in regard to contributions being extended beyond September 15th.

 

I just want to make sure I'm reading all of this correctly.  Under the Hurricane Ida Relief it says:

The IRS also gives affected taxpayers until January 3, 2022 to perform other time-sensitive actions described in Treas. Reg. § 301.7508A-1(c)(1) and Rev. Proc. 2018-58, 2018-50 IRB 990 (Dec. 10, 2018), that are due to be performed on or after September 1, 2021, and before January 3, 2022, are postponed through January 3, 2022.

As part of Treas. Reg. § 301.7508A-1(c)(1) it says:

(c) Acts for which a period may be disregarded—(1) Acts performed by taxpayers. Paragraph (b) of this section applies to the following acts performed by affected taxpayers (as defined in paragraph (d)(1) of this section)—

(iii) Making contributions to a qualified retirement plan (within the meaning of section 4974(c)) under section 219(f)(3), 404(a)(6), 404(h)(1)(B), or 404(m)(2); making distributions under section 408(d)(4); recharacterizing contributions under section 408A(d)(6); or making a rollover under section 402(c), 403(a)(4), 403(b)(8), or 408(d)(3);

Paragraph (b) discusses the delayed deadline.  So does this mean contributions due by 9/15 are delayed to January 3? 

Thanks in advance everyone!

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