retbenser Posted March 22, 2011 Posted March 22, 2011 When is the deadline for "contributing" to the 401(k) elective deferral for owners for corporation (C or S), partners, and sole-proprietorship? Is it 12/31 (calendar plan year) or due date of employer tax return? Thanks for all responses.
K2retire Posted March 23, 2011 Posted March 23, 2011 The deadline for depositing deferrals for employees (whether owners or not) is usually 7-10 business days after the date of the paycheck from which they are withheld. For self-employed individuals or partners in a partnership, the deadline is after the earned income has been calculated for the year, usually the due date of the tax return.
K2retire Posted March 24, 2011 Posted March 24, 2011 After half an hour on the EBSA web site, I wasn't able to find the final reg. about the 7 day deposit rule -- only the proposed reg. Does anyone have a link or a PDF of the final reg? A client's new HR person wants proof that I'm telling her the correct deadline.
PensionPro Posted March 24, 2011 Posted March 24, 2011 Hope this is what you are looking for ... Plan_Assets_Final_Rule.pdf PensionPro, CPC, TGPC
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