Due Date For Contributions

[Guest merlin]

What is the due date for making the contribution to a calendar year profit sharing plan sponsored by a tax-exempt entity?

[mbozek]

How about date for filing 990 form since allocations must be made by 990 due date in order to count as contributions for such year's 415 limits. For a calendar year plan I think the 990 is due on June 15.

[Mary Kay Foss]

Form 990 is due 4.5 months after year end. May 15 is the due date for a calendar year entity. An extension of 3 months can be requested with another 3 months later; the last date for filing (with approved extensions) would be November 15.

[QDROphile]

What happens if the contribution is not made by one of the proposed dates?

Why doesn't the plan say when contributions are due?

[mbozek]

Then the contribution becomes an allocation for the limitation year in which it is contributed. See Reg. 1.415-6(B)(7)(ii) -contribution must be made by 5 1/2 months after the end of the taxable or fiscal year within which the limitation year ends. Plan does not say when contributions are due because of poor drafting.