Safe Harbor Contribution

[Guest mich823]

CAN YOU IMPOSE "LAST DAY OF THE PLAN YEAR " FOR A CONTRIBUTION TO A SAFE HARBOR PLAN? ALSO, IS THERE AN ISSUE IF THE PLAN DOCUMENT IS STAND. OR NON-STAND.?

THANKS!!!

[Guest Jennifer Reid]

You may not impose the "last day rule" or any other accrual requirement on the safe harbor contribution (whether made in the form of the safe harbor match or the safe harbor nonelective). You can, however, impose the last day rule or other accrual requirements on any non-safe harbor matching contribution or profit sharing contribution to the plan. Standardized prototype adoption agreement do not allow the use of the "last day rule", so you would have to use a nonstandardized adoption agreement to do this.