402(g)

[Guest Joanne Davey]

Hi,

If you have a pay period that runs from 12/14/02 to 12/28/02, but the actual paycheck is not issued until 1/3/03, when are the deferrals reported. Do you report them as 2002 deferrals because of the pay period or do you report them as 2003 deferrals because that is when the paycheck was received by the participant?

Thanks for your input. I have a Client anxiously awaiting a response and I have had no luck finding any guidance.

Joanne

[WDIK]

Are the wages reported on the 2002 or 2003 W-2's? I think that the answer is the same for both questions.

[Guest hpaine]

I always go by the check date when determining which year to report the deferrals. But the above response is correct as well, I just have had problems with the W-2's being incorrect, so I usually use the check date.

[Brian Gallagher]

I was always thought that is was the check date, becasue that is the date that the person could have received the money in cash instead of putting it into the plan. But I have heard arguments the other way as well. Maybe as long as it is consistent pay period to pay period it's okay?