Is it still a safe harbor plan if the employer hasn't deposited the contribution?

[Guest Boilerburm]

For 2002, a plan issued the safe harbor notice, and the TPA calculated the amount that needed to be deposited based on the match safe harbor formula. Now that we have moved into 2004, it is discovered that the employer has not deposited that contribution! Is it still a safe harbor plan? What are the options/implications of this?

Thanks in advance for any help.

[Archimage]

I don't have it in front of me but I believe IRS notice 98-52 says that safe harbor contributions must be deposited no later than 12 months after the end of the plan year.

[david rigby]

Correct. See section VII at http://benefitslink.com/IRS/notice98-52.shtml