Participant Loans - First payment

[Gilmore]

Are there any rules, guidelines, etc. on when the first payment for a plan loan must be made? For example, within 30 days of the distribution, 45 days, any "reasonable date"...

As always, thanks for any assistance.

[Belgarath]

Under 72(p)(2)©, the substantially level payments must be made at least on a quarterly basis. So I'd say you have 1 quarter, plus possibly a "cure" period if the plan provides for one.

[Gilmore]

Thanks!

[Brian Gallagher]

We set up the amortization schedule to start 45 days after the check date.

[rcline46]

We generally set up for first full pay period after check.