Employer Contribution Submissions

[Guest asitan]

I know this is probably a very simple question to answer but I was wondering if anyone could reference me to the regulatory documentation that states when employer (matching) contributions paid for the participant must be submitted to the plan. Also I was wondering where deliquent employer (matching) contributions are reported on the Form 5500, if there are required to be. looking for any sort of guidance. thanks

[Jim Chad]

Is this a Safe Harbor match and is it based on compensation for a period less than the whole year?

[Guest asitan]

Is this a Safe Harbor match and is it based on compensation for a period less than the whole year?

no it isn't a safe harbor match the it is based on compensation for the entire year.

[Archimage]

For deductibility purposes try IRC 404(a)(6) which says due date of tax return with extensions. For allocation purposes try treas. reg 1.415-6(b)(7)(ii). It basically says that an employer contribution can be allocated up to 30 days after the 404(a)(6) deadline.

[Jim Chad]

As far as the part of your question dealing with reporting delinquent contributions: there really is no such thing, if you are thinking of the rules for deferrals. If the deduction deadline is blown, it is deducted the next year, if the 415 deadline is missed and it is discretionary, you do not put the match in the Plan. If a missed match is a fixed match in the document, it is an operational error and it would be advisable to file under EPCRS.