thepensionmaven Posted September 30, 2007 Posted September 30, 2007 If the 8 1/2 months ends on a Saturday (in this case 9/15/07), doesn't the client's check have to be dated 9/15 and if he dates his check 9/17, he's OK for deduction purposes but not minimum funding?
Andy the Actuary Posted September 30, 2007 Posted September 30, 2007 I often wondered what constitutes a half month. If a Plan Year ends January 31, is 8 1/2 months October 15 or October 16. I suspect your question may be addressed in some early EA meeting "Grey Book." The material provided and the opinions expressed in this post are for general informational purposes only and should not be used or relied upon as the basis for any action or inaction. You should obtain appropriate tax, legal, or other professional advice.
Mike Preston Posted October 1, 2007 Posted October 1, 2007 Yes, it has been. The IRS has a code section that allows for some things to be automatically extended if the deadline falls on a weekend or holiday. The IRS takes the position that the aforementioned code section does not apply to minimum funding. I don't agree with them, but heck, forewarned is forearmed, right?
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now