Contribution Deadline

[Guest SuzieQNEC]

Well it's late and it seems so easy but why am I having trouble with correct deductible deposit deadlines for contributions? Consider calendar year plans. Am I correct that for required funding (defined benefit and money purchase pension plans) the extended deadline for deposit of the 2007 contribution would be 9/15. For profit sharing plans however, do they have until 10/15 to be deducted in the prior calendar year?

[K2retire]

The deadline, in most cases, is the business tax filing deadline. Corporations and LLCs taxed as corporations have until 9-15 if they filed an extension on a calendar year return. Sole proprietors, partnerships and LLCs taxed as partnerships have until 10-15. But pension plans are limited to 9-15 regardless of the employer's business structure.

[ERISAnut]

Susie,

I agree with Kevin. I also think you are referring to the 8 1/2 month requirement for plans subject to funding requirement of 412 (i.e. Pension Plans including MPP and DB). You are correct as this is a special rule that is separate from deductibility.

Hope this helps.