2007 plan year P.S. Contribuiton not made

[Lori H]

Small plan (25 particippants) failed to make it's $10,000 contribution for the 2007 calendar plan year. Suggested to revise the 5500 and corp tax return showing no contribution. Other options????? make the contribution ($10,000 would have lost money)late or file SCP?

[K2retire]

Is the PS formula set in the document? It is is strictly discretionary, I think your only choice is to revise the tax return and 5500.

[BG5150]

Was the 5500 done on an accrual basis?

[Lori H]

The 10,000 was shown as a receivable and was included in the assets on the 5500. The PS formula is an integrated discretionary. However, it had to be allocated on a comp % as the $10,000 could not accommodate the integrated design.