Safe Harbor contribution not made for 12-31-09 Plan Year End

[Jim Chad]

Have a case where Safe Harbor Contribution for 12-31-09 PYE was not made yet and we think no extension was filed.

Of course, I am hoping that when the CPA gets back from vacation he will have good news for me.

But just in case I don't get good news I was looking in Rev. Proc. 2008-50 for where is says the correction for this. I remember that we can self correct through 12-31-10. But I can't find this.

Can someone tell me where it is?

Or am I all wrong in my memory?

[Guest Sieve]

What you are asking for is in the regs (not in EPCRS), where it says that a SH contribution can be taken into account if it is contributed within 12 months after year-end (Treas. Reg. Section 1.401(k)-3(h).) But, the deduction will be lost for the SH contribution for the 12/31/2009 year if no income tax return extension was filed timely.

[austin3515]

To expand slighlty:

and therefore the only compliance concern belongs to the CPA, not you. The CPA may need to do an amended tax return IF they did not file the extension and IF they deducted teh contribtion on the return.