Contribution made after 9/15

[amoy]

I have an self-employed client for a defined benefit plan. The contributions he made so far satisfies the minimum required contribution for 2013. But he wants to put more contributions after 9/15 but before 10/15. His personal income tax is on extension (10/15). Can he make more contributions after 9/15/14 for the plan year 2013? Are those contributions deductible?

In the SB instruction, I can only report any contribution made within 8.5 months after the end of the plan year. If those contributions are deductible, does it mean I don't list them in the SB but I report them in Form 5500EZ?

Any ideas? Thanks!

[Lou S.]

I think there has been quite a bit of discussion on this issue in the past and the conclusion has been the contribution has to be on the Schedule SB for 2013 to be deductible for 2013 even though the tax payers extended deadline is 10/15. Contributions made between 9/15 - 10/15 would need to be deducted in the 2014 year in this case.

I think a search might find the prior discussions with more supporting detail.

[Lou S.]

I believe this was the relevant thread

http://benefitslink.com/boards/index.php?/topic/54289-another-contribution-due-date-question/?hl=sole+prop#entry235882

[amoy]

Thanks a lot! Got it!