Late 401(k) contributions

[R. Butler]

I am preparing a VFCP filing and this particular employer has a check date that is seven days after the payroll end date. For purposes of the both the 7 day safe harbor and lost earnings calculations should we use the check date as the starting point or the payroll end date? I'm pretty sure it is the check date based on §2510.3-102(a)(2) -- "...or the 7th business day following the day on which such amount would otherwise have been payable to the participant in cash."

I've filed several VFCP's apps before and always used check date. I have never been questioned on it, but as far as I can recall the check date has alwasy been within a day or two of the payroll end date. It has been awhile since I've seen this much time lag between payroll end and check date.

Thanks in advance for any guidance.

[Bird]

I say it is the check date. That's when they would have received the cash referenced in the reg.

[Guest wickedp1]

I agree with Bird.....Payroll check date is your starting point, regardless of the gap between the payroll end date and check date. However, that is quite a lag..... weird.