Can we still make a contribution for Plan year ending 8-31-14?

[Jim Chad]

Company fiscal years were 9-1-12 to 8-31-13 and 9-1-13 to 12-31-13.

Plan fiscal years were 9-1-13 to 8-31-14 and 9-1-14 to 12-31-14.

With the prorated 415 limit, the owners are really held down for this 4 month year. Can they still make a contribution for the Plan year ending 8-31-14?

[Bird]

Plan year ending 8/31/14 ends in company fiscal year ending 12/31/2014. I say yes. Deductions for both plan years ending in 2014 are linked to 12/31/14 fiscal year.

(I think...)

[Tom Poje]

I think you are saying you had a non calendar year plan and amended the plan to a short plan year.

so doesn't it depend on the tax filing deadline on the original plan.

sorry, it is Friday and the old brain gears really start slowing down.

there is the deductibility deadline issue and the 415 limit

e.g. my mind says something like for a calendar year plan the contribution is due 9/15 for deductibility, but for 415 it could be 1 month after that, but all that is true if the tax year is on extension. so I guess for the 8/31 fiscal year the contribution is due 5/15/15

or something like that, but again I thought that's if it was on extension....

or maybe I'm hopelessly muddled. why should today be any different than any other day.