Changing plan year - too late?

[jmartin]

Have a profit sharing only plan with a current plan year end of 6/30/20. They have talked about changing to a calendar year end. Is it too late to amend for a 12/31/19 plan year end? They extended their taxes so would still have time to make payment. Or did they have to amend before 12/31?

[david rigby]

It is my understanding that a change of plan year must be enacted on or before the date of the short plan year, and this has always been the rule/principle.

[Larry Starr]

5 hours ago, jmartinrps said:

Have a profit sharing only plan with a current plan year end of 6/30/20. They have talked about changing to a calendar year end. Is it too late to amend for a 12/31/19 plan year end? They extended their taxes so would still have time to make payment. Or did they have to amend before 12/31?

Yes; too  late.  Your next opportunity is for the year 7/1/20 - 12/31/20.