Partnership with fiscal year 4/30 sponsors a calendar year 401(k)

[Guest AlCal]

-A partnership is sponsoring a 401(k) on a calendar year basis.

-The partnership has a fiscal year end of 4/30/2000(yes, it is not a mistake, I found out that it is possible even though until recently I did not know it)

-As every year, the partnership is on extension and will file the partnership income tax return just before 2/15/2001.

-All participants deferred during 2000 excepting the parteners. As every year they will make the deferrals close to the fiscal year end.

In a nutshell thy were told by previous TPA that is OK to defer in February 2001 for the plan year end 12/31/2000. This is 2 1/2 month after the plan year end.

Any comments about the legitimacy of above situation?

PS: The partnership is an accounancy firm. They claim that they never know the partnership income until close to the extension date

Thanks.