BG5150 Posted September 20, 2023 Posted September 20, 2023 I know a payroll-based SH Match must be deposited by the end of the calendar quarter after the quarter in which the deferrals were taken. Obviously, for a calendar year plan, those QE dates are 3/31, 6/30, 9/30, 12/31. What about for off-calendar plans? For a PY that starts on 3/1, do they still adhere to calendar quarter dates? Or do they use 5/31, 8/31, 11/30 and 2/28? QKA, QPA, CPC, ERPATwo wrongs don't make a right, but three rights make a left.
Bri Posted September 25, 2023 Posted September 25, 2023 I think this blurb from the 1.401(k)(3) regs has it spelled out as plan year quarters: (ii) Periodic matching contributions. The safe harbor matching contribution requirement of this paragraph (c) will not fail to be satisfied merely because the plan provides that safe harbor matching contributions will be made separately with respect to each payroll period (or with respect to all payroll periods ending with or within each month or quarter of a plan year) taken into account under the plan for the plan year, provided that safe harbor matching contributions with respect to any elective contributions made during a plan year quarter are contributed to the plan by the last day of the immediately following plan year quarter. Paul I 1
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