When is it too late to setup a DB plan?

Does this hold true for DB plans... all plans?

Sure, but a plan set up as late as October 15 will have some sort of a problem, since the minimum funding was due September 15.

Well... but if it is setup today then they would have until 9/15 to fund.  It can be done.   That's great!

Thanks

Absolutely. Given the 9/15 drop dead date, we work backwards from there given the situation (solo plan, few employees, larger plan) for the time needed to complete the valuation, establish the trust/custodial account, execute plan documents, draft and review plan documents and come up with our approximate due date for the client to engage us for a prior year effective date. Don't want a sales rep selling a 2023 plan on 9/13/2024!

19 minutes ago, CuseFan said:

Absolutely. Given the 9/15 drop dead date, we work backwards from there given the situation (solo plan, few employees, larger plan) for the time needed to complete the valuation, establish the trust/custodial account, execute plan documents, draft and review plan documents and come up with our approximate due date for the client to engage us for a prior year effective date. Don't want a sales rep selling a 2023 plan on 9/13/2024!

don't you dare to deprive the sales rep of his commissions!  Their job is to sell, and the implementation is your problem to figure out

Funny. I'll worry about that when the sales people start designing and modeling plans!