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Deadline for Depositing Partners' Elective Deferrals
FIS Relius Link to more items from this source
[Guidance Overview]
Jan. 2, 2014
"The Preamble to the regulations indicates that it does not apply a different rule regarding the timing of deposits for elective deferrals to partners. However, the Preamble to the regulations does clarify that a partner's elective deferrals become plan assets 'at the earliest date they can reasonably be segregated from the partnership's general assets after those monies would otherwise have been distributed to the partner, but no later than 15 business days after the month in which those monies would, but for the election, have been distributed to the partner.' Accordingly, the benchmark for determining when a partner's elective deferrals need to be deposited is the date on which partner's earned income is distributed."

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