"Many plan sponsors are considering taking advantage of the extended due date for the 2020 calendar year required contributions.... [1] Contribution amounts will be increased ... [2] An amended Form 5500 filing will be required.... [3] The audit report may need to be updated ... [4] The contribution deadline applies to excess contributions ... [5] AFTAP certification for 2020 may be lower ... [6] Prefunding Balance elections are also delayed ... [7] A Plan Sponsor may use the prior year AFTAP certification for any plan year occurring in 2020 ... [a] The election can be used for a 2019 plan year ... [b] Plan Sponsors must make the election ... [c] Election by the Plan Sponsor is a recertification ... [d] Presumptive AFTAP for the following year is based on the actual AFTAP."  MORE >>