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Deduction of Post-Termination Required Funding
BenefitsLink Message BoardsLink to more items from this source
July 26, 2021

"An employer is required to fund additional money due to market fluctuations to pay out the final benefits and close a plan. The date of the funding is past the deduction deadline (9/15/20) for the year of plan termination (2019). Can they deduct the contribution for the year it is made even though the plan was not active for that year? I am being told that it's not deductible for 2020 because they didn't have a plan for 2020."

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