Upcoming Compliance Deadlines for Calendar-Year Plans
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Upcoming Compliance Deadlines for Calendar-Year Plans
February 28th
IRS Form 1099-R Copy A – Deadline to submit Form 1099- R Copy A to the IRS for participants and beneficiaries who received a distribution or a deemed distribution during the prior plan year . This deadline applies to scannable paper filings . For electronic filings , the due date is April 1 , 2024 , as the typical March 31 deadline falls on a weekend .
March 15th
ADP / ACP Corrections - Deadline to process corrective distributions for failed ADP / ACP tests without a 10 % excise tax for plans without an Eligible Automatic Contribution Arrangement ( EACA ).
Employer Contributions - Deadline for employer contributions for amounts to be deducted on 2023 S-corporation and partnership returns for filers with a calendar fiscal year ( unless extended ).
April 1st
Required Minimum Distributions - Normal deadline to distribute a required minimum distribution ( RMD ) for participants who attained age 72 during 2023 .
April 15th
Excess Deferral Correction - Deadline to distribute salary deferral contributions plus related earnings to any participants who exceeded the IRS 402 ( g ) limit on salary deferrals . The limits for 2023 were $ 22,500 , or $ 30,000 for those age 50 and over if the plan allowed for catch-up contributions .
Employer Contributions - Deadline for employer contributions for amounts to be deducted on 2023 C-corporation and sole proprietor returns for filers with a calendar fiscal year ( unless extended ).
REA & ASSOCIATES BENEFIT INSIGHTS | WINTER 2024 4