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Handshake  Compliance Calendar

 

401(k) Plans and other tax-qualified retirement plans must comply with a number of tax filing and other important deadlines throughout the year. The list below is a summary of the common compliance deadlines for most calendar-year qualified plans.


Deadline Compliance Task
January 31 Census Data Deadline to return employee census data to JULY to ensure processing by March 15th deadline for those plans requiring ADP/ACP refunds. Clients submitting census after this date would expect that turnaround times on year-end reports to be slower.
January 31 Form 1099R Deadline for distributing IRS Form 1099-R to participants that received a distribution in the prior plan year. For plans using an automated recordkeeping platform, Form 1099-R is usually sent to participants by the provider
February 10 Form 945 Deadline for signing and filing the Form 945 with the IRS. When plans use an automated recordkeeping platform, Form 945 is generally handled by the provider.
March 15 ADP / ACP Refunds Deadline to make corrective distributions to Highly Compensated Employees for traditional 401k Plans that fail the ADP and ACP Test for the prior plan year. Distributions processed after this date will require the Employer to pay a 10% penalty.
March 15 Tax Deductions Deadline for S-Corporations not requesting a tax extension to fund contribution and receive tax deductions on the S-Corporation’s prior year tax return. (Form 1120S)
March 15 Tax Deductions Deadline for partner not requesting a tax extension to fund contributions and receive tax deductions on the prior year tax return. (Form 1065)
March 31 Electronically File Form 1099-R Deadline for the Form 1099-R to be electronically filed with the IRS. This will be completed by the party responsible for your Form 1099-R.
April 1 Large Plans Engage Auditor Suggested deadline for large plan Form 5500 filers to engage an auditor. Plans are generally required to have an audit if they have more than 120 eligible participants on the first day of the plan year or if they filed an audit the prior year and have more than 100 eligible participants the first day of the plan year.
April 15 Excess Contributions Refunds Deadline to refund contributions that exceed the 402(g) deferral limit.
April 15 Tax Deductions Deadline for sole proprietors and c corporations not requesting a tax extension to fund contributions and receive tax deductions on the sole proprietors or C-Corporations prior year tax return. (Form 1040 or Form 1120)
June 30 Year End Report Answers Deadline to provide all necessary information to JULY so that the year-end work can be completed and the Form 5500 will not be extended.
July 15 Complete Large Plan Audit Deadline to provide the audit report to JULY and avoid filing an extension of the Form 5500.
July 31 Form 5500 Deadline Deadline for the Employer to electronically sign the Form 5500 with the Department of Labor. Failure to sign the Form 5500 can result in penalties of up to $1,100 per day.
July 31 Form 5558 Deadline Deadline to file the Form 5558, which extends the Form 5500 filing due date to October 15.
July 31 Form 5330 Deadline to file the Form 5330 which is required when the plan must pay excise taxes generally associated with ADP/ACP refunds made after March 15th or late deferrals.
August 31 Census Deadline Deadline to return all required information to JULY to complete the year-end reports for the plan to ensure the Form 5500 is filed by October 15th and to ensure no additional fees.
September 15 Tax Deductions Extended deadline for S-Corporations and partnerships to fund contributions and receive tax deductions on the S-Corporation’s or partnership’s prior year tax return. (Form 1120S or Form 1065)
September 15 Mid-Year Testing Deadline to submit census information to JULY if you elect to perform mid-year testing for your plan.
September 30 Summary Annual Report Deadline for distributing the Summary Annual Report to participants and beneficiaries for plans who filed the Form 5500 by July 31st.
October 1 Extended Large Plan Audit Extended deadline to provide the large plan audit report to JULY to ensure Form 5500 is filed timely.
October 15 Final Form 5500 Deadline Final deadline for the Employer to electronically sign the Form 5500 with the Department of Labor. Failure to sign the Form 5500 can result in penalties of up to $1,100 per day.
October 15 Tax Deductions Extended deadline for sole proprietors and C-Corporations to fund contributions and receive tax deductions on the prior year’s tax return. (Form 1040 or Form 1120)
December 2 Annual Notice Deadline Deadline to provide annual notices required for Safe Harbor, Qualified Default Investment Accounts or Automatic Contribution Arrangements.
December 10 Distribution Deadline Deadline to provide completed distribution forms to JULY to ensure processing of distributions prior to year-end, including all required minimum distributions (RMD or 70½).
December 15 Extended Summary Annual Report Extended deadline to distribute the SAR to participants and beneficiaries receiving benefits.
December 31 ADP/ACP Refunds Deadline to distribute ADP/ACP refunds for the prior year.