Action Dates |
JANUARY
All Plans 31st
1099-R Forms – this form must be issued to participants who received distributions in the prior year.
MARCH
PYE 12/31 15th
ADP/ACP Test Refund – 2 ½ months following the close of the plan year, corrective distributions must be made for failed ADP/ACP tests to avoid an IRS imposed 10% penalty.
FYE 12/31 15th
Contribution Deposit Deadline - 2 1/2 months following the close of the fiscal year is the deadline for depositing employer contributions for S-Corps, Partnerships and Schedule C filers if no extension is filed.
APRIL
All Plans 15th
402(g) Refund – Distributions must be made for participant deferrals that have exceeded the specific dollar limit applicable for each tax year.
FYE 12/31 15th
Contribution Deposit Deadline - 3 1/2 months following the close of the fiscal year is the deadline for depositing employer contributions for corporations if no extension is filed.
JULY
PYE 12/31 31st
Form 5500 & Related Schedules Deadline – 7 months following the close of the plan year, Form 5500 and related schedules are due.
PYE 12/31 31st
Form 5330 – 7 months following the close of the plan year, Form 5330 for payment of excise taxes is due.
PYE 12/31 31st
Form 8955-SSA – 7 months following the close of the plan year, Form 8955-SSA reporting terminated participants with a vested balance is due.
PYE 12/31 31st
Form 5558 – Application for Extension of Time must be filed for Form 5500, Form 5330 and Form 8955-SSA due on 7/31.
SEPTEMBER
FYE 12/31 15th
Final Contribution Deposit Deadline - 8 1/2 months following the close of the fiscal year, is the final deadline for depositing employer contributions for S-Corporations, Partnerships and Schedule C filers if extension was filed.
OCTOBER
PYE 12/31 15th
Form 5500, Form 5330 and Form 8955-SSA Extended Due Date – 9 ½ months following the close of the plan year, Forms with extensions are due.
FYE 12/31 15th
Final Contribution Deposit Deadline - 9 1/2 months following the close of the fiscal year, is the final deadline for depositing employer contributions for Corporations if extension was filed.
DECEMBER
PYE 12/31 31st
ADP/ACP Corrections – 12 months following the close of the plan year, corrective distributions and/or QNEC contributions must be made to prevent plan disqualification. Excise taxes of 10% will be due on corrective distributions.
All Plans 31st
Required Minimum Distribution- distributions made on behalf of owners and terminated/retired employees that have reached the required beginning date age 72.
NOTE: If your plan or corporation does not operate on a calendar year, the dates not labeled as “All Plans” will be different for your plan or company. We have indicated the timing that you should apply to your plan or company.
For more information email info@dbbllc.com or call 315-471-9171 to contact:
Tina D’Agata
Tina is a Senior Manager at Dermody, Burke & Brown in the Retirement Plan Design and Administration department. As an employee at the Firm for over fifteen years, her seasoned experience in the Industry allows her to efficiently design, prepare and administer retirement plans for a variety of clients. Tina personally meets with clients and staff to discuss employee benefit options and assists the CPA Firm with their audits of employee benefit plans. Tina is proactive in her retirement planning approach and attends educational seminars to keep abreast of the many changes that occur within the industry.
Tina is a graduate of Hartwick College and a leading member of Dermody, Burke & Brown’s Young Professional Committee and Wellness Committee. She is a board member and Finance Committee member of the Gingerbread House of Syracuse, a board member and Secretary of the Thousand Island Park Cottage Owners Association, Inc., a member of the United Way of CNY Young Leaders United, and is actively involved with the Blessed Sacrament School. Tina is a 2016 graduate of the Nourishing Tomorrow’s Leaders Program, designed to increase the diversity of not-for-profit boards and leadership in the Central New York area. She is also a 2016 40 Under Forty Honoree.
Mary Beth Madlin
Mary Beth has been with Dermody, Burke & Brown since 1985. As a Senior Manager of the Retirement Plan Design and Administration department, Mary Beth focuses on all facets of retirement planning from plan design to daily administration. She specializes in managing define contribution plans and provides on-going administration of retirement plans for a range of clients.
Mary Beth also provides outside consulting services and reviews plan design, cost structure and administrative practices. Mary Beth is a graduate of Bryant & Stratton College and continues to shape her thirty-two years of knowledge in the industry by attending continuing educational seminars.