| February 2019 | |
|---|---|
| 28th | Form 1099-R – The Form 1099-R is due for any distributions that that occurred during the 2018 calendar year. Note: Participant Loans that are in default may be considered “deemed” distributions and are reportable on Form 1099-R. |
| March 2019 | |
| 15th | ADP/ACP Corrective Testing – This is the deadline for distributing contributions and earnings to participants as corrective measures to ADP and ACP testing for calendar year plans. |
| 15th | Employer Contributions – Profit Sharing and matching contributions must be deposited for 2018 amounts that will be deducted on the employer’s tax return (unless employer returns are on extension). |
| April 2019 | |
| 1st | Required Minimum Distributions – Regulations require that a participant must receive a required minimum distribution (RMD) by April 1st of the year following the year in which the participant attains age 70 ½. Distributions may be delayed until actual retirement unless the participant is a 5% or more owner. |
| 15th | Excess Deferral Amounts – If a participant makes salary deferral contributions in excess of the IRS-issued limits in any calendar year, the plan must return the excess amount plus earnings to the participant by April 15 of the year following the year in which the excess occurred. The limits for 2018 were $18,500, or $24,500 for those age 50 and over if the plan allowed for catch-up contributions. |
This newsletter is intended to provide general information on matters of interest in the area of qualified retirement plans and is distributed with the understanding that the publisher and distributor are not rendering legal, tax or other professional advice. Readers should not act or rely on any information in this newsletter without first seeking the advice of an independent tax advisor such as an attorney or CPA.
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