| 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). |
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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