Resources

Connection Point

We know that if we do our job right, you’ll be more effective at yours. Our suite of helpful tools, information and materials help you stay on top of important deadlines. Connection Point is also where you can keep up with the latest trends and industry events, grow your understanding of financial topics and access links to other helpful sites.

Retirement Plan Compliance Calendar

Date Item Action
January 1 Fidelity Bond Fidelity Bond should generally provide coverage of at least 10% of the plan assets with a minimum $1,000 and a maximum requirement of 500,000.
January 31 Form 1099-R Deadline for sending Form 1099-R to participants who had a distribution in the prior calendar year
February 28 Form 1099-R Deadline for filing Form 1099-R with the IRS to report distributions made in the prior calendar year
March 15 Corrective Distributions Corrective distributions for a failed ADP/ACP test must be made to participants within 2 ½ months after the plan year-end in order for employers to avoid a 10% excise tax. These distributions are taxable in the year distributed.
March 15 Employer Contributions Employer contributions (i.e. match, profit sharing) due for prior year in order to be deductible for prior year. Deadline coincides with corporate tax return due date of 2 1/2 months after tax year end unless extended.
April 1 Required Minimum Distributions Initial distributions due to participants who attained age 70.5 in the previous calendar year and (1) terminated employment, or (2) are 5% owners.
April 15 Corrective Distribution of 402(g) Excess employee deferrals made during the prior calendar year to defined contribution plans must be refunded in order to avoid adverse tax consequences. Excess deferrals are those that are over the 402(g) limit.
June 30 Corrective Distributions for EACA Plans For plans satisfying the eligible automatic contribution arrangement (EACA) requirements, corrective distributions due to a failed ADP/ACP test must be made to participants within 6 months after the plan year-end to avoid 10% excise tax on employer. These distributions are taxable in the year distributed.
July 31 Form 5500 Form 5500 Annual Return and related schedules must be filed electronically to the DOL by the last day of the 7th month following the plan year-end.
July 31 Form 5558 Form 5558 Application for Extension must be filed with the IRS for plans seeking to extend their Form 5500 deadline by 2 1/2 months.
September 15 Employer Contributions Extended deadline for Employer contributions (i.e. match, profit sharing) for prior year in order to be deductible for prior year. Deadline coincides with the extended corporate tax return due date.
September 30 Summary Annual Report Summary Annual Report (SAR) must be provided to participants by the last day of the 9th month for plans that filed Form 5500 by the last day of the 7th month following plan year-end.
October 2 Annual Notices Notice period begins for plans that satisfy the requirements as an automatic contribution arrangement (ACA), eligible automatic contribution arrangement (EACA), qualified automatic contribution arrangement (QACA), or design-based safe harbor plan. Annual notices are due no more than 90 and not less than 30 days before the beginning of the plan year.
October 2 Annual Notices Notice period begins for plan taking advantage of the DOL’s Qualified Investment Alternative (QDIA) guidance. Annual notices are due no more than 90 and not less than 30 days before the beginning of the plan year.
October 15 Form 5500 Form 5500 Annual Return and related schedules must be filed electronically to the DOL within 9 ½ months following the plan year-end for plans that timely filed a Form 5558 extension.
October 15 Qualified Non-Elective Contribution (QNEC) QNEC’s for prior plan year are due if to be counted in prior year’s 415 testing limits, and if corporate tax return was extended to September 15. The deadline is 30 days past the due date for the corporate tax return.
October 15 Retroactive Amendments Regulatory correction period ends (retroactive amendments) for failed coverage, general nondiscrimination, or participation testing.
December 1 Annual Notices Notice period ends for ACA, EACA, QACA , QDIA and design-based safe harbor plans. Notices must be provided at least 30 days before the beginning of the plan year.
December 15 Summary Annual Report Summary Annual Report (SAR) must be provided to participants for plans that filed a timely Form 5558 extension and filed Form 5500 within 9 ½ months following plan year end.
December 31 Corrective Distributions Corrective distributions for a failed ADP/ACP test must be made by the last day of the plan year following the year of failure
December 31 Qualified Non-Elective Contribution (QNEC) Deadline for contributing QNEC’s for prior plan year (12 months after end of plan year). Given that this is past October 15, these are counted as annual additions for the current plan year.
December 31 Required Minimum Distributions Last day to make subsequent required minimum distribution payments to participants who attained 70.5 in a prior calendar year and (1) terminated employment, or (2) are 5% owners.
December 31 Amendments Discretionary amendment deadline for current plan year (i.e. testing methods such as current year/prior year, top paid group, etc.).
  • Deadlines for IRS Forms are extended to the next business day if the due date falls on a weekend or holiday.
  • Deadlines in blue are as listed, regardless of plan year
  • All other deadlines are applicable for calendar year plans (12/31) and would adjust with a different plan year-end.

IRS Limits Table

2012 2011 2010
Annual Compensation $250,000 $245,000 $245,000
Elective Deferrals – 401(k), 403(b), 457(b) $17,000 $16,500 $16,500
Catch-up Contributions $5,500 $5,500 $5,500
Defined Contribution Limits $50,000 $49,000 $49,000
ESOP Limits $1,015,000 $985,000 $985,000
Defined Benefit Limits $200,000 $195,000 $195,000
HCE Threshold $115,000 $110,000 $110,000
Key Employee/Officer $165,000 $160,000 $110,000
Key Employee/Officer $150,000 $150,000 $150,000
Taxable Wage Base $110,100 $106,800 $106,800

News

Industry News

Archived Newsletters/Articles

Education Materials

Industry Links

Fidelity Bond/Fiduciary Bond