Upcoming Compliance Deadlines for Calendar-Year Plans

1st December 2020

Participant Notices

Annual notices due for safe harbor elections, Qualified Default Investment Alternatives (QDIA), and Automatic Contribution Arrangements (EACA or QACA).

31st

ADP/ACP Corrections

Deadline for a plan to make ADP/ACP corrective distributions and/or to deposit qualified nonelective contributions (QNEC) for the previous plan year with a 10% excise tax.

Discretionary Amendments

Deadline to adopt discretionary amendments to the plan, subject to certain exceptions (e.g., anti-cutbacks).

1st January 2021

Defined Benefit Funding

Deadline to deposit the minimum required contribution for the 2020 plan year. Note that this extended deadline was established under the CARES Act for the 2020 plan year.

31st

IRS Form 945

Deadline to file IRS Form 945 to report income tax withheld from qualified plan distributions made during the prior plan year. The deadline may be extended to February 10th if taxes were deposited on time during the prior plan year.

IRS Form 1099-R

Deadline to distribute Form 1099-R to participants and beneficiaries who received a distribution or a deemed distribution during the prior plan year.

IRS Form W-2

Deadline to distribute Form W-2, which must reflect aggregate defined contribution deferrals.

*** The CARES Act gives the DOL the authority to delay retirement plan deadlines due to public health emergencies. The dates above are in effect as of the date of this publication.

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.