January 1st Enrollment Reminder!
It’s already that time of year?!
January 1, 2022 enrollment is around the corner. That means that now is the time to review your employee payroll records to determine which employees will be eligible as of that date. Each newly-eligible employee must be given an enrollment package, summary plan descriptions, and the required 404a-5, safe harbor, default investment notices as applicable. PLEASE NOTE: even if an eligible employee has decided not to participate in the plan, the employee must still complete an enrollment form reflecting this decision. Read More »
Now’s The Time For An Upgrade!
Your Clients May Have Outgrown Their Simple IRAs…Here’s How To Increase Their Deductions, But You Must Act Before The Deadlines
Your clients may have started their businesses with a SIMPLE IRA but most businesses quickly outgrow them and find they need to upgrade to a 401(k) profit sharing plan. Replacing a SIMPLE plan with a 401(k) plan is easy, but you must start the process well before the 12/31/21 deadline. Upgrading your clients to a 401(k) plan offers them several benefits including: Read More »
Important Annual Plan Dates To Remember!
Deadlines and Explanations of Key Events for Qualified 401(k) and Defined Contribution Plans
Let Us Help You Shine With Your Clients!
There are many important requirements for qualified 401(k) and defined contribution plans that occur either during the calendar year or during the plan year. Some examples include participant statements, compliance testing and remittance of plan contributions.
We are providing you with the attached chart which, although not intended to be exhaustive, includes the key annual events which must occur for compliance over the course of the plan year or the calendar year. (For off-calendar year plans the deadlines should be determined accordingly based on the time frames described in the chart.)
There is a lot to monitor and manage, as missing any of these deadlines and/or events can cause headaches for you and your clients. We encourage you to reach out to us so we can help you and your clients navigate these deadlines and requirements, thereby providing your clients with the best possible service.
Download your copy here.
