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Discussion:Deadline for Depositing Plan Deferrals

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Discussion Forum Index --> Advanced Tax Questions --> Deadline for Depositing Plan Deferrals


Discussion Forum Index --> Tax Questions --> Deadline for Depositing Plan Deferrals

TTMM (talk|edits) said:

31 July 2008
I was reading an article from a local pension administrator discussing a clarification in the time frame for depositing employee deferrals by implementing a seven business day safe harbor.

My question is how this relates to a Simple plan. Pub 590 says you have 30 days to make the contributions. So does the seven day safe harbor apply to a simple plan for a small employer?

LH2004 (talk|edits) said:

July 31, 2008
What page in Pub. 590?

TTMM (talk|edits) said:

31 July 2008
Oops. Pub 560. Page 11

Riley2 (talk|edits) said:

31 July 2008
No, the proposed 7-day safe-harbor applies only to ERISA plans with less than 100 participants. Although a SIMPLE plan may be an ERISA plan, Sec. 408(p) has its own rules which are not affected by the DOL proposals.

TTMM (talk|edits) said:

31 July 2008
Thanks so much.

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