Upcoming compliance deadlines:

2/15     Quarterly benefit statements and participant fee disclosure due for defined contribution plans with calendar year plans

2/29*   Deadline for filing paper 2020 Form 1099 with IRS (electronic filing deadline is March 31)

3/15     Deadline for making corrective distribution for failed 2020 actual deferral percentage (ADP) / actual contribution percentage (ACP) tests without 10% excise tax penalty

3/15     Deadline for filing 2020 corporate tax return and making contributions eligible for deductibility without extension

4/1       Deadline for taking first required minimum distribution for participants attaining age 70½ or retiring after age 70½ in prior year

4/15     Deadline for corrective distribution of 2020 Section 402(g) excess deferral failures

4/15     Deadline for filing 2020 individual and/or partnership tax returns and making contributions eligible for deductibility without extension

* This date reflects an extension of the normal deadline, which falls on a Sunday this year.


As always, we hope you enjoy this edition of our newsletter and we look forward to receiving your feedback. Should you have any questions regarding the information contained in the attached materials or our Employee Benefit Plan Services, please feel free to contact me directly.



About the Author: Michael Giess

Michael is a Partner in the Audit and Business Advisory Services Group, joining Insero from PricewaterhouseCoopers. He has significant experience servicing private and public companies in the manufacturing, service, retail, and wholesale/distribution sectors. Michael also served as Director of Internal Audit for an upstate New York company where he was responsible for establishing an internal audit function and developing the overall audit plan.


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