Resources

Upcoming Compliance Deadlines

September 30^th

• Summary annual reports are due to participants from plans with a December 31 year-end—i.e., due nine months after the plan year-end or two months after filing Form 5500 (unless Form 5500 filing is extended).

October 2^nd

• Start of the period to disseminate annual notices to participants, including the 401(k) safe harbor, automatic contribution arrangement (ACA), qualified automatic contribution arrangement (QACA), safe harbor and qualified default investment alternative (QDIA).

October 15^th 

• IRS deadline for filing the retroactive amendment to correct an Internal Revenue Code Section 410(b) coverage or Section 401(a)(4) nondiscrimination failure.
• Deadline for filing Form 5500 after a plan files Form 5558 to request an extension.

November14^th

• Deadline for participant-directed defined contribution plans to provide participants with quarterly benefit/disclosure statement and statement of plan fees and expenses charged to individual plan accounts during third quarter of the year. Note: Due 45 days after the end of the quarter.

November 15^th

• Summary annual reports due to participants if the Form 5500 deadline was extended because of a corporate tax filing extension.

December 1^st

• Final deadline to disseminate the 401(k) safe harbor annual notice to plan participants.
• Final deadline for supplying the QDIA annual required notice to all participants who were defaulted into a QDIA no more than 30 days prior to the beginning of the plan year.
• Final deadline to provide participants with the annual automatic enrollment and default investment notices; these may be combined with the QDIA notice.
• Deadline to elect safe harbor status for the current plan year with non-elective contributions if the non-elective contribution is less than 4% of compensation.

December 16^th

• Extended deadline for providing summary annual reports to participants if the Form 5500 deadline was extended because of filing Form 5558.

December 31^st

• 2024 RMDs are due.
• Deadline for correcting a failed ADP/ACP test.
• Deadline to adopt discretionary amendments to the plan, subject to certain exceptions—e.g., anti-cutbacks.
• Deadline for a safe harbor plan to remove its safe harbor status for the following year or for an existing defined contribution plan to convert to a safe harbor plan.
• Deadline to elect safe harbor status for the prior plan year with a nonelective contribution of 4% or more of compensation.