Filing and Notice Deadlines for Qualified Retirement and Health and Welfare Plans

more+
less-

[author: R. Ryan Gorman, Atlanta, +1 404 572 4609, rgorman@kslaw.com.]

Employers and plan sponsors must comply with numerous filing and notice deadlines for their retirement and health and welfare plans. Failure to comply with these deadlines can result in costly penalties and excise taxes. To avoid such penalties and excise taxes, employers must remain informed with respect to the filing and notice deadlines associated with their plans.

The filing and notice deadline table below provides key filing and notice deadlines common to calendar year plans. Please note that the deadlines will be different if your plan year is not the calendar year. Please also note that the table does not include all applicable filing and notice deadlines, just the most common ones. King & Spalding is happy to assist you with any questions you may have regarding compliance with the filing and notice requirements for your employee benefit plans.

Deadline

Item

Action

Affected Plans

November 14 (within 45 days after the close of the third quarter)

Benefit Statements for Participant-Directed Plans

Deadline for plan administrator to send third quarter benefit statement to participants in participant-directed defined contribution plans.

Defined Contribution Plans with participant-directed investments

Quarterly Fee Disclosure

Deadline for plan administrator to disclose fees and administrative expenses deducted from participant accounts during the third quarter. Note that the quarterly fee disclosure may be included in the quarterly benefit statement or as a stand-alone document.

 

November 15 (10 ½ months after the end of the plan year)

990 Filings

Deadline for qualified retirement trusts to file Forms 990 or 990-EZ with the IRS for prior year if the trustee obtained a second 3-month extension by filing a Form 8868.

 

Qualified Retirement Plans

December 1 (at least 30 but no more than 90 days before the beginning of the plan year)

 

Safe Harbor Notice

Deadline for plan administrator to distribute safe harbor notification to participants and beneficiaries. This notice must be provided within a reasonable period of time before the beginning of the plan year. The regulations provide a safe harbor of not less than 30 days but not more than 90 days before the beginning of the plan year.

401(k) and 401(m) Plans

 

Auto-Enrollment Notice

 

Deadline for plan administrator to provide annual auto-enrollment notice for plans with qualified automatic contribution arrangements (QACA) or eligible automatic contribution arrangements (EACA). This notice must be provided sufficiently early so that the employee has a reasonable period of time after receipt to make QACA or EACA elections. The preamble to the regulations notes that this timing requirement is deemed to be satisfied if the notice is given at least 30 days but not more than 90 days before the beginning of each plan year.

401(k) Plans with QACA or EACA

December 1 (at least 30 days before the end of the plan year)

Qualified Default Investment Alternative Annual Notice

 

Deadline for plan administrator to provide annual QDIA notice to participants or beneficiaries.

Defined Contribution Plans with participant-directed investments

December 1 (no later than 30 days before participant becomes eligible to diversify employer stock)

Diversification Notice

 

Deadline for plan administrator to provide diversification notice to participants who will first be eligible to divest employer securities on January 1.

Defined Contribution Plans with participant-directed investments in employer stock

December 15 (2 months after the extension for filing Form 5500)

Summary Annual Report (SAR)

 

Deadline for plan administrator to distribute SAR for prior year to participants and beneficiaries, if the IRS granted a 2-month extension for Form 5500 on or before the original Form 5500 deadline.

Defined Contribution Plans

December 31 (last day of plan year following plan year for which contributions were made)

Correction of Excess Contributions & Excess Aggregate Contributions

 

Deadline for plan administrator to make corrective employer contributions or distribute excess contributions (ADP test failure) and excess aggregate contributions (ACP test failure) for the prior year.

401(k) and 401(m) Plans

December 31 (last day of plan year)

Discretionary Amendments

 

Deadline for plan sponsor to adopt discretionary plan amendments for calendar-year plans.

 

Qualified Retirement Plans

Adjusted Funding Target Attainment Percentage (AFTAP) Certification

 

Deadline for actuary to certify a specific AFTAP if a range certification was previously issued.

 

Defined Benefit Plans

December 31 (at least annually)

ERISA §404(c) Disclosures

 

Deadline for plan administrator to distribute notices to participants and beneficiaries if the employer wants to limit fiduciary liability for participant-directed investment decisions.

Defined Contribution Plans with participant-directed investments

December 31

Required Minimum Distributions

 

Deadline for plan administrator to distribute current year’s required minimum distributions under IRC §401(a)(9).

Qualified Retirement Plans



 

Topics:  Deadlines, Employee Benefits, Healthcare, Notice Requirements, Retirement

Published In: Administrative Agency Updates, Finance & Banking Updates, Health Updates, Insurance Updates, Labor & Employment Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© King & Spalding | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »