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

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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 2013 filing and notice deadlines common to calendar year plans for the next two months. 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

May 14

(within 45 days after the close of the first quarter of plan year)

 

 

Benefit Statements for Participant-Directed Plans

Deadline for plan administrator to send benefit statement for the first quarter of the plan year to participants in participant-directed defined contribution plans.

 

 

Defined Contribution Plans that allow participants to direct investments

May 15

(the 15th day of the 5th month after the end of the plan year)

IRS Forms 990
and 990-EZ

Deadline for tax-exempt trusts associated with qualified retirement plans and voluntary employee beneficiary associations (VEBAs) to file Forms 990 or 990-EZ with the IRS for prior year. A 3-month extension may be obtained by filing a Form 8868, which must be filed by this date.

 

 

Qualified Retirement Plans*

Voluntary Employee Beneficiary Associations

June 30

(last day of 6th month following the plan year)

Excess Contributions

Deadline for plan administrator to distribute EACA excess contributions and earnings from the prior year to avoid 10% excise tax.

 

401(k) Plans with EACA

*Qualified Retirement Plans include all defined benefit and defined contribution plans that are intended to satisfy Code §401(a).

The contents of this newsletter and any attachments are not intended to be and should not be relied upon as legal advice. If you are not currently on our Employee Benefits & Executive Compensation Practice mailing list under your own name, and you would like to join to receive our monthly Compensation & Benefits Insights publication and to receive notices of future programs and occasional commentaries on new legal developments in the industry, you can make that request by submitting your full contact information to CBI@kslaw.com.

Author, Ryan Gorman, Atlanta, +1 404 572 4609, rgorman@kslaw.com

Topics:  Excise Tax, Health Plan Sponsors, Penalties, Qualified Health Plans, Retirement Plan

Published In: Finance & Banking Updates, Health Updates, Insurance Updates, Labor & Employment Updates, Tax 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.

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