January 8, 2016
2016 Calendar of Events - 1st and 2nd Quarter
- Defined Benefit Plan due date
- Defined Contribution Plan due date
- Both due
| Jan 15 | Fourth quarterly contribution is due for the 2015 Plan Year (if required). |
| Jan 30 | 2015 Plan Year data request packages are due back to The Benefit Practice. |
| Feb 1 | IRS Form 1099-R must be mailed to all participants who received a distribution in 2015. These are prepared either automatically by your investment platform or, if using a brokerage account, The Benefit Practice, or your CPA. Please Confirm that these Forms are being prepared, if necessary. |
| Mar 15 | Corporate taxes are due (without extension). For non-safe harbor 401(k) Plans, deadline for issuing failed ADP/ACP refund checks. These are processed by your investment platform or financial advisor. |
| Mar 31 | Summary Plan Description (SPD) must be given to new participants who entered the Plan on January 1, 2016. For non-safe harbor 401(k) Plans, excise taxes due for failure to make timely correction of failed ADP/ACP testing. |
| Apr 15 | Deadline for Corrective Distributions for 402(g) Excess Deferrals. Partnership and Individual income taxes are due (without extension). First quarterly contribution is due for the 2016 Plan Year (if required). |
| Apr 29 | Participant notices are due for certain plans whose January 1, 2016 preliminary AFTAP falls below prescribed thresholds. Notices covering the 2014 Plan Year must be provided to all participants. These are prepared for you and filed with the PBGC by The Benefit Practice. |
| Jun 30 | Arrangements (EACA), deadline for issuing failed ADP/ACP refund checks. These are processed by your investment platform or financial advisor. |
2016 Calendar of Events – 3rd and 4th Quarter
- Defined Benefit Plan due date
- Defined Contribution Plan due date
- Both due
| Jul 15 | Second quarterly contribution is due for the 2016 Plan Year (if required). |
| Aug 1 | Must distribute updated Summary Plan Description (SPD) and Summary of Material Modifications (SMM) if any plan amendments became effective during the 2015 Plan Year. The Benefit Practice has filed all IRS Form 5558 – Extensions for Filing IRS Form 5500. Deadline on electronic filing of 2015 IRS Form 5500 & related attachments for Calendar Year plans not placed on extension. For non-calendar year plans, the initial IRS Form 5500 filing deadline is 7 months after the end of the plan year. e.g. For a 7/1/2015 – 6/30/2016 plan year: filing date is 2/1/2017. |
| Sep 15 | 2015 EMPLOYER CONTRIBUTION DEADLINE (Profit Sharing and Defined Benefit Plans) Exception – entities taxed as self-employed businesses (LP, LLC, etc.) Profit sharing contributions can be deposited as late as October 15. |
| Sep 30 | Deadline for distributing Summary Annual Reports (SAR) to participants for plans that filed their 2015 IRS Form 5500 by August 1st. |
| Oct 14 | For profit sharing plans covering entities taxed as self-employed businesses, all contributions for the 2015 Plan Year are due. Third quarterly contribution is due for the 2016 Plan Year (if required). For PBGC-covered plans with less than 100 participants, Annual Funding Notices covering the 2015 Plan Year must be provided to all participants. These are prepared for you and filed with the PBGC by The Benefit Practice. |
| Oct 17 | Extended deadline for electronic filing of 2015 IRS Form 5500 and related attachments. Final deadline to file Partnership and individual income tax returns on extension. For PBGC-covered plans, final PBGC premiums are due for the 2016 Plan Year. |
| Oct 28 | Participant notices are due for certain plans whose January 1, 2016 final AFTAP falls below prescribed thresholds. |
| Dec 1 | Deadline for distributing Safe Harbor Notices, Qualified Default Investment Arrangement Notices and Automatic Contribution Arrangement Notices. |
| Dec 15 | Deadline for distributing Summary Annual Reports (SAR) for plans that filed their 2015 IRS Form 5500 after July 31st and by October 15th. |
| Dec 31 | Corrective Distribution for failed ADP/ACP testing with 10% excise tax. |
