For plans with a plan year end of 12/31, a communication will be distributed asking if assistance is needed for contribution calculation and/or nondiscrimination test for the 2019 plan year.

The Program will be closed in observance of Martin Luther King, Jr. Day.

The IRS Form 1099-R is mailed to all participants who received distributions in 2019.

If you sponsor a 401(k) plan and/or your firm is a corporation: Return the Employee Contribution Census to the Program. Check, correct and complete the Employee and Contribution Census after receiving it via email from the Program. If you have not previously provided the Program with a participant’s termination or rehire date, or your newly eligible employees, use the census to do so. Census Materials: What Are They Used For? The census materials help the Program gather information it needs…

The Program will be closed in observance of the holiday.

401(k) Plans: Any excess contributions and excess aggregate contributions which resulted from a failure of the annual nondiscrimination tests must be distributed by March 15, or your firm will incur a 10% excise tax on the amount of the excess contributions and excess aggregate contributions which were not timely distributed. If your firm’s plan fails the nondiscrimination tests and needs to distribute excess salary deferral contributions to affected participants, you will need to submit the Corrective Measures for Contributions Form to…

S-Corporations and Partnerships: 2019 employer contributions for your firm’s plan should be sent to the Program by March 15. If your firm extends its income tax return due date by six months, you will have until September 16 (this statement assumes your corporation’s tax year is a calendar year). Remember that you may have assets in your plan’s forfeiture reserve account that either may be used to offset your contribution or can be reallocated to eligible participants, depending on your…

All plans: Required minimum distributions for 2019 must be made for participants who attained age 70½ in 2019. Participants who attained age 70½ in 2019 and who are no longer employed by the firm will be required to receive their first distribution (for 2019) by April 1, 20120 and their distribution for 2020 by December 31, 2020. If the RMD is not made in a timely manner, the participant may be liable for a 50% excise tax. Each participant who…

The Program will be closed in observance of the holiday.

401(k) Plans: Necessary participant distributions of excess salary deferrals and their earnings as a result of exceeding salary deferral limits through the end of 2019 must be reported to the Program and paid to the participants by April 15. You will need to submit the Corrective Measures for Contributions Form to do so. To add this deadline to your Outlook calendar just click this link and save the meeting reminder: https://voyadelivers.com/aba/ics/2020/04152020_401k_corrective_measures.ics

Sole Proprietors and Corporations: 2019 employer contributions for your firm’s plan should be sent to the Program by April 16. If your firm receives an extension of its income tax return due date, you will have until October 17. Remember that you may have assets in your plan’s forfeiture reserve account that either may be used to offset your contribution or can be reallocated to eligible participants, depending on your election in the plan’s Adoption Agreement. A Contribution Confirmation Report…

The Program will be closed in observance of the holiday.

Form 5500: What You Need to Know* The Department of Labor (DOL) requires that Form 5500 be filed electronically. For all Program plan sponsors, the Program coordinates this process by offering a Web-based system called eFile. eFile connects plan sponsors to EFAST2, the DOL’s website for receiving Form 5500 submissions. eFile allows the Program to prepare and store your signature-ready Form 5500 for you to access, review and file directly with the DOL. The Program will publish your Form 5500…

401(k) Plans: Plans with an eligible automatic contribution arrangement (an “EACA”) must distribute excess contributions and excess aggregate contributions by June 30 to participants, or those firms will incur a 10% excise tax on the amount of the excess contribution and excess aggregate contribution which were not timely distributed. For more information on auto-enrollment features, please refer to the flyer in the Plan Design Options. Notify the Program of any necessary refunds by submitting the Corrective Measures for Contributions Form…

The Program will be closed in observance of the holiday.

All Plans: If there was a change to your firm’s plan during 2019, send participants a revised Summary Plan Description (SPD) or Summary of Material Modifications (SMM) by July 28.   To add this deadline to your Outlook calendar just click this link and save the meeting reminder: https://voyadelivers.com/aba/ics/2020/07282020_all_send_ppts_revised_spd.ics