January 18, 2017
2017 Calendar of Events for 401(k)/Profit Sharing and Defined Benefit/Cash Balance Plans
1st and 2nd Quarter
- Defined Benefit Plan due dates
- Defined Contribution Plan due dates
- Both due dates
| Jan 15 | Fourth quarterly contribution is due for the 2016 Plan Year (if required). |
| Feb 1 | IRS Form 1099-R must be mailed to all participants who received a distribution in 2016. 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. |
| Feb 3 | 2016 Plan Year data request packages are due back to The Benefit Practice. |
| Mar 15 | S-Corp. and Partnership 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, 2017. For non-safe harbor 401(k) Plans, excise taxes due for failure to make timely correction of failed ADP/ACP testing. |
| Apr 15 | First quarterly contribution is due for the 2017 Plan Year (if required). |
| Apr 18 | C-Corp. and Individual income taxes are due (without extension). Deadline for Plan Sponsor to make Corrective Distributions for 402(g) Excess Deferrals. The Benefit Practice will provide amounts as applicable. |
| Apr 30 | Participant notices are due for certain plans whose January 1, 2017 preliminary AFTAP falls below prescribed thresholds. AFTAP notices are provided by The Benefit Practice. For PBGC‐covered plans with at least 100 participants, Annual Funding Notices covering the 2016 Plan Year must be provided to all participants. These are prepared for you and filed with the PBGC by The Benefit Practice. |
| Jun 30 | Eligible Automatic Contribution Arrangements (EACA), deadline for issuing failed ADP/ACP refund checks. These are processed by your investment platform or financial advisor. |
3rd and 4th Quarter
- Defined Benefit Plan due dates
- Defined Contribution Plan due dates
- Both due dates
| Jul 15 | Second quarterly contribution is due for the 2017 Plan Year (if required). |
| Jul 31 | Must distribute updated Summary Plan Description (SPD) and Summary of Material Modifications (SMM) if any plan amendments became effective during the 2016 Plan Year. The Benefit Practice has filed all IRS Form 5558 – Extensions for Filing IRS Form 5500. Deadline on electronic filing of 2016 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 7/1/2016 – 6/30/2017 plan year: filing date is 2/1/2018.) |
| Sep 15 | 2016 EMPLOYER CONTRIBUTION DEADLINE (Profit Sharing and Defined Benefit Plans) Exception – entities taxed as self‐employed businesses (LLP, LLC, self‐employed, etc.) can deposit employer Profit Sharing and employer matching contributions as late as October 15 (not defined benefit/cash balance contributions). Final deadline to file Corporate tax returns on extension. |
| Sep 30 | Deadline for Plan Sponsor to distribute Summary Annual Reports (SAR) to participants for plans that filed their 2016 IRS Form 5500 by August 1st. |
| Oct 15 | All 2016 Plan Year 401(k)/Profit Sharing Plan contributions are due for entities taxed as self‐employed businesses. Third quarterly contribution is due for the 2017 Plan Year (if required). For PBGC-covered plans with less than 100 participants, Annual Funding Notices covering the 2016 Plan Year must be provided to all participants. These are prepared for you and filed with the PBGC by The Benefit Practice. |
| Oct 16 | Extended deadline for electronic filing of 2016 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 2017 Plan Year. |
| Oct 30 | Participant notices are due for certain plans whose January 1, 2017 final AFTAP falls below prescribed thresholds. AFTAP notices are provided by The Benefit Practice. |
| Dec 1 | Deadline for distributing 401(k) Safe Harbor Notices, Qualified Default Investment Arrangement Notices and Automatic Contribution Arrangement Notices. |
| Dec 15 | Deadline for Plan Sponsor to distribute Summary Annual Reports (SAR) for plans that filed their 2016 IRS Form 5500 after July 31st but by October 15th. |
| Dec 31 | Deadline for Plan Sponsor to make Corrective Distributions for failed ADP/ACP testing with 10% excise tax. |
