Important Dates and Contribution Limits
As a fiduciary, you wear a lot of hats! To keep a company running like a well-oiled machine can be tricky when there are many important dates and deadlines to remember.
Use this helpful guide to highlight a few of the top compliance deadlines and most-asked-about contribution limits.
2024 Retirement Plan Updates
ANNUAL TIMELINE
January 3rd week
PlanPerfect emails out Annual Data Request. This includes:
- Census request: dates of birth/hire/ termination for all employees including hours
- W2’s
- Partnership K1’s
- Is a corporate entity or partnership going on extension?
March
S-Corp, C-Corps, Partnerships
If NOT on extension, then the contribution is due March 15th
April
Sole Proprietor
If NOT on extension, then the contribution is due April 15th
September
S-Corp, C-Corps, Partnerships
If ON extension, then the contribution is due Sept 15th
October
Sole Proprietor
If ON extension, then the contribution is due October 15th
IMPORTANT DATES & DEADLINES
March 15th
ADP/ACP¹ Testing Deadline to avoid excise taxes unless EACA² for the full year
July 31st
Form 5500 Filing Deadline (without extension)
Oct 15th
Form 5500 Filing Deadline (with extension)
Dec 1st
Deadline: Sending annual 401(k) and safe harbor match notice
CONTRIBUTION LIMITS FOR EMPLOYEES
- 401(k) – $23,000
- Catch Up for employees age 50 or older – $7,500
- HCE
Highly Compensated Employees (in the prior year) – $155,000
- Profit Sharing – $69,000
$76,500 (50+)
Contact Our Retirement Plan Administrators Today
If you have questions about upcoming retirement plan dates, deadlines, or limits, don’t hesitate to reach out to PlanPerfect Retirement for more information and help with the administration of your business’s retirement plan.
As a fiduciary, you wear A LOT of hats. It can be difficult to keep all the dates and deadlines straight. Contact PlanPerfect with any questions at [email protected] or call us at 949-223-8397.
*The deadlines in this calendar are for plans with calendar-year plan years. If the filing deadline falls on a Saturday, Sunday, or legal holiday, the DOL provides that filing dates are delayed until the next business day.
¹ Actual Deferral & Actual Contribution Percentage
² Eligible Automatic Contribution Arrangements
For Plan Sponsor Use Only – Not for Use with Participants or the General Public
This information was developed as a general guide to educate plan sponsors and is not intended as authoritative guidance or tax/legal advice. Each plan has unique requirements, and you should consult your attorney or tax advisor for guidance on your specific situation.