October Deadline Aug 02
Posted at 16:50h in Uncategorized 0 Comments
Here is a friendly reminder that the Safe Harbor deadline for fiscal year plans always approaches faster than anyone wants it to. October 1st is the magic date for having a plan with a safe harbor provision. This allows for the required time for employee deferrals, while also allowing the employers to defer their maximum according to their age.
Since it can take up to 60 days to be set up at most record-keepers, now is a good time to revisit with your clients or your advisor. Because of that timeline, September 15th would be the latest starting point to meet the Oct. 1 deadline.