February 2020
28th Form 1099-R – The Form 1099-R is due for any distributions that occurred during the 2019 calendar year. Note: Participant Loans that are in default may be considered “deemed” distributions and are reportable on Form 1099-R.
March 2020
15th ADP/ACP Corrective Testing – Deadline for distributing contributions and earnings as corrective measures to ADP and ACP testing for calendar year plans. Corrective distributions made after the deadline will result in a 10% excise tax on the amount distributed.
Employer Contributions – Deadline for contributing employer contributions for amounts to be deducted on 2019 S-corporation and partnership returns for filers with a calendar fiscal year (unless extended).
April 2020
1st Required Minimum Distributions – Regulations require that a participant must receive a required minimum distribution (RMD) by April 1st of the year following the year in which the participant attains age 70 ½. Distributions may be delayed until actual retirement unless the participant is a 5% or more owner.
15th Excess Deferral Amounts – If a participant makes salary deferral contributions in excess of the IRS-issued limits in any calendar year, the plan must return the excess amount plus earnings to the participant by April 15 of the year following the year in which the excess occurred. The limits for 2019 were $19,000, or $25,000 for those age 50 and over if the plan allowed for catch-up contributions.
Employer Contributions – Deadline for contributing employer contributions for amounts to be deducted on 2019 C-corporation and sole proprietor returns for filers with a calendar fiscal year (unless extended).

This newsletter is intended to provide general information on matters of interest in the area of qualified retirement plans and is distributed with the understanding that the publisher and distributor are not rendering legal, tax or other professional advice. Readers should not act or rely on any information in this newsletter without first seeking the advice of an independent tax advisor such as an attorney or CPA.

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