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CCH® PENSION — 9/08/11

IRS Reminds Retirement Plan Sponsors Of Deadline Dates

from Spencer’s Benefits Reports: The Internal Revenue Service has provided a list of filing dates that apply to calendar-year retirement plans in the next two months. The deadlines, from the Summer 2011 edition of Retirement News for Employers, are as follows:

September 15

• Deadline for making final required minimum contributions for 2010 for money purchase and defined benefit plans.
• Last day to set up a SEP plan for 2010 if the employer files a Form 1120 business tax return and has an extension of the March 15, 2011, filing deadline.
• Last day to elect (or change a standing election) for single-employer defined benefit plans to: (1) use funding balances to offset the minimum required contribution for the 2010 plan year; (2) credit excess contributions for the 2010 plan year to the plan’s prefunding balance; and (3) revoke a previous election to use a funding balance to offset the minimum required contribution for the 2010 plan year, to the extent the election exceeded the full minimum required contribution for the year (only for plans with valuation dates that are not the first day of the plan year).

September 30

• Last day for sponsors of single-employer defined benefit plans to obtain adjusted funding target attainment percentage (AFTAP) certification from the plan’s enrolled actuary to avoid triggering benefit restrictions under IRC Sec. 436 through (at least) the end of 2011. Plan sponsors who do not receive a certified AFTAP notice from their enrolled actuary should review the Sec. 436 benefits restrictions to determine whether additional restrictions apply or if other action is required.

October 15

• Deadline for making third quarter contributions for 2011 to defined benefit plans.
• Last day for single-employer defined benefit plan sponsors to reinstate a standing election made earlier to use funding balances to offset minimum required contributions and/or to add excess contributions to the prefunding balance if the enrolled actuary signing the 2010 Schedule SB is not the same as the enrolled actuary named in the earlier election.

October 17

• Due date for filing the 2010 Form 5500, Form 5500-SF, or Form 5500-EZ if a 2-1/2 month extension request was filed before August 1.

For more information on this and related topics, consult the CCH Pension Plan Guide, CCH Employee Benefits Management, and Spencer's Benefits Reports.

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