Magazine

Feature | Published in January 2009

2009 ERISA Compliance Calendar for DB/DC/403(b) Plans

By PS | January 2009
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Here are important dates plan sponsors need to remember for making certain their plans comply with the Employee Retirement Income Security Act (ERISA).

Illustration By Rob Dunlavey

JAN 1 / 403(b) plans must be operated­ in accordance with a reasonable interpretation of §403(b). Written plan document­ not required until 12/31/2009.

JAN  31 / Many recordkeepers require participant data for average deferral percentage (ADP)/average contribution­ percentage (ACP), Top Heavy, and 402(g) compliance testing to be returned by this date.

FEB 2 / Deadline for submitting individually­ designed plans in the third remedial amendment cycle to the IRS determination letter program (Cycle C for employers­ with employer identification numbers that end in 3 or 8 and most governmental plans). Note: The deadline is January 31; however, that date falls on Saturday in 2009.

FEB 2 / Form 1099Rs due to participants to report 2008 distributions. Note: The deadline is typically January 31; however, that date falls on Saturday in 2009.

MAR 2 / PBGC Form 1-ES Estimated Premium Payment (flat-rate premium for plans with >500 participants). Note: This is due by the last day of the second month in the premium payment year.

MAR 2 / Form 1099Rs for 2008 distributions due to IRS if not filed electronically.

MAR 16 / ADP/ACP corrective distri­butions of excess contributions and earnings due to participants. Note: These are usually due on March 15, which falls on Sunday in 2009.

MAR 16 / Forms 1042S and 1042 due to IRS to report retirement plan distributions made to nonresident aliens and income tax withheld from distributions made to nonresident aliens. Note: These are usually due on March 15, which falls on Sunday in 2009.

MAR 16 / 2008 Employer Profit Sharing and Match Contributions due for plans with 12/31 fiscal year-ends in order to take tax deduction (with no corporate tax extension). Note: These usually are due on March 15, which falls on Sunday in 2009.

MAR 16 / Application of Waiver for Minimum­ Funding Standard for defined benefit (DB) and money purchase pension­ plans (due no later than the 15th day of the third month after the close of the plan year for which the waiver is requested). Note: These usually are due on March 15, which falls on Sunday in 2009.

MAR 31 / Electronic filing of 1099Rs for 2008 distributions due to IRS.

APR 1 / Initial age 70½ Minimum Required Distributions due to no-longer-active participants who turned age 70½ in 2008.*

APR 1 / Initial age 70½ Minimum Required Distributions due to active or no-longer-active participants in a ­qualified plan, 403(b) account, or 457 plan who own more than 5% of the ­organization sponsoring the plan.*

APR 15 / 402(g) distributions of excess deferral amounts due to participants.

APR 30 / Annual funding notice to participants, beneficiaries, and labor organizations representing participants­ from plan sponsors of single and multiemployer DB pension plans. Note: Small plans (covering fewer than 100 participants) must provide the notice by the filing due date of the plan's IRS Form 5500. This notice takes the place of the summary annual report for a DB plan.

* As we went to press, there was no change in 2008 RMD requirements.