Funding Due Date Approaching!
August 1, 2022 | posted in: Accountants | by Frye Retirement
For Your Clients On Extension
In order for a contribution allocated in 2021 to qualify as a 2021 tax deduction, an employer must typically fund the contribution by the due date of its tax return, including extensions.
However, even though some employers may be able to extend the filing of their return until October 15, 2022 if they sponsor Defined Benefit Plans, including Cash Balance Plans, there is a Statutory Funding deadline of September 15, 2022.
Don’t hesitate to reach out if you have questions.
