Are You Late?
Are your employees’ deferrals being deposited in a timely manner to their 401(k) accounts? This is one of the top compliance issues the IRS has noted over the past several years in 401(k) plans. The Department of Labor (DOL) has ruled that employee deferrals to large 401(k) plans (those that have one hundred or more eligible employees) are to be submitted by the fifteenth business day of the month following the month in which the contribution is withheld from the employees’ w