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Important 401(k) Compliance Dates and Deadlines

This chart will help you stay informed of important dates and deadlines associated with your 401(k) plan.

By Betterment Editors

Published Oct. 20, 2021 | Updated Sep. 20, 2022

Important 401(k) Compliance Dates and Deadlines Sep 20, 2022 10:32:00 AM This chart will help you stay informed of important dates and deadlines associated with your 401(k) plan. Offering a 401(k) plan has many benefits - for your organization as well as for your employees! Administering said 401(k) can be tricky though, and plan sponsors have several responsibilities to keep their plan operating in compliance with federal regulations. Note that there may be additional state regulations that your plan may need to say in compliance with as well that are not captured in this chart. Thankfully, Betterment is here to help. Some tasks are handled by Betterment, but others need to be done by the plan sponsor. This chart provides you with important dates and deadlines associated with administering your plan for the 2021 and 2022 calendar years. Date Responsibility For 2021 Plan Year For 2022 Plan Year Jan 13, 2022 Betterment & Plan Sponsor Betterment loads prior year census template and compliance questionnaire to Compliance Hub. Action Item: Plan Sponsor completes census template and compliance questionnaire. Jan 31, 2022 Betterment IRS Forms 1099-R available to participants. Jan 31, 2022 Plan Sponsor Action Item: Deadline to submit prior year census data and compliance questionnaire to Compliance Hub. Feb 10, 2022 Betterment Annual Return of Withheld Federal Income Tax (Form 945) due. Feb 14, 2022 Betterment Deadline to send quarterly participant statements (typically sent within a few days of quarter end). Mar 1, 2022 Plan Sponsor Deadline for Plan Sponsors to report employees who participated in multiple plans that have excess deferrals (402(g) excess) to Betterment. Mar 15, 2022 Betterment & Plan Sponsor Deadline for refunds to participants for failed ADP/ACP tests(s). Action Item: Plan Sponsor to approve corrective action by this date. Failure to meet this deadline could result in a 10% tax penalty for plan sponsors. Mar 15, 2022 Plan Sponsor Employer contributions (e.g., profit sharing, match, safe harbor) due for deductibility for S-Corps and LLCs taxed as Partnerships. Mar 15, 2022 Plan Sponsor Deadline for S-Corps and Partnerships to establish traditional (non-Safe Harbor) plan for the prior tax year unless tax deadline extended. Apr 1, 2022 Plan Sponsor Action Item: Deadline to confirm that Initial Required Minimum Distributions (RMDs) were taken by participants who turned 72 before previous year-end, are retired/terminated and have a balance. Apr 15, 2022 Plan Sponsor Employer contributions (e.g., profit sharing, match, safe harbor) due for deductibility for C-Corps, LLCs taxed as C-Corps, sole proprietorships. Apr 15, 2022 Plan Sponsor Deadline for C-Corps and Sole Props to establish traditional (non-SH) plan for the prior tax year unless tax deadline extended. Apr 15, 2022 Betterment Deadline to complete corrective distributions for 402(g) excess deferrals. May 15, 2022 Betterment Deadline to send quarterly participant statements (typically sent within a few days of quarter end). Jun 30, 2022 Betterment Deadline for EACA plan refunds to participants for failed ADP/ACP tests(s). Failure to meet this deadline could result in a 10% tax penalty for plan sponsors. Jul 29, 2022 Plan Sponsor Deadline to distribute Summary of Material Modifications (SMM) to participants (only if plan was amended). Jul 31, 2022 Betterment & Plan Sponsor Cycle 3 DC plan restatement deadline. Betterment to prepare plan documents for execution. Action Item: Deadline for Plan Sponsor to electronically sign restated document. Aug 1, 2022 Betterment & Plan Sponsor Deadline to electronically submit Form 5500 (and third-party audit if applicable) OR request an extension (Form 5558). Betterment to prepare Forms. Action Item: Plan Sponsor required to file electronically. Aug 1, 2022 Plan Sponsor For new plans only: Deadline to sign with Betterment to establish a new safe harbor plan for 2022. Deferrals must be started by 10/1/22. Aug 14, 2022 Betterment Deadline to send quarterly participant statements (typically sent within a few days of quarter end). Sep 15, 2022 Plan Sponsor Deadline for S-Corps and Partnerships to establish traditional (non-SH) plan for the prior tax year if tax deadline extended. Sep 30, 2022 Plan Sponsor Action Item: Deadline to distribute Summary Annual Report (SAR) to participants and beneficiaries (unless Form 5500 extension filed; deadline to distribute will be December 15). Oct 1, 2022 Plan Sponsor Deadline to establish a new safe harbor 401(k) plan. The plan must have deferrals for at least 3 months to be safe harbor for this plan year. Oct 15, 2022 Plan Sponsor Deadline for C-Corps and Sole Props to establish traditional (non-SH) plan for the prior tax year if tax deadline extended. Oct 17, 2022 Plan Sponsor Deadline to electronically submit Form 5500 (and third-party audit if applicable) if granted a Form 5558 extension. Betterment to prepare Forms. Action Item: Plan Sponsor required to file electronically. Nov 2, 2022 Plan Sponsor Deadline to notify SIMPLE IRA participants their plan will terminate December 31 in order to adopt a new 401(k) plan for 2023. One company cannot sponsor a SIMPLE IRA and a 401(k) plan at the same time. Nov 14, 2022 Betterment Deadline to send quarterly participant statements (though typically sent within a few days of quarter end). By Dec 1, 2022 Betterment & Plan Sponsor Annual Notices (listed below) prepared by Betterment and sent to Plan Sponsor. Action Item: Plan Sponsor to Disseminate paper copies if required. Dec 1, 2022 Plan Sponsor If applicable, deadline to distribute to participants for 2023 plan year: - Safe harbor notice - Qualified default investment alternative (QDIA) notice - Automatic enrollment notice Dec 1, 2022 Plan Sponsor Deadline to execute amendment to make traditional plan a 3% safe harbor nonelective plan for the 2022 plan year. Dec 1, 2022 Plan Sponsor Deadline to execute amendment to make a traditional plan a safe harbor match plan for the 2023 plan year. Dec 15, 2022 Plan Sponsor Action Item: Deadline to distribute Summary Annual Report (SAR) to participants, if granted a Form 5558 extension. Dec 31, 2022 Plan Sponsor Deadline to distribute ADP/ACP refunds for the prior year; a 10% excise will apply Deadline to fund a QNEC for plans that failed ADP/ACP compliance testing. Deadline to execute amendment to make traditional plan a 4% safe harbor nonelective plan for the 2021 plan year. Dec 31, 2022 Plan Sponsor Deadline to make safe harbor and other employer contributions for 2021 plan year. Dec 31, 2022 Plan Sponsor Action Item: Deadline for Annual Required Minimum Distributions (RMDs).

This chart will help you stay informed of important dates and deadlines associated with your 401(k) plan.

Offering a 401(k) plan has many benefits - for your organization as well as for your employees! Administering said 401(k) can be tricky though, and plan sponsors have several responsibilities to keep their plan operating in compliance with federal regulations. Note that there may be additional state regulations that your plan may need to say in compliance with as well that are not captured in this chart.

Thankfully, Betterment is here to help. Some tasks are handled by Betterment, but others need to be done by the plan sponsor. This chart provides you with important dates and deadlines associated with administering your plan for the 2021 and 2022 calendar years.

Date	Responsibility	For 2021 Plan Year	For 2022 Plan Year
Jan 13, 2022	Betterment & Plan Sponsor	Betterment loads prior year census template and compliance questionnaire to Compliance Hub. Action Item: Plan Sponsor completes census template and compliance questionnaire.
Jan 31, 2022	Betterment	IRS Forms 1099-R available to participants.
Jan 31, 2022	Plan Sponsor	Action Item: Deadline to submit prior year census data and compliance questionnaire to Compliance Hub.
Feb 10, 2022	Betterment	Annual Return of Withheld Federal Income Tax (Form 945) due.
Feb 14, 2022	Betterment		Deadline to send quarterly participant statements (typically sent within a few days of quarter end).
Mar 1, 2022	Plan Sponsor	Deadline for Plan Sponsors to report employees who participated in multiple plans that have excess deferrals (402(g) excess) to Betterment.
Mar 15, 2022	Betterment & Plan Sponsor	Deadline for refunds to participants for failed ADP/ACP tests(s). Action Item: Plan Sponsor to approve corrective action by this date. Failure to meet this deadline could result in a 10% tax penalty for plan sponsors.
Mar 15, 2022	Plan Sponsor	Employer contributions (e.g., profit sharing, match, safe harbor) due for deductibility for S-Corps and LLCs taxed as Partnerships.
Mar 15, 2022	Plan Sponsor	Deadline for S-Corps and Partnerships to establish traditional (non-Safe Harbor) plan for the prior tax year unless tax deadline extended.
Apr 1, 2022	Plan Sponsor	Action Item: Deadline to confirm that Initial Required Minimum Distributions (RMDs) were taken by participants who turned 72 before previous year-end, are retired/terminated and have a balance.
Apr 15, 2022	Plan Sponsor	Employer contributions (e.g., profit sharing, match, safe harbor) due for deductibility for C-Corps, LLCs taxed as C-Corps, sole proprietorships.
Apr 15, 2022	Plan Sponsor	Deadline for C-Corps and Sole Props to establish traditional (non-SH) plan for the prior tax year unless tax deadline extended.
Apr 15, 2022	Betterment	Deadline to complete corrective distributions for 402(g) excess deferrals.
May 15, 2022	Betterment		Deadline to send quarterly participant statements (typically sent within a few days of quarter end).
Jun 30, 2022	Betterment	Deadline for EACA plan refunds to participants for failed ADP/ACP tests(s). Failure to meet this deadline could result in a 10% tax penalty for plan sponsors.
Jul 29, 2022	Plan Sponsor	Deadline to distribute Summary of Material Modifications (SMM) to participants (only if plan was amended).
Jul 31, 2022	Betterment & Plan Sponsor		Cycle 3 DC plan restatement deadline. Betterment to prepare plan documents for execution. Action Item: Deadline for Plan Sponsor to electronically sign restated document.
Aug 1, 2022	Betterment & Plan Sponsor	Deadline to electronically submit Form 5500 (and third-party audit if applicable) OR request an extension (Form 5558). Betterment to prepare Forms. Action Item: Plan Sponsor required to file electronically.
Aug 1, 2022	Plan Sponsor		For new plans only: Deadline to sign with Betterment to establish a new safe harbor plan for 2022. Deferrals must be started by 10/1/22.
Aug 14, 2022	Betterment		Deadline to send quarterly participant statements (typically sent within a few days of quarter end).
Sep 15, 2022	Plan Sponsor	Deadline for S-Corps and Partnerships to establish traditional (non-SH) plan for the prior tax year if tax deadline extended.
Sep 30, 2022	Plan Sponsor	Action Item: Deadline to distribute Summary Annual Report (SAR) to participants and beneficiaries (unless Form 5500 extension filed; deadline to distribute will be December 15).
Oct 1, 2022	Plan Sponsor		Deadline to establish a new safe harbor 401(k) plan. The plan must have deferrals for at least 3 months to be safe harbor for this plan year.
Oct 15, 2022	Plan Sponsor	Deadline for C-Corps and Sole Props to establish traditional (non-SH) plan for the prior tax year if tax deadline extended.
Oct 17, 2022	Plan Sponsor	Deadline to electronically submit Form 5500 (and third-party audit if applicable) if granted a Form 5558 extension. Betterment to prepare Forms. Action Item: Plan Sponsor required to file electronically.
Nov 2, 2022	Plan Sponsor		Deadline to notify SIMPLE IRA participants their plan will terminate December 31 in order to adopt a new 401(k) plan for 2023. One company cannot sponsor a SIMPLE IRA and a 401(k) plan at the same time.
Nov 14, 2022	Betterment		Deadline to send quarterly participant statements (though typically sent within a few days of quarter end).
By Dec 1, 2022	Betterment & Plan Sponsor		Annual Notices (listed below) prepared by Betterment and sent to Plan Sponsor. Action Item: Plan Sponsor to Disseminate paper copies if required.
Dec 1, 2022	Plan Sponsor		If applicable, deadline to distribute to participants for 2023 plan year: - Safe harbor notice - Qualified default investment alternative (QDIA) notice - Automatic enrollment notice
Dec 1, 2022	Plan Sponsor		Deadline to execute amendment to make traditional plan a 3% safe harbor nonelective plan for the 2022 plan year.
Dec 1, 2022	Plan Sponsor		Deadline to execute amendment to make a traditional plan a safe harbor match plan for the 2023 plan year.
Dec 15, 2022	Plan Sponsor	Action Item: Deadline to distribute Summary Annual Report (SAR) to participants, if granted a Form 5558 extension.
Dec 31, 2022	Plan Sponsor	Deadline to distribute ADP/ACP refunds for the prior year; a 10% excise will apply Deadline to fund a QNEC for plans that failed ADP/ACP compliance testing.	Deadline to execute amendment to make traditional plan a 4% safe harbor nonelective plan for the 2021 plan year.
Dec 31, 2022	Plan Sponsor		Deadline to make safe harbor and other employer contributions for 2021 plan year.
Dec 31, 2022	Plan Sponsor		Action Item: Deadline for Annual Required Minimum Distributions (RMDs).