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2021 ERISA Compliance and Reporting Deadlines

Posted by Wende Wadsworth, CPA on Dec 21, 2020 11:21:01 PM

2021 CalendarAs an employee benefit plan sponsor, you are required to complete a variety of ERISA compliance tasks throughout the year. Your third-party administrator may be engaged to handle some of the tasks for the plan. Here are the 2021 plan year deadlines for some of the most common ERISA compliance tasks:

Send Form 1099-R to plan participants who received
distributions in 2020  

2/1/21

File Form 1099-R with the IRS to report distributions
made in 2020 (if not filing electronically)     
3/1/21
File Form 1099-R with the IRS to report distributions
made in 2020 (if filing electronically)

3/31/21

Process corrective distributions for IRC Section 402(g) and ADP/ACP excesses without 10% excise tax       

4/15/21

Process corrective distributions for failed ADP/ACP test from plan with EACA without 10% excise tax 6/30/21
File Form 5500 and Form 8955-SSA (without extension) or Form 5558 to request a two-and-one-half month extension

7/31/21

File Form 5530 to report and pay excise taxes on prohibited transactions and excess 401(k) plan contributions in 2020    7/31/21
Distribute Summary Annual Report (SAR) to plan participants (without Form 5500 extension) 9/30/21
File Form 5500 and Form 8955-SSA (with extension)

10/15/21

Send 2022 annual 401(k) safe harbor, automatic contribution arrangement, and qualified default investment alternative (QDIA) notices 

12/1/21

Distribute Summary Annual Report (SAR) to plan participants (with Form 5500 extension)  

12/15/21

Complete amendment to convert existing 401(k) plan design to safe harbor design or remove safe harbor status for 2022 plan year

12/31/21

 

Topics: Audit & Assurance

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