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February Compliance Calendar for Retirement Plans and Other Benefit Plans

January 31, 2020

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Thanks IslerDare PC for providing a checklist of 2020 compliance deadlines, covering retirement plans along with other health and welfare benefit plans.

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Here are key February Deadlines for 2020:

Date Action
February 1 Confirm

401(k)/403(b) plan recordkeepers have provided Q 4 2019 quarterly statements to participants, including fee disclosure information (deadline is February 15)

February 28 Confirm retirement plan recordkeepers have filed Forms 1099-R (due date is March 31 if filing electronically)
February 28 File ACA* information reporting returns (Forms 1094-C and 1095-C) for 2019 (due date is March 31 if filing electronically)
February 28 PBGC** Form 1 ES estimated premium payment (flat-rate premium for plans with over 500 participants) is due to the PGBC
February 29 Complete online disclosure to CMS*** regarding “creditable coverage” status for prescription drug coverage to Medicare Part D individuals


Other February Projects:

  • Work with FSA/ 125 plan recordkeepers or brokers to perform applicable nondiscrimination testing, including 105(h) testing, 125 testing, and 129 testing for 2019 and projected testing for 2020
  • Hold quarterly meeting of Benefits Committee to review 2019 year-end investment performance, fees, plan administration data, and plan operational issues
  • Evaluate retirement plan design changes under “SECURE Act”

* ACA – Affordable Care Act

** PBGC – Pension Benefit Guaranty Corporation

*** CMS – The Centers for Medicare & Medicaid Services

#retirementplan #fulcrumpartners #SECUREAct

This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, accounting, legal or tax advice. Any tax advice contained herein is of a general nature. You should seek specific advice from your tax professional before pursuing any idea contemplated herein.

Securities offered through Lion Street Financial, LLC (LSF) and Valmark Securities, Inc. (VSI), each a member of FINRA and SIPC. Investment advisory services offered through Lion Street Advisors, LLC (LSA) and Valmark Advisers, Inc. (VAI), each an SEC registered investment advisor. Please refer to your investment advisory agreement and the Form ADV disclosures provided to you for more information. VAI/VSI and LSF/LSA are non-affiliated entities and separate entities from OneDigital and Fulcrum Partners.

Unless otherwise noted, VAI/VSI, LSF/LSA are not affiliated, associated, authorized, endorsed by, or in any way officially connected with any other company, agency or government agency identified or referenced in this document.

Lion Street Advisors // Lion Street Financial

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