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Ignore the 5500 Instructions: 403(b) Plans DON'T Use Form 5330 for Late Deposits

A continuing confusion regarding how Internal Revenue Code Section 401(a) rules apply to 403(b) plans involves the reporting rules related to the correction and reporting on the Form 5500 of one of the most common errors in any elective deferral plan: the late deposit of those deferrals into the plan. In MarketBeat, Robert Toth offers some insights regarding how to handle that.