October 13, 2022

Year-end Deadline Approaching to Implement & Fund a Qualified Plan

Submit all documents - in good order - no later than October 31!

If you are working with business owner clients to implement (and fund) a qualified plan by year end, note that you will need to have all documents submitted to your TPA (in good order) no later than October 31st.

While the SECURE Act allows your business owner client the ability to implement employer funded qualified plans (Profit Sharing, Defined Benefit, etc.) up until your client’s tax filing deadline, due to TPA constraints, if you wish to have the plan implemented and funded prior to December 31st you’ll need to have all documents submitted to your TPA by October 31st.

For more details on how to implement a qualified plan, please refer to

Advanced Markets Digital Playbook on
QUALIFIED RETIREMENT PLANS

 

TC128803(0922)1

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National Life Group® is a trade name of National Life Insurance Company, Montpelier, VT, Life Insurance Company of the Southwest, Addison, TX, and their affiliates. Each company of National Life Group is solely responsible for its own financial condition and contractual obligations. Life Insurance Company of the Southwest is not an authorized insurer in New York and does not conduct insurance business in New York.

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