Compliance and Administration

How quickly do employee contributions need to be deposited?

Employee deferrals must be deposited into the plan as soon as they can reasonably be separated from the company's general assets. The Department of Labor provides a safe harbor for smaller plans that treats deposits made within seven business days as timely, though many plans deposit faster. Late deposits are a common compliance issue and can require correction, so deposit timing is worth watching closely.

NOTICE OF DISCLAIMER Investment advisory services offered through Global Retirement Partners, LLC, dba Retirement Impact, LLC, an SEC registered investment advisor. Global Retirement Partners, LLC (GRP) dba Retirement Impact, LLC is not a law or accounting firm, and therefore they cannot provide legal or tax advice. The information herein is provided for general information only, and is not intended to constitute legal or tax advice as to an organization's or individual's specific circumstances. Subsequent developments may result in this information becoming outdated or incorrect. It is your obligation to seek current information. You should consult an attorney, accountant, or other legal or tax professional regarding the application of the general information provided here to your organization's specific situation in light of your or your organization's particular needs.

NOTICE OF DISCLAIMER Investment advisory services offered through Global Retirement Partners, LLC, dba Retirement Impact, LLC, an SEC registered investment advisor. Global Retirement Partners, LLC (GRP) dba Retirement Impact, LLC is not a law or accounting firm, and therefore they cannot provide legal or tax advice. The information herein is provided for general information only, and is not intended to constitute legal or tax advice as to an organization's or individual's specific circumstances. Subsequent developments may result in this information becoming outdated or incorrect. It is your obligation to seek current information. You should consult an attorney, accountant, or other legal or tax professional regarding the application of the general information provided here to your organization's specific situation in light of your or your organization's particular needs.

NOTICE OF DISCLAIMER Investment advisory services offered through Global Retirement Partners, LLC, dba Retirement Impact, LLC, an SEC registered investment advisor. Global Retirement Partners, LLC (GRP) dba Retirement Impact, LLC is not a law or accounting firm, and therefore they cannot provide legal or tax advice. The information herein is provided for general information only, and is not intended to constitute legal or tax advice as to an organization's or individual's specific circumstances. Subsequent developments may result in this information becoming outdated or incorrect. It is your obligation to seek current information. You should consult an attorney, accountant, or other legal or tax professional regarding the application of the general information provided here to your organization's specific situation in light of your or your organization's particular needs.