2022 Compliance Reminders for Calendar Plan Year 2022

To download our printable 2021 Compliance Calendar, click here.

To download our printable 2022 Compliance Calendar, click here.

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Deadline Compliance Task
January 1 Update your retirement plan Compliance Processing systems for the 2022 cost of living adjusted contribution and benefit limits, such as the increase in the amount of recognized compensation for retirement plan purposes from $290,000 in 2021 to $305,000 in 2022. For defined benefits plans, the 415(b)(1) annual benefit increases from $230,000 to $245,000.
January 1 Update: If the sponsor of a qualified pension plan wishes to rehire a retired employee to fill an unforeseen hiring need related to the COVID-19 pandemic, the sponsor should analyze the impact of the rehire under the plan by taking into account any plan terms, including any need for plan amendments, relating to rehires. For example, plan sponsors should review any plan terms requiring that an individual who retires and commences benefit distributions not be rehired within a specified period, any plan terms relating to the suspension of distributions upon rehire, and any other plan terms that may have an impact on the pension benefit of a rehire.
January 1 Plan sponsors need to continue tracking the eligibility service of nonunion, long-term, part-time employees who have attained the plan’s minimum age requirement and have three consecutive 12-month periods of 500 hours of service as these employees must be eligible to make elective deferrals to their employer’s 401(k) plan. Plan sponsors can choose to apply the new eligibility rules to employer contributions that are subject to vesting requirements. But then for vesting purposes, the plan sponsor must generally consider each 12-month period for which the employee has at least 500 hours of service starting from the employee’s date of hire—including years beginning prior to January 1, 2021.
January 15 Minimum funding requirements for defined benefit, money purchase, and target benefit plan years ended April 30, 2021 must be met by January 15, 2022 in order to avoid excise taxes or operational failures. An electronic transfer must be completed, or a check mailed, by this date..
January 15 Deadline for defined benefit plans that have a funding shortfall for the preceding plan year to make their last required quarterly contribution for 2021 to the plan trust, i.e., due 15 days after the last plan year quarter-end.
January 17 Retirement plan employer contributions are due in order to be deducted on employer tax returns due to be filed January 17, 2022.
January 17 Form 5500 Series/8955-SSA – Forms that are on extension are due for the plan year ended March 31, 2021.
January 31 Form 5500 Series/8955-SSA – Forms are due for the plan year ended June 30, 2021 that aren’t on extension.
January 31 The deadline for providing the 2021 Form 1099-R to plan participants and beneficiaries is January 31, 2022. for scannable paper filings.
February 15 Minimum funding requirements for defined benefit, money purchase, and target benefit pension plan years ended May 31, 2021 must be met by February 15, 2022 in order to avoid excise taxes or operational failures. An electronic transfer must be completed, or a check mailed, by this date.
February 15 Retirement plan employer contributions are due in order to be deducted on employer tax returns due to be filed February 15, 2022.
February 15 Form 5500 Series/8955-SSA – Forms that are on extension are due for the plan year ending April 30, 2021.
February 28 Form 5500 Series/8955-SSA – Forms are due for the plan year ending July 31, 2021 that aren’t on extension.
February 28 Form 1099-R/Copy A must be filed with the IRS by February 28, 2022.
March 15 Minimum funding requirements for defined benefit, money purchase, and target benefit pension plan years ended June 30, 2021 must be met by March 15, 2022 to avoid excise taxes or operational failures. An electronic transfer must be completed, or a check mailed, by this date.
March 15 Calendar year 401(k) plans must process corrective distributions for failed nondiscrimination tests to avoid a 10% penalty tax. Certain automatic enrollment plans have until June 30, 2022.
March 15 Retirement plan employer contributions are due to be deducted on employer tax returns due to be filed March 15, 2022.
March 15 Form 5500 Series/8955-SSA – Forms that are on extension are due for the plan year ending May 31, 2021.
March 15 Deadline to apply to the IRS for a waiver of the minimum funding standard for defined benefit pension plans and money purchase pension plans. This application to the IRS is due no later than 2 ½ months after the end of the applicable plan year, i.e., no later than the 15th day of the third month after the close of the plan year for which the waiver is requested. For calendar year plans, the deadline is March 15.
March 15 Deadline for retroactive plan document amendment to increase pension plan retirement benefits and related employer contributions for the immediately preceding calendar plan year, under IRC Section 412(d)(2).
March 31 Form 5500 Series/8955-SSA – Forms are due for the plan year ending August 31, 2021 that aren’t on extension.
March 31 Deadline for the pension plan’s enrolled actuary to prepare the funding adequacy related AFTAP calculation to avoid a presumed 10% funding adjustment.
March 31 Deadline for 2021 Form 1099-R forwarded to the IRS via electronic filings
April 1 Initial required minimum distribution (RMD) for those terminated participants or 5% owners who have attained age 72 or older during 2021.
April 1 Actuary Certification of 2022 AFTAP to avoid presumption that such a pension funding sufficiency calculation, the AFTAP, is 10% less than the corresponding AFTAP for the 2021 calendar year. Such a decrease in the presumed 2022 AFTAP could cause benefit payment and other restrictions.
April 15 Minimum funding requirements for defined benefit, money purchase, and target benefit plan years ended July 31, 2021, must be met by April 15 in order to avoid excise taxes or operational failures. An electronic transfer must be completed or a check mailed by this date.
April 15 Retirement plan employer contributions are due in order to be deducted on employer tax returns due to be filed April 15, 2022.
April 15 Form 5500 Series/8955-SSA – Forms that are on extension are due for the plan year ended June 30, 2021.
April 15 Distribute excess deferrals for participant retirement plan deferrals over $19,500 in 2021 by April 15, 2022. Amounts timely distributed are taxable in the calendar year deferred, while the associated earnings on these excess deferrals, are taxable in the year distributed. This timely distribution is exempt from the 10% early distribution penalty tax, and the 20% federal income tax withholding.
April 15 Deadline for defined benefit pension plans, with a funding deficiency for the preceding plan year, to make their first quarterly funding contribution for the 2022 calendar plan year.
May 2 Form 5500 Series/8955-SSA – Forms are due for the plan year ended September 30, 2021 that aren’t on extension.
May 15 Minimum funding requirements for defined benefit, money purchase, and target benefit pension plan years ended August 31, 2021 must be met by May 15 in order to avoid excise taxes or operational failures. An electronic transfer must be completed or a check mailed by this date.
May 15 Section 401(k), and other participant investment directed retirement plan accounts, should provide benefit statements to participants within 45 days after the end of the preceding quarter.
May 16 Retirement plan employer contributions are due in order to be deducted on employer tax returns due to be filed May 16, 2022.
May 16 Form 5500 Series/8955-SSA – Forms that are on extension are due for the plan year ending July 31, 2021.
June 15 Minimum funding requirements for defined benefit, money purchase, and target benefit pension plan years ended September 30, 2021, must be met by June 15 to avoid excise taxes or operational failures. An electronic transfer must be completed or a check mailed by this date.
June 15 March 31 plan year 401(k) plans must process corrective distributions for failed nondiscrimination tests to avoid a 10% penalty tax.
June 15 Retirement plan employer contributions are due to be deducted on employer tax returns due to be filed June 15, 2022.
June 15 Form 5500 Series/8955-SSA – Forms that are on extension are due for the plan year ending August 31, 2021.
June 29 Comply with Employee Stock Ownership Plan (ESOP) related diversification requirements for certain ESOP participants.
June 30 Expiration of IRS special accommodation that allowed remote electronic notarization and witnessing of retirement plan participant retirement plan benefit elections.
June 30 Deadline for the pension plan’s enrolled actuary to prepare the funding adequacy related AFTAP calculation for a March 31 plan year end to avoid a presumed 10% funding adjustment.
June 30 Form 5500 Series/8955-SSA – Forms are due for the plan year ending November 30, 2021 that aren’t on extension.
June 30 Under the SECURE ACT, retirement plan benefit statements furnished to Defined Contribution (Profit Sharing, 401(k), etc.) participants must include specified Lifetime Income Disclosures. There is an exception for one participant defined contribution plans.
Participant-Directed Individual Account Plans – Individual account plans with participant-directed investments on calendar plan years must furnish the first income illustration as part of a quarterly statement no later than the quarter ending June 30, 2022. For off-calendar plan years, see the DOL’s Temporary Implementing FAQs, Pension Benefit Statements – Lifetime Income Illustrations Interim Final Rule issued July 26, 2021 and Field Assistance Bulletin 2006-3.
July 15 Minimum funding requirements for defined benefit, money purchase, and target benefit plan years ended October 31, 2021 must be met by July 15 in order to avoid excise taxes or operational failures. An electronic transfer must be completed or a check mailed by this date.
July 15 Retirement plan employer contributions are due in order to be deducted on employer tax returns due to be filed July 15, 2022.
July 15 Form 5500 Series/8955-SSA – Forms that are on extension are due for the plan year ended September 30, 2021.
July 15 Deadline for defined benefit pension plans, with a funding deficiency for the preceding plan year, to make their second quarterly funding contribution for the 2022 calendar plan year.
July 31 Deadline for qualified Defined Contribution retirement plan documents (such as Profit Sharing, 401(k), and Money Purchase Pension plans) to be amended for Cycle 3 document restatements. Please contact your FuturePlan Consultant with questions.
August 1 Form 5500 Series/8955-SSA – Forms are due for the 2021 calendar plan year that aren’t on extension.
August 1 Form 5558 – IRS Extension form for the Form 5500 series for 2021 calendar plan years, which will extend their Form 5500 series return until October 17, 2022.
August 15 Minimum funding requirements for defined benefit, money purchase, and target benefit pension plan years ended November 30, 2021 must be met by August 15 in order to avoid excise taxes or operational failures. An electronic transfer must be completed or a check mailed by this date.
August 15 Section 401(k), and other participant investment directed retirement plan accounts, should provide benefit statements to participants within 45 days after the end of the preceding quarter.
August 15 Retirement plan employer contributions are due in order to be deducted on employer tax returns due to be filed August 15, 2022.
August 15 Form 5500 Series/8955-SSA – Forms that are on extension are due for the plan year ending October 31, 2021.
August 31 Form 5500 Series/8955-SSA – Forms are due for the plan year ending January 31, 2022 that aren’t on extension.
September 15 Minimum funding requirements for defined benefit, money purchase, and target benefit pension plan years ended December 31, 2021, must be met by September 15 to avoid excise taxes or operational failures. An electronic transfer must be completed, or a check mailed by this date.
September 15 June 30, 2022, plan year 401(k) plans must process corrective distributions for failed nondiscrimination tests to avoid a 10% penalty tax.
September 15 Retirement plan employer contributions are due to be deducted on employer tax returns due to be filed September 15, 2022.
September 15 Form 5500 Series/8955-SSA – Forms that are on extension are due for the plan year ending November 30, 2021.
September 15 Under the SECURE Act, certain calendar year employers (S-Corporations and partnerships) now have until the due date of their income tax return, as extended, to establish a stock bonus, pension, profit sharing or annuity plan for the prior year. Please note, one cannot retroactively establish a 401(k) feature of a profit-sharing plan. Thus, a 401(k) feature must be established before the first elective 401(k) deferral is made. Other employer entity types have their own deadlines to retroactively establish a qualified retirement plan. Please contact your FuturePlan Consultant with questions.
September 30 Deadline for the pension plan’s enrolled actuary to prepare the funding adequacy related to the 2022 AFTAP calculation for a calendar year end to avoid certain plan level restrictions.
September 30 Form 5500 Series/8955-SSA – Forms are due for the plan year ending February 28, 2022 that aren’t on extension.
October 1 Imposition of defined benefit pension plan benefit restrictions if the AFTAP hasn’t been certified for the current calendar plan year. This assumes that the plan administrator hasn’t elected to use the prior plan year’s AFTAP percentage.
October 15 Deadline for defined benefit pension plans, with a funding deficiency, to make their third quarterly funding contribution for the 2022 calendar plan year.
October 15 Deadline for a corrective (11-g) amendment to the plan document to cure certain coverage, participation, and non-discrimination requirements on behalf of the prior 2021 calendar year end.
October 17 Under the SECURE ACT, retirement plan benefit statements furnished to Defined Contribution (Profit Sharing, 401(k), etc.) participants must include specified Lifetime Income Disclosures. There is an exception for one participant defined contribution plans.
  • Non-Participant-Directed Individual Account Plans – Individual account plans on calendar plan years that do not provide participants with the opportunity to direct investments must include the lifetime income illustrations on the annual statement issued for the for the 2021 calendar year, which is normally provided no later than October 17, 2022. For off-calendar plan years, see the DOL’s Temporary Implementing FAQs, Pension Benefit Statements – Lifetime Income Illustrations Interim Final Rule issued July 26, 2021 and Field Assistance Bulletin 2007-3.
October 17 Retirement plan employer contributions are due in order to be deducted on employer tax returns due to be filed October 17, 2022.
October 17 Form 5500 Series/8955-SSA – Forms that are on extension are due for the plan year ended December 31, 2021.
October 17 Deadline for payment of Pension Benefit Guaranty Corporation (PBGC) insurance premiums for defined benefit plans with a calendar plan year end.
October 31 Form 5500 Series/8955-SSA – Forms are due for the March 31, 2022 plan year that aren't on extension.
November 15 Retirement plan employer contributions are due in order to be deducted on employer tax returns due to be filed November 15, 2022.
November 15 Form 5500 Series/8955-SSA – Forms that are on extension are due for the plan year ending January 31, 2022.
November 15 Section 401(k), and other participant investment directed retirement plan accounts, should provide benefit statements to participants within 45 days after the end of the preceding quarter.
November 30 Form 5500 Series/8955-SSA – Forms are due for the April 30, 2022 plan year that aren't on extension.
December 1 Safe harbor notices for calendar 2022 Section 401(k)/403(b) safe harbor plans, using the employer match design, are required to be distributed to plan participants in order to satisfy the timing requirement in federal regulations.
December 15 September plan year 401(k) plans must process corrective distributions for failed nondiscrimination tests to avoid a 10% excise tax.
December 15 Retirement plan employer contributions are due to be deducted on employer tax returns due to be filed December 15, 2022.
December 15 Form 5500 Series/8955-SSA – Forms that are on extension are due for the plan year ending February 28, 2022.
December 31 Deadline for qualified retirement plan documents to be amended for SECURE Act , and CARES Act legislation. Please contact your FuturePlan Consultant with questions.
December 31 Deadline for pension plan’s enrolled actuary to calculate a specific funding adequacy/AFTAP calculation if a range AFTAP was previously issued.
December 31 Recommended deadline to draft and execute discretionary amendments to the controlling retirement plan document on behalf of the 2022 calendar plan year.
December 31 Deadline for certain RMDs for retirement plan participants who attain age 72. Please contact your FuturePlan Consultant.
December 31 Deadline to make corrective distributions relating to 2021 calendar year failed ADP/ACP tests. Please note, a 10% excise tax may apply to such corrective distributions.
December 31 Deadline for correcting a prior year 2021 calendar year end ADP/ACP test failure with an Employer Qualified Non-Elective Contribution (QNEC).
December 31 Deadline for electing to be a safe harbor 401(k) plan for the prior calendar year end, assuming the Plan Sponsor agrees to at least a 4% non-elective safe harbor contribution.

 

This calendar highlights important, but not all, compliance dates for retirement plan administrators. Due to pending Federal legislation, changes may occur. Please contact your FuturePlan Consultant with questions about compliance dates for your retirement plan. Note: The dates are based on a calendar year plan unless otherwise noted.