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kerry-beingfitfi
Level 2
April 7, 2022
Question

Solo 401k/SCorp ques:Accountant filed the 1120-S before the 3-15 deadline, and reported $6k in profit sharing contributions, but funds not deposited.

  • April 7, 2022
  • 1 reply
  • 8 views
So now what? What happens if the $6k contribution is made now? What are the possible ramifications of doing that? What are some options to consider to rectify this? Thanks!
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1 reply

qbteachmt
qbteachmt
Level 15
April 7, 2022

Talk to whoever is administering the plan.

See this: https://www.benefitslawgroupofchicago.com/bulletins/late_401k/

 

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