+ 2 ½ months after your Plan Year End (PYE) (March 15th if your plan has a year end of December)

Each year your plan must undergo nondiscrimination testing commonly referred to as ADP/ACP testing. If the plan fails ADP/ACP testing for the plan year, refunds of excess contributions that triggered the testing failures are required. All excess contributions must be refund by March 15th. Otherwise, the Employer must pay an excise tax of 10% of the excess contribution.
If you want Guidant to make these pre-testing calculations, you will need to submit your completed information directly to Guidant no later than six (6) weeks after your PYE for Guidant to calculate your corrections by this deadline. If your plan has a December PYE, this date would be February 13, 2012.

In addition, you are eligible for a $99 recordkeeping fee discount, spread out over the entire year, if you provide Guidant with all of your PYE documentation within 2 ½ months after your PYE.  Remember, it is NEVER too soon to provide Guidant with your year-end information!

+ 3 ½ months after your PYE (April 15th if you are a December PYE)

Each participant of your 401(k) Plan is limited to a maximum elective deferral of $16,500 during the Plan Year 2010 (IRC 402(g)). For participants over the age of 50, catch-up contributions of $5,000 may be made in addition to the $16,500 limit.* The deadline for refunding contributions that exceed these limits is April 15. If an individual made contributions in excess of $16,500 in the 2010 plan year, you will need to submit your completed information directly to Guidant no later than ten (10) weeks after your PYE for Guidant to complete your filing by this deadline. If your plan has a December PYE, this date would be March 11, 2012.

*Please note that for the 2012 calendar year, elective deferral limits have been increased to $17,000 and catch-up contributions have been increased to $5,500.

+ 6 months after your PYE (June 30, if you are a December PYE)

Is the final chance to receive a $49 discount on your recordkeeping fees, spread out over the rest of your plan year.  This discount will be given to any of our clients who get us their information between March 15th and May 31st. 
In addition, Guidant will automatically file a Form 5558 extension on your behalf free of charge should any of your PYE information still be outstanding.  The automatic extension is only for an additional 2 ½ months. Failure to submit the required information in a timely manner may result in substantial monetary penalties, disqualification and even termination of your plan by the IRS and/or DOL.

+ 7 months after your PYE (July 31st if you are a December PYE)

Is the deadline for filing the Form 5500 (the Form required to report the activity of your plan in a given year) without an extension.  We encourage all of our clients to finish their reporting, testing and electronic filing by that date to eliminate concerns about late filings, fees or penalties enforced by the IRS and DOL.

+ 9 ½ months after your PYE (October 15th if you are a December PYE)

Is the extended and final deadline for filing the Form 5500 (the Form required to report the activity of your plan in a given year). If the Form 5500 is not filed by this deadline, the IRS and DOL will assert penalties and fines for filing late.  If Guidant has not received completed information by this time, Guidant can terminate your Recordkeeping Services. You will need to contact Guidant for possible reinstatement procedures at that time.