Key Dates and Deadlines

Here are the key dates and deadlines that your plan will need to meet over the next few months:

Deadline

Task

Responsible

Action Required

July 12, 2017

Changes to Form 5500

Plan Sponsor

Provide missing information/changes to draft Form 5500 (to meet July 31st deadline).

Mid-July 2017

Second Quarter Plan Participant Statements and Administrative Reports

PNC Retirement Solutions® and
Plan Sponsor

PNC Retirement Solutions will mail Participant statements within 10 business days and upload plan sponsor reports to www.retirementdirections.com within 15 business days. Plan Sponsor should review Terminated Balance and Loan Delinquency reports (if applicable) to identify vested balances that can be paid and loan balances that should be offset with 1099Rs.

July 19, 2017

Signature-ready 5500

PNC Retirement Solutions

Provide completed 5500 to Plan Sponsor if extension was not requested.

July 19, 2017

Required response to Plan Mid-Year Discrimination Testing Package

Plan Sponsor

Respond to and submit the information requested in the mid-year testing package to guarantee timely discrimination testing.

July 31, 2017

Filing deadline for Form 5500 or Form 5558

Plan Sponsor

Mail Form 5500 or Form 5558. Failure to file by this date may result in penalties being levied on the Plan Sponsor by the IRS and/or the DOL.

August 31, 2017

Plan Mid-Year Discrimination Tests

Plan Sponsor

Provide Plan Mid-Year tests and results to sponsors who met the July 19, 2017 deadline.

September 13, 2017

Changes to Form 5500

Plan Sponsor

Provide missing information/changes to extended draft Form 5500 (to meet October 16 deadline).

September 15, 2017

Annual employer contribution (for Plans filing an extension to corporate tax returns)

PNC Retirement Solutions and
Plan Sponsor

Annual employer contribution (for companies who filed a Corporate Tax Extension) must be deposited into the Plan. PNC Retirement Solutions must receive the annual file by September 12, 2017 to enable processing by September 15, 2017.

Click here for a snapshot of the complete 2017 administrative timetable, which outlines tasks and responsibility for 5500 form reporting, testing, and minimum distribution.

Inside Vested Interest®

Return to Current Issue »


To Subscribe

E-mail Us »

Important Legal Disclosures and Information

The material presented in this newsletter is of a general nature and does not constitute the provision by PNC of investment, legal, tax, or accounting advice to any person, or a recommendation to buy or sell any security or adopt any investment strategy. Opinions expressed herein are subject to change without notice. The information was obtained from sources deemed reliable. Such information is not guaranteed as to its accuracy.

The PNC Financial Services Group, Inc. (“PNC”) uses the marketing name PNC Institutional Asset Management® for the various discretionary and non-discretionary institutional investment activities conducted through PNC Bank, National Association (“PNC Bank), which is a Member FDIC, and through PNC’s subsidiary PNC Capital Advisors, LLC, a registered investment adviser (“PNC Capital Advisors”). PNC Bank uses the marketing names PNC Retirement Solutions® and Vested Interest® to provide defined contribution plan services and PNC Institutional Advisory Solutions® to provide discretionary investment management, trustee, and other related services. Standalone custody, escrow, and directed trustee services; FDIC-insured banking products and services; and lending of funds are also provided through PNC Bank. PNC does not provide legal, tax, or accounting advice unless, with respect to tax advice, PNC Bank has entered into a written tax services agreement. PNC does not provide services in any jurisdiction in which it is not authorized to conduct business. PNC Bank is not registered as a municipal advisor under the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Act”). Investment management and related products and services provided to a “municipal entity” or “obligated person” regarding “proceeds of municipal securities” (as such terms are defined in the Act) will be provided by PNC Capital Advisors.

“Vested Interest,” “PNC Institutional Asset Management,” “PNC Retirement Solutions,” and “PNC Institutional Advisory Solutions” are registered service marks of The PNC Financial Services Group, Inc.

Investments: Not FDIC Insured. No Bank Guarantee. May Lose Value.