DATES & DEADLINES - January 2023

Retirement Plan Sponsors,

There are a couple dates you need to be aware of in January:

If you are on a Plan Year cycle (1/1 - 12/31) January is Non-Discrimination Testing season for many retirement plans. If the retirement plan recordkeeper you are partnered with has requested end-of-year data, generally they want the information back by January 31st. Certainly, any specific communication from your partner organization trumps a general deadline.

Also, January 31st is the deadline for Form 1099-R to be created and mailed to plan participants who took a distribution from a qualified plan in the last year (2022). This is traditionally handled by that retirement plan recordkeeper partner, or your Third Party Administrator (TPA) relationships unless you’ve been informed otherwise.

Any questions you have about what your responsibilities are towards your organizations 401(k)/403(b) plans? Email me Christina.Tunison@lpl.com.

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