JANUARY PLAN SPONSOR CHECKLIST:
• Send payroll and employee census data to the plan’s recordkeeper for plan-year-end compliance testing (calendar-year plans).
• Audit fourth quarter payroll and plan deposit dates to ensure compliance with the Department of Labor’s rules regarding timely deposit of participant contributions and loan repayments.
• Verify that employees who became eligible for the plan between October 1 and December 31 received and returned an enrollment form. Follow up for forms that were not returned.
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