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Defined benefit plan reminder: deadline for Funding Notices
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The Annual Funding Notice ("AFN") requirement applies to plan years starting after
December 31, 2007. A calendar year plan with 100 or more participants must
provide participants an AFN within 120 days of the Plan Year end (i.e. by April 30,
2009 for a calendar year plan). Smaller plans may defer distribution until the date
on which they make a timely 5500 filing for 2008.
DOL Field Assistance Bulletin 2009-01 contains guidance and sample AFNs
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This article is provided as a courtesy and may not be relied upon as legal
advice, or to avoid taxes and penalties. Distribution to promote, market, or
recommend any arrangement or investment to avoid or evade taxes, including
penalties, is expressly forbidden. Any communication with the author as to its
contents, does not, of itself, create a lawyer-client relationship. Under the
ethical rules applicable to lawyers in some jurisdictions, this may be considered
advertising.
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