401K if deducted from payroll checks how long does employer have to send in the 401k deducted?
- MollyLv 61 decade agoFavorite Answer
The DOL requires that employers deposit participant contributions to the plan as soon as the amounts can be reasonably segregated from the Company's general assets, but no later than the 15th business day of the month following the month in which amounts are contributed by employees or withheld from their wages.
Generally this means the contributions must be remitted almost immediately following the pay period they are withheld in. Not all employers follow this practice.
The employer faces penalties and fines if it does not remit the contributions timely.
- bohrLv 44 years ago
i understand in 401k that I participated some years back they have been to make a contribution month-to-month. i got here across this out with the aid of occurring to the investor and asking them. some plans are quarterly and others are month-to-month to the final of my know-how. you may desire to have an account variety and the telephone variety for the corporation that invests the money, they are going to understand the respond.
- 1 decade ago
I believe they should have 30 days.