Client Alert Spring 97 - NEW 401(K) DEPOSIT REQUIREMENTS

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Client Alert - Spring 1997

NEW 401(K) DEPOSIT REQUIREMENTS
by: George E. Barrett, CPA

The Department of Labor (DOL) has issued new regulations concerning 401(k) salary deferrals. Effective February 3, 1997, employers must transfer employee contributions to the plan by the earlier of 15 business days after the end of the month in which the employee deferrals were withheld or the date of the deferrals can reasonably be segregated from the employer's general assets.

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