NMU's Compliance Database - Northern Michigan University
Qualified Pensions
| Reviewed By | Internal Auditor Owner |
| Regulation Reference Cite | 26 U.S.C. § 401 |
| Report Due Date (Actual) | Refer to Description |
| Level | Requirement |
| Oversight Unit | HUMAN RESOURCES |
| Person Responsible | Rhea Dever |
| Secondary Person Responsible | |
| President / VP Level | Finance |
| Description |
A trust created or organized in the United States and forming part of a stock bonus, pension, or profit-sharing plan of an employer for the exclusive benefit of his employees or their beneficiaries shall constitute a qualified trust. Reporting due by the Administrator by the last day of 7th month after end of plan year. An automatic extension of up to 2½ months may be obtained by filing Form 5558 with the IRS before the return/reports regular due date. |
| Contacts and Data Sources |
| https://www.irs.gov/pub/irs-drop/rr-08-40.pdf |
| Internal Notes |
| This compliance item has notes that are available internally to the oversight unit. Please contact the Risk Management Department for more information |