What do I do if I did not pay employee contributions to our 401(k) for a few pay periods last year?

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What do I do if I did not pay employee contributions to our 401(k) for a few pay periods last year?

2007-02-28 01:22:21 · 2 answers · asked by Marshall 1 in Business & Finance ➔ Small Business

2 answers

Go to jail. The money was taken from the employees' paychecks. By not properly depositing those funds, you stole their money, a very serious offense, and they will get a report from the plan showing the lack of deposits if and when they look the annual report over. You can make amends by replacing the money and any lost interest immediately, but the crime still occurred and you could still go to jail. It decreases the likelihood if you've made restitution.

2007-02-28 01:33:30 · answer #1 · answered by thylawyer 7 · 0⤊ 0⤋

CONTACT YOUR ACCOUNTANT , YOU COULD BACK UP AND PAY.

2007-02-28 09:29:07 · answer #2 · answered by rentwise 1 · 0⤊ 0⤋