Due date for Sec. 4971 excise taxes postponed

Tax Hot Topics newsletter The IRS issued Announcement 2020-17 postponing until Jan. 15, 2021, the due dates for reporting and paying the excise taxes under Section 4971 for certain delayed minimum required contributions to a single employer defined benefit pension plan.

The CARES Act extended until Jan. 1, 2021, the due dates for paying any minimum required contributions under Section 430(j) (including quarterly installments) that would otherwise be due during calendar year 2020. In the absence of the relief provided in the announcement, the due date for an employer’s reporting and payment of the excise taxes for certain minimum required contributions that are not paid by the extended due date of Jan. 1, 2021, would have been Sept. 15, 2020.

Jeff Martin
Washington National Tax Office
T +1 202 521 1526

Keith Mong
Managing Director
Washington National Tax Office
+1 202 521 1554

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