Find details about the required date for adopting an employer-sponsored retirement plan. This is important for any employer considering this benefit option.

If an employer adopts a stock bonus, pension, profit-sharing, or annuity plan after the close of a taxable year but before the time prescribed by law for filing the return of the employer for the taxable year (including extensions thereof), the employer may elect to treat the plan as having been adopted as of the last day of the taxable year (SECURE ACT Sec 201(a)(2)). Effective for tax years after December 31, 2019.