Participant meets the Financial Hardship requirements of the plan. Employer contributions must be made no later than April 15th, plus extensions, for the preceding tax year. This amount would be reduced if the plan were paired with a profit sharing plan. Contributions are mandated annually per the elected percentage. Graded vesting schedule is permitted for plans choosing 1 year of service for eligibility.
Employer can choose to permit employees to take loans if the adoption agreement permits loans.
For the Self-Employed . TD Waterhouse does not provide tax or legal advice. It is recommended that you consult with a tax-planning professional regarding your personal tax situation. Inc. All rights reserved.