Here is an example of a typical allocation timeline:
A sample due date is included in parentheses. The actual order, due dates, and specific items will vary from plan to plan and year to year. - Conduct 2006 Pre-Allocation Planning Meeting (December 1, 2006)
- Review 2005 Timeline and Allocation Process (December 1, 2006)
- Prepare 2006 Timeline and Agree on Dates with All Parties (December 1, 2006)
- Process Benefit Payment Government Filings (January 15, 2007)
- Organize Trust Information (January 15, 2007)
- Organize Census Information (January 31, 2007)
- Determine Eligibility and Perform Preliminary Compliance Testing (February 15, 2007)
- Finalize Trust Accounting (February 15, 2007)
- Perform Preliminary Allocation (March 1, 2007)
- Send Preliminary Diversification Forms to Participants (March 15, 2007)
- Receive and Approve Final Stock Value (March 31, 2007)
- Required Minimum Distribution Due Date (April 1, 2007)
- Finalize Allocation, Compliance Testing, and Participant Statements (April 15, 2007)
- Deliver Participant Statements (April 30, 2007)
- Conduct Employee Meetings (April 30, 2007)
- Complete IRS Form 5500 (April 30, 2007)
- Send Distribution Paperwork to Eligible Participants (April 30, 2007)
- Send Final Diversification Forms to Participants (April 30, 2007)
- Complete ESOP Audit (May 31, 2007)
- File IRS Form 5500 (May 31, 2007)
- Process Distributions and Diversifications (May 31, 2007)
- Conduct 2006 Post-Allocation Planning Meeting (June 30, 2007)
- Ensure all Required Minimum Distributions have been processed (June 30, 2007)
- Notify New Participants (November 15, 2007)
- Required Minimum Distribution Due Date (December 31, 2007)
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