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The Money Mustache Community
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Investor Alley
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401(k) effective contribution date
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Topic: 401(k) effective contribution date (Read 1458 times)
Paul der Krake
Walrus Stache
Posts: 5854
Age: 16
Location: UTC-10:00
401(k) effective contribution date
«
on:
December 14, 2016, 09:27:31 AM »
My new employer takes his sweet time to send over contributions to the 401(k) custodian- more than a week.
My last paycheck of the year will be Friday, December 30th.
It will still be counted as 2016 contribution. Right?
(please say yes)
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dandarc
Walrus Stache
Posts: 5485
Age: 41
Pronouns: he/him/his
Re: 401(k) effective contribution date
«
Reply #1 on:
December 14, 2016, 09:28:14 AM »
Yes. It is when it is withheld from your pay.
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VoteCthulu
Bristles
Posts: 409
Re: 401(k) effective contribution date
«
Reply #2 on:
December 14, 2016, 11:06:07 AM »
Sometimes Vanguard shows contributions for the year based on when they receive it, but the official number for taxes is on your w-2 and should be based on the paycheck date.
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Paul der Krake
Walrus Stache
Posts: 5854
Age: 16
Location: UTC-10:00
Re: 401(k) effective contribution date
«
Reply #3 on:
December 14, 2016, 01:35:18 PM »
Awesome. Bean counters FTW.
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VoteCthulu
Bristles
Posts: 409
Re: 401(k) effective contribution date
«
Reply #4 on:
December 14, 2016, 03:32:01 PM »
Also, watch out for your employer (or the payroll company) sending paychecks a day early or late near holidays or fiscal year end. I've seen it a couple times, although it's never been a problem yet.
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401(k) effective contribution date