LLC tax return filed but excluded 2024 401k profit sharing contribution

Hello Alan,

We have a 3 member LLC which one employee. We have a 401k plan.

Our CPA filed our 2024 LLC tax return but forgot to include the 2024 profit sharing contribution on it for our employee.

We want to correct this so we are able to keep our pension plan in compliance for 2024 which would include our 3 members’ 401k contributions and also making a required profit sharing contribution for our employee.

What is the best path forward? Should we file an Administrative Adjustment Report or is there another solution?

Thank you in advance.



Was the contribution made by the deadline and just not reported, or was it not made at all?

In the former case the return should be amended to include the contribution.

Hello Alan – thank you.

It has not been made yet because it was still being calculated by the pension administrator. But the LLC tax return was filed prior to the calculation and the contribution. In hindsight, of course we should have done an extension on the LLC tax return.

We are now ready to make the contribution for the employee. The LLC members’ portions are not due until fall since we filed tax extensions on our personal tax returns so we haven’t made those either.

Our goal is to get those contributions in for 2024 but the CPA is hesitant to amend the LLC tax return (which would be done through AAR?)

The actual application of IRS Regs to this question is debatable, but if you google “ASPPA deadline for employer contributions”, you will see that they make a case that it should be allowable even when no extension was filed.

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