View Full Version : Company failed to match IRA contribution


Figgy412
So the company I used to work for is having financial difficulties. When I quit last October I asked them to match my IRA contribution due to the fact I knew they were in the red. They declined to match at the time. It is in a signed contract that they must match the standard 3% of my income. They have still yet to make the match as of today. I was wondering who I can contact to make sure I get the remaining portion of my IRA money. And if they go belly-up, can they get out of the matching contribution.

pricespector
If it is a SIMPLE IRA (which I assume it is), your employer has until the business tax filing deadline (March 16th if corporate & April 15th individual) to contribute EMPLOYER contributions (match).

To make it worse, it also can include filing extensions, (Sept. 15th corporate/October 15th individual). With this in mind, there is likely little you can do because it is technically not even due for deposit yet.

EMPLOYEE contributions have to be deposited no later than 30 days after the amount becomes payable to the meployee as compensation.

Hope this helps. I would keep a close eye on them.