Phillip M. Wenger, C.P.A., A Sole Proprietor - Page 9




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          requirements of section 401(a), such language cannot serve to               
          turn an otherwise late contribution into a timely one.                      
               Notwithstanding the foregoing, petitioner relies on IRS                
          Publication 560, Retirement Plans for the Self-Employed (Pub.               
          560) for the proposition that for the purpose of minimum funding            
          standards, contributions can be retroactively applied to the                
          previous year if the contributions are made by the due date of              
          the employer’s return plus extensions.  Although Pub. 560 does              
          provide that the last date for contribution to a plan such as the           
          Wenger plan is the due date of the employer’s return plus                   
          extensions, that language appears under the heading                         
          “Contributions” and deals with the deductibility of such                    
          contributions by the employer.  Section 404(a)(6) provides, and             
          Pub. 560 states, that a contribution is deemed timely, and hence            
          deductible, if made by the due date of the employer’s return,               
          including extensions thereof.  Cf. sec. 11.412(c)-12(b)(2),                 
          Temporary Income Tax Regs., 41 Fed. Reg. 46597-46598 (Oct. 22,              
          1976).  Notably, similar language does not appear in Pub. 560               
          under the heading of “Minimum Funding Requirements”.  Rather, the           
          portion of the publication dealing with the minimum funding                 
          standard of section 412 specifically states that contributions to           
          a plan will not be considered timely for the purpose of the                 
          minimum funding standard if made any later than 8-1/2 months                
          after the end of the plan year.  In essence, section 404(a),                





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