ERIC Victory: Treasury/IRS Confirm January 4 Payment Date for Pension Contributions

In guidance issued today, the Treasury and IRS acknowledge the delayed contribution date for pension plans. Notice 2020-82 confirms that the due date for delayed contributions under CARES Act Section 3608 is January 4, 2021.

ERIC has argued that the agencies should accept payments on the first business day after the January 1, 2021 date in the statute. This victory is critical for accounting and cash flow purposes, and we appreciate the agencies clarification of this matter.