An even easier way to 401(k)
A Safe Harbor 401(k) from Guideline can help boost savings and reduce admin work. Open your plan before our August 23 deadline.
Safe Harbor, explained
Safe Harbor 401(k) plans are popular because they generally satisfy IRS nondiscrimination tests. In exchange, companies must contribute to their employees’ 401(k) accounts. Get the details in our guide
71% of our plans are Safe Harbor, as of May 2023
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Client of Guideline. Views may not be representative of other clients.
With IRS nondiscrimination testing exemptions and a company contribution, Safe Harbor plans are a benefit that can benefit everyone.
Plan admin on a Guideline Safe Harbor 401(k) takes less than 30 minutes a month for most plan sponsors.
Everyone can get a savings boost. Highly compensated employees can max out their deferrals.
A company contribution encourages employee participation and can help attract and retain talent.
Open a new plan by August 23 and start saving by October. Once the plan is set up, we’ll send 30-day notices to employees to open their account before the live date.
Aug. 23, 2023
Sep. 1, 2023
Oct. 1, 2023
Open a new Safe Harbor 401(k) plan today and start saving this year.
Our plans include foundational services and features — including Safe Harbor. Monthly plans start at $49, plus $8 per participant.
If you’re starting a new 401(k), your small business may be eligible to receive up to $16,500 in tax credits over the plan’s first three years to help offset initial plan costs.
Unlike traditional 401(k) plans, Safe Harbor 401(k) plans get certain “safe harbor” protections and automatically satisfy most IRS nondiscrimination tests. In exchange, companies must contribute to their employees’ 401(k)
Nondiscrimination testing is required by the IRS to help ensure that 401(k) plans benefit both owners and employees. But even the most well-intentioned business owner can run into trouble when sponsoring a 401(k) plan. An owner contributing too much or employees contributing too little can result in a failed test and expensive corrections.
Aug. 23, 2023 Last day to set up a Safe Harbor 401(k) matching plan with Guideline
Sep. 01, 2023 30-day notice sent to employees
Oct. 01, 2023 Your Safe Harbor 401(k) plan is live
Nov. 20, 2023 Last day to add Safe Harbor matching provisions to your 401(k) with Guideline
Dec. 01, 2023 30-day notice sent to employees
Jan. 01, 2024 Safe Harbor matching provision takes effect for 2024
The deadline to add a 3% Safe Harbor nonelective provision to your 401(k) plan is Dec. 1, 2023. In order to adopt this provision, you’ll need to request an amendment by Nov. 5, 2023. If you want to add this provision to your plan after the Dec. 1 deadline, it must be at least 4%.