There are a few scenarios where you may need to submit off-cycle payrolls for your plan:
Year-End Calculations
For certain safe harbor, matching or profit-sharing contributions that are made after year-end and require an off-cycle contribution.
Company Bonuses
Company bonuses are paid outside the payroll schedule.
A sponsor should give a paper form to employees to fill out regarding how much they want to contribute from their bonuses.
K-1 Employees
K-1 Employees are paid outside of the payroll schedule and will need to submit their payroll as an off-cycle contribution.
A Mistake on Payroll Submission
When mistakes are made on a payroll submission, you may need to upload an off-cycle submission to fix the mistake.
If you have an active integration, please locate your payroll provider from this list for more information about how your off-cycle contributions will be processed. You can find instructions on how to submit off-cycle contributions here.
If you have any questions, please reach out to clientsuccess@vestwell.com