hi,
i am a solo owner and a s- corp. for the year 2007 i made teh employee contribution of 15,500 but not the employer contribution part of it. i further more did not make the optional part of the contribution
1. can i make it now?
2. is there a penalty?
3. how do i do it if i can either one or both.

i am the only one eligible for the year. so please help.
thank you
nandi

Zip Code: 95355

If you filed for an extension on April 15th, you have until 10/15/08 to submit your 401k match and additional profit sharing plan contributions, and still deduct those amounts on your 2007 tax returns.

Otherwise, if you did NOT file an extension, the due date to fund your retirement plan for 2007 was 4/15/08. You might want to contact the retirement specialist at the mutual fund company that holds your Solo 401k money, or the retirement consultant who help you establish your plan, to see what suggestions they might have.

Zip Code: 01801