Retirement Plan late payment penalty tax deductible or not

[misskeiko]

Hello,

Is Retirement Plan late payment penalty for corporation tax deductible? I did some research and found that tax penalties are not tax deductible. But what about retirement late payment penalty?

Thank you!

[sjrcpa]

Is this penalty really earnings on the amount that should have been timely contributed?

[qbteachmt]

Who assessed the penalty: Plan sponsor, DOL, IRS?

Was this a late deposit of Employees' contributions?

Was it late along with the form filing?

[misskeiko]

it is paid to united state treasury. i am looking at their bookkeeping, so not sure if it was late along with the form filing. 

[misskeiko]

i think it is the penalty on the late retirement plan payment that should have been timely contributed

[sjrcpa · Accepted solution]

Paid to US Treasury = penalty, nondeductible.

[qbteachmt]

Likely excise tax:

https://www.irs.gov/retirement-plans/401k-plan-fix-it-guide-you-have-not-timely-deposited-employee-e...

[misskeiko]

Okay! Thank you.