MarylandSaves is a new retirement savings program that is a simple and seamless way to help Maryland employees save and plan for the future. We issued an alert about it in September, which you can read here.
Some things you should know:
- SDAT will waive its $300 annual report filing fee for every year a Maryland business signs employees up for MarylandSaves and employees use the program.
- In order to be eligible to claim the filing fee waiver for calendar year 2023, your business must be enrolled in MarylandSaves (or offer another qualified plan) by December 1, 2022.Your business will then be eligible to claim the waiver when you file your 2023 annual report to the state.
The most reliable way to receive your filing fee waiver is to use one of the links below to register with MarylandSaves or certify that you offer another qualified plan, and then file your 2023 Annual report with SDAT online.
*The list of businesses that qualify for the 2023 fee waivers must be shared with SDAT by December 1, 2022, in order for them to have enough time to process the waivers.*
Fee Waiver Action Steps
If you have received an Access Code from MarylandSaves and want to enroll your business in MarylandSaves | Click here to register and claim your Annual Report filing Fee waiver.
If you have received an Access Code from MarylandSaves and already offer a retirement plan | Click here to claim your compliance with the new law and claim your Annual Report Filing Fee waiver.
If you DON’T HAVE an Access Code from MarylandSaves and want to enroll your business in MarylandSaves | Click here to request an activation code and begin the registration process.
If you DON’T HAVE an Access Code from MarylandSaves and already offer a retirement plan | Click here to claim your compliance with the new law and claim your Annual Report filing Fee waiver
If you have any questions regarding MarylandSaves or the information above, please contact us. We will be happy to assist, however there still are unanswered at this time.
Categories: Small Business, Employee Benefit Plans
