Generally, the contribution year is the period that:
- begins on the 61st day of a year, the last 10 months (March to December) of the tax year (ordinarily March 2nd to December 31st of the tax year); and
- ends on the 60th day of the following year (ordinarily January 1st to March 1st of the following year).
However, the start of a "contribution year" depends on whether the end of the previous contribution year falls on Saturday or Sunday. In such cases, the preceding contribution year ends on the first business day that follows that Saturday or Sunday, and the start of the current contribution year begins on the day after that first business day.
|Tax year||1st contribution period||2nd contribution period|
|2012||March 1, 2012 to December 31, 2012||January 1, 2013 to March 1, 2013|
|2013||March 2, 2013 to December 31, 2013||January 1, 2014 to March 3, 2014|
|2014||March 4, 2014 to December 31, 2014||January 1, 2015 to March 2, 2015|
|2015||March 3, 2015 to December 31, 2015||January 1, 2016 to February 29, 2016|
|2016||March 1, 2016 to December 31, 2016||January 1, 2017 to March 1, 2017|
For the 2016 contribution year which begins on the 61st day of 2016 (March 1) and ends on the 60th day of 2017 (March 2nd), each record for a particular contributor to a particular plan would provide a breakdown of the total contributions made during the following periods: March 1, 2016 to December 31, 2016; and January 1, 2017 to March 2, 2017.
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