Learn how to set up a retirement plan deduction or a company contribution in QuickBooks Online Payroll or QuickBooks Desktop Payroll to track and tax it appropriately.
If you or your employee contributes to a retirement plan, set it up in QuickBooks so it'll be reported on your payroll tax forms.
Step 1: Determine which retirement plan to set up
There are different types of retirement plans supported in QuickBooks. Determine which plan you want to set up for your employees and review its contribution limits.
Supported retirement plans in QuickBooks
- 401(k) / 401(k) catch-up
- Simple 401(k) / Simple 401(k)
- 403(b) /403(b) catch-up
- SARSEP / SARSEP catch-up
- Simple IRA / Simple IRA catch-up
- After-tax Roth 401(k)
- After-tax Roth 403(b)
Note: After-tax Roth plans calculate on your employees' gross wages and are subject to all taxes at the time of contribution per IRS regulations.
To learn more about retirement plans, visit the IRS website.
Step 2: Set up a retirement plan deduction or a company-match contribution item in QuickBooks
|Note: Not sure which payroll service you have? Here's how to find your payroll service.|
Step 3: Ensure the deduction or contribution shows up in the employee’s paycheck
The amounts you or your employees contribute to a retirement plan must be reported on Form W-2. So the next time you pay your employees, make sure the retirement amounts are showing in their paychecks.
Edit or remove a retirement plan item
If you need to modify the deduction or contribution item, here’s how: