RetirePath Virginia: does your business have to register, and by when?

Since July 1, 2026, Virginia's rule covers employers with five or more eligible employees that don't offer a qualified retirement plan. They have to register with RetirePath Virginia or offer their own plan.

The next deadline is October 30, 2026, for newly eligible in 2026, 5 to 9 or 25 or more employees.

Newly eligible businesses get a deadline by size. If you already offer a 401(k), you certify an exemption instead.

Deadline coming upRetirePath Virginia (also called RetirePath)

Who has to do this?

Under Virginia's state-facilitated IRA law (Va. Code §§ 2.2-2744 to 2.2-2752, as amended by 2026 Acts chapters 84 and 85, in effect from July 1, 2026)5, a Virginia employer is covered when all of these are true:

  • You employed five or more eligible employees for the period ending December 31 of the previous year. 3
  • You don't sponsor a qualified retirement plan, such as a 401(k), 403(b), SEP or SIMPLE IRA. 3

The program's site also says a business must have been operating for two or more years. The 2026 change to the law removed that test from the statute, so if your business is newer, check with RetirePath. 1

What a covered employer does: Register with RetirePath Virginia and send eligible employees' payroll deductions, or certify an exemption. 1

When?

The next deadline is October 30, 2026, for newly eligible in 2026, 5 to 9 or 25 or more employees.

RetirePath Virginia deadlines
WhoDeadlineWhat is due
Employers eligible before 2026Has passedRegister or certify an exemption 1
Newly eligible in 2026, 10 to 24 employeesSeptember 30, 2026PassedRegister or certify an exemption 1
Newly eligible in 2026, 5 to 9 or 25 or more employeesOctober 30, 2026Register or certify an exemption 1

A business becomes eligible whenever it meets the test. RetirePath notifies eligible employers when it's time to register, and the notice gives the deadline. 1

What is RetirePath Virginia?

  • Contributions go to a Roth IRA in each employee's name by default. 2
  • The default savings rate is 5% of pay, rising 1% a year up to 10%. Employees can opt out at any time. 2
  • Employers cannot contribute or match. 1

What if we already have a 401(k)?

  • Employers that sponsor or contribute to a qualified plan, such as a 401(k), 403(b), SEP or SIMPLE IRA, are not covered. 3
  • A payroll deduction IRA does not count as a qualified plan. 2
  • Certify your exemption online with the Access Code from your RetirePath notice. 1

Your two options

Either one meets the requirement. The state program column is as the state describes it; which suits you depends on your business and your people.

Join RetirePath VirginiaOffer your own plan
What you doRegister with RetirePath Virginia and send eligible employees' payroll deductions, or certify an exemption. 1Certify an exemption online with the Access Code from your RetirePath notice. 1
Where the money goesA Roth IRA for each employee, by default 2Accounts in the plan you choose, such as a 401(k)
Employer contributionsNot permitted 1Up to you, within the plan's design
Fee to the employerNo employer fees, according to the program. 1Set by the provider you choose

What does it cost?

The state program: No employer fees, according to the program. 1

Your own plan: the provider sets the fees, and federal tax credits can cover part of the cost of starting one. See 401(k) tax credits for small businesses and our pricing.

What happens if we don't?

  • A business that doesn't respond before its deadline may face an annual penalty of up to $200 per eligible employee. 2
  • The statute caps penalties at $200 per eligible employee a year. 4

General information, not legal advice. Rules change; confirm with the state program or your counsel.

Sources & Methodology
  1. Commonwealth Savers, RetirePath Virginia, Virginia employers. Read October 13, 2026.
  2. Commonwealth Savers, RetirePath Virginia, FAQs (employers). Read October 13, 2026.
  3. Virginia General Assembly, Code of Virginia § 2.2-2744, Definitions. Read October 13, 2026.
  4. Virginia General Assembly, Code of Virginia § 2.2-2747, Powers and duties of the Board. Read October 13, 2026.
  5. Virginia General Assembly, 2026 Acts of Assembly, Chapter 84 (HB 176), page dated approved April 6, 2026. Read October 13, 2026.

Each statement is paraphrased or quoted from the source it cites. A link to a state agency does not mean the agency endorses alooola. Last verified October 13, 2026.

Get help with RetirePath Virginia in three steps

  1. Tell us about your business: your state, how many people work for you, and any plan you have now.
  2. An advisor talks it through with you and sends a written proposal with the fees, so you can weigh it against the state program.
  3. If you choose your own plan, we coordinate the setup with you and your payroll provider. You then certify your exemption with the state.
Request a proposal

Prefer to talk? Call (484) 275-5525, Monday–Friday, 9am–5pm ET.