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DOL Continues Focus on Late Deposits of 401(k) Elective Contributions (PDF)
Kirkpatrick & Lockhart LLP
May 30, 2003
At pp. 1-3 of 7 page document. Excerpt: [R]evised [Form 5500] Line 4(a) now clearly requires plan administrators to disclose on Form 5500 all late 401(k) contributions and will, therefore, presumably be more successful in causing plan administrators to disclose late 401(k) deposits.... [T]he plan sponsor may wish to correct the fiduciary breach and the prohibited transaction by making a lost earnings contribution in the manner specified by the VFC Program.
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