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Medical Association Plan folding - need to file past 5500s?


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Association sponsoring fully insured medical plan for its member companies is terminating the plan & each company will have its own plan starting 1/1/14. Association failed to file 12/31/11 and 12/31/12 5500.To what extent should they file under dfvc and could they risk penalty if not? They are balking at $4000 for a plan no longer existing. thoughts?

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I've done lots of delinquent welfare plan filings without paying the ridiculous $4,000 DFVC penalty and always gotten off with reasonable cause letter BUT that doesn't mean DOL/IRS have now changed their prior favorable position, especially since client filed in the past (can't use the "never knew welfare plans required filing" excuse).

Give client the options and have them decide whether certainty and peaceful sleep is worth $4,000.

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