TPApril Posted December 13, 2013 Share Posted December 13, 2013 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? Link to comment Share on other sites More sharing options...
Flyboyjohn Posted December 16, 2013 Share Posted December 16, 2013 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. Link to comment Share on other sites More sharing options...
TPApril Posted December 20, 2013 Author Share Posted December 20, 2013 Are you saying you simply file the plan late and not submit to DFVC? If so, which boxes if any do you mark off? Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now