BookReader Posted June 15, 2017 Share Posted June 15, 2017 If correct by filing the Form 5330 and paying the excise tax, can the DOL calculator be used to determine the earnings? A VFCP filing will not be done. I have seen where some people use the DOL calculator even when the VFCP filing will not be done. I have also seen where it is indicated that the DOL calculator cannot be used if not filing under VFCP. What are people actually using to determine earnings on the late deposits? Link to comment Share on other sites More sharing options...
K2 Posted June 15, 2017 Share Posted June 15, 2017 The calculator. Link to comment Share on other sites More sharing options...
RatherBeGolfing Posted June 15, 2017 Share Posted June 15, 2017 It is not so much that the calculator cannot be used if you don't file VFCP, but the calculations MAY be rejected if examined by the DOL. They may also be accepted. It is no guarantee either way. If you want to be certain that your results are acceptable using the calculator, do a VFCP filing. Otherwise, roll the dice. If you decide to roll the dice, make sure you inform your client of the risk. I use the calculator about 90% of the time, but I also file VFCP 90% of the time. There are times when other methods of calculations result in a better result for the client and is worth the time and effort to do get there. Link to comment Share on other sites More sharing options...
msmith Posted June 19, 2017 Share Posted June 19, 2017 If not filing through VFCP, we never use the DOL Calculator. However, it is reviewed to see if the interest rate is higher than the Plan's rate. Link to comment Share on other sites More sharing options...
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