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One option I got is that better to file with the $500 late filing fee as the most conservative approach. This was by an ERISA attorney. There is no right/wrong way of doing this as no corrective measures are provided, ay least none that I could fine. I am not sure if I agree with thepensionmaven as not signing the SB timely possibly considered a late filing, IMHO. It is not an amendment in any form, again, IMHO. I simply did not deal with this particular client so anything from this point is a discussion in theory.

Curious to see how this ends up. We have done this many times, and no problems. My understanding is that you can not use DFVC if you get a DOL letter. File an amended return and check the box DFVC, and pay the $750 as this is much more reasonable than $250 per day. After having many bad experiences as well as time wasted answering numerous IRS letters for the same client (letter, response, letter saying they never received a response, etc, etc), $750 is worth not having to deal with this.

I always do. If I find/resolve anything, will post.