Danielle

Yes you are correct but I thought that needed to be done before filing because you need to select that on the 5500 when you do file. The client already filed when they realized they were late.

I just checked and they have not filed their retirement 5500 yet that would have been due at the same time. Historically they have been filing under an extension so I’m assuming they will again be filing in October with an extension for plan year ending 12/31/2020.

The plan sponsor was not on an extension. It was for plan year ending 12/31/2020. Their 401k retirement plan follows the same plan year (1/1-12/31).

The client thought they had filed the 5500 for their welfare plan when it was signed on 7/21; however it was not realized until 8/4 that it was never actually filed, so they filed on 8/4. The deadline of July 31st which fell on a Saturday so the next business day was August 2nd. So it was technically filed 2 days late. I know the DOL can assess penalties per day for being late. What’s the likelihood the DOL will penalize them?