Section 125 Plans Amendments & changes since plan was installed ?

[Guest Ken Parmer]

Have you properly amended your plan to reflect any changes that you made to the plan year, eligibility requirements, benefits, or IRS regulations?*

*There have been changes in IRS regulations in 1997, 1999, 2000, 2001 and 2002.

Have you properly amended your plan to reflect any changes you made to the plan year, eligibility requirements, benefits, or IRS regulations?

You answered . . . is NO

Your Section 125 Plan is out of compliance.

There have been changes in the IRS Regulations in the past few years.

The above text explains my understand of the 125 plan rules.

Since there are countless plans out their that have not been

updated, what if anything is the goverment going to do about it ?? is there a safe way to correct this for employers ?? refiled

the correct 5500 forms for the years in question ??

I look forward to hear the collect wisdom of those who read this board.