Guest ERISAweasel Posted May 14, 2003 Posted May 14, 2003 Failure to provide timely notice for SIMPLE plans can result in $50 per day penalties (see, e.g., Notice 98-4 and Code section 408). The penalties are imposed under Code section 6693©(2)... what IRS form is used to report and/or pay these penalties?
Appleby Posted June 9, 2003 Posted June 9, 2003 There is no prescribed form to pay this penalty. From my understanding, the penalty is assessed during a DOL audit... at which point , instructions for payment will be provided... if necessary Life and Death Planning for Retirement Benefits by Natalie B. Choatehttps://www.ataxplan.com/life-and-death-planning-for-retirement-benefits/ www.DeniseAppleby.com
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