Top Hat registration statements

[Guest Calimayhew]

ER files registration statement for current plan. 10 years later adopts a second top hat plan. Must the ER file a new registration statement?

[QDROphile]

A literal reading of the filing requirement allows you to argue that a second filing is not required, but why not play safe?

[Guest Calimayhew]

I'm all for playing it safe - but since the second filing was, ahem, delinquent, we have to use DFVC. Wasn't sure if anyone had any experience with this kind of thing - absolutely NO guidance from the DOL. Not too helpful over the phone, either.

[TCWalker]

I think you want to look at DOL Reg. 2520.104-23:

(b) (2) "Only one statement need be filed for each employer maintaining one or more of the plans described in paragraph (d) of this section."

This assumes prior compliance with all the requirements of the Alternative Method. That said, the DFVC route is what, $750 ? Seems like low cost insurance to me.

[Guest Calimayhew]

"Only one statement need be filed for each employer maintaining one or more of the plans described in paragraph (d) of this section."[/i]

It would be helpful if the DOL would issue some sort of guidance on that very thing. Is it all plans "currently" maintained, or all current and future? You're right, though. The $750 is a small price to pay for compliance.

Thanks!

[TCWalker]

yeah, I've asked the question too. "No comment" from EBSA.