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Missing SIMPLE deferrals & match since 2004


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Guest bmurphy61
Posted

Client has a SIMPLE-IRA, has been withholding deferrals since mid-2004 but not making deposits to EE accounts. 3% matching contribution has also not been made. Have notified employer previously that these are serious errors that need to be corrected, only now has they contacted me to rectify things. I have had EE's contact me about their missing depsoits but I've always told them that they need to talk to employer. Kinda suprised that there hasn't been any complaints to the DOL or IRS about this yet. Can this type of error be corrected thru EPCRS &, if so, how should employer proceed. This is my first time dealing with this type of situation so any guidance is appreciated.

  • 9 years later...
Posted

Did you receive an answer on this?  

How was it resolved?  I have a client in a similar situation except that the only person participating in the simple ira was the owner.

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