Top Hat Plan - Did not file Registration Statement

[KateSmithPA]

First of all, I know almost nothing about top hat plans but have been asked to find an answer to a question. I have checked the EBSA web site, downloaded 29 C.F.R. 2520.104-23 and a copy of the DFVC program.

A new client has told us that they established a top hat plan in 2004 and they do not think that they filed the registration statement with the DOL. Is the only consequence that they have to complete Form 5500 and need to go through DFVC to correct the missed filings 2004 - 2008?

Secondly, does the top hat plan file all the same forms with the 5500 that would be filed by a 401(k) plan, e.g. Schedule A (if applicable), Schedule I, etc.? What about the participant count?

Thank you.

Kate Smith

I should have read the DFVC program more carefully before posting this question. I found the answer in there.

[Ron Snyder]

Would you like to share the answer you found?

[XTitan]

http://www.dol.gov/ebsa/faqs/faq_DFVC.html

How does an administrator of a Top-Hat Plan participate in the DFVCP?

The plan administrator must prepare the statement described in regulation section 29 CFR §2520.104-23 and file it at the following address:

U.S. Department of Labor

Employee Benefits Security Administration

Top Hat Plan Exemption

200 Constitution Avenue, NW, N-1513

Washington, DC 20210

Note: If a plan sponsor has more than one top hat plan that is participating in the DVFC program at the same time, a single statement covering all of the plans may be filed consistent with the general requirements for top hat plan filings under 29 CFR § 2520.104-23.

The plan administrator must also submit to the DFVC program, either on paper through the mail or electronically.

If filing on paper, complete the most current Form 5500 Annual Return/Report (without schedules or attachments), items 1a–1b, 2a–2c, 3a–3c, and use plan number 888 for all the top hat plans covered by the top hat plan filing under 29 CFR § 2520.104-23. The paper copy of the form must be signed and dated, and be accompanied by a check for $750 made payable to the U.S. Department of Labor, and sent to:

By Mail:

DFVCP

P.O. Box 70933

Charlotte, NC 28272-0933

By Private Delivery Service:

DFVC DOL

Wachovia QLP Lockbox D1113-022

Lockbox #70933

1525 West WT Harris Boulevard

Charlotte, NC 28262

If submitting to the DFVCP electronically, follow the calculator instructions for online payment at www.efast.dol.gov.

The applicable $750 penalty amount is for each DFVCP submission, without regard to the number of plans maintained by the same plan sponsor for which the notices and statements are being filed or the number of participants covered by the plan or plans.