gregburst Posted December 4, 2010 Posted December 4, 2010 Client made one $350 deferral deposit a little late during 2009 and deposited makeup/lost earnings of $8 during 2009. And then we reported the late deposit on the 2009 form 5500-SF. The client has now received a notice from the DOL instructing/encouraging them to file under VFCP. The last client I had that did that in this situation got audited by the IRS the next year. What does wisdom dictate here? File or not? Thx, Greg
Bird Posted December 4, 2010 Posted December 4, 2010 We have filed under VFCP once or twice after receiving those letters and ignored them other times. So far, the ignored once have not resulted in follow-ups. Take that (in)action at your own peril, but for an $8 interest payment I'm prepared to withstand any scolding they might muster for not filing. Ed Snyder
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