late deferrals 5500

[Scuba 401]

we had a client that had some deferrals transmitted late. we answered the question yes on the 5500 and basically self corrected including even paying the excise tax and filing for 5330. we recently received a letter from the DOL saying that we need to correct using the VFC program. anyone ever have a situation where they corrected but outside the VFC program and will the DOL accept this correction if inform them about it?

[PensionPro]

In similar situations, we have notified DOL that corrections have been made including the deposit, earnings, excise tax, 5330, etc. The VFCP was not used. According to the grapevine, the DOL will not audit/investigate the plan simply because the employer decided not to use VFCP.

[Tom Poje]

for a good recap, you might wish to read the following, but basically says the same thing as PensionPro

from Ilene Ferenczy who probably knows more about this stuff than just about anybody

https://app.e2ma.net/app/view:CampaignPubli...9f625d645818752

[Scuba 401]

for a good recap, you might wish to read the following, but basically says the same thing as PensionPro

from Ilene Ferenczy who probably knows more about this stuff than just about anybody

https://app.e2ma.net/app/view:CampaignPubli...9f625d645818752

excellent. right on point. thanks.