Late Deposit of Prevailing Wage Contributions

[Below Ground]

Even though Prevailing Wage Contribution are Employer Contributions, it is my understanding that deposits should not be later than quarterly. I note that we always tell clients to deposit monies when credit is earned, and for the most part, this is what our clients do. There is of course always an exception, resulting in life being made interesting! Despite the fact that the Prevailing Wage Plan saves the Employer tons of money (payroll taxes, workers comp, etc...), this "exception" claims they can't afford to make the contributions, so they have yet to deposit credits earned in 2010!

My feeling is that lost interest should be computed and credited, and maybe, payment of the excise tax applicable to late deferrals. Any thoughts on this are greatly appreciated. Thanks!