Church 403(b) Late Deposits

[oldman]

Is a non-ERISA 403(b) plan subject to Treas. Reg. §2510.3-102?

A church 403(b) plan has failed to submit payroll deductions to the plan for over 6 months. Would the plan need to calculate lost earnings using the VFCP calculator or use an alternative method by using the highest performing fund from the investment offerings under the plan from the date the monies should have been deposited through the date the monies were deposited? Also, would the employer have to file Form 5330 excise tax reporting the prohibited transaction and its correction?

[movedon]

Is a non-ERISA 403(b) plan subject to Treas. Reg. §2510.3-102?

A church 403(b) plan has failed to submit payroll deductions to the plan for over 6 months. Would the plan need to calculate lost earnings using the VFCP calculator or use an alternative method by using the highest performing fund from the investment offerings under the plan from the date the monies should have been deposited through the date the monies were deposited? Also, would the employer have to file Form 5330 excise tax reporting the prohibited transaction and its correction?

I believe that's a labor reg and does not apply to a non-ERISA plan.