Jump to content

No 5500's filed, no wrap plan

Recommended Posts

Company of 300 ee has 3 medical and 1 dental plans. Never knew they needed to file 5500's. In order to save dfvc penalties, would be nice to file as 1 wrap plan. Can such a document be prepared now to cover prior years in order to process these filings? We dont even know how far back to go.

Link to comment
Share on other sites

Guest Stevecpa

I've actually done a retroactive effective date wrap document one time, with no backdating, to minimize the penalties before they were reduced. In addition, I've had several clients file one 5500 as though they had a wrap document. We implemented a prospective plan for them without amending prior years.

Link to comment
Share on other sites

Guest matthew222

I agree. Retro 5500's can be performed. I don't know all the rules on penalties, so perhaps talk to this colleague of mine:

Iris Thill

Benefits Compliance Consultants

Office: (515) 244-2424

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • Create New...