Plan has Never Sent SAR

[khn]

We have a new client that has filed a 5500 every year, but has never prepared or distributed a SAR in the past. I'm trying to research what the penalties are for this, if any, and how to rectify the situation, but haven't been able to find anything. We'll of course have them start to do it this year, but is there anything they can/should do for the past SARs?

[GMK]

This site

http://www.nfpbenefitspartners.com/nfp_life_and_benefits/hr/benefitscompliance/SAR.aspx

says that you can be sued to require distribution of SARs or for damages that are a consequence of not distributing SARs. Willful failure to distribute SARs is a criminal offense.

It goes on to say there is no penalty under ERISA, but if an SAR is requested, you have the usual 30 days to provide it before the $110 a day penalty starts.

[khn]

Thanks so much!