VFCP Program

[austin3515]

I will never do it again unless I absolutely have to.  It has been excruciating.  I have been through 2 of them now and each has been extremely difficult.

[RatherBeGolfing]

What were they for?  

[austin3515]

late deposits.  One of them was for a miniscule amount of late deposits for which we were "asked" to file.  The fact that the dollar amounts were miniscule is of absolutely no concern to them.

[RatherBeGolfing]

Wow.  I have never had any issues with VFCP for late deposits other than taking forever.  Could just be luck of the draw though.  Out of curiosity, which regional office handled the filings?

[Flyboyjohn]

My experience with VFCP through Philadelphia office has been great (several late deposits and a worthless asset removal from plan) 

[austin3515]

You know, it really was just an unwillingness to acknowledge that ____happens, and a further refusal to take into account that "hey, this must be a good guy/plan sponsor if they're voluntarily coming in to the program."  My impression was really "you better watch what you say and how you say it--you're dealing with an investigator, and this is an investigation."  Even though this was not a big deal, this in their eyes was actually a very very serious matter.

[RatherBeGolfing]

6 minutes ago, austin3515 said:

You know, it really was just an unwillingness to acknowledge that ____happens, and a further refusal to take into account that "hey, this must be a good guy/plan sponsor if they're voluntarily coming in to the program."  My impression was really "you better watch what you say and how you say it--you're dealing with an investigator, and this is an investigation."  Even though this was not a big deal, this in their eyes was actually a very very serious matter.

That is interesting, especially since they now want to encourage more people to fully correct through VFCP...  

18 minutes ago, Flyboyjohn said:

My experience with VFCP through Philadelphia office has been great (several late deposits and a worthless asset removal from plan) 

I deal primarily with the Atlanta office, and haven't had any issues.  I often hear that the Philly office is one of the tougher ones to deal with so the fact that you have had good experiences is nice to hear.

[MoJo]

On 3/31/2017 at 11:58 AM, austin3515 said:

You know, it really was just an unwillingness to acknowledge that ____happens, and a further refusal to take into account that "hey, this must be a good guy/plan sponsor if they're voluntarily coming in to the program."  My impression was really "you better watch what you say and how you say it--you're dealing with an investigator, and this is an investigation."  Even though this was not a big deal, this in their eyes was actually a very very serious matter.

Is it possible that one or more (disgruntled) participants have filed complaints with the DOL over this, or some other issue?  The only problems I've ever had with the DOL are when participant complaints are in the "file."

[austin3515]

No way, not in this case.