ERISA 403(b) Plan - Sponsor Has Never Had ERISA Bond

[rocknrolls2]

My client is a 501(c)(3) organization that maintains an ERISA 403(b) plan.  It has never filed Forms 5500 and has never purchased a fidelity bond, as required by ERISA Section 412.  I will be filing the client's 5500s under the Delinqauent Filer Voluntary Correction program.  However, I am reluctant to go further until it corrects for the failiure to have an ERISA bond.  I asked the client to obtain a quolte for an ERISA bond retroactive to January 1, 2009, but they were   told that the bond could only made effective on a prospective basis.  What do I do about 2009 - 2016, when no bond was in place?

[Belgarath]

You don't worry about it, as you can't do anything about it. Just get the bond currently ASAP. The older forms will show no fidelity bond.

[Insurance]

On 8/27/2017 at 4:18 PM, rocknrolls2 said:

My client is a 501(c)(3) organization that maintains an ERISA 403(b) plan.  It has never filed Forms 5500 and has never purchased a fidelity bond, as required by ERISA Section 412.  I will be filing the client's 5500s under the Delinqauent Filer Voluntary Correction program.  However, I am reluctant to go further until it corrects for the failiure to have an ERISA bond.  I asked the client to obtain a quolte for an ERISA bond retroactive to January 1, 2009, but they were   told that the bond could only made effective on a prospective basis.  What do I do about 2009 - 2016, when no bond was in place?

HI rocknrolls2  Colonial Surety can provide retroactive coverage as far back as the plan sponsor would need.