Requesting "Minor" Modification of Compliance Statement

[IhrtERISA]

Would appreciate any feedback on experiences with requesting a "minor" modification of a VCP Compliance Statement. Are such attempts typically successful? If request is denied, are there negative consequences?

Applicant discovered some additional corrections needed to be made within the 150 day period after receiving Compliance Statement. These corrections all related to the SAME underlying failures included in the VCP. At question is whether the corrections below could be considered "minor":

1. Three (3) participants were included in original VCP as "Overpaid"  (not being fully vested at time of termination). However, it was later discovered that they were not in fact overpaid (were age 65 at time of termination thus fully vested). Overpayment letters were sent to participants and then later retracted upon the discovery. 

2. Due to missing payroll records, Applicant listed certain assumptions in the VCP submission as a result of missing data. This data was later discovered, and it was determined that this assumption was not correct for 24 participants. The result was that the OVERPAYMENT to these participants had been originally calculated to be greater than it actually was. Thus, OVERPAYMENT amount decreased. 

3. Due to multiple record payments, two (2) participants believed to have received OVERPAYMENTS had in fact received a slight UNDERPAYMENT

 

Does IRS take into consideration the ratio of the corrections made under the original VCP submission to the number of modifications required in determining "minor"? 

 

Any input is greatly appreciated. Thank you!

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