VFCP Invitations DOL Philadelphia Region

[Flyboyjohn]

Appears that DOL Philadelphia Region has started another round of letters inviting participation in VFCP based on transgressions reported on 5500s filed "within the past 2 years" (sample attached).

They're also offering free webinar workshops on VFCP that are open to all and are well worth attending.

Sample DOL VFCP invitation letter 07-17-18_16660886(1).PDF

[RatherBeGolfing]

1 hour ago, Flyboyjohn said:

Appears that DOL Philadelphia Region has started another round of letters inviting participation in VFCP based on transgressions reported on 5500s filed "within the past 2 years" (sample attached).

They're also offering free webinar workshops on VFCP that are open to all and are well worth attending.

Sample DOL VFCP invitation letter 07-17-18_16660886(1).PDF

This is for a transgression other than late deferrals right? 

[Flyboyjohn]

Yes, this one was the preparer accidently answering Yes to the question on non-exempt transactions when he meant to answer the fidelity bond question.

[RatherBeGolfing]

Ok that makes sense. Good reminder to proof read your work before submitting it to the government 

I do like the tone of this letter better than the late deferral ones that caused a stir a while back.  Its always interesting to see what comes out of Philly...

 

[MoJo]

The DOL has been issuing almost identical letters for late deferrals (we've seen those in the past, and our clients in the "Chicago" district area have gotten some.  ARA/ASPPA has challenged the DOl on the "harshness" of the letter and  apparently has gotten the DOL to reconsider the "threat" - although I haven't seen any more recent ones (the ones I've seen were from April).