Guest lforesz Posted February 5, 2001 Posted February 5, 2001 An employer failed to trasmit participant contributions when due. The employer will pay to the Plan the amount of the profits which resulted from the prohibited use of plan assets using the IRC Section 6621(a)(2) underpayment rate. When filing the Form 5330, what is the actual amount involved in the prohibited transaction? Would it be the principal amount plus restored profits or just restored profits?
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