New VFCP Program - Poll on Anticipated Use
Will you use the New VFCP Program (Voter Names Not public)
10 members have voted
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1. Will you use the DOL's new VFCP Program for anything but the most significant issues? (I did NOT check the box to make voter names public)
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Of course, the program sounds easy to use, and we won't charge extra.0
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We will give clients the choice to use the program or not for all late deposit issues, but if they want to use it we will charge a significant fee ($500+), even though the lost interest involved is probably less than a few hundred dollars.2
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Same as 2, but our fees will be in excess of $1,000.2
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Because it sounds like a lot of work (and a lot of fees for our clients) we don't plan on even mentioning the program unless there was a very significant issue where our additional fees might be justified based on the amount of risk (e.g., a client deposited monthly for 2 years).6
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I would be very apprehensive about a client using this program in any event because they have to report themselves to the DOL and I'm not sure what the DOL uses the information for.3
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