SadieJane Posted July 24, 2019 Posted July 24, 2019 The DOL penalty for failure to distribute auto enroll notices is $1700 per participant per day, if I am reading things correctly. This failure is not eligible for relief under the Voluntary Fiduciary Correction Program, so was hoping to find an overall penalty cap, at least. Is anyone aware of a cap on this penalty? Since VFCP is not available, simply provide the notices ASAP, include the error as an operational error in a VCP, and hope for the best?
Belgarath Posted July 24, 2019 Posted July 24, 2019 Has anyone ever seen this penalty imposed? I haven't...https://www.federalregister.gov/documents/2007/12/19/E7-24386/civil-penalties-under-erisa-section-502c4
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