Chaz Posted February 23, 2021 Posted February 23, 2021 The IRS assesses a multiemployer health and welfare fund a penalty for not timely distributing and/or filing Forms 1095-B due to an error by the fund administrator. The penalty is not covered by the fund's E&O/fiduciary insurance policy. Can the fund pay the penalty from plan assets? Thanks.
Effen Posted February 24, 2021 Posted February 24, 2021 I highly doubt it, but you should ask the fund's attorney. Seems to me the fund administrator should pay it. Bill Presson 1 The material provided and the opinions expressed in this post are for general informational purposes only and should not be used or relied upon as the basis for any action or inaction. You should obtain appropriate tax, legal, or other professional advice.
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