"I feel comfortable about preparing the late filings as well as using DFVCP. One thing I am wondering about is the fact that the plan sponsor terminated the business that sponsored the plan a few years ago and started another business. I do not know whether another retirement plan was started. The client is a dentist, so the type of business remains the same. What effect, if any, does the termination of the original business -- the one that sponsored the plan, have on the late filing process and the Post PPA restatement?"

"Has anyone received IRS approval of a correction in VCP that was less participant-friendly than EPCRS guidelines would have required? (For example, IRS approved a 25% QNEC when EPCRS guidelines would have required 50%?) For anyone who has filed a VCP application in the last couple of years, how long is it taking the IRS to get back to you?"

"Our firm uses Datair (now CalcAir) and I have to admit, I am blown away by how rudimentary the software is. It has a clunky UI and is not very intuitive, even for seasoned retirement specialists. If you were to choose a new RK software that assisted with making Compliance Testing a breeze, made document building more simplified, etc., what features would you want? What about a software you could use year-round that helped TPAs managing multiple retirement accounts (401(k), DB, CB, etc.) keep up with their clients' plans in terms of CT and employee eligibility, deferrals, 5500 proactivity, etc.?"

"We have a client that over the past couple of weeks has been paying severance pay due to layoffs. Included with the severance pay is the participant's unused PTO. The severance is not eligible for 401(k) but the PTO is.

"Question -- this payment is done 'off cycle' however, the actual funding of the deferral takes place with the next regular payroll file feed to the recordkeeper. This means there is a lag of 3 -5 days before the deferrals from the off cycle are submitted.

"The client normally funds the deferrals the day of payroll, but the off cycle will be 3-5 days before funding. Client is concerned there is an issue and the off cycle should be funded before the regular payroll file feed.  HR is concerned this will mess up payroll and require manual posting. Also, there may be chance, HR sends the deferral file and payroll also picks up the payment.

"Since the client funds the contributions the day of payroll and waits 3-5 days for the off cycle the client is concerned the auditors will flag this as a late deposit. This has always been the practice however the recent layoffs, has caused some concern if this is an issue.

"Clearly, the contributions are funded as soon as 'administratively' feasible from the date they are withheld. The payment is made well before the infamous 15 days under the DOL reg. Any thoughts if there are issues with continuing the process as is?"