Excerpt: Recently, a number of employers have received letters from the IRS assessing penalties ($25 per day) for the late filing of Form 5500 for the employer's plan(s). The letters generate two important questions for the employer: May the employer still ask the IRS to reduce or abate the penalty? If the employer resolves the late filing with the IRS, will it preclude the DOL from imposing its penalties for late filing?  MORE >>