Nicholas Pension Consultants
Compensation Strategies Group, Ltd.
Nova 401(k) Associates
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|IRS Amnesty Program for Non-ERISA Plans Made Permanent (PDF)|
June 4, 2015
"Unlike the pilot, the permanent program imposes a penalty. The penalty for each submission is $500 for each delinquent return for each plan, up to a maximum of $1,500 per plan. The penalty is a flat amount, not adjusted for the number of days the filing is late. If the filing is less than 20 days late, it will generally be less costly to pay the $25 per day penalty rather than filing under this new program."
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