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New User Fees for Retirement Plan Corrections
Nelson Mullins Link to more items from this source
[Guidance Overview]
Jan. 15, 2018

"[T]he cost of correcting plan loan errors, late amendments, or missed minimum distributions will increase for most employers.... [A] large employer (plan greater than $10M in net assets) who made errors in administering a dozen or fewer plan loans could have corrected all of these loans for a $300 fee. Now the fee will increase to $3,500. For this reason, there will be more incentive to correct all errors in a single filing when possible."

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