The DOL has stated that:
Plan administrators are eligible to pay reduced
civil penalties under the program if the required filings under the DFVCP are
made prior to the date on which the administrator is notified in writing by the
department of a failure to file a timely annual report under Title I of the
Employee Retirement Security Act of 1974 (ERISA). DFVCP is not available to
plans that are not covered by Title I of ERISA. DFVCP relief is available only
if the plan is required to file an annual report under Title I of ERISA. If a
Form 5500-EZ is filed late, the plan administrator may request relief from the
IRS for any applicable tax code penalties.
The relief under the DFVCP is available only to
the extent that a Form 5500 is required to be filed under Title 1 of ERISA and
for certain one-participant and foreign retirement plans under the pilot
program issued in 2014 (subject to the reporting requirements of IRC §§
6047(e), 6058, and 6059).
The IRS
has made this pilot program permanent for plan years 2015 and beyond
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