Marcel Weiland

There is now an IRS compliance program for retirement plans that just don't fit under other IRS programs. It's essentially a voluntary program for bringing a broken retirement plan in for a negotiated correction – before the IRS audits your plan. It's called VCA: The Voluntary Closing ...
[Read more] about Plan Failure Can’t Be Fixed in EPCRS? VCA Might Be the Acronym for You

In 1995, the Department of Labor (DOL) established its Delinquent Filer Voluntary Compliance (DFVC) Program to enable plan sponsors to file all the appropriate returns and to pay reduced penalties. If you have an employee benefit plan for which an annual report should have been filed, but which ...
[Read more] about The Delinquent Filer Voluntary Compliance Program – Over-The-Counter Relief

I can still hear my mother saying it, "Haste makes waste, Marcel." And it is true in many situations – acting too quickly can cause mistakes that waste time and money. But it isn't always the case with qualified plan failures. In most cases, timely correction of a failure will cost you less money ...
[Read more] about The Employee Plans Compliance Resolution System (EPCRS): When Haste DOESN’T Make Waste

In the wake of the Enron situation, Congress passed a law containing blackout period requirements that apply to all defined contribution retirement plans. Blackout periods (times when participants lose control over their accounts) can occur for a number of reasons, but the most common are if the ...
[Read more] about Before You Throw That Switch – Blackout Period Notice Requirements