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DOL Enforcement and Penalties for Late and Incomplete 5500 Filings

ABA JOINT COMMITTEE ON EMPLOYEE BENEFITS  • DATE: May 10, 2011
SPONSORS: The Sections of Business Law; Health Law; Labor and Employment Law; Real Property, Trust and Estate Law; Taxation; Tort Trial and Insurance Practice; and the American College of Employee Benefits Counsel

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Untitled Document

A 90-minute TeleConference
TUESDAY, MAY 10, 2011

1:00-2:30 pm ET / 12:00-1:30 pm CT / 11:00 am-12:30 pm MT / 10:00 am-11:30 am PT

Moderator:
James Raborn, Baker Botts LLP, Houston, TX

Panelists:
Jonathan P. Matzkin, Senior Technical Advisor, Office of the Chief Accountant, Employee Benefits Security Administration, U.S. Department of Labor, Washington, DC
Lisa Tavares, Venable LLP , Washington, DC
Serena Simons,
The Segal Company, Washington, DC

The DOL has initiated an aggressive program imposing penalties for failure to timely file forms 5500 and audit reports. This program will describe the reasonable cause and appeals process with representatives of the DOL and how the system has changed as a result of e-FAST. The following topics will be discussed:

  • What happens when an employer fails to include an audit report with its form 5500?
  • What is the process and timeline for getting and responding to DOL notices on late and incomplete 5500 filings?
  • Can the employer get an extension to respond?
  • What does the DOL consider to be reasonable cause that would reduce or eliminate the penalty?
  • If the DOL issues an adverse Notice of Determination, what is the appeals process?


   
DOL Enforcement and Penalties for Late and Incomplete 5500 Filings
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