What is the Delinquent filer
voluntary correction program?
The Form 5500 Filing DFVC was created by the Department of Labor
(DOL) to encourage employee benefit plan administrators to voluntarily
file overdue annual reports (generally referred to as the Form 5500) and
pay reduced civil penalties.
The program is not available to plans that are not subject to ERISA.
Penalties can be reduced
under the DFVC Program:
>Per Filing Cap- the maximum penalty for a single late annual
report is $750 for a small plan and $2,000 for a large plan
>Per Plan Cap- limits the penalty to $1,500 per small plans
and $4,000 per large plans when reports for more than one
year are submitted at the same time
ECS is here to assist plan administrators file delinquent Form 5500 or Form 5500-SF (for eligible small plans) under the DFVCP. We specialize in Delinquent Form 5500 Filing and will guide you through the process and complete the following: Data Collection, Preparation and Filing.
For assistance with the DFVC Program or other plan compliance issues, contact ECS today.