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March 19th, 2024
Information & Insights for the 403(b) Community
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Ask the Experts
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How Can a Late 403(b) Plan Remittance Be Corrected?
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Q: We had a late remittance in 2023 for our ERISA 403(b) plan, which we corrected under the Department of Labor’s Voluntary Fiduciary Correction Program. We understand that we must complete IRS Form 5330 as well to pay the excise tax on the lost earnings on the late remittances. However, the excise tax only amounts to about $100. Do we still need to file the form?
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2024 Service Stars Announced
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The PLANSPONSOR Service Star Awards program recognizes the retirement plan account representatives and relationship managers who, in the words of their plan sponsor clients, have demonstrated exemplary service.
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