INSIGHTS

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Posts tagged self-correction
DOL Finally Allows Self-Correction of Late Contributions under VFCP-But with Catches
DOL Finally Allows Self-Correction of Late Contributions under VFCP-But with Catches

Late deposit of employee contributions is a common ERISA violation that may involve small dollar amounts. The Voluntary Fiduciary Correction Program (VFCP), is being expanded to allow self-correction of late contributions without a formal filing, but there are important conditions to know about. Terry Moore discusses them in this post.

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Fiduciary Advice, Qualified Retirement PlanTerry MooreVFCP, self-correction, late contibutions