Our experience with complex filing requirements of employee benefit plans and our deep understanding of the Employee Retirement Income Security Act (ERISA) and ERISA compliance has made us one of the most trusted and knowledgeable advisors in the industry.

Prevent Pricey Penalties

Filing Form 5500 on a timely basis is important to demonstrate fiduciary responsibility and avoid costly penalties subjected by both the IRS and DOL.

  • The IRS penalty for late filing of a Form 5500 return is $250 per day, up to a maximum of $150,000 per plan year.
  • The DOL penalty for late filing can run up to $2,586 per day, with no maximum.

Correction Programs Assistance

If plan administrators fail to file Form 5500 by the annual filing deadline, a missed filing can be corrected by using the DOL Delinquent Filer Voluntary Correction Program (DFVCP).

Our team of Form 5500 Filing Services specialists can help guide you through correcting plan errors to remain in compliance with the DOL and IRS.

Additional Employee Benefit Plan Tax Services

In addition, our Employee Benefit Plan Tax experts can assist with:

  • 403(b) and 457(b) Plan Compliance
  • Consulting on all types of qualified employee benefit and retirement plans
  • Form 720 Excise Tax/PCORI Fees (self-insured plans)
  • IRS/DOL representation for examinations
  • Termination plan procedures and finding missing participants
  • VEBA trust issues

Contact Us

For more information or to discuss your business needs, contact Withum’s Employee Benefit Plan Tax Services Team.

Leadership

Israel Tannenbaum

Partner

New York, NY

Donna Nevolo

Partner

Whippany, NJ


Contact Us