Mitigating Risk Through DFVCP For Comprehensive Compliance Framework

Plan administrators have a critical responsibility to file Form 5500 annual returns on time. Failure to do so can result in severe penalties from both the Department of Labor and the Internal Revenue Service. The stakes are high, and the risks are real.

How BC2 Can Help with Our DFVCP Services

At Benefits Compliance Consultants LLC., we specialize in ERISA compliance and DFVCP services.

Our DFVCP consultants will:

  • Assess Your Situation: Determine your specific needs and eligibility for the DFVC Program.
  • Provide a Customized Quote: Offer a confidential, complimentary quote tailored to your plan.
  • Handle the Filing Process: Electronically file Form 5500 and manage penalties with our proprietary service.
  • Offer Ongoing Support: Provide continuous guidance and support to ensure ongoing compliance.

Time is of the essence! If the DOL identifies the delinquency before the requirement is resolved, the plan sponsor may no longer be eligible to participate in the DFVC Program.

Penalty Structure Under the DFVC Program

Under the DFVC Program, a plan administrator who failed to file 5500 avoids the potentially large civil penalties (up to $30,000 per year) and can pay a smaller pre-determined penalty (generally $2,000 per year, but not to exceed $4,000 for multiple year delinquencies).

Participate in the DFVCP: A Simple 3-Part Process.

Plan administrators with Form 5500 filing obligations who comply with the provisions of the program who have not been notified in writing by the DOL of failure to file a timely Form 5500.

  1. Submit your plan information online for a confidential, complimentary quote.
  2. Receive a prompt estimate for our preparation, filing services, and applicable penalties.
  3. Benefit from our electronic filing and proprietary penalty payment service, eliminating the need to deal directly with the IRS or Department of Labor.

Secure Your Compliance with Our Expert DFVCP Services

Don’t risk penalties. Choose peace of mind with our guaranteed ERISA compliance solutions.