The DOL recently released enhancements to its DFVC Penalty payment system. These enhancements provide additional information emphasizing the DOL’s expectation of accurate and timely filings.
Good news! The overall process is generally the same, including the online payment steps of submitting the banking or credit card information. The enhancements include information around plan name changes, quick access to plan years filed timely and also those filed before 2009.
If there are numerous variances under an EIN, the system may prompt you to contact the DOL to receive an administrative code in order to proceed.
The system also gives you the option to view filings that have been submitted on time and those that were filed prior to 2009. Please note that information detailed in the table for those pre-2009 may not be accurate; for instance, it may not be able to consider when it was received; it can only list the date it was processed.
The table also includes additional fields and data, such as listing the due date and considering if a Form 5558 extension was filed. If the due date falls on a weekend, the table will automatically list the date for the following business day.
Again, these are quick highlights. We will provide more information during our National Webinar on August 25th (the invitation will be released in mid-July). For questions, please contact your Wrangle Team or Wrangle’s DFVC team at DFVC@wrangle5500.com.