A joint initiative by the Internal Revenue Service and the Department of Labor is examining Form 5500 filings for the plan year ending in 2011 to smoke out those sponsors that have yet to file but were required to.
The initiative is being overseen by the Employee Plans Compliance Unit at the IRS and the Office of the Chief Accountant at the DOL, according to information released on the IRS's website earlier in September.
The IRS says the primary goal of the program is to ensure compliance.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
