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Release Date: October 10, 2007
Release Number: 07-1509-NAT
Contact Name: Gloria Della/Richard Manning
Phone Number: 202.693.8664/202.693.4676
Washington – The U.S. Department of Labor’s
Employee Benefits Security Administration (EBSA) today launched an
interactive calculator that makes it easier for employers and plan
administrators who are delinquent in meeting annual reporting
requirements under the Employee Retirement Income Security Act (ERISA)
to accurately compute penalties owed under the agency’s Delinquent
Filer Voluntary Compliance Program (DFVCP).
The program encourages plan administrators to file
already overdue annual reports required under ERISA. Delinquent filers
can avoid potentially higher civil penalty assessments by satisfying the
program’s requirements and voluntarily paying a reduced penalty
amount.
The DFVCP calculator, available at askebsa.dol.gov/dfvc,
makes it possible to accurately and simply determine the amount of civil
penalties owed under the program by plugging in the type of plan, size
of plan and number of filings.
This new tool is part of EBSA’s compliance
assistance program and is available nationwide. For more information on
the Delinquent Filer Voluntary Compliance Program, contact EBSA at
202.693.8360 or visit its web site at www.dol.gov/ebsa/Newsroom/0302fact_sheet.html.
U.S. Department of Labor news releases are accessible on the
Department's Newsroom
page. The information in this news release will be made available
in alternate format upon request (large print, Braille, audio tape or
disc) from the COAST office. Please specify which news release when
placing your request at 202.693.7828 or TTY 202.693.7755. The U.S.
Department of Labor is committed to providing America's employers and
employees with easy access to understandable information on how to comply
with its laws and regulations. For more information, please visit the
Department's Compliance
Assistance page.
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