Up, Up and Away: 2020 Increased Penalties for Employee Benefit Plans

By Alan D. Nesburg, PC and Diane Morgenthaler on February 13, 2020

Posted In Employee Benefits, Health and Welfare Plans, Retirement Plans

For 2020, legislation enacted in December of 2019 dramatically increases penalties imposed by the Internal Revenue Code (the Code) for late filing of certain employee benefit plan notices and reports. In addition, a final rule published by the Department of Labor (DOL) makes inflation adjustments to a wide range of penalties. Learn the penalty amounts that apply beginning in 2020.

Access the full article.

Tags: DOL, ERISA, inflation adjustments, Internal Revenue Code, IRS, IRS Form 5310-A, IRS Form 5500, IRS Form 8955-SSA, IRS Form W-4P, SECURE Act

Alan D. Nesburg, PC
Alan D. Nesburg advises public and private businesses on a wide range of employee benefit matters, including qualified pension and 401(k) plans, deferred compensation, executive compensation and group benefits programs. Read Alan Nesburg's full bio.

Diane Morgenthaler
Diane M. Morgenthaler focuses her practice on employee benefits and executive compensation. She represents clients in matters before the US Internal Revenue Service, the Department of Labor and the Pension Benefit Guaranty Corporation. Diane serves as employee benefit counsel to Fortune 500 corporations and other global corporations, and represents both public and private clients. She regularly designs and implements a variety of employee benefit plans and programs. Diane has extensive experience in employee benefit issues involved in acquisitions, reorganizations and divestitures and in the design of employee benefits plans following such transactions. She also advises clients in matters involving multi-employer withdrawal liability, fiduciary liability and benefit claims.

Up, Up and Away: 2020 Increased Penalties for Employee Benefit Plans

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