Vfcp no action letter Form 2021-2024

Vfcp no action letter Form: What You Should Know

Note: BSA's Voluntary Fiduciary Correction Program (FCP) The ultimate goal of the plan sponsor, other than the granting of the relief itself, is a notation letter.” A no-action letter is a document stating that BSA  Voluntary Fiduciary Correction Program Under the Employee May 4, 2024 — A notation letter is a document stating that a participant has complied with the requirements of his or her defined contribution plan by taking a corrective action. A corrected participant shall not be required to contribute any account balance to such plan during the corrective time period. A corrective action is the correction of some other financial or management problem that may have contributed to the 401(k) plan participant's account termination or disqualification. The no‑action letter provides the corrective actions and the date the corrective action was completed. The no‑action letter is issued in response to a corrective action. Note: Eligible persons that qualify for the AFC Program are automatically enrolled to participate in the program. Nov 15, 2024 — If you are self-correctioning your 401k and would like to receive a no-action letter from the DOL, you can use the form below. If you are not self-correctioning your 401k and would like to receive a no-action letter from the DOL, you can use the form below. Note: If your retirement plan is in default, you will receive a letter from the Department of Labor outlining how to correct it and receive a refund. If your retired plan is in default, and you are not self-correcting your 401k, you do not qualify for a No-Action Letter from the Department of Labor and must make any correctable plan changes on your own. Note: If you have questions about the FCP as it relates to your 401(k) plan, consult your 401k plan administrator, financial counselor, or plan advisor.

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