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How does the VFCP calculator work?

The Online Calculator computes Lost Earnings and interest, if any. If the Principal Amount was used for a specific purpose such that a profit on the use of the Principal Amount is determinable, the Online Calculator also computes interest on the profit.

What is a VFCP filing?

The Voluntary Fiduciary Correction Program (VFCP) is a voluntary enforcement program that allows plan officials to identify and fully correct certain transactions such as prohibited purchases, sales and exchanges; improper loans; delinquent participant contributions; and improper plan expenses.

Is there a fee for VFCP?

2021-30, section 10.10. The initial fee is $10,000. An additional fee is due equal to $250 for each plan affected in excess of 20 plans.

What is a VFCP?

What is the Voluntary Fiduciary Correction Program (VFCP or Program)? The VFCP is a voluntary enforcement program that encourages the correction of possible violations of Title I of the Employee Retirement Income Security Act (ERISA).

What is a VFCP filing?

The Voluntary Fiduciary Correction Program (VFCP) is a voluntary enforcement program that allows plan officials to identify and fully correct certain transactions such as prohibited purchases, sales and exchanges; improper loans; delinquent participant contributions; and improper plan expenses.

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