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Form 8951 Compliance Fee For Application For Voluntary Correction Program (VCP) 8951 - Official Federal Forms
| Form 8951 Compliance Fee For Application For Voluntary Correction Program (VCP) Form. This is a national form and can be used in Department Of Treasury . |
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Form 8951 Compliance Fee for Application for Voluntary Correction Program (VCP) Under the Employee Plans Compliance Resolution System (EPCRS) OMB No. 15451673 For IRS Use Only Amount paid $ (Rev. January 2013) Department of the Treasury Internal Revenue Service 1 Name of plan sponsor (employer if single-employer plan) Information about Form 8951 and its instructions is at www.irs.gov/form8951. Attach to Form 8950. 2 Plan sponsor's employer identification number 3 Plan number 4 Plan name 5 Number of plan participants. See instructions to determine this number. 6 If you are submitting a check for an additional VCP compliance fee that has been requested by an IRS employee in Voluntary Compliance, check this box and provide the check amount $ and the VCP Case Number . 7 General Compliance Fee Schedule Number of Plan Participants General Compliance Fee Amount $750 $1,000 $2,500 $5,000 $8,000 $15,000 $20,000 (a) 0-20 (b) 21-50 (c) 51-100 (d) 101-500 (e) 501-1,000 (f) 1,001-5,000 (g) 5,001-10,000 $25,000 (h) Over 10,000 8 Exceptions to the General Compliance Fee Schedule. Check all boxes that apply: If a VCP submission consists solely of one or more applicable failures checked in 8(a) - (f) (and does not include any other failure), the compliance fee will be the lesser of: (1) the sum of the reduced compliance fee amounts, or (2) the general compliance fee amount (see instructions). If any box in 8(g) - (j) is checked, pay only the corresponding reduced compliance fee amount. Reduced Compliance Fee Amount Reduced Compliance Fee Eligibility (a) VCP submission relates to certain failures involving the late adoption of good faith amendments, interim amendments, or amendments required to $375 implement optional tax law changes, as described in Rev. Proc. 2013-12, section 6.05(3)(a). See Rev. Proc. 2013-12, section 12.03(2). (b) VCP submission relates to late nonamender failures described in General compliance fee amount from line 7 is Rev. Proc. 2013-12, section 6.05(2)(a)(ii), and the VCP submission is made reduced by 50%. within a 1-year period following the expiration of the plan's remedial amendment period for complying with such changes. See Rev. Proc. 2013-12, section 12.03(1). (c) VCP submission relates to a failure to comply with Internal Revenue Code (IRC) section 401(a)(9) minimum distribution rules affecting 50 or fewer plan $500 participants. See Rev. Proc. 2013-12, section 12.02(2), for additional rules. (d) VCP submission relates to a failure of participant loans to comply with IRC section 72(p)(2) rules, provided no more than 25% of plan participants were affected in any year in which the failure occurred. See Rev. Proc. 2013-12, section 12.02(3), for additional rules. For Paperwork Reduction Act Notice, see instructions. General compliance fee amount from line 7 is reduced by 50%. Cat. No. 37771W Form 8951 (Rev. 1-2013) American LegalNet, Inc. www.FormsWorkFlow.com Form 8951 (Rev. 1-2013) Page 2 If a VCP submission consists solely of one or more applicable failures checked in 8(a) - (f) (and does not include any other failure), the compliance fee will be the lesser of: (1) the sum of the reduced compliance fee amounts, or (2) the general compliance fee amount (see instructions). If any box in 8(g) (j) is checked, pay only the corresponding reduced compliance fee amount. Exceptions to the General Compliance Fee Schedule. Check all boxes that apply, continued Reduced Compliance Fee Eligibility (e) VCP submission relates to a failure to timely adopt an amendment (upon which a favorable determination letter is conditioned) within the applicable remedial amendment period, provided the required amendment is adopted within three months of the expiration of the remedial amendment period for adopting the amendment. See Rev. Proc. 2013-12, sections 6.05(3)(d) and 12.03(3), for additional details and conditions. (f) VCP submission relates to a failure to timely adopt a written 403(b) plan. The VCP submission must be mailed to the IRS by December 31, 2013. See Rev. Proc. 2013-12, section 12.02(5) for additional details and conditions. (g) VCP submission relates to a request for a minor modification of a previously issued compliance statement, and has been mailed within the correction period set forth in the compliance statement. See Rev. Proc. 2013-12, section 10.07(10). (h) Plan is a SEP, SARSEP, or SIMPLE IRA. See Rev. Proc. 2013-12, section 12.06, for additional rules. (i) Group submission from an eligible organization, as defined in Rev. Proc. 2013-12, section 10.11(2). See Rev. Proc. 2013-12, section 12.05, for additional rules. Reduced Compliance Fee Amount $500 General compliance fee amount from line 7 is reduced by 50%. Compliance fee amount is the lesser of: 50% of the original compliance fee or $1,500. $250 Initial fee due with this submission is $10,000. An additional fee will be requested by the IRS at a later time based on the number of plans in excess of 20 that will be part of the group submission (capped at $50,000). (j) Terminating orphan plan, as defined in Rev. Proc. 2013-12, section 5.03. A No compliance fee is due at this time. terminating orphan plan may be granted a waiver of the fee upon request. See instructions and Rev. Proc. 2013-12, sections 11.03(13) and 12.02(4). Caution. In some situations, the compliance fee owed for a VCP submission may be higher than the amounts reflected on pages 1 and 2 of this form. See Determining the Proper Compliance Fee in the instructions and in Rev. Proc. 2013-12, section 12. American LegalNet, Inc. www.FormsWorkFlow.com Form 8951 (Rev. 1-2013) Page 3 Section references are to Rev. Proc. 2013-12, unless otherwise noted. IRS.gov For the latest information about Form 8951 and its instructions, search "About Form 8951" on IRS.gov or go directly to www.irs.gov/form8951. General Instructions Purpose of Form Generally, a compliance fee is required with each Voluntary Correction Program (VCP) submission. Use Form 8951 to determine and submit the applicable compliance fee for the VCP submission. Compliance fees are shown on pages 1 and 2 (see section 12). check. If the electronic fund transfer cannot be processed for technical reasons, you authorize the IRS to process the copy of your check. The electronic fund transfer from your account will usually occur within 24 hours, which is faster than a check is normally processed, so it is important that you have sufficient funds available in your checking account when you send the IRS y
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