Please experienced agents give me your thoughts. I have an employer group that is getting audited. The problem is there is an issue with their POP plan.
The POP plan was terminated because the employer didn't pay a $100 admin fee. That was in 2014. They thought their plan was still active!
We have a Plan Summary and it doesn't have an end date on it. I'm wondering, will the Plan Summary satisfy the auditor? This feels very serious and the possibility of back taxes and penalties are high.
Any way around this situation? Should I tell them to contact an attorney?
The POP plan was terminated because the employer didn't pay a $100 admin fee. That was in 2014. They thought their plan was still active!
We have a Plan Summary and it doesn't have an end date on it. I'm wondering, will the Plan Summary satisfy the auditor? This feels very serious and the possibility of back taxes and penalties are high.
Any way around this situation? Should I tell them to contact an attorney?
