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|Compliance Fines & Penalties|
|Depending on the compliance violation the Department of Labor (DOL), Internal Revenue Service (IRS) or Department of Health & Human Services (HHS) may impose fines or penalties.|
|Failure to provide written requested ERISA plan documents, Summary Plan Descriptions, Summary of material|
|$110 per day up to $549,095||DOL|
|Late 5500 Report||$25 per day up to $15,000||IRS|
|Failure to File annual 5500 Report||$2,194 per day, with no maximum||DOL|
|Failure to furnish statement of benefits or to maintain records||$28 per employee||DOL|
|Failure to notify plan participants of benefit restrictions and/or limitations||$1,632||DOL|
|Failure to furnish automatic contribution arrangement notice||$1,632||DOL|
|Failure to furnish employee benefit plan documents to DOL upon request||$147 per day up to $1,472 per request||DOL|
|Failure to inform employees of Medicaid/CHIP coverage opportunities||$110 per day per employee||DOL|
|GINA violation||$110 per day per participant||DOL|
|Failure to provide Summary of Benefits Coverage (SBC)||$1,156 per failure||DOL|
|FMLA posting & notice violation||$173 for each offence||DOL|
|Allowing premiums to be paid on a pre- tax basis for covered benefits without having either a Premium Only Plan (POP)|
document or Flexible Spending Account (FSA) document.
|Penalty: Employer can lose the ability to allow premiums on a pre-tax basis.||IRS|
|HIPAA violations||$100 to $50,000 per violation up to $1,500,000.||DOL or HHS|
|MEWA – failure or refusal to file a complete or accurate Form M-1||$1,597 a day||DOL|
|Other – This is only a partial list of possible fines and penalties|
|Each of the enforcing organizations, DOL, IRS and HHS, have increased the number of auditors and enforcers. Audits have increased across the county.|
We recommend you take steps now to be fully compliant to avoid fines and penalties.