Form 8951 - Compliance Fee For Application For Voluntary Correction Program (Vcp) Page 2
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Form 8951 (Rev. 9-2015)
Page
Exceptions to the General Compliance Fee Schedule. Check all boxes that apply, continued
If a VCP submission consists solely of one or more applicable failures checked in 8(a) - (e) (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(f) - (i) is checked, pay only the corresponding reduced compliance fee amount.
Reduced Compliance Fee Eligibility
Reduced Compliance Fee Amount
Participants with loan failures:
(d) VCP submission relates to a failure of participant loans to comply with
$300 if there are 13 or fewer.
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.
$600 if there are 14 to 50.
2013-12, section 12.02(3), as modified by Rev. Proc. 2015-27, section 4.13
for additional rules.
$1,000 if there are 51 to 100.
$2,000 if there are 101 to 150.
$3,000 if there are over 150.
(e) VCP submission relates to a failure to timely adopt an amendment (upon
$500
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 request for a minor modification of a
Compliance fee amount is the lesser of: 50%
previously issued compliance statement, and has been mailed within the
of the original compliance fee or $1,500.
correction period set forth in the compliance statement. See Rev. Proc.
2013-12, section 10.07(10).
(g) Plan is a SEP, SARSEP, or SIMPLE IRA. See Rev. Proc. 2013-12, section
$250
12.06, for additional rules.
(h) Group submission from an eligible organization, as defined in Rev. Proc.
Initial fee due with this submission is $10,000.
An additional fee will be requested by the IRS
2013-12, section 10.11(2). See Rev. Proc. 2013-12, section 12.05, for
at a later time based on the number of plans in
additional rules.
excess of 20 that will be part of the group
submission (capped at $50,000).
(i) 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.
*37771W09201502*
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