DFVC - What does DFVC stand for? The Free Dictionary
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Top hat plans that failed to file their one-time statement with the DOL exempting them from future Forms 5500 can also file under the DFVC program.
Secondly, if there are extenuating circumstances, consider not entering the DFVC program and requesting a penalty abatement under reasonable cause.
The DFVC allows sponsors of such plans who failed to take advantage of the special provisions to elect out of annual reporting to make that election.
The program announcement notes that because the plan administrator is personally liable for civil penalties under ERISA Section 502(c)(2), DFVC penalties may not be paid from plan assets.
The DFVC and Agripac acquisitions accounted for approximately $21.
Net income was also negatively impacted by an increase in interest expense associated with the debt incurred to complete the DFVC and Agripac acquisitions.