VFCP

(redirected from Voluntary Fiduciary Correction Program)
AcronymDefinition
VFCPVoluntary Fiduciary Correction Program
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This application form provides a recommended format for your Voluntary Fiduciary Correction Program (VFCP) application.
The information identified on this form is required for a valid application for the Voluntary Fiduciary Correction Program of the U.
Revised Voluntary Fiduciary Correction Program Checklist (Required)
The Voluntary Fiduciary Correction Program was adopted by the DOL on a permanent basis in March 2002 (the original VFC Program).
The VFC Program includes a Voluntary Fiduciary Correction Program Model Application Form (see Appendix B), which provides a recommended format for a VFC Program application, and a revised Voluntary Fiduciary Correction Program Checklist (see Appendix B) to ensure the submission of a complete VFC Program application.
Correct the late deposit of participant contributions by filing under the Voluntary Fiduciary Correction Program (VFCP) and comply with the requirements of Prohibited Transaction Exemption 2002-51;
Beaty also has experience in auditing plans for compliance failures and represents the firm's clients before the Internal Revenue Service and the Department of Labor on a variety of issues, including audits by both agencies and correction of operational failures under the Internal Revenue Service Employee Plans Compliance Resolution System and fiduciary issues under the Department of Labor's Voluntary Fiduciary Correction Program.
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