May a Plan Sponsor receive an extension of the 150-day correction period under the VCP?
In appropriate circumstances, a Plan Sponsor will be granted an extension of the 150-day correction period under VCP. The Plan Sponsor should submit a written request explaining the reason for the request to the agent working the case. The request must be made prior to the expiration of the 150-day correction period.
Related Questions
- How can a plan sponsor determine if an individual is eligible for coverage under Medicare during a time period for which the plan sponsor is seeking ERRP reimbursement for that individual?
- Is a plan eligible for VCP if the plan or Plan Sponsor is or has been a party to an Abusive Tax Avoidance Transaction?
- Is the plan sponsor or the participant responsible for tracking the five-year period?
