EPCU–Party-in-Interest Transaction Project

The Employee Plans Compliance Unit reports on its Party-In-Interest transaction.

Document Excerpt

The project goals were to determine whether filed Forms 5500 contained correctly reported non-exempt party-in-interest transactions and whether the related Schedules G and/or Forms 5330 were accurately prepared and timely filed when required.

The project selected returns with large reported non-exempt transactions, representing 253 plans with plan years that ended in 2003 and 2004. The EPCU sent compliance check letters to plans requesting further information on the reported transactions, and analyzed response to determine whether the plans were compliant. Where warranted, the EPCU required the plans to correct transactions and file or amend returns; the EPCU also requested examinations of some of the plans.



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