Further Commission action against non-filers and
late filers is decided on a case-by-case basis.
Outside the EPCRS process, the IRS maintains a non-VCP submission program for 457(b) plans, an Employee Plans Voluntary Closing Agreement request process for employee plan issues not covered under EPCRS, and a penalty relief program for
late filers of Form 5500-EZ, Annual Return of One-Participant (Owners and Their Spouses) Retirement Plan.
I'm disappointed the number of
late filers has risen," NCUA Board Chairman Rick Metsger said.
It's like they forgave the
late filers altogether," said the former elections chief.
But 61 of the
late filers, or 13 percent, told the IRS they were unaware of the Form 8963 filing requirement.
The cases of nonfilers,
late filers and short filers will be dealt with in the EMC and assistance, if needed, shall be taken from the civil administration of Punjab in connection with the work/operation of the cell.
Those aged 18-20 accounted for 10 per cent of
late filers, while the over-65s accounted for only 1.
Indeed, some observers recommend filing as early as possible because
late filers may be competing for a depleted pool of funds.
The Internal Revenue Service (IRS) is providing penalty relief for certain
late filers of Form 5500.
Late filers try to avoid paying all the taxes they owe until they can wait no more.
HMRC urged
late filers to get their returns in as soon as possible to avoid being hit with further charges.
But the SEC provides a very reasonable remedy in order to encourage
late filers to convert to XBRL: it will remove the aforementioned penalty as soon as the company successfully converts to XBRL, provided that it previously filed its fmancial statement information in traditional format on a timely basis.
