The IRS penalty relief program is available to the plan sponsor or plan administrator of a retirement plan that is subject to the IRS filing requirements of IRC 6047(e), 6058, or 6059, but is not subject to Title I of ERISA for the plan year that a Form 5500 or a Form 5500-SF is delinquent. Specifically, the relief is available to:
Plans subject to Title I of ERISA are not eligible for the IRS penalty relief program and should instead use the Department of Labor’s Delinquent Filer Voluntary Compliance Program (DFVCP).
Sources:
Notice 2022-36
IRM Part 20. Penalty and Interest. Chapter 1. Penalty Handbook. Section 1. Introduction and Penalty Relief
Rev. Proc. 2022-39
IRM Part 20. Penalty and Interest. Chapter 1. Penalty Handbook. Section 9. International Penalties
