Examples of Delinquent Participant in a sentence
As reported on the Form 5500, Schedule H, Line 4a — Schedule of Delinquent Participant Contributions, certain participant contributions were not remitted to the Plan within the time frame specified by DOL Regulation 29 CFR 2510.3-102, thus constituting nonexempt transactions between the Plan and the Company.
For the year ended December 31, 2019, the Company did not remit certain participant contributions to the Plan on a timely basis as defined by the Department of Labor's Rules and Regulations for Reporting and Delinquent Participant Contributions Disclosure under ERISA.
Accompanying Supplemental InformationThe supplemental information in the accompanying schedules, Schedule H, Line 4a - Schedule of Delinquent Participant Contributions for the year ended December 31, 2020 and Schedule H, Line 4i - Schedule of Assets (Held at End of Year) as of December 31, 2020 have been subjected to audit procedures performed in conjunction with the audit of the Plan’s financial statements.
The accompanying Schedule of Delinquent Participant Contributions discloses these transactions in accordance with the DOL’s Rules and Regulations for Reporting and Disclosure under ERISA.
Delinquent Participant loans are reclassified as benefit payments based upon the terms of the Plan document.
The Form 5500 is updated annually and therefore the Form 5500 contains the most current information about the required schedules.a. Schedule H, line 4a—Schedule of Delinquent Participant Contributionsb.
The Form 1095-C is completed as outlined under Active Employees above.
Supplemental Information The supplemental Schedule of Assets (Held at End of Year) as of December 31, 2022 and Schedule of Delinquent Participant Contributions for the year ended December 31, 2022 have been subjected to audit procedures performed in conjunction with the audit of the Plan’s financial statements.
Delinquent Participant loans are reclassified as benefit payments based upon the terms of the Plan document.Payment of Benefits — Benefits are recorded when paid.Expenses — Certain expenses of maintaining the Plan are paid by the Bank and are excluded from the financial statements.
The supplementary information in the accompanying schedules of Delinquent Participant Contributions for 2014 and assets (held at end of year) as of December 31, 2014 have been subjected to audit procedures performed in conjunction with the audit of Bright Horizons 401(k) Plan’s financial statements.