benefitcommerce

Employee Benefits

5500 Penalty Reduced Significantly

Compliance

The Problem:
A client had not filed their Form 5500s for many years and could have potentially incurred a large penalty. The max penalty was $2,233 per day in 2021, and they had not filed for 5 years making the penalty about $4 million.

Our Solution:

After our client service team dug in and researched and calculated costs, they were able to find a way to reduce the penalty to $4,000.

Exceptional Results:

We were able to help save the client millions of dollars in penalty costs that they otherwise would have owed to the government.

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    Alera Group, Inc. is aware that there are persons fraudulently impersonating our company by using fake internet domains that appear to look like our legitimate services. If you are contacted by someone claiming to work for Alera Group, or any of our partners, please carefully review the email address and domain. If you have a relationship with our company, please contact us directly and not through any information that is provided in such an email. Please be extremely careful in responding to such emails with personal and financial information, sharing passwords, or any other information of value. Alera Group, or any of our partners, will never send ACH instructions via email and thus we strongly recommend that you verify the authenticity of each wire transfer request by calling your Alera Group contact using the number you have previously called.