The U.S. Department of Labor has recently expanded its self-correction program to promote compliance with the Form M-1 annual reporting requirements. This initiative aims to help employers correct reporting errors without facing penalties, providing a more streamlined process for entities to ensure adherence to regulations related to multiple employer plans (MEPs) and certain group health plans. By permitting self-correction, the Department seeks to reduce inadvertent non-compliance, which can lead to significant fines and legal issues. This expansion not only encourages employers to promptly address mistakes but also supports the overall integrity and transparency of employee benefit plans. The self-correction program reflects the Department’s commitment to fostering a cooperative environment for employers while ensuring that employee rights and benefits are safeguarded.
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