Just when employers thought it was safe to open their mailboxes, the IRS has begun sending compliance letters to non-profits that offer a certain type of deferred compensation plan to their top executives.
The letters – about 200 were sent by the end of October with a similar number planned over the next year – seek information about 457(b) plans sponsored by non-profits. Until recently, the plans were more commonly seen in the government sector.
"There's very little excuse not to respond," said Roger Rovell, president of Fiduciary Partners Retirement Group, based in Clearwater, Fla. "If you don't file you will be audited."
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