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What happens if an employer fails to make required contributions?

If an employer fails to make required contributions, it can lead to IRS compliance issues and potential penalties. Employees may also miss out on retirement savings that were promised under the plan.

In some cases, employers may be required to make corrective contributions along with interest to make affected employees whole.

Addressing missed contributions as soon as possible is important to limit potential consequences.

WealthRabbit provides visibility into contribution activity and helps employers identify and correct issues early.