CalSaversJanuary 2022 Tax News
FTB partnered with the CalSavers Retirement Savings Board
Franchise Tax Board (FTB) will partner with the CalSavers Retirement Savings Board, as mandated by AB 102 (2020), to issue penalty imposition notices beginning this month, January 2022. The penalty imposition notices will be sent to eligible employers deemed by the CalSavers Retirement Savings Board to be noncompliant with the CalSavers Retirement Savings Program (CalSavers).
Beginning in January 2022 FTB will:
- Send penalty imposition notices
- Collect payments
- Answer questions from eligible employers regarding penalty notices, and
- route detailed questions to the CalSavers Retirement Savings Board customer service center
- Operate an appeals process for employer disputes not resolved directly by the CalSavers Retirement Savings Board
What Employers Need to Do:
By law, eligible employers must comply with the requirements of CalSavers, which includes registering and facilitating program requirements by specific deadlines.
To comply with CalSavers, visit the CalSavers Employers webpage to:
- Provide eligible employee information
- Remit employee contributions
Eligible employers will need their CalSavers access code located on their notice, and Federal Employer Identification Number (FEIN) to complete the process.
If employers disagree with FTB’s notices, they may:
- Contact the CalSavers Retirement Savings Board at:
- CalSavers Employers
- 877-258-8495 (M-F, 8 AM to 8 PM)
- Contact FTB
- Weekdays, 8 AM to 5 PM
- 916-845-7892 (outside the U.S.)
- Appeal penalties. Employers may appeal penalties within 90 days of the first FTB notice date (FTB 4230A). Employers cannot appeal penalties after FTB issues the final notice (FTB 4230B).
Find more information for CalSavers Employers.