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Human Interest Compliance Guarantee Terms and Conditions

Guarantee Details

Human Interest Inc. (“Human Interest”) will provide the following Compliance Guarantee (“Guarantee”) for each Plan Sponsor (“Customer”): (1) (a) for Plans where Human Interest provides 3(16) Fiduciary Services (“3(16) Customer”), Human Interest will file Form 5500 or file an extension on behalf of the 3(16) Customer by the applicable deadline; or (b) for Plans where Human Interest does not provide 3(16) Fiduciary Services (“Non-3(16) Customer”), Human Interest will provide all required Form 5500 data and documentation to the Non-3(16) Customer at least thirty (30) days ahead of the applicable filing deadline (clauses 1(a) and 1(b), collectively “Form 5500 Filing”); (2) for a Plan that is considered a “large plan” requiring an audit for Form 5500 reporting purposes, Human Interest will prepare a materially complete document package with recordkeeping, payroll, and custodial data about a Plan for the applicable Plan Year (as defined in the Plan document) for the auditor (“Audit Package”) by May 1 of the year in which the Plan’s audit takes place; (3) Human Interest will perform and deliver to Customer the results of the Plan's annual compliance testing for the Plan Year, including, to the extent applicable to the Plan, its Top Heavy, Actual Deferral Percentage (“ADP”), and Actual Contribution Percentage (“ACP”) tests, its coverage and nondiscrimination tests under Sections 410(b) and 401(a)(4) of the Internal Revenue Code of 1986, as amended (the “Code”), and its applicable Code Sections 402(g), 401(a)(30), and 415(c) limits, together with notification to Customer and guidance on corrective actions to take (the "Annual Compliance Testing Results"); and, with respect to the Plan's ADP and ACP results specifically, Human Interest will deliver those results in time for Customer to make any required corrective distribution before the Plan's applicable corrective-distribution deadline; and (4) once Predictive Compliance Monitoring is enabled for the Plan, Human Interest will make the feature available, and update it, at least once in each calendar month to reflect any new Plan data received, as described below. If Human Interest does not satisfy one or more of the above commitments with respect to a Plan, and the Plan meets all of the eligibility criteria and claim requirements in these Terms and Conditions, the Plan may qualify for a $10,000 credit (“Credit”) to the Plan’s ERISA Spending Account for use toward Plan expenses permitted under the Plan document and applicable law. The Credit is available only once per Plan, regardless of the number or type of Guarantees missed or claims submitted. For the avoidance of doubt, this Guarantee is not an amendment to the Terms of Service. Nothing in this Guarantee expands Human Interest’s obligations or waives any of Human Interest’s rights under the Terms of Service, including those allocating responsibility for Customer-supplied data, and nothing in this Guarantee limits any right the Plan, the Plan Sponsor, or any participant has under ERISA, the Terms of Service, or applicable law.

Guarantee Rules

  1. This Guarantee is conditioned on Customer providing Human Interest with complete, accurate, and timely payroll, contribution, census, ownership, and employee data required (collectively, "Required Data") for Human Interest to provide Form 5500 Filing, Audit Package, Annual Compliance Testing Results, and Predictive Compliance Monitoring, regardless of whether Human Interest independently identifies or notifies Customer of any data deficiency. For Annual Compliance Testing Results, Customer must provide all Required Data necessary to begin testing no later than January 15 following the close of the Plan Year. Human Interest's commitments under this Guarantee are excused, and no Credit will be owed, to the extent Human Interest's failure to satisfy this Guarantee results from Customer's failure to provide Required Data, or from Customer's provision of incomplete, inaccurate, or untimely Required Data. Human Interest bears no obligation to independently verify the accuracy of Required Data provided by Customer, and reliance on inaccurate Required Data provided by Customer will not constitute a failure by Human Interest under this Guarantee.
  2. The Plan must be on the Concierge service package (except for the Form 5500 Filing guarantee) and in active status at all times during the Plan Year and through the applicable deadline for the Guarantee and when the Credit is deposited. For Form 5500 Filing, the applicable commitment is fixed by the Plan's 3(16) status at the time Human Interest must act on it; a later change in the Plan's 3(16) status does not create or shift a claim.
  3. Where a failure is covered by more than one Human Interest guarantee or remedy, the Customer may benefit from only one of them, such as the $10,000 credit under this Guarantee, the Customer Experience Guarantee, or the error correction remedy under Section 12 of the Terms of Service. This Guarantee is a voluntary benefit, and the Credit is the entire benefit it provides for a failure. This Guarantee does not itself create any claim against, or liability for, Human Interest beyond the Credit.
  4. For Annual Compliance Testing Results, a missed delivery must result in an incurred excise tax on a filed Form 5330 to be eligible for the Credit.
  5. Predictive Compliance Monitoring is a feature on the administrator dashboard that, during the Plan Year, shows the Plan Sponsor projected results and related guidance for Top Heavy, ADP, and ACP. A full Plan Year of data is needed to generate these projections. The projections and guidance are estimates for planning only, and Human Interest does not guarantee their accuracy, that they will match the Plan's year-end testing results, or any testing outcome.
  6. For the Audit Package, the Guarantee covers only delivery of such package, not the audit or its results. Human Interest is not responsible for the audit outcome, and the omission of a particular document, or an auditor’s request for additional documents Human Interest does not provide, does not by itself give rise to a claim under this Guarantee.
  7. Plan Sponsor is responsible for reviewing guidance from Human Interest and shall be solely responsible for determining their chosen course of action. The Plan Sponsor retains its fiduciary responsibility to effect necessary changes or corrections to resolve potential testing failures. If a Plan Sponsor chooses not to mitigate potential testing failures, or fails to execute the changes in a timely manner, they assume the risk that the Plan may fail testing, may be late in processing corrective distributions and/or that the Plan Sponsor may incur excise taxes. The Plan Sponsor will act in good faith to address issues within the calendar year, or in the event of a failed Plan, by the Plan’s deadline for taking corrective action.
  8. For the avoidance of doubt, the Credit is not compensation to the Plan Sponsor, is not refundable or payable to the Plan Sponsor in cash, and does not reduce or offset any fees owed by the Plan Sponsor to Human Interest. Use of amounts credited to the ERISA spending account is subject to direction by the Plan's named fiduciary and the Plan document's terms governing permissible expenses payable from Plan assets.
  9. Human Interest will not be liable under these Terms and Conditions or this Guarantee to the extent there are circumstances beyond Human Interest's reasonable control. Further, Human Interest is not responsible for corrective employer contributions or top-heavy minimum contributions; lost earnings or interest; excise taxes; EPCRS/VCP user fees, Audit CAP sanctions, or Plan-disqualification costs; or the sponsor's professional or advisory fees under this Guarantee. This Guarantee will not apply in the event of any tax caused, in whole or in part, by data the Plan Sponsor provided late, incompletely, or inaccurately, or by the Plan Sponsor’s failure to act on information Human Interest provided.

Claims Process

To be eligible for the Credit, a Plan Sponsor must submit a claim through the Support Center in accordance with the following requirements:


  1. All claims must be submitted within thirty (30) days after the applicable date, depending on which Guarantee commitment is at issue:
    1. Form 5500 Filing. For a 3(16) Customer, the date of the applicable Form 5500 filing or extension deadline. For a Non-3(16) Customer, the date thirty (30) days prior to the applicable Form 5500 filing deadline has passed without delivery of the required Form 5500 data and documentation.
    2. Audit Package. May 1 of the applicable Plan Year, if the Audit Package has not been delivered by that date.
    3. Annual Compliance Testing Results. The date Customer files the Form 5330; provided that no claim may be submitted after the last day of the fifteenth (15th) month following the close of the Plan Year in which the applicable excess contributions or excess aggregate contributions occurred.
    4. Predictive Compliance Monitoring. Last day of the calendar month in which the feature was enabled for the Plan but Human Interest did not, during that month, make it available with updated data at least once.
  2. The claim and supporting information must demonstrate: (i) that Human Interest failed to meet the identified Guarantee commitment, (ii) that Customer timely provided complete and accurate Required Data in accordance with these Terms and Conditions, and (iii) for a claim regarding the Annual Compliance Testing Results, that Customer incurred the 10% excise tax under Section 4979 as a result of Human Interest's late delivery, as evidenced by the filed IRS Form 5330; and
  3. Any additional information requested by Human Interest regarding the claim must be provided within three (3) business days of the request, and must be accurate and complete; failure to timely provide requested information will result in automatic rejection of the claim.

Human Interest will notify Customer by email (at the email address associated with the Plan's Human Interest account) of the claim decision approximately twenty (20) business days after submission of a complete claim. If approved, Human Interest will deposit the applicable Credit into the Plan's ERISA spending account at Matrix Trust Company approximately thirty (30) days after approval. All claim decisions are final and made in Human Interest's sole discretion. Human Interest may deny a claim if it believes this Guarantee is being abused or manipulated to circumvent its intent.

General Terms

This Guarantee and any Credit are nontransferable. Human Interest reserves the right to modify these Terms and Conditions or terminate this Guarantee at any time, including as needed to comply with applicable law. This Guarantee is not available for employees of Human Interest and its affiliates, and residents of any jurisdiction where it is not valid. Human Interest does not provide tax or legal advice. Any tax treatment of the Credit is the responsibility of the Plan and the Plan Sponsor. This Guarantee is administered and offered by Human Interest Inc.