As with any new legislative obligation, RTI brought with it the risk of penalties to employers who failed to submit the Full Payment Submission (FPS) or a nil payment Employer Payment Submission (EPS), in a timely manner. (educationbusinessuk.net)
Fall 1996: In the final hours of the 104th Congress, the NATIONAL ASSOCIATION OF REALTORS ® and other groups successfully advocated legislative changes to RESPA, resulting in a delay until July 31, 1997, in implementing the rules governing employer payments to employees. (realtormag.realtor.org)
A typical employer payment could cover an extra $ 5k managed for free — to a max $ 25 / employee. (wealthsimple.com)