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Assuming Client pushes you about the Crummey Letters, and upon learning of the Crummey requirement and consequences of not filing a Crummey Letter asks you
Assuming Client pushes you about the Crummey Letters, and upon learning of the Crummey requirement and consequences of not filing a Crummey Letter asks you to back date Crummey Letters for each of the past 10 years, especially since your firm should have informed client of this requirement a long time ago. At this point in time, you should:
- Politely tell the Client that you cannot do that and leave it at that
- Politely tell the Client that you cannot do that and then report Clients actions to the IRS
- Politely tell the Client that you cannot do that and demand from you supervisor that you drop the Client to avoid potential liability
- Prepare back dated Crummey Letters because you know that Client would have prepared the Crummey Letters if they had known of the requirement
- Drop the client because of a conflict of interest.
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