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Pension Resource

ERISA § 409 (29 U.S.C. § 1109)

Liability for breach of fiduciary duty
USC 2024 ed., current through 2025-01-06 · current · last amended by Pub. L. 93-406
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(a) Any person who is a fiduciary with respect to a plan who breaches any of the responsibilities, obligations, or duties imposed upon fiduciaries by this subchapter shall be personally liable to make good to such plan any losses to the plan resulting from each such breach, and to restore to such plan any profits of such fiduciary which have been made through use of assets of the plan by the fiduciary, and shall be subject to such other equitable or remedial relief as the court may deem appropriate, including removal of such fiduciary. A fiduciary may also be removed for a violation of section 1111 of this title.
(b) No fiduciary shall be liable with respect to a breach of fiduciary duty under this subchapter if such breach was committed before he became a fiduciary or after he ceased to be a fiduciary.
Source credit, amendments & notes

(Pub. L. 93–406, title I, §409, Sept. 2, 1974, 88 Stat. 886.)

ERISA § 409 (29 U.S.C. § 1109) — Liability for breach of fiduciary duty · USC 2024 ed., current through 2025-01-06 · https://pensionresource.website/EAMain?content=EAMain.Law&id=usc29-1109&asof=1999-03-16 · printed Oct 16, 2026
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  • (a) (a) Any person who is a fiduciary with respect to a plan wh…
  • (b) (b) No fiduciary shall be liable with respect to a breach o…
Cited by (code & regs)

No regulations are linked to this section in the library.

Guidance addressing this section

No documents are primarily about this section.

Also cited in 20 other documents
Department of Labor (EBSA)
Final Rules
  • 90 FR 4192 Jan 15, 2025 — Voluntary Fiduciary Correction Program
  • 85 FR 40589 Jul 7, 2020 — Conflict of Interest Rule-Retirement Investment Advice: Notice of Court Vacatur
  • 81 FR 21208 Apr 8, 2016 — Amendments to Class Exemptions 75-1, 77-4, 80-83 and 83-1
  • 81 FR 21181 Apr 8, 2016 — Amendment to and Partial Revocation of Prohibited Transaction Exemption (PTE) 86-128 for Securities Transactions Involving Employee Benefit Plans and Broker-De…
  • 81 FR 21147 Apr 8, 2016 — Amendment to and Partial Revocation of Prohibited Transaction Exemption (PTE) 84-24 for Certain Transactions Involving Insurance Agents and Brokers, Pension Co…
  • 81 FR 21139 Apr 8, 2016 — Amendment to Prohibited Transaction Exemption (PTE) 75-1, Part V, Exemptions From Prohibitions Respecting Certain Classes of Transactions Involving Employee Be…
  • 81 FR 21089 Apr 8, 2016 — Class Exemption for Principal Transactions in Certain Assets Between Investment Advice Fiduciaries and Employee Benefit Plans and IRAs
  • 81 FR 21002 Apr 8, 2016 — Best Interest Contract Exemption
  • 81 FR 20946 Apr 8, 2016 — Definition of the Term “Fiduciary”; Conflict of Interest Rule-Retirement Investment Advice
Proposed Rules
  • 87 FR 71164Proposed Nov 21, 2022 — Voluntary Fiduciary Correction Program Comments due Jan 20, 2023
  • 82 FR 7336Proposed Jan 19, 2017 — Proposed Best Interest Contract Exemption for Insurance Intermediaries
  • 81 FR 47534Proposed Jul 21, 2016 — Proposed Revision of Annual Information Return/Reports Comments due Oct 4, 2016 (l)(1)(l)(2)(p)(4)(C)(p)(4)(D)
  • 80 FR 22035Proposed Apr 20, 2015 — Proposed Amendments to Class Exemptions 75-1, 77-4, 80-83 and 83-1 Comments due Jul 6, 2015
  • 80 FR 22021Proposed Apr 20, 2015 — Proposed Amendment to and Proposed Partial Revocation of Prohibited Transaction Exemption (PTE) 86-128 for Securities Transactions Involving Employee Benefit P… Comments due Jul 6, 2015
  • 80 FR 22010Proposed Apr 20, 2015 — Proposed Amendment to and Proposed Partial Revocation of Prohibited Transaction Exemption (PTE) 84-24 for Certain Transactions Involving Insurance Agents and B… Comments due Jul 6, 2015
  • 80 FR 22004Proposed Apr 20, 2015 — Proposed Amendment to Prohibited Transaction Exemption (PTE) 75-1, Part V, Exemptions From Prohibitions Respecting Certain Classes of Transactions Involving Em… Comments due Jul 6, 2015
  • 80 FR 21989Proposed Apr 20, 2015 — Proposed Class Exemption for Principal Transactions in Certain Debt Securities between Investment Advice Fiduciaries and Employee Benefit Plans and IRAs Comments due Jul 6, 2015
  • 80 FR 21960Proposed Apr 20, 2015 — Proposed Best Interest Contract Exemption Comments due Jul 6, 2015
  • 80 FR 21928Proposed Apr 20, 2015 — Definition of the Term “Fiduciary”; Conflict of Interest Rule-Retirement Investment Advice Comments due Jul 6, 2015
  • 75 FR 65263Proposed Oct 22, 2010 — Definition of the Term “Fiduciary” Comments due Jan 20, 2011
Tax Court (2) · DOL/Federal (0)
U.S. Tax Court (2)
Also cite this provision (2)
Private Letter Rulings (1)
Private Letter Rulings (1)
Also cite this provision (1)
  • PLR 200930039 Jul 24, 2009 — Tax on Prohibited Transactions UIL 4975.00-00

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Jan 4, 1995currentUSC 2024 ed., current through 2025-01-06 run 1Pub. L. 93-406View
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