Brief Case
Pension Resource

29 C.F.R. § 2570.30

Scope of this subpart.
eCFR amendment effective 2017-01-01 · superseded Apr 8, 2024
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(a) The rules of procedure set forth in this subpart apply to prohibited transaction exemptions issued by the Department under the authority of:
(2) Section 4975(c)(2) of the Internal Revenue Code of 1986 (the Code); 1 or

1 Section 102 of Presidential Reorganization Plan No. 4 of 1978 (3 CFR part 332 (1978), reprinted in 5 U.S.C. app. at 672 (2006), and in 92 Stat. 3790 (1978)), effective December 31, 1978, generally transferred the authority of the Secretary of the Treasury to issue administrative exemptions under section 4975(c)(2) of the Code to the Department of Labor.

(3) The Federal Employees' Retirement System Act of 1986 (FERSA) (5 U.S.C. 8477(c)(3)).
(b) Under these rules of procedure, the Department may conditionally or unconditionally exempt any fiduciary or transaction, or class of fiduciaries or transactions, from all or part of the restrictions imposed by section 406 of ERISA and the corresponding restrictions of the Code and FERSA. While administrative exemptions granted under these rules are ordinarily prospective in nature, an applicant may also obtain retroactive relief for past prohibited transactions if certain safeguards described in this subpart were in place at the time the transaction was consummated.
(c) These rules govern the filing and processing of applications for both individual and class exemptions that the Department may propose and grant pursuant to the authorities cited in paragraph (a) of this section. The Department may also propose and grant exemptions on its own motion, in which case the procedures relating to publication of notices, hearings, evaluation and public inspection of the administrative record, and modification or revocation of previously granted exemptions will apply.
(d) The issuance of an administrative exemption by the Department under these procedural rules does not relieve a fiduciary or other party in interest or disqualified person with respect to a plan from the obligation to comply with certain other provisions of ERISA, the Code, or FERSA, including any prohibited transaction provisions to which the exemption does not apply, and the general fiduciary responsibility provisions of ERISA which require, among other things, that a fiduciary discharge his or her duties respecting the plan solely in the interests of the participants and beneficiaries of the plan and in a prudent fashion; nor does it affect the requirement of section 401(a) of the Code that the plan must operate for the exclusive benefit of the employees of the employer maintaining the plan and their beneficiaries.
(e) The Department will not propose or issue exemptions upon oral request alone, nor will the Department grant exemptions orally. An applicant for an administrative exemption may request and receive oral advice from Department employees in preparing an exemption application. However, such advice does not constitute part of the administrative record and is not binding on the Department in its processing of an exemption application or in its examination or audit of a plan.
(f) The Department will generally treat any exemption application that is filed solely under section 408(a) of ERISA or solely under section 4975(c)(2) of the Code as an exemption request filed under both section 408(a) and section 4975(c)(2) if it relates to a transaction that would be prohibited both by ERISA and the corresponding provisions of the Code.
29 C.F.R. § 2570.30 — Scope of this subpart. · eCFR amendment effective 2017-01-01 · https://pensionresource.website/EAMain?content=EAMain.Law&id=cfr29-2570.30&asof=2020-01-24 · printed Oct 16, 2026
On this page
  • (a) (a) The rules of procedure set forth in this subpart apply …
  • (b) (b) Under these rules of procedure, the Department may cond…
  • (c) (c) These rules govern the filing and processing of applica…
  • (d) (d) The issuance of an administrative exemption by the Depa…
  • (e) (e) The Department will not propose or issue exemptions upo…
  • (f) (f) The Department will generally treat any exemption appli…
Implements
ERISA § 408 (29 U.S.C. § 1108) Exemptions from prohibited transactions
Guidance addressing this section

No documents are primarily about this section.

Also cited in 18 other documents
Department of Labor (EBSA)
Final Rules
  • 89 FR 4662 Jan 24, 2024 — Procedures Governing the Filing and Processing of Prohibited Transaction Exemption Applications
  • 82 FR 56545 Nov 29, 2017 — 18-Month Extension of Transition Period and Delay of Applicability Dates; Best Interest Contract Exemption (PTE 2016-01); Class Exemption for Principal Transac…
  • 81 FR 21208 Apr 8, 2016 — Amendments to Class Exemptions 75-1, 77-4, 80-83 and 83-1
  • 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
  • 76 FR 66637 Oct 27, 2011 — Prohibited Transaction Exemption Procedures; Employee Benefit Plans (b)
Proposed Rules
  • 87 FR 21600Proposed Apr 12, 2022 — Procedures Governing the Filing and Processing of Prohibited Transaction Exemption Applications Comments due May 29, 2022
  • 87 FR 14722Proposed Mar 15, 2022 — Procedures Governing the Filing and Processing of Prohibited Transaction Exemption Applications Comments due Apr 14, 2022
  • 82 FR 7336Proposed Jan 19, 2017 — Proposed Best Interest Contract Exemption for Insurance Intermediaries
  • 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
  • 75 FR 53172Proposed Aug 30, 2010 — Prohibited Transaction Exemption Procedures; Employee Benefit Plans Comments due Oct 14, 2010 (a)(b)(c)(d)(e)

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EffectiveThroughSourceAmended by
Jul 1, 1997Jun 30, 2012CFR 2011 annual edition (revised as of 2011-07-01)View
Jul 1, 2012Apr 7, 2024eCFR amendment effective 2017-01-01 run 129View · Redline (sign in)
Apr 8, 2024currenteCFR editorial change effective 2024-04-08 run 129View · Redline (sign in)
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