Brief Case

29 C.F.R. § 2570.40

Conferences.
eCFR amendment effective 2024-04-08 · current
Amended effective Apr 8, 2024. See what changed
(a) Any conference between the Department and an applicant pertaining to a requested exemption will be held in Washington, DC, except that a telephone or electronic conference will be held at the applicant's request.
(b) An applicant is entitled to only one conference with respect to any exemption application. The Department may hold additional conferences at its sole discretion if it determines additional conference(s) are appropriate. An applicant will not be entitled to a conference, however, if the Department has held a hearing on the exemption under either § 2570.46 or § 2570.47.
(c) Insofar as possible, conferences will be scheduled as joint conferences with all applicants present if:
(1) More than one applicant has requested an exemption with respect to the same or similar types of transactions;
(2) The Department is considering the applications together as a request for a class exemption;
(3) The Department contemplates not granting the exemption; and
(4) More than one applicant has requested a conference.
(d) In instances where the applicant has requested a conference pursuant to § 2570.38(b) and also has submitted additional information pursuant to § 2570.39, the Department will schedule a conference under this section for a date and time that occurs within 20 days after the date on which the Department has provided either oral or written notification to the applicant that, after reviewing the additional information, it still is not prepared to propose the requested exemption or a later date determined at the Department's sole discretion. If, for reasons beyond its control, the applicant cannot attend a conference within the time limit described in this paragraph (d), the applicant may request an extension of time for the scheduling of a conference, provided that such request is made before the expiration of the time limit. The Department, at its sole discretion, will only grant such an extension in unusual circumstances and for a brief period.
(e) In instances where the applicant has requested a conference pursuant to § 2570.38(b) but has not expressed an intent to submit additional information in support of the exemption application as provided in § 2570.39, the Department will schedule a conference under this section for a date and time that occurs within 40 days after the date of the issuance of the tentative denial letter described in § 2570.38(a) or a later date determined at the sole discretion of the Department. If, for reasons beyond its control, the applicant cannot attend a conference within the time limit described in this paragraph (e), the applicant may request an extension of time for the scheduling of a conference, provided that such request is made before the expiration of the time limit. The Department, at its sole discretion, will only grant such an extension in unusual circumstances and for a brief period.
(f) In instances where the applicant has requested a conference pursuant to § 2570.38(b), notified the Department of its intent to submit additional information pursuant to § 2570.39, and failed to furnish such information within 40 days after the date of issuance of the tentative denial letter, the Department will schedule a conference under this section for a date and time that occurs within 60 days after the date of the issuance of the tentative denial letter described in § 2570.38(a) or a later date as determined at the sole discretion of the Department. If, for reasons beyond its control, the applicant cannot attend a conference within the time limit described in this paragraph (f), the applicant may request an extension of time to schedule a conference, provided that such request is made before the expiration of the time limit. The Department, at its sole discretion, will only grant such an extension in unusual circumstances and for a brief period.
(g) If the applicant fails to either timely schedule or appear for a conference agreed to by the Department pursuant to this section, the applicant will be deemed to have waived its right to a conference.
(h) Within 20 days after the date of any conference held under this section, or a later date determined at the sole discretion of the Department, the applicant may submit to the Department (electronically or in paper form) any additional written data, arguments, or legal authorities discussed at the conference but not previously or adequately presented in writing. If, for reasons beyond its control, the applicant is unable to submit the additional information within this time limit, the applicant may request an extension of time to furnish the information, provided that such request is made before the expiration of the time limit described in this paragraph (h). The Department, at its sole discretion, will only grant such an extension in unusual circumstances and for a brief period.
(i) The Department, at its sole discretion, may hold a conference with any party, including the qualified independent fiduciary or the qualified independent appraiser, regarding any matter related to an exemption request without the presence of the applicant or other parties involved in the exemption transaction, or their representatives. Any such conferences may occur in addition to the conference with the applicant described in paragraph (b) of this section.
29 C.F.R. § 2570.40 — Conferences. · eCFR amendment effective 2024-04-08 · https://pensionresource.website/EAMain?content=EAMain.Law&id=cfr29-2570.40 · printed Oct 16, 2026
On this page
  • (a) (a) Any conference between the Department and an applicant …
  • (b) (b) An applicant is entitled to only one conference with re…
  • (c) (c) Insofar as possible, conferences will be scheduled as j…
  • (d) (d) In instances where the applicant has requested a confer…
  • (e) (e) In instances where the applicant has requested a confer…
  • (f) (f) In instances where the applicant has requested a confer…
  • (g) (g) If the applicant fails to either timely schedule or app…
  • (h) (h) Within 20 days after the date of any conference held un…
  • (i) (i) The Department, at its sole discretion, may hold a conf…
Implements
ERISA § 408 (29 U.S.C. § 1108) Exemptions from prohibited transactions
Cited by (code & regs)
Guidance addressing this section

No documents are primarily about this section.

Also cited in 4 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 (b)
  • 76 FR 66637 Oct 27, 2011 — Prohibited Transaction Exemption Procedures; Employee Benefit Plans (e)(f)(g)
Proposed Rules
  • 87 FR 14722Proposed Mar 15, 2022 — Procedures Governing the Filing and Processing of Prohibited Transaction Exemption Applications Comments due Apr 14, 2022 (b)
  • 75 FR 53172Proposed Aug 30, 2010 — Prohibited Transaction Exemption Procedures; Employee Benefit Plans Comments due Oct 14, 2010 (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 amendment effective 2024-04-08 run 129View · Redline (sign in)
Provision-level history (blame)