82 FR 56545 — 18-Month Extension of Transition Period and Delay of Applicability Dates; Best Interest Contract Exemption (PTE 2016-01); Class Exemption for Principal Transac… ERISAFinal Rules (FR)Nov 29, 2017★ strong match
…d further uncertainty and confusion to the current situation.”).
Back to Citation
37.
On March 28, 2017, the Treasury Department and the IRS issued IRS Announcement 2017-4 stating that the IRS will not apply § 4975 (which provides excise taxes relating to prohibited transactions) and related reporting obligations with…
89 FR 32260 — Amendment to Prohibited Transaction Exemption 2020-02 ERISAFinal Rules (FR)Apr 25, 2024related by meaning
as domestic crimes and are signs of potential serious compliance and integrity failures, whether prosecuted domestically or in foreign jurisdictions. The Department does not expect that questions regarding “substantially equivalent” will arise frequently, and even less so with the Final Amendment's use of the term “Co…
82 FR 16902 — Definition of the Term “Fiduciary”; Conflict of Interest Rule-Retirement Investment Advice; Best Interest Contract Exemption (Prohibited Transaction Exemption … ERISAFinal Rules (FR)Apr 7, 2017
extend from June 9, 2017, to January 1, 2018, rather than April 10, 2017, to January 1, 2018. Section IX(d)(1), which sets forth
( printed page 16918) Impartial Conduct Standards, is applicable June 9, 2017. The remaining conditions of Section IX(d) are not applicable in the Transition Period. These conditions are also…
89 FR 32346 — Amendment to Prohibited Transaction Exemptions 75-1, 77-4, 80-83, 83-1, and 86-128 ERISAFinal Rules (FR)Apr 25, 2024related by meaning
nd in its text, PTE 2020-02 has been broadly amended to encompass compensation for advice irrespective of the product recommended.
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6. ERISA section 408(a) and Code section 4975(c)(2), expressly permit the Department (through the Reorganization Plan No. 4 of 1978) to grant “a conditional or uncondition…
88 FR 75979 — Proposed Amendment to Prohibited Transaction Exemption 2020-02 ERISAProposed Rules (FR)Proposed Nov 3, 2023related by meaning
n addition, the Department is proposing to amend other class prohibited transaction exemptions that provide relief for fiduciary investment advice.[2] Parties that have been relying on those exemptions may choose to comply with the amended PTE 2020-02 instead. The Department requests comment on whether other or additio…
82 FR 5373 — Department of Labor Federal Civil Penalties Inflation Adjustment Act Annual Adjustments for 2017 ERISAFinal Rules (FR)Jan 18, 2017
…sed after the effective date of this rule.[4] Accordingly, for penalties assessed after January 13, 2017, whose associated violations occurred after November 2, 2015, the higher penalty amounts outlined in this rule will apply. The table below demonstrates the penalty amounts that apply:
Violations occurring
Penalty as…
81 FR 21181 — Amendment to and Partial Revocation of Prohibited Transaction Exemption (PTE) 86-128 for Securities Transactions Involving Employee Benefit Plans and Broker-De… ERISAFinal Rules (FR)Apr 8, 2016related by meaning
tion.
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14.
67 FR 64137 (October 17, 2002).
Back to Citation
15.
See
Advisory Opinion 2011-08A (June 21, 2011).
Back to Citation
16. As noted above, for purposes of this amendment, the terms “Individual Retirement Account” or “IRA” mean any account or annuity described in Code section 4975(e)(1)(B) t…
90 FR 3667 — Prohibited Transaction Exemption (PTE) 2002-51 To Permit Certain Transactions Identified in the Voluntary Fiduciary Correction Program ERISAFinal Rules (FR)Jan 15, 2025related by meaning
act me if you have any questions at [Insert Telephone Number of a Person Employed by the Applicant Who Is Knowledgeable About this Matter].
Sincerely, [Insert Name and Title of Person Employed by the Applicant]
Footnotes
1.
Under Reorganization Plan No. 4 of 1978, 5 U.S.C. App., the authority of the Secretary of Treas…
85 FR 82798 — Prohibited Transaction Exemption 2020-02, Improving Investment Advice for Workers & Retirees ERISAFinal Rules (FR)Dec 18, 2020★ strong match
Citation
40.
On March 28, 2017, the Treasury Department and the IRS issued IRS Announcement 2017-4 stating that the IRS will not apply § 4975 (which provides excise taxes relating to prohibited transactions) and related reporting obligations with respect to any transaction or agreement to which the Labor Department's…
82 FR 57664 — 18-Month Extension of Transition Period and Delay of Applicability Dates; Best Interest Contract Exemption (PTE 2016-01); Class Exemption for Principal Transac… ERISAFinal Rules (FR)Dec 7, 2017★ strong match
… by the CRA for major rules. This document corrects that error.
II. Correction of Errors
In FR Doc. 2017-25760 of November 29, 2017 (82 FR 56545), make the following preamble corrections:
1. On page 56557, second column, correct footnote 66 to read “
See, e.g.,
Comment Letter #121 (HSBC North America Holdings Inc.); Co…
80 FR 22021 — Proposed Amendment to and Proposed Partial Revocation of Prohibited Transaction Exemption (PTE) 86-128 for Securities Transactions Involving Employee Benefit P… ERISAProposed Rules (FR)Proposed Apr 20, 2015related by meaning
s) earned in connection with the transactions covered by the exemption.
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7.
67 FR 64137 (October 17, 2002).
Back to Citation
8.
See Advisory Opinion 2011-08A (June 21, 2011).
Back to Citation
9.
This proposal would move the definitions from Section I to Section VII. The other sections are re-ordered…
82 FR 31278 — Request for Information Regarding the Fiduciary Rule and Prohibited Transaction Exemptions ERISAProposed Rules (FR)Proposed Jul 6, 2017
…d financial advice. The President's Memorandum was published in the
Federal Register
on February 7, 2017. 82 FR 9675 (Feb. 7, 2017). On March 2, 2017, the Department published a document proposing a 60-day delay of the applicability date of the Rule and PTEs. It also sought public comments on the questions raised in th…
82 FR 12319 — Definition of the Term “Fiduciary”; Conflict of Interest Rule-Retirement Investment Advice; Best Interest Contract Exemption (Prohibited Transaction Exemption … ERISAProposed Rules (FR)Proposed Mar 2, 2017★ strong match
8, 2016), as corrected at 81 FR 44773 (July 11, 2016)) is amended by removing the date “April 10, 2017” and adding in its place “June 9, 2017” as the Applicability date
in the introductory
DATES
section and in Section IX of the exemption.
The Class Exemption for Principal Transactions in Certain Assets Between Investm…
88 FR 75890 — Retirement Security Rule: Definition of an Investment Advice Fiduciary ERISAProposed Rules (FR)Proposed Nov 3, 2023
…ion
441.
Oxford Economics,
How the Fiduciary Rule Increases Costs and Decreases Choice,
(April 15, 2017). Back to Citation
442.
Comment letter submitted by dated on April 17, 2017 (#1413).
Back to Citation
443.
Comment letter by Lincoln Financial Network dated March 17, 2017 (#1420).
Back to Citation
444.
John Crab…
84 FR 213 — Department of Labor Federal Civil Penalties Inflation Adjustment Act Annual Adjustments for 2019 ERISAFinal Rules (FR)Jan 23, 2019
…es that the Department administers and requested comments. See81 FR 43430 (DOL IFR). On January 18, 2017, the Department published the final rule establishing the 2017 Annual Adjustment for those civil monetary penalties adjusted in the DOL IFR.
See82 FR 5373 (DOL 2017 Annual Adjustment). On July 1, 2016, the U.S. Depa…
82 FR 41365 — Extension of Transition Period and Delay of Applicability Dates; Best Interest Contract Exemption (PTE 2016-01); Class Exemption for Principal Transactions in … ERISAProposed Rules (FR)Proposed Aug 31, 2017★ strong match
…xamination and analysis directed by the Presidential Memorandum. Request for Information
On July 6, 2017, the Department published in the
Federal Register
a Request for Information (RFI). 82 FR 31278. The purpose of the RFI was to augment some of the public commentary and input received in response to the March 2, 2017…
85 FR 2292 — Department of Labor Federal Civil Penalties Inflation Adjustment Act Annual Adjustments for 2020 ERISAFinal Rules (FR)Jan 15, 2020
…es that the Department administers and requested comments. See81 FR 43430 (DOL IFR). On January 18, 2017, the Department published the final rule establishing the 2017 Annual Adjustment for those civil monetary penalties adjusted in the DOL IFR.
See82 FR 5373 (DOL 2017 Annual Adjustment). On July 1, 2016, the U.S. Depa…
29 C.F.R. § 2520.104b-3(b) — Summary of material modifications to the plan and changes in the information required to be included in the summary plan description. ERISARegulationsJan 1, 2017
(b) (b) The summary of material modifications to the plan or changes in information required to be included in the summary plan description need not be furnished separately if the changes or modifications are described in a timely summary plan description. For example, a calendar year plan adopts a material modificatio…
83 FR 53534 — Definition of “Employer” Under Section 3(5) of ERISA-Association Retirement Plans and Other Multiple-Employer Plans ERISAProposed Rules (FR)Proposed Oct 23, 2018
…or American Workers Act,” sponsored by Rep. Vern Buchanan and five bipartisan cosponsors on Feb. 3, 2017, its Senate companion bill, S. 1383, the “Retirement Security Act,” sponsored by Sens. Susan Collins (R-ME) and Bill Nelson (D-FL) on June 6, 2017; .H.R. 4523, the “Automatic Retirement Act of 2017,” sponsored by Re…
82 FR 29236 — Definition of Employee Pension Benefit Plan Under ERISA ERISAFinal Rules (FR)Jun 28, 2017
…ied state political subdivisions. The December 20, 2016, final rule became effective on January 19, 2017. (81 FR 59464, Aug. 30, 2016). On February 15, 2017, the United States House of Representatives, under authority of the Congressional Review Act (5 U.S.C. 801
et seq.), passed joint resolution H.J. Res. 66 disapprov…