United States Government Publishing Office publisher pbl distributor dst United States National Archives and Records Administration Office of the Federal Register author aut Government Organization text government publication eng FR Regulatory Information 2022_register executive 2022-11-19 article Proposed Rules D09002ee1c7a0c829 D09002ee1c7a0c8b6 United States Department of Labor originator org United States Government Agency or Subagency United States Employee Benefits Security Administration originator org United States Government Agency or Subagency This document gives notice of a proposed amendment to Prohibited Transaction Exemption 2002-51, an exemption for certain transactions identified in the Department's Voluntary Fiduciary Correction Program (VFC Program or VFCP). The VFC Program allows persons who may have engaged in a breach of fiduciary duty under the Employee Retirement Income Security Act (ERISA) to correct the breach and avoid certain Department of Labor-initiated civil actions and assessment of civil penalties. PTE 2002-51 (the VFCP Class Exemption) is a related class exemption that provides an exemption from excise taxes imposed by the Internal Revenue Code of 1986, as amended, for certain eligible transactions corrected pursuant to the VFC Program. This amendment to the VFCP Class Exemption is being proposed in connection with the Department's amendment and restatement of the VFC Program, published elsewhere in today's issue of the Federal Register (2022 Program Notice). If granted, the amendment to the VFCP Class Exemption would affect plans, participants and beneficiaries of such plans, and certain other persons engaging in such transactions. 87 FR 70753 https://www.govinfo.gov/app/details/FR-2022-11-21/2022-24702 2022-24702 fr21no22-14 RIN 1210-ZA23 4510-29-P Application No. D-11799 https://www.govinfo.gov/app/details/FR-2022-11-21/2022-24702 https://www.govinfo.gov/content/pkg/FR-2022-11-21/html/2022-24702.htm https://www.govinfo.gov/content/pkg/FR-2022-11-21/pdf/2022-24702.pdf 6 p. 70753 70758 87 FR 70753 Title 29 Part 2550 29 CFR Part 2550 RIN 1210-ZA23 Prohibited Transaction Exemption (PTE) 2002-51 To Permit Certain Transactions Identified in the Voluntary Fiduciary Correction Program; Federal Register Vol. 87, Issue PRORULE 2022-24702 DEPARTMENT OF LABOR Employee Benefits Security Administration 2023-01-20 Application No. D-11799 4510-29-P 2022-24702 Proposed amendment to prohibited transaction exemption.

This document gives notice of a proposed amendment to Prohibited Transaction Exemption 2002-51, an exemption for certain transactions identified in the Department's Voluntary Fiduciary Correction Program (VFC Program or VFCP). The VFC Program allows persons who may have engaged in a breach of fiduciary duty under the Employee Retirement Income Security Act (ERISA) to correct the breach and avoid certain Department of Labor-initiated civil actions and assessment of civil penalties. PTE 2002-51 (the VFCP Class Exemption) is a related class exemption that provides an exemption from excise taxes imposed by the Internal Revenue Code of 1986, as amended, for certain eligible transactions corrected pursuant to the VFC Program. This amendment to the VFCP Class Exemption is being proposed in connection with the Department's amendment and restatement of the VFC Program, published elsewhere in today's issue of the Federal Register (2022 Program Notice). If granted, the amendment to the VFCP Class Exemption would affect plans, participants and beneficiaries of such plans, and certain other persons engaging in such transactions.

Written comments on the proposed amendment must be received by the Department by January 20, 2023. Susan Wilker, Office of Exemption Determinations, Employee Benefits Security Administration, U.S. Department of Labor, telephone number (202) 693-8540 (this is not a toll-free number). Prohibited Transaction Exemption 200251 to Permit Certain Transactions Identified in the Voluntary Fiduciary Correction Program, http://www.dol.gov/ebsa http://www.regulations.gov www.dol.gov/ebsa Vol. 87, no. 223 Office of the Federal Register, National Archives and Records Administration 2022-11-21 continuing daily deposited born digital 509 p. Table of Contents: AE 2.7: GS 4.107: AE 2.106: KF70.A2 https://www.govinfo.gov/app/details/FR-2022-11-21 P0b002ee1b886a590 0097-6326 0042-1219 0364-1406 769-004-00000-9 000582072 f:fr21no22 https://www.govinfo.gov/app/details/FR-2022-11-21 https://www.govinfo.gov/content/pkg/FR-2022-11-21/pdf/FR-2022-11-21.pdf https://www.govinfo.gov/content/pkg/FR-2022-11-21/xml/FR-2022-11-21.xml fdlp 70701 71201 DGPO 2022-11-19 2024-05-29 FR-2022-11-21 machine generated eng FR FR-2022-11-21 87 223