The Employee Benefits Security Administration Extends Disclosure Rules Deadline to April 1st, 2012

In July, the Employee Benefits Security Administration (EBSA) has extended the July 16, 2011 deadline under Section 408(b)(2) of ERISA to April 1, 2012 in order to allow service providers more time to comply with their disclosure fees for plan fiduciaries.  EBSA also amended the participant disclosure rules under the transitional rule in subsection (j)(3)(i) of ERISA to 60 days after the first day of a new plan starting on or after November 1, 2011, or 60 days after the new April 1, 2012 deadline.

See "EBSA Postpones Applicability Date of Service Provider Fee Disclosure Rules," International Foundation, ifebp.org.

 Posted by EJ Antezana, Associate Editor, Wealth Strategies Journal