US EditionDOL Expands Fiduciary Breach Correction Options - Varnum LLP
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DOL Expands Fiduciary Breach Correction Options - Varnum LLP
The United States Department of Labor (DOL) has updated its procedures for correcting certain fiduciary violations. This expansion allows employers to self-correct a broader range of errors, aligning the program more closely with the IRS’s recently updated correction procedures. If certain conditions are met, the new guidance allows for self-correcting some of the most common fiduciary violations, such as late contributions, late loan repayments…
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