DOL Compliance Guidance for Harvey Affected Plans

The DOL has issued compliance guidance for plans impacted by Hurricane Harvey.

Document Excerpt
The Department understands that plan fiduciaries, employers, labor organizations, service providers, and participants and beneficiaries may encounter issues complying with the Employee Retirement Income Security Act (ERISA) in the foreseeable future as the effects of Hurricane Harvey become apparent. The guidance provided in this statement applies generally to employee benefit plans, plan sponsors, employers and employees, and service providers to such employers who are located in a county identified for individual assistance by the Federal Emergency Management Agency (FEMA) due to the effects of Hurricane Harvey.

This relief is in addition to Form 5500 Annual Return/Report filing relief already provided by the Internal Revenue Service (IRS) in accordance with the Hurricane Harvey news release listed on the IRS disaster relief website page at https://www.irs.gov/newsroom/tax-relief-for-victims-of-hurricane-harvey-in-texas. See the Treasury regulations under Internal Revenue Code ยง 7508A and Section 8 of Rev. Proc. 2007-56, 2007-34 I.R.B. 388.

Link

https://www.dol.gov/newsroom/releases/ebsa/ebsa20170830

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