Retirement Clearing House Prohibited Transaction Exemption

Document Excerpt

This document contains a notice of a five-year exemption issued by the Department of Labor (the Department) from the restrictions of the Internal Revenue Code of 1986, as amended (the Code). The exemption permits RCH to receive certain fees in connection with the transfer under the RCH Program, of an individual’s Default IRA or Eligible Mandatory Distribution Account assets to the individual’s New Plan Account, without the individual’s affirmative consent, provided the conditions described below are satisfied.

Link
https://www.federalregister.gov/documents/2019/07/31/2019-16237/notice-of-exemption-involving-retirement-clearinghouse-llc-rch-or-the-applicant-located-in-charlotte

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