service provider disclosure

[Scuba 401]

my reading of the regulations says that there is no ongoing obligation for service providers to disclose compensation received from the plan. rather the obligation is initially upon entering into a new contract or the renewal or modification of an existing agreement. of course you have to disclosure under the regs for all existing arrangements. can someone confirm please>?

[Jim Chad]

I think the answer is yes and no.

Here is my take, FWIW

First a hint that helped me keep straight which is which. 404c was voluntary disclosure to Participants. 404a is mandatory disclosure to participants. and 408b is the other one... disclosure to Plan sponsor.

Now to your question. 408 requires we disclose what we expect to receive annually. I think we can give the same notice every year, until there are changes.

404 requires we disclose what we received to the Participants and I expect the plan sponsor will always see this.

Anyone else have a different take?

[Scuba 401]

I think the answer is yes and no.

Here is my take, FWIW

First a hint that helped me keep straight which is which. 404c was voluntary disclosure to Participants. 404a is mandatory disclosure to participants. and 408b is the other one... disclosure to Plan sponsor.

Now to your question. 408 requires we disclose what we expect to receive annually. I think we can give the same notice every year, until there are changes.

404 requires we disclose what we received to the Participants and I expect the plan sponsor will always see this.

Anyone else have a different take?

i don't see an annual requirement in 408. i am referring to 408 btw. i think it can't hurt to disclose annually but i don't see it in the regulations.