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DOL Advisory Opinion 2004-07A: Fidelity Bond Rules for Trust Company Subsidiary of Bank Holding Co.
Employee Benefits Security Administration [EBSA], U.S. Department of Labor [DOL]Link to more items from this source
July 12, 2004

July 2, 2004. Excerpt: [Y[ou ask whether the First Commonwealth Trust Company (FCTC) is exempt from ERISA's fidelity bonding requirement pursuant to the statutory exemption in section 412(a)(2) of ERISA with respect to plans for which FCTC acts in a fiduciary capacity. You also ask whether FCTC would be covered by the regulatory exemption in 29 C.F.R. Sections 2580.412-27 and 412-28 applicable to certain banking institutions and trust companies subject to federal regulation.

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