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[Official Guidance]

4/7/2006: Text of Amendment to PTE 80-26 Permitting Interest-Free Loans from Sponsor to a Benefit Plan (U.S. Department of Labor [DOL])
Excerpt: [T]he final amendment to PTE 80-26 adopted by this notice adds a condition to availability of the exemption that requires any loan with a duration of more than sixty days to be made pursuant to a written loan agreement that contains all of the material terms applicable to such loan.... On December 15, 2004, the Department proposed to remove the three- day duration limit that applied to loans engaged in under PTE 80-26 for a purpose incidental to the ordinary operation of a plan.
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