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'Self Correctors' Beware: Expanded DOL Correction Program
Kutak Rock LLP 
[Guidance Overview] May 12, 2026 "Effective March 17, 2025, the [DOL] finalized several changes to its Voluntary Fiduciary Correction Program (VFCP). The DOL highly recommends that all late deposits of salary deferrals or loan payments be corrected under the VFCP and monitors these errors that are required to be reported on Form 5500 filings.... Plan sponsors should be aware that in connection with these changes, the DOL announced that fiduciaries have an obligation to implement a program to monitor, on at least a quarterly basis, that withholdings of deferrals and loan payments are timely deposited." MORE >> |
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