Department of Labor Delays Rollover Exemption Enforcement!

The DOL has just announced a Temporary Enforcement Policy regarding it’s Prohibited Transaction Exemption (PTE) 2020-02. The announcement that came out October 25, 2021 stated that the Department has determined that it will not enforce the specific documentation and disclosure requirements for rollovers in PTE 2020-02 through June 30, 2022. All other requirements of the exemption, however, will be subject to full enforcement as of February 1, 2022. The Department is convinced that this temporary and limited enforcement relief is appropriate and in the interest of plans, plan fiduciaries, plan participants and beneficiaries, I

RAs, and IRA owners.