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DOL/EBSA

RIN: 1210-AA73

Publication ID: Fall 1998

Title: ●Amendment of Small Plan Exemption From Audit Requirement
Abstract: This initiative would amend the conditions under which small pension plans (i.e., those with fewer than 100 participants) will be exempt from the requirements of section 103(a)(3)(A) to engage an independent qualified public accountant and to include the report of such accountant as part of the plan's annual report. Specifically, the amendment would condition the availability of the exemption on plan assets being held by an approved institution, the approved institution providing a certification of the assets held, and the availability of such certifications to plan participants and beneficiaries. This initiative is being undertaken to improve security and accountability with respect to assets of small employee pension benefit plans.
Agency: Department of Labor(DOL)	Priority: Other Significant
RIN Status: First time published in the Unified Agenda	Agenda Stage of Rulemaking: Proposed Rule Stage
Major: Undetermined	Unfunded Mandates: Undetermined
CFR Citation: 29 CFR 2520.104-41 29 CFR 2520.104.46
Legal Authority: 29 USC 1135 29 USC 1024 29 USC 1191c Secretary of Labor's Order No. 1-87, April 21,1987

Timetable:

Action	Date	FR Cite
NPRM	12/00/1998

Regulatory Flexibility Analysis Required: Undetermined	Government Levels Affected: None
Included in the Regulatory Plan: No
Agency Contact: John Keene Pension Law Specialist Department of Labor Employee Benefits Security Administration Room N5669, 200 Constitution Avenue NW, FP Building, Washington, DC 20210 Phone:202 219-8521