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DOL/EBSA RIN: 1210-AC21 Publication ID: Spring 2023 
Title: ●Exemption for Certain Automatic Portability Transactions 

Section 120 of SECURE 2.0 Act of 2022 amends section 4975 of the Internal Revenue Code (Code) to add a statutory exemption for the receipt of fees and compensation by the automatic portability provider for services provided in connection with an automatic portability transaction, as defined.  This regulation implements the purposes of these amendments.  With certain exceptions not relevant here, section 102 of Reorganization Plan No. 4 of 1978 transfers all authority of the Secretary of Treasury to issue regulations, rulings, opinions, and exemptions under section 4975 of the Code to the Secretary of Labor.

Agency: Department of Labor(DOL)  Priority: Other Significant 
RIN Status: First time published in the Unified Agenda Agenda Stage of Rulemaking: Prerule Stage 
Major: Undetermined  Unfunded Mandates: Undetermined 
CFR Citation: Not Yet Determined     (To search for a specific CFR, visit the Code of Federal Regulations.)
Legal Authority: SECURE 2.0 Act of 2022, sec. 120   
Legal Deadline:
Action Source Description Date
Final  Statutory    12/29/2023 
Action Date FR Cite
Stakeholder Meetings  06/00/2023 
Regulatory Flexibility Analysis Required: Undetermined  Government Levels Affected: Undetermined 
Federalism: Undetermined 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Erin Hesse
Employee Benefits Law Specialist
Department of Labor
Employee Benefits Security Administration
122 C Street NW,
Washington, DC 20210
Phone:202 693-8546