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DOL/EBSA RIN: 1210-AB64 Publication ID: Fall 2023 
Title: Adoption of Amended and Restated Voluntary Fiduciary Correction Program 

The Employee Benefits Security Administration (EBSA) is amending and restating its Voluntary Fiduciary Correction Program (VFCP) under the Employee Retirement Income Security Act of 1974 (ERISA), which originally was adopted in 2002 and revised in 2005 and 2006. The VFCP is designed to encourage the voluntary correction of fiduciary violations by permitting persons to avoid potential civil actions and civil penalties if they take steps to correct identified violations in a manner consistent with the VFCP. The amendments will expand the scope of some transactions currently eligible for correction and streamline correction procedures for certain others. EBSA will issue a restatement of the VFCP in its entirety and request public comments.  EBSA also will propose an amendment to the related prohibited transaction class exemption.

Agency: Department of Labor(DOL)  Priority: Other Significant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: No  Unfunded Mandates: No 
CFR Citation: Not Yet Determined     (To search for a specific CFR, visit the Code of Federal Regulations.)
Legal Authority: 29 U.S.C. 1132(a)(2) and (5)    29 U.S.C. 1136(b)    29 U.S.C. 1108(a)    26 U.S.C. 4975(c)(2)   
Legal Deadline:  None
Action Date FR Cite
Notice of Amendments; Request for Comments  11/21/2022  87 FR 71164   
Notice of Amendments Comment Period End  01/20/2023 
NPRM Comment Period Reopened  02/14/2023  88 FR 9409   
Reopening Comment Period End  04/17/2023 
Final Amendments  12/00/2023 
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Jeffrey J. Turner
Deputy Director, Office of Regulations and Interpretations
Department of Labor
Employee Benefits Security Administration
Room N5669, 200 Constitution Avenue NW, FP Building, Room N-5655,
Washington, DC 20210
Phone:202 693-8500