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    • Fee Disclosures - 3 Month Extension

    Yesterday, the Department of Labor (DOL) released the final rule on 401(k) fee disclosures – Section 408(b)(2).  The deadline for providing the required disclosures was extended by three months to July 1, 2012.

    The date by which the participant-level disclosures for participant-directed plans must be provided is tied to the Section 408(b)(2) disclosure effective date - that date is now extended to August 30, 2012, with the first quarterly statements under the rules for calendar-year plans due by November 14, 2012.

    The final ruling was not clear if the DOL would require a specific format for the disclosure.  

    Check back for updates as they develop.

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    Scott M Dufek, CPA | 02/03/2012