Plan sponsor checklist

Compliance with ERISA Section 404(c) is not mandatory. However, the U.S. Department of Labor effectively removed the majority of the disclosure requirements required under ERISA Section 404(c), by supplanting them with the mandatory requirements of the ERISA Section 404(a)(5) participant fee disclosure regulations enacted in October 2010.

Compliance with ERISA Section 404(a)(5) effectively leaves only two remaining disclosures specifically dedicated to compliance with ERISA Section 404(c), namely:

  • The plan must state it intends to comply with ERISA Section 404(c).
  • Where employer securities are offered to plan participants, the plan offers information regarding the holding and tender of employer’s securities and the voting rights associated with employer securities.

You may use the following checklist to learn about the major requirements of ERISA 404(c).

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