EBSA issues proposed regs on electronic filing of top-hat plan statements, apprenticeship and training plan notices

The Employee Benefits Security Administration (EBSA) has issued proposed regulations that would require electronic filing of “top-hat” plan statements, and apprenticeship and training plan notices. Comments on the proposed rules are due by December 29, 2014.

Internet-based filing

The proposed regulations would revise ERISA Reg. §2520.104-22(c) and ERISA Reg. §2520.104-23(c) to require internet-based electronic filing of apprenticeship and training plan notices and top-hat plan statements with the Labor Department through EBSA’s website. Once they are filed, these notices and statements would be posted on the Department’s website at http://www.dol.gov/ebsa and be available to the public.

“The submission process would be easy to use because the web portal would include instructions for using the electronic filing system and also would assist administrators by ensuring that all of the information required by the regulations would be included in the notice or statement before the filing could be completed through the website,” according to the Labor Department. In addition, the process would provide an electronic confirmation to the administrator that the filing had been received by EBSA. This assurance would provide a benefit to apprenticeship and training plan administrators and top-hat plan administrators that is not available through the existing paper-based filing system, the DOL noted.

The Labor Department has launched its new web-based filing system for the notices described above (see http://www.dol.gov/ebsa). Use of this system in lieu of paper-based filing is voluntary pending the adoption of final regulations. However, the DOL encourages administrators of apprenticeship and training plans and administrators of top-hat plans to file their plan notices and statements using this new system. The DOL proposes that the final rules would become effective on their date of publication in the Federal Register and applicable to all filings made on or after 120 days after that date. After the applicability date, the website filing system would be the exclusive method of filing these notices and statements. Filings by mail and personal delivery would no longer be acceptable.

Comments requested

Comments on the proposed regulations are due on or before December 29, 2014. Comments may be submitted by one of the following methods:

Federal eRulemaking Portal: http://www.regulations.gov. Follow the instructions for submitting comments.
Email: e-ORI@dol.gov. Include RIN 1210-AB62 in the subject line of the message.

Mail or personal delivery: Office of Regulations and Interpretations, Employee Benefits Security Administration, Room N-5655, U.S. Department of Labor, 200 Constitution Avenue, NW., Washington, DC 20210.

Source: 79 FR 58720.

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