Voluntary Fiduciary Correction Program

The program provides a method for voluntary correction of specified types of transactions that violate (or are suspected of violating) the prohibited transaction provisions of ERISA and for securing the Department's assurance that it will take no further action with respect to the corrected transaction. The exemption relieves applicants who make corrections under the Program of penalties under section 4975 of under the Internal Revenue Code under specified conditions.

The latest form for Voluntary Fiduciary Correction Program expires 2022-04-30 and can be found here.