Voluntary Fiduciary Correction Program

This document is about the Voluntary Fiduciary Correction Program (VFCP) established by the U.S. Department of Labor's Employee Benefits Security Administration. It explains the purpose of the program, which allows plan officials to identify and correct certain fiduciary violations under ERISA, such as prohibited transactions, delinquent participant contributions, and improper plan expenses. The document outlines the eligibility requirements, application procedures, eligible transactions, and acceptable correction methods under the VFCP. It also discusses the issuance of no-action letters and the coordination between EBSA and the IRS regarding these voluntary corrections.