In a timely blog post on our firm’s Pensions and Benefits blog, Squire Patton Boggs’ Stacey Grundman and Joseph Yonadi, Jr. of our Tax Strategy & Benefits practice discussed recent changes to the Department of Labor’s Voluntary Fiduciary Correction Program. The changes added a Self-Correction Component for fiduciary failures and finalized an amendment to an existing prohibited transaction exemption that provides excise tax relief for transactions that have been self-corrected. These new changes become effective March 17, 2025. Read the full update on these important changes here.
