Employee Benefit Security Agency and IRS Provide COVID-19 Relief for Employee Benefit Plan Deadlines

    May 2020

    The US Department of Labor (DOL) recently announced deadline relief for employee benefit plan notices, disclosures and document deadlines that must be furnished between March 1, 2020 and 60 days after the announced end of the coronavirus disease 2019 (COVID-19) National Emergency (“Outbreak Period”), if the employee benefit plan and responsible fiduciary act in good faith and furnish the notice, disclosure, or document as soon as administratively practicable under the circumstances. In addition, the guidance sets forth a guiding principle for plan fiduciaries: plans “should make reasonable accommodations to prevent the loss of benefits or undue delay in benefit payments and should attempt to minimize the possibility of losing benefits because of a failure to comply with pre-established timeframes.”