Please note:
This checklist is a general guide for compliance under ERISA and related federal law. It is not comprehensive and does not replace a full legal or fiduciary review. It should not be filed with Form 5500.

Plan sponsors and fiduciaries should regularly review guidance from the U.S. Department of Labor, Employee Benefits Security Administration, and Internal Revenue Service.

If you answer “No” to any question below, further review is recommended:

1. Have you timely provided:
    
   • Summary Plan Descriptions (SPD)
      
   • Summaries of Material Modifications (SMM)
      
   • Summary Annual Reports (SAR)
      
   • Required fee disclosures (404a-5 / 408b-2)?
      

1. Are all governing documents current, signed, and stored electronically and physically?
    
2. Do you respond to participant document requests within 30 days?
    
3. Are claims and appeals procedures:
    
   • Updated
      
   • Consistent with DOL regulations
      
   • Followed in practice?
      

1. Is the plan covered by a current ERISA fidelity bond?
    
2. Are investment policies reviewed at least annually?
    
3. Are participants provided with sufficient investment and fee information?
    
4. Are fiduciary decisions documented and supported?
    
5. Are employee deferrals remitted as soon as administratively feasible?
    
6. Are benefits calculated and paid accurately and timely?
    
7. Are cybersecurity and data privacy controls documented and tested?
    
8. Are required lifetime income disclosures included on benefit statements?
    
9. Are participant communications compliant with electronic disclosure rules?
    

If you answer “Yes”, review immediately:

1. Has the plan engaged in transactions with related parties?
    
2. Has any fiduciary used plan assets for personal benefit?
    
3. Have unreasonable, undocumented, or non-plan expenses been paid?
    
4. Are revenue-sharing arrangements properly disclosed and monitored?
    
5. Are service provider fees benchmarked?
    
6. Are rollover and advice arrangements reviewed for conflicts?
    

Confirm compliance with:

• Form 5500 / 5500-SF / 5500-EZ (including electronic filing)
   
• Auditor reports (if applicable)
   
• Schedule C fee reporting
   
• Group health plan filings
   
• PBGC premiums (DB plans)
   

PBGC matters involve the Pension Benefit Guaranty Corporation.

Key risk areas identified through examinations include:

• Late or incomplete funding notices
   
• Incorrect AFTAP certifications
   
• Improper use of prefunding balances
   
• Late quarterly contributions
   
• Improper actuarial assumptions
   
• Incorrect compensation or service definitions
   
• Violations of Code §436 benefit limits
   
• Misapplication of §417(e) lump sum rates
   

Failure may trigger:

• Excise taxes
   
• Correction programs
   
• Qualification risks
   

Plans should confirm compliance with:

• Automatic enrollment (where applicable)
   
• Increased RMD age
   
• Roth catch-up rules (as implemented)
   
• Emergency savings accounts
   
• Student loan matching
   
• Saver’s match
   
• Required paper/electronic disclosures
   

Plans should maintain:

• Written cybersecurity policies
   
• Vendor security due diligence
   
• Incident response plans
   
• Encryption and access controls
   
• Participant data protection audits
   

Cybersecurity failures are now a primary enforcement focus.

Ongoing obligations include:

• SBC distribution
   
• No lifetime/annual limits
   
• Mental Health Parity compliance
   
• Transparency in Coverage (machine-readable files)
   
• Prescription drug reporting
   
• No Surprises Act protections
   
• Price comparison tools
   
• Broker/consultant compensation disclosure
   

Current compliance requires monitoring:

• Prohibited transaction exemptions
   
• Impartial conduct standards
   
• Rollover documentation
   
• Investment advice arrangements
   
• Conflicts of interest
   
• ESG integration documentation
   
• Proxy voting policies
   

DOL fiduciary rulemaking remains active and subject to enforcement priorities.

We assist fiduciaries with:

• Committee charters
   
• Fiduciary manuals
   
• Investment policy statements
   
• Documentation frameworks
   
• Training programs
   

• DOL / IRS audits
   
• Voluntary correction programs
   
• Prohibited transaction corrections
   
• Settlement negotiations
   

• QDIA compliance
   
• CIT structures
   
• Alternative investments
   
• ESG oversight
   
• Securities lending
   
• Derivatives
   

• Fiduciary liability insurance
   
• Bond compliance
   
• Cyber insurance coordination
   

We advise on:

• Advisory and management agreements
   
• Brokerage windows
   
• Revenue sharing
   
• Share class selection
   
• Soft dollar arrangements
   
• Wrap fee programs
   
• QPAM / INHAM compliance
   
• Plan asset determinations
   
• Infrastructure and renewable investments
   
• Collective trusts
   

• 401(k) / Profit Sharing
   
• 403(b)
   
• 457
   
• ESOP / KSOP
   
• Defined Benefit
   
• Cash Balance
   
• Money Purchase
   
• IRAs
   

• Individually designed plans
   
• Pre-approved plans
   
• Restatements and amendments
   
• IRS determination letters
   
• Compliance updates
   

• Nondiscrimination testing
   
• Coverage/top-heavy
   
• Controlled group analysis
   
• Governmental plan compliance
   
• Bankruptcy issues
   
• Minimum funding
   
• Excise tax exposure
   

• QDROs
   
• Loans and distributions
   
• Rollovers
   
• Partial/complete terminations
   
• Vendor contracting
   
• Plan self-audits
   

• M&A due diligence
   
• Spin-offs
   
• Plan carve-outs
   
• Executive compensation coordination
   

• Withdrawal liability
   
• Funding rehabilitation
   
• Collective bargaining coordination
   

✔ Annual fiduciary governance review
✔ Quarterly fee benchmarking
✔ Cybersecurity audit every 2–3 years
✔ Written rollover procedures
✔ Formal vendor oversight program
✔ Annual participant disclosure calendar
✔ Documentation of all major decisions

• **U.S. Department of Labor / Employee Benefits Security Administration – Fiduciary enforcement
   
• Internal Revenue Service – Tax qualification
   
• Pension Benefit Guaranty Corporation – DB plan insurance
   

This material is provided for informational purposes only and does not constitute legal advice. Application of ERISA and related laws depends on specific facts and circumstances.

© 2026 – All Rights Reserved

Bianca Zahrai, Esq. 

The ERISA  Group 

Telephone: +1 (415)  944-9011 

Facsimile: +1 (415) 946-8801