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B-335090 Mar 10, 2023 1 (2023-03-10)

handle is hein.gao/gaooit0001 and id is 1 raw text is: U.S. GOVERNMENT ACCOUNTABILITY OFFICE 441 G St. N.W. Washington, DC 20548 B-335090 March 10, 2023 The Honorable Bernard Sanders Chairman The Honorable Bill Cassidy Ranking Member Committee on Health, Education, Labor, and Pensions United States Senate The Honorable Virginia Foxx Chairwoman The Honorable Bobby Scott Ranking Member Committee on Education and the Workforce House of Representatives Subject: Department of Labor, Employee Benefits Security Administration: Annual Reporting and Disclosure Pursuant to section 801(a)(2)(A) of title 5, United States Code, this is our report on a major rule promulgated by the Department of Labor, Employee Benefits Security Administration (DOL), titled, Annual Reporting and Disclosure (RIN: 1210-AB97). We received the rule on February 24, 2023. It was published in the Federal Register as a final rule on February 24, 2023. 88 Fed. Reg. 11793. The stated effective date is April 25, 2023. According to DOL, this document contains amendments to DOL regulations relating to annual reporting requirements under Title I of the Employee Retirement Income Security Act of 1974, as amended (ERISA). ERISA, Pub. L. No. 93-406, 88 Stat. 829 (Sept. 2, 1974). DOL stated that the amendments contained in this document conform the DOL reporting regulations to revisions to Form 5500, Annual Return/Report of Employee Benefit Plan, and Form 5500-SF, Short Form Annual Return/Report of Small Employee Benefit Plan, being published in the Federal Register jointly by DOL, the Internal Revenue Service, and the Pension Benefit Guaranty Corporation as a separate Notice of Final Form Revisions titled, Annual Information Return/Reports (NFFR). 88 Fed. Reg. 11984 (Feb. 24, 2023). DOL also stated that conforming changes are being made to the requirements for the summary annual report. DOL stated further that the regulatory amendments in this final rule and revisions in the NFFR affect employee benefit plans, plan sponsors, administrators, and service providers to plans subject to annual reporting requirements under ERISA and the Internal Revenue Code. The Congressional Review Act (CRA) requires a 60-day delay in the effective date of a major rule from the date of publication in the Federal Register or receipt of the rule by Congress, whichever is later. 5 U.S.C. § 801(a)(3)(A). This final rule was published in the Federal Register on February 24, 2023. 88 Fed. Reg. 11793. The Congressional Record reflects that

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