{"abstract":"This Notice includes an updated and streamlined version of the Voluntary Fiduciary Correction Program (VFC Program or the Program) under the Employee Retirement Income Security Act. The VFC Program is designed to encourage the voluntary correction of fiduciary violations by permitting persons to avoid potential civil actions and civil penalties if they take steps to correct identified violations in a manner consistent with the Program. The Program included in this Notice reflects changes made in response to public comments received on the VFC Program modifications implemented in April 2005. The final Program includes additional transactions, reduced documentation requirements, a simplified application form, a checklist, and availability of an online calculator for determining the amount to be restored to plans. These changes serve to both encourage and facilitate the use of the Program as a means by which to correct covered fiduciary violations.","action":"Adoption of Updated Voluntary Fiduciary Correction Program.","agencies":[{"raw_name":"DEPARTMENT OF LABOR","name":"Labor Department","id":271,"url":"https://www.federalregister.gov/agencies/labor-department","json_url":"https://www.federalregister.gov/api/v1/agencies/271","parent_id":null,"slug":"labor-department"},{"raw_name":"Employee Benefits Security Administration","name":"Employee Benefits Security Administration","id":131,"url":"https://www.federalregister.gov/agencies/employee-benefits-security-administration","json_url":"https://www.federalregister.gov/api/v1/agencies/131","parent_id":271,"slug":"employee-benefits-security-administration"}],"body_html_url":"https://www.federalregister.gov/documents/full_text/html/2006/04/19/06-3674.html","cfr_references":[],"citation":"71 FR 20262","comment_url":null,"comments_close_on":null,"correction_of":null,"corrections":[],"dates":"The VFC Program contained in this Notice is effective May 19, 2006.","disposition_notes":null,"docket_ids":[],"dockets":[],"document_number":"06-3674","effective_on":"2006-05-19","end_page":20285,"executive_order_notes":null,"executive_order_number":null,"full_text_xml_url":"https://www.federalregister.gov/documents/full_text/xml/2006/04/19/06-3674.xml","html_url":"https://www.federalregister.gov/documents/2006/04/19/06-3674/voluntary-fiduciary-correction-program-under-the-employee-retirement-income-security-act-of-1974","images":{},"images_metadata":{},"json_url":"https://www.federalregister.gov/api/v1/documents/06-3674?publication_date=2006-04-19","mods_url":"https://www.govinfo.gov/metadata/granule/FR-2006-04-19/06-3674/mods.xml","not_received_for_publication":null,"page_length":24,"page_views":{"count":59268,"last_updated":"2026-07-27 04:15:03 -0400"},"pdf_url":"https://www.govinfo.gov/content/pkg/FR-2006-04-19/pdf/06-3674.pdf","presidential_document_number":null,"proclamation_number":null,"public_inspection_pdf_url":null,"publication_date":"2006-04-19","raw_text_url":"https://www.federalregister.gov/documents/full_text/text/2006/04/19/06-3674.txt","regulation_id_number_info":{"1210-AB03":null},"regulation_id_numbers":["1210-AB03"],"regulations_dot_gov_info":{"checked_regulationsdotgov_at":"2011-11-12T19:19:15Z"},"regulations_dot_gov_url":null,"significant":null,"signing_date":null,"start_page":20262,"subtype":null,"title":"Voluntary Fiduciary Correction Program Under the Employee Retirement Income Security Act of 1974","toc_doc":"Voluntary Fiduciary Correction Program","toc_subject":"Employee Retirement Income Security Act:","topics":[],"type":"Notice","volume":71}