Tax Facts

DOL Releases FAQ on New Investment Advice Fiduciary Standards, Apr. 22, 2021

The DOL has confirmed that, as set forth in new PTE 2020-02, FAB 2018-02 will remain effective until December 20, 2021. FAB 2018-02 provided a temporary non-enforcement policy where DOL announced that it would not pursue prohibited transaction claims against investment advice fiduciaries who comply with the impartial conduct standards for transactions under the now-repealed best interest contract exemption or principal transactions exemption. For more information on the PTE, see Q 3978.


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