Reporting and Disclosure

Our firm actively engages with Department of Labor (DOL) policymakers as they develop new regulations governing reporting and disclosure.  Groom has stayed on the forefront of progress, including changes to the Form 5500 Schedule C, new proposed disclosure requirements under regulations for reasonable service arrangements, developing requirements for reporting of meals, gifts and entertainment, and new disclosures required for participant directed plans.  Examples of our relevant experience include:

• Assist financial institution clients as they examine the reporting and disclosure regulations to determine how the regulations affect current disclosure, contract forms and systems for tracking direct and indirect compensation paid and received in providing plan services.
• Actively engaged with DOL officials and staff regarding development of new reporting and disclosure requirements.
• Successfully negotiated numerous changes to LM-10 and LM-30 reporting requirements for unions and Taft-Hartley plans.