Content Last Revised: 6/20/90 ---DISCLAIMER---

CFR	Code of Federal Regulations Pertaining to EBSA

Title 29

Labor

Chapter XXV

Pension and Welfare Benefits Administration, Department of Labor

Part 2570

Procedural Regulations Under the Employee Retirement Income Security Act

Subpart D

Procedure for the Assessment of Civil Penalties Under ERISA Section 502(l)

• Section Number: 2570.86
• Section Name: Reduction of penalty by other penalty assessments.

    The penalty assessed on a person pursuant to this section with 
respect to any transaction shall be reduced by the amount of any penalty 
or tax imposed on such person with respect to such transaction under 
ERISA section 502(i) and section 4975 of the Code. Prior to a reduction 
of penalty under this paragraph, the person being assessed must provide 
proof to the Department of the payment of the penalty or tax and the 
amount of that payment. Submissions of proof of other penalty or tax 
assessments will not toll the 60 day payment period, if previously 
initiated.