Permalink Submitted by Alan - IRA critic on Wed, 2017-03-22 01:03
No.
FSB 2008-04 states that a 401(k) Plan with no employees is exempt from Bonding because the plan is exempt from Title I of ERISA and, thus, since the solo 401(k) Plan is not subject to the ERISA rules a solo 401(k) Plan trustee is not required to have a fidelity bond.
Permalink Submitted by Ben Meyer on Fri, 2017-03-24 14:10
Alan, I tried to lookup the reference “FSB 2008-04”. I found “Field Assistance Bulletin No. 2008-04” on the US Department of Labor website, with the subject “Guidance Regarding ERISA Fidelity Bonding Requirements”, which seems to address this topic. Is this the item to which you referred? If not, what is the difference between “FSB” and “FAB”? Thanks.
Permalink Submitted by Alan - IRA critic on Wed, 2017-03-22 01:03
No.
Permalink Submitted by Ben Meyer on Fri, 2017-03-24 14:10
Alan, I tried to lookup the reference “FSB 2008-04”. I found “Field Assistance Bulletin No. 2008-04” on the US Department of Labor website, with the subject “Guidance Regarding ERISA Fidelity Bonding Requirements”, which seems to address this topic. Is this the item to which you referred? If not, what is the difference between “FSB” and “FAB”? Thanks.
URLs for the above DOL item are:
https://www.dol.gov/agencies/ebsa/employers-and-advisers/guidance/field-assistance-bulletins/2008-04
https://www.dol.gov/sites/default/files/ebsa/employers-and-advisers/guidance/field-assistance-bulletins/fab2008-4.pdf