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CFR  

Code of Federal Regulations Pertaining to U.S. Department of Labor

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 B  

Procedures for Filing and Processing Prohibited Transaction Exemption Applications


29 CFR 2570.45 - Requests for reconsideration.

  • Section Number: 2570.45
  • Section Name: Requests for reconsideration.

    (a) The Department will entertain one request for reconsideration of 
an exemption application that has been finally denied pursuant to 
Sec. 2570.41 (a)(2) or (a)(3) of this part if the applicant presents in 
support of the application significant new facts or arguments, which, 
for good reason, could not have been submitted for the Department's 
consideration during its initial review of the exemption application.
    (b) A request for reconsideration of a previously denied application 
must be made within 180 days after the issuance of the final denial 
letter and must be accompanied by a copy of the Department's final 
letter denying the exemption and a statement setting forth the new 
information and/or arguments that provide the basis for reconsideration.
    (c) A request for reconsideration must also be accompanied by a 
declaration under penalty of perjury attesting to the truth of the new 
information provided, which is signed by a person qualified under 
Sec. 2570.34(b)(5) of these procedures to sign such a declaration.
    (d) If, after reviewing a request for reconsideration, the 
Department decides that the facts and arguments presented do not warrant 
reversal of its original decision to deny the exemption, it will send a 
letter to the applicant reaffirming that decision.
    (e) If, after reviewing a request for reconsideration, the 
Department decides, based on the new facts and arguments submitted, to 
reconsider its denial letter, it will notify the applicant of its intent 
to reconsider the application in light of the new information presented. 
The Department will then take whatever steps remained at the time it 
issued its final denial letter to process the exemption application.
    (f) If, at any point during its subsequent processing of the 
application, the Department decides again that the exemption is 
unwarranted, it will issue a letter affirming its final denial.
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