Source: 55 FR 32847, Aug. 10, 1990, unless otherwise noted.
(a)(1) The rules of procedure set forth in this subpart apply to all
applications for exemption which the Department has authority to issue
under:
(i) Section 408(a) of the Employee Retirement Income Security Act of
1974 (ERISA);
(ii) Section 4975(c)(2) of the Internal Revenue Code of 1986 (the
Code) (see Reorganization Plan No. 4 of 1978); or
(iii) The Federal Employees' Retirement System Act of 1986 (FERSA)
(5 U.S.C. 8477(c)(3)).
(b) The Department will generally treat any exemption application
which is filed solely under section 408(a) of ERISA or solely under
section 4975(c)(2) of the Code as an exemption filed under both section
408(a) and section 4975(c)(2) if it relates to a transaction that would
be prohibited both by ERISA and by the corresponding provisions of the
Code.
(c) The procedures set forth in this subpart represent the exclusive
means by which the Department will issue administrative exemptions. The
Department will not issue exemptions upon oral request alone. Likewise,
the Department will not grant exemptions orally. An applicant for an
administrative exemption may request and receive oral advice from
Department employees in preparing an exemption application. However,
such advice does not constitute part of the administrative record and is
not binding on the Department in its processing of an exemption
application or in its examination or audit of a plan.
