COVID-19 NATIONAL EMERGENCY AND SBCs EXTENSION

COVID-19 National Emergency and SBCs Extension

In EBSA Disaster Relief Notice 2020-01, the Department of Labor–with reported consent from the Department of the Treasury, the Internal Revenue Service, and the Department of Health and Human Services–announced an extension of deadlines for furnishing certain required notices or disclosures, including Summaries of Benefits and Coverage (SBCs), to plan participants, beneficiaries, and other persons so that plan fiduciaries and plan sponsors have additional time to meet their obligations under Title of I ERISA during the COVID-19 outbreak.

An employee benefit plan and the responsible plan fiduciary will not be in violation of ERISA for failing to timely furnish a notice, disclosure, or document that must be furnished between March 1, 2020, and 60 days after the announced end of the COVID-19 National Emergency, if the plan and responsible fiduciary act in good faith and furnish the notice, disclosure, or document as soon as administratively practicable under the circumstances.

The end of the National Emergency has not been announced.