DOL Makes Inflation Adjustments to Plan Penalty Amounts

Written By Anthony Powers

The Department of Labor (DOL) has issued final regulations adjusting for inflation the agency's 2025 civil money penalties. These penalty amounts, which help ensure that retirement plans meet their disclosure, reporting, and recordkeeping obligations, become effective for any penalties assessed after January 15, 2025. Increased penalties of note follow.

  • Failure to File Form 5500: The penalty increases from $2,670 to $2,739 per day for each day that a required annual report remains unfiled.

  • Failure to Provide DOL-Requested Documents: The penalty rises from $190 to $195 per day (with a maximum of $1,956 per request).

  • Failure to Provide Plan Documents to Participants/Beneficiaries: The penalty remains $110 per day if plan documents are not provided within 30 days of request.

  • Failure to Furnish Required Benefit Statements/Maintain Records for Former Participants:

The penalty increases from $37 to $38 per employee for each instance of noncompliance.

Sources:

https://www.govinfo.gov/content/pkg/FR-2025-01-10/pdf/2024-31602.pdf

Anthony Powers
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