EBSA Gives Filing Relief for ERISA-Related Deadlines


The Employee Benefit Security Administration (EBSA) just launched deadline relief and recommendations related to the current impact of the COVID-19 pandemic, including expanding “good faith” application of electronic delivery.

According to the EBSA’s “Disaster Relief Notice 2020-21” the duration for plan administrators to furnish annual funding notices, benefit statements, and other disclosures requested by ERISA are hereby extended, as long as plan officials make a “good faith effort” to furnish required items as soon as possible. Per the novel notice, “good faith” encompasses the utilization of electronic alternative means of communicating with beneficiaries and plan participants, who the plan fiduciary believes have effective access to electronic communication, like text messages, email, and website access.

The notice also discusses compliance help on participant loan payments and contributions, plan loans, Form M-1 and Form 5500 filing relief, blackout notices, and various other universal compliance guidance on ERISA fiduciary duties.

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