VFCP

AcronymDefinition
VFCPVoluntary Fiduciary Correction Program
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EBSA's other correction program, the VFCP, does not allow self-correction.
In order to help us improve our service, please indicate how you learned about the VFCP:
I have authorized (name of authorized representative) to represent me concerning this VFCP application.
Each plan official applying under the VFCP must also sign and date the statement, which must accompany any subsequent additions to the application.
Under penalties of perjury I certify that I am not under investigation (as defined in VFCP Section 3(b)(3)) and that I have reviewed this application, insulting all supporting documentation, and to the best of my knowledge and belief the contest are true, correct and complete.
On March 15, 2000, the Pension and Welfare Benefits Administration (PWBA) established the VFCP on an interim basis.
Identify any violations and determine whether they are included on the VFCP's list of 15 transactions;
The effect of the VFCP is that the EBSA will generally issue a no-action letter to the applicant for a breach identified in the application.
To participate in the VFCP, neither the plan nor the applicant may be under a DOL investigation.
If the applicant performs a manual calculation in accordance with the VFCP rules specific calculations demonstrating how Principal Amount and Lost Earnings or, if applicable, Restoration of Profits were computed;
The VFCP provides rules for making acceptable corrections involving the transactions listed above.
All documents described in section 7 of the VFCP with respect to the transaction involved; and