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May 15, 2014


Do You Recommend a Fee Policy Statement?

by The 401k Study Group ®

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  1. Robb Smith
    May 15 2014

    Yes, but I call it a Fee Disclosure Prudent Processes Statement (FDPPS) which covers all three DOL fee disclosure regs: Form 5500 Schedule C, 408(b)2 and 404(a)5. It covers reporting requirements of each reg., the responsible party for ensuring compliance and a calendar of necessary items to be completed to ensure ongoing reporting and compliance. It also includes an annual notification to service providers requiring updated disclosure reporting under 408(b)2 if specific events have changed such as fees and/or assumption of fiduciary status within the last year.


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