Department of Labor, Internal Revenue Service, Pension Benefit Guaranty Corporation Investigations
概述
Employee benefit plan sponsors and fiduciaries face an increasingly aggressive enforcement environment. Department of Labor (DOL), Internal Revenue Service (IRS), and Pension Benefit Guaranty Corporation (PBGC) investigations are on the rise. Thorough assessment of plan compliance and potential risk, voluntary corrections, and a vigorous audit defense when problems arise are essential.
Sidley’s highly experienced team has developed comprehensive and strategic approaches to performing internal compliance reviews, minimizing our clients’ risk and mustering the legal and factual defenses necessary to achieve successful outcomes in DOL, IRS, and PBGC investigations. Our lawyers provide critical advice at every stage, including by identifying potential issues, preparing amnesty filings, and negotiating with the appropriate government personnel.
"Sidley has a very strong team."
Chambers USA 2022, Nationwide: Employee Benefits & Executive Compensation
National Leader in DOL, IRS, and PBGC Compliance and Investigations
Sidley’s ERISA compliance and investigations team has been consistently recognized by publications, including Chambers USA and Best Lawyers. We work closely with global clients in a wide range of industries and with a variety of legal and regulatory frameworks to develop proactive compliance programs to mitigate DOL, IRS, and PBGC risks and exposure. We have a proven record of assisting clients with investigations conducted in response to DOL, IRS, and PBGC inquiries.
Our lawyers have experience representing clients across the full spectrum of DOL, IRS, and PBGC compliance and enforcement matters, including:
- Investigations by the DOL, the IRS, and the PBGC
- Internal compliance review and compliance counseling
- Voluntary corrective action
“Highly Ranked Nationally & Tier 1 in Employee Benefits (ERISA) Law – Illinois (Chicago),"
U.S. News– Best Lawyers ® "Best Law Firms" 2021
REPRESENTATIVE MATTERS
Department of Labor
- Represented a large employer-sponsored 401(k) plan service provider in a DOL investigation related to a potential breach of fiduciary duty by charging excessive fees to plan sponsors.
- Represented a Fortune 500 company in connection with a DOL audit/investigation focused primarily on procedures for identifying, contacting, and locating missing pension plan participants.
- Represented a Fortune 500 company and sponsor of a large 401(k) plan in connection with a DOL investigation into malfeasance by one of the plan’s investment managers.
- Represented a Fortune 100 company with respect to multiple DOL investigations, with focus on payment of required minimum distributions and efforts to locate and pay missing participants.
- Represented a nonprofit organization with respect to a DOL investigation of health plans, including the negotiation of corrective action.
Internal Revenue Service
- Represented a Fortune 500 company with respect to numerous IRS employee benefit plan investigations.
- Represented a private entity in defending an IRS investigation relating to the termination of its ESOP.
- Assisted a not-for-profit entity with an IRS audit relating to plan operational failures.
Pension Benefit Guaranty Corporation
- Represented a Fortune 500 company with respect to a PBGC investigation triggered under the PBGC Early Warning Program, which included successfully defending a PBGC subpoena attempting to obtain information relating to a potential transaction that had not yet been disclosed to the public.
- Represented a large not-for-profit entity in connection with a PBGC investigation relating to its bankruptcy.
- Represented a Fortune 500 company in connection with a PBGC investigation and negotiation of settlement agreement relating to bankruptcy.
- Assisted a Fortune 500 company with a PBGC audit relating to pension plan termination.
- Assisted a Fortune 500 company in responding to a PBGC inquiry raising questions and requesting information under the PBGC’s Early Warning Program in connection with a corporate transaction.
- Represented a Fortune 500 company in responding to a PBGC inquiry relating to a corporate spinoff under the PBGC’s Early Warning Program.
