2022 Penalty Amounts for ERISA Health & Welfare and 401K Plans
On January 14, 2022, the U.S. Department of Labor (“DOL”) published its annual announcement of civil monetary penalties for various employee benefits-related violations under ERISA, as in effect for calendar year 2022.
To encourage compliance with the law, ERISA imposes various sanctions, including fines, which are subject to adjustment each year for inflation. Legislation enacted in 2015 requires that the annual inflation-related adjustments be issued by no later than January 15th of each year.
Penalty amount adjustments are effective for penalties assessed after January 15, 2022.
2022 Penalty Amounts for ERISA Health & Welfare Plans:
Compliance Failure |
2022 |
2021 |
Failure to timely file a properly completed ERISA Form 5500 |
$2,400 per day |
$2,259 per day |
Failure to provide Secretary of Labor requested documentation |
$171 per day, not to exceed $1,713 per request |
$161 per day, not to exceed $1,1613 per request |
Failure to timely distribute a Summary of Benefits and Coverage (SBC) |
$1,264per failure |
$1,190 per failure |
Failure to file annual report for Multiple Employer Welfare Arrangements (MEWAs) |
$1,746 per day for each failure |
$1,644 per day for each failure |
Failure to provide notice & information regarding the Children’s’ Health Insurance Program (CHIPRA) |
$127 per participant per day |
$120 per participant per day |
GINA violation |
$127 per participant per day |
$120 per participant per day |
2022 Penalty Amounts for ERISA 401(k) Plans:
Compliance Failure |
2022 |
2021 |
Failure to timely file a properly completed ERISA Form 5500 |
$2,400 per day |
$2,259 per day |
Failure to provide Secretary of Labor requested documentation |
$171 per day, not to exceed $1,713 per request |
$161 per day, not to exceed $1,1613 per request |
Failure to provide Auto-Enrollment Notice |
$1,899 per failure |
$1,788 per failure |
Failure to provide “Blackout” Notice or Right of Diversification Notice |
$152 per failure |
$143 per failure |
Failure to furnish reports (e.g., Benefit Statements) or maintain records |
$33 per employee |
$31 per employee |
The information and content contained in this blog post are for general informational purposes only, and does not, and is not intended to, constitute legal advice.
