DOL Disclosure to IRS of VFC Applications (Posted November 15, 2003) Technical Tip 35: The following question and answer are from the DOL Q&A Session at the 2000 ASPPA Annual Conference: Does DOL inform IRS that a VFC application has been made and identify the taxpayer? DOL Response: Yes. Section 3003(c) of Title I of ERISA provides that, whenever the Secretary of Labor obtains information indicating that a party in interest or disqualified person is violating section 406 of ERISA (i.e., the prohibited transaction rules in Title I), she shall transmit such information to the Secretary of the Treasury (i.e., the IRS). See Footnote 3 of the Voluntary Fiduciary Correction Program. Caveat: The answer was drafted by the program moderators, including Fred Reish, based on their understandings of discussions with four senior officials of the Employee Benefits Security Administration (EBSA) of the U.S. Department of Labor. As a result, it does not represent a formal or binding position statement by the EBSA. View all Tips © 2012 Reish Luftman Reicher & Cohen, a Professional Corporation Important notice: Answers are provided as general guidance on the subjects covered in the question and are not provided as legal advice to the questioner's situation. Any legal issues should be reviewed by your legal counsel to apply the law to the particular facts of your situation.