DOL ERISA Plan Penalties Increase for 2024

Violation

2023 Penalty Amounts

2024 Penalty Amounts

Applicable to Health & Welfare Plans, 401(k) Plans, Or Both?

Failure or refusal to file an annual report (Form 5500) with the DOL (unless a filing exemption applies)

$2,586 per day

$2,670 per day

Both

Failure of a multiple employer welfare arrangement (MEWA) to file an annual report (Form M-1) with the DOL

$1,881 per day

$1,942 per day

Health & Welfare Plans

Failure to furnish plan-related information requested by the DOL

$184 per day, not to exceed $1,846 per request

$190 per day, not to exceed $1,906 per request

Both

Failure to provide annual notice^[1] to employees and information to a State regarding Children’s Health Insurance Program (CHIP) coverage and coordination

$137 per participant per day

$141 per participant per day

Health & Welfare Plans

Failure to provide Summary of Benefits and Coverage (SBC)

Up to $1,362 per failure

Up to $1,406 per failure

Health & Welfare Plan

Failure to comply with the requirements Genetic Information Nondiscrimination Act (GINA) for health plans

$137 per participant per day

$141 per participant per day

Health & Welfare Plans

De minimis GINA failures not corrected prior to notice from the DOL

$3,439 per participant (minimum)

$3,550 per participant (minimum)

Health & Welfare Plans

GINA failures which are not corrected prior to notice from the DOL and are not de minimis

$20,641 per participant (minimum)

$21,310 per participant (minimum)

Health & Welfare Plans

GINA failure penalty cap on unintentional failures

$688,012 (maximum)

$710,310 (maximum)

Health & Welfare Plans

Failure to provide auto-enrollment notice

$2,046 per day for each failure

$2,112 per day for each failure

401(k) plans

Failure to provide notice of blackout period or notice of diversification rights

$164 per day for each failure

$169 per day for each failure

401(k) plans

Failure to furnish reports (e.g., pension benefit statements) to certain former employees or maintain employee records

$36 per employee

$37 per employee

401(k) plans