Providers of 401(k)s and other participant-directed individual retirement account plans will have a two-month grace period to provide annual fee disclosures, the Department of Labor’s Employee Benefits Security Administration announced on Wednesday. The subject of the disclosures, however, is the same.

Under the current definition, plan administrators must provide annual fee and expense disclosures no later than exactly 12 months after a participant received the initial disclosure. EBSA, part of the Department of Labor, changed the rule to require disclosures to participants at least once every 14 months in response to comments from organizations that represent employers, plans, recordkeepers and other service providers.

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