The fine print

Other elements of the proposed regulations, according to the DOJ statement:

Scope of the exemption.
Disclosures about automatic portability transactions, fees, compensation, and services, including an acknowledgement of the automatic portability provider's fiduciary status, website requirements for the automatic portability provider, and a requirement that disclosures be written in a culturally and linguistically appropriate manner.
Investments permitted in connection with automatic portability transactions.
Restriction on receipt or payment of third-party compensation by an automatic portability provider in connection with an automatic portability transaction.
Prohibition on exculpatory provisions disclaiming or limiting liability if an automatic portability transaction results in an improper transfer.
Required actions to ensure that participant and beneficiary data is current, accurate and secure.
Limitations on the use of data related to automatic portability transactions for any purpose other than to execute such transactions or locate missing participants.
Record retention requirements.
Annual audit and corrections procedures if an auditor determines the automatic portability provider did not comply with the requirements of the statutory exemption and the proposed regulation.

Related: No more 401(k) plan 'leakage': SECURE 2.0 auto-portability now in effect

The DOJ statement also provided a link to the full notice of the rulemaking and the 60-day public comment period, with instructions on how to submit comments.