Applicant (Plan Official)\
Address

Dear Applicant (Plan Official):

Re: VFC Program Application No. xx--xxxxxx

The Department of Labor, Employee Benefits Security Administration
(EBSA), has responsibility for administration and enforcement of Title I
of the Employee Retirement Income Security Act of 1974, as amended
(ERISA). EBSA has established a Voluntary Fiduciary Correction (VFC)
Program to encourage the correction of breaches of fiduciary
responsibility and the restoration of losses to the plan participants
and beneficiaries.

In accordance with the requirements of the VFC Program, you have
identified the following transactions as breaches, or potential
breaches, of Part 4 of Title I of ERISA, and you have submitted
documentation to EBSA that demonstrates that you have taken the
corrective action indicated.

\[Briefly recap the violation and correction. *Example:* Failure to
deposit participant contributions to the XYZ Corp. 401(k) plan within
the time frames required by ERISA, from \_\_\_\_\_\_(date) to
\_\_\_\_\_\_(date). All participant contributions were deposited by
\_\_\_\_\_\_(date) and lost earnings on the delinquent contributions
were deposited and allocated to participants' plan accounts on
\_\_\_\_\_\_(date).\]

Because you have taken the above-described corrective action that is
consistent with the requirements of the VFC Program, EBSA will take no
civil enforcement action against you with respect to this breach.
Specifically, EBSA will not recommend that the Solicitor of Labor
initiate legal action against you, and EBSA will not impose the
penalties in section 502(l) or section 502(i) of ERISA on the amount you
have repaid to the plan.

EBSA's decision to take no further action is conditioned on the
completeness and accuracy of the representations made in your
application. You should note that this decision will not preclude EBSA
from conducting an investigation of any potential violations of criminal
law in connection with the transaction identified in the application or
investigating the transaction identified in the application with a view
toward seeking appropriate relief from any other person.

\[If the transaction is a prohibited transaction for which no exemptive
relief is available, add the following language: Please also be advised
that pursuant to section 3003(c) of ERISA, 29 U.S.C. section 1203(c),
the Secretary of Labor is required to transmit to the Secretary of the
Treasury information indicating that a prohibited transaction has
occurred. Accordingly, this matter will be referred to the Internal
Revenue Service.\]

In addition, you are cautioned that EBSA's decision to take no further
action is binding on EBSA only. Any other governmental agency, and
participants and beneficiaries, remain free to take whatever action they
deem necessary.

If you have any questions about this letter, you may contact the
Regional VFC Program Coordinator at *applicable address and telephone
number*.

Sincerely,

Regional Director (or designated person)

Enclosure

**~~[Covered Transactions in the Voluntary Fiduciary Correction
Program]{.underline}~~**

~~Delinquent Participant Contributions and Participant Loan Repayments
to Pension Plans~~

~~Delinquent Participant Contributions to Insured Welfare Plans~~

~~Delinquent Participant Contributions to Welfare Plan Trusts~~

~~Fair Market Interest Rate Loans With Parties in Interest~~

~~Below Market Interest Rate Loans With Parties in Interest~~

~~Below Market Interest Rate Loans With Non-Parties in Interest~~

~~Below Market Interest Rate Loans Due to Delay in Perfecting Security
Interest~~

~~Participant Loans Failing to Comply with Plan Provisions for Amount,
Duration, or Level Amortization~~

~~Defaulted Participant Loans~~

~~Purchase of Assets by Plans from Parties in Interest~~

~~Sale of Assets by Plans to Parties in Interest~~

~~Sale and Leaseback of Property to Sponsoring Employers~~

~~Purchase of Assets from Non-Parties in Interest at More Than Fair
Market Value~~

~~Sale of Assets to Non-Parties in Interest at Less Than Fair Market
Value~~

~~Holding of an Illiquid Asset Previously Purchased by Plan~~

~~Benefit Payments Based on Improper Valuation of Plan Assets~~

~~Payment of Duplicate, Excessive, or Unnecessary Compensation~~

~~Improper Payment of Expenses by Plan~~

~~Payment of Dual Compensation to Plan Fiduciaries~~