§ 1134 TITLE 29—LABOR Page 450

(1) provide adequate notice in writing to any

participant or beneficiary whose claim for

benefits under the plan has been denied, setting forth the specific reasons for such denial,

written in a manner calculated to be understood by the participant, and

(2) afford a reasonable opportunity to any

participant whose claim for benefits has been

denied for a full and fair review by the appropriate named fiduciary of the decision denying

the claim.

(Pub. L. 93–406, title I, §503, Sept. 2, 1974, 88 Stat.

893.)

REGULATIONS

Secretary authorized, effective Sept. 2, 1974, to promulgate regulations wherever provisions of this subchapter call for the promulgation of regulations, see

section 1031 of this title.

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in section 1022 of this title.

§ 1134. Investigative authority

(a) Investigation and submission of reports,

books, etc.

The Secretary shall have the power, in order

to determine whether any person has violated or

is about to violate any provision of this subchapter or any regulation or order thereunder—

(1) to make an investigation, and in connection therewith to require the submission of reports, books, and records, and the filing of

data in support of any information required to

be filed with the Secretary under this subchapter, and

(2) to enter such places, inspect such books

and records and question such persons as he

may deem necessary to enable him to determine the facts relative to such investigation,

if he has reasonable cause to believe there

may exist a violation of this subchapter or any

rule or regulation issued thereunder or if the

entry is pursuant to an agreement with the

plan.

The Secretary may make available to any person actually affected by any matter which is the

subject of an investigation under this section,

and to any department or agency of the United

States, information concerning any matter

which may be the subject of such investigation;

except that any information obtained by the

Secretary pursuant to section 6103(g) of title 26

shall be made available only in accordance with

regulations prescribed by the Secretary of the

Treasury.

(b) Frequency of submission of books and

records

The Secretary may not under the authority of

this section require any plan to submit to the

Secretary any books or records of the plan more

than once in any 12 month period, unless the

Secretary has reasonable cause to believe there

may exist a violation of this subchapter or any

regulation or order thereunder.

(c) Other provisions applicable relating to attendance of witnesses and production of

books, records, etc.

For the purposes of any investigation provided

for in this subchapter, the provisions of sections

49 and 50 of title 15 (relating to the attendance

of witnesses and the production of books,

records, and documents) are hereby made applicable (without regard to any limitation in such

sections respecting persons, partnerships, banks,

or common carriers) to the jurisdiction, powers,

and duties of the Secretary or any officers designated by him. To the extent he considers appropriate, the Secretary may delegate his investigative functions under this section with respect to insured banks acting as fiduciaries of

employee benefit plans to the appropriate Federal banking agency (as defined in section

1813(q) of title 12).

(Pub. L. 93–406, title I, §504, Sept. 2, 1974, 88 Stat.

893; Pub. L. 101–239, title VII, §7891(a)(1), Dec. 19,

1989, 103 Stat. 2445.)

AMENDMENTS

1989—Subsec. (a). Pub. L. 101–239 substituted ‘‘Internal Revenue Code of 1986’’ for ‘‘Internal Revenue Code

of 1954’’, which for purposes of codification was translated as ‘‘title 26’’ thus requiring no change in text.

EFFECTIVE DATE OF 1989 AMENDMENT

Amendment by Pub. L. 101–239 effective, except as

otherwise provided, as if included in the provision of

the Tax Reform Act of 1986, Pub. L. 99–514, to which

such amendment relates, see section 7891(f) of Pub. L.

101–239, set out as a note under section 1002 of this title.

REGULATIONS

Secretary authorized, effective Sept. 2, 1974, to promulgate regulations wherever provisions of this subchapter call for the promulgation of regulations, see

section 1031 of this title.

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in sections 1135, 1136 of this

title; title 5 section 8478a.

§ 1135. Regulations

Subject to subchapter II of this chapter and

section 1029 of this title, the Secretary may prescribe such regulations as he finds necessary or

appropriate to carry out the provisions of this

subchapter. Among other things, such regulations may define accounting, technical and

trade terms used in such provisions; may prescribe forms; and may provide for the keeping of

books and records, and for the inspection of such

books and records (subject to section 1134(a) and

(b) of this title).

(Pub. L. 93–406, title I, §505, Sept. 2, 1974, 88 Stat.

894.)

REGULATIONS

Pub. L. 99–272, title XI, §11018, Apr. 7, 1986, 100 Stat.

277, provided that:

‘‘(a) REGULATORY TREATMENT OF ASSETS OF REAL ESTATE ENTITIES.—

‘‘(1) IN GENERAL.—Except as a defense, no rule or

regulation adopted pursuant to the Secretary’s proposed regulation defining ‘plan assets’ for purposes of

the Employee Retirement Income Security Act of

1974 [29 U.S.C. 1001 et seq.] (50 Fed. Reg. 961, January

8, 1985, as modified by 50 Fed. Reg. 6361, February 15,

1985), or any reproposal thereof prior to the adoption

of the regulations required to be issued in accordance

with subsection (d), shall apply to any asset of a real

estate entity in which a plan, account, or arrangement subject to such Act invests if—

‘‘(A) any interest in the entity is first offered to

a plan, account, or arrangement subject to such Act