When the DOL Comes Knocking: Best Practices, Pitfalls, and Lessons Learned

Greg discussed how to prepare ESOP fiduciaries and ESOP transaction parties to respond to U.S. Department of Labor (DOL) investigations and audits. He walked through the department's process for conducting investigations, including a demonstration of a mock DOL investigation to illustrate issues that may arise and strategies that may be helpful. His presentation also highlighted allegations or areas that can trigger the government's attention and shared practices to implement at closing and post-transaction that provide a document record and are key to navigating a DOL audit.