14 Mar 2025
💰DOL Seeks Comments on Foreign Currency Transactions Regulation
Agency Information Collection Activities; Submission for OMB Review; Comment Request; Foreign Currency Transactions, Prohibited Transaction Class Exemption 1994-20
Summary
The Department of Labor (DOL) is submitting this Employee Benefits Security Administration (EBSA)-sponsored information collection request (ICR) to the Office of Management and Budget (OMB) for review and approval in accordance with the Paperwork Reduction Act of 1995 (PRA). Public comments on the ICR are invited.
Agencies
- Labor Department
Business Impact
$$ - Med
The regulatory notice discusses the DOL's information collection request regarding foreign currency transactions and the conditions for a Prohibited Transaction Exemption (PTE 94-20). Businesses must comply with these requirements and maintain specific documentation, which directly impacts their operational procedures and regulatory compliance responsibilities.