Code of Federal Regulations (Last Updated: November 8, 2024) |
Title 29 - Labor |
Subtitle B - Regulations Relating to Labor |
Chapter XXV - Employee Benefits Security Administration, Department of Labor |
SubChapter G - Administration and Enforcement Under the Employee Retirement Income Security Act of 1974 |
Part 2570 - Procedural Regulations Under the Employee Retirement Income Security Act |
Subpart B - Procedures Governing the Filing and Processing of Prohibited Transaction Exemption Applications |
§ 2570.38 - Tentative denial letters.
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§ 2570.38 Tentative denial letters.
(a) If, after reviewing an exemption file, the Department tentatively concludes that it will not propose or grant the exemption, it will notify the applicant in writing. At the same time the Department provides the notification, the Department will also provide a brief statement of the reasons for its tentative denial.
Note 1 to paragraph (a). As referenced in § 2570.33(a)(1), the Department will not hold a conference with, or issue a tentative denial letter to, an applicant who does not submit a complete application, or an applicant who does not provide current information.
(b) An applicant will have 20 days from the date of a tentative denial letter, unless the Department extends the time period at its sole discretion, to request a conference under § 2570.40 of this subpart and/or to notify the Department of its intent to submit additional information under § 2570.39 of this subpart. If the Department does not receive a request for a conference or a notification of intent to submit additional information within that time, it will issue a final denial letter pursuant to § 2570.41.