DOL Announces 2025 Adjustments to ERISA Penalties

January 14, 2025

On January 10, 2025, the DOL published a final rule adjusting civil monetary penalties under ERISA. The annual adjustments relate to a wide range of compliance issues and are based on the percentage increase in the Consumer Price Index for All Urban Consumers (CPI-U) from October of the preceding year. The DOL last adjusted certain penalties under ERISA in January of 2024.

Highlights of the new penalties that may be levied against sponsors of ERISA-covered plans include:

• Failure to file Form 5500 maximum: penalty increases from $2,670 to $2,739 per day that the filing is late.
• Failure to furnish information requested by the DOL: penalty increases from $190 per day, not to exceed $1,906 per request, to $195 per day, not to exceed $1,956 per request.
• Penalties for failure to comply with GINA and failure to provide CHIP notices: increase from $141 to $145 per day.
• Failure to furnish Summary of Benefits and Coverage (SBC): penalty increases from $1,406 to $1,443 maximum per failure.
• Failure to file Form M-1 (for MEWAs): penalty increases from $1,942 to $1,992 per day.

These adjusted amounts are effective for penalties assessed after January 15, 2025, for violations that occurred after November 2, 2015. The DOL will continue to adjust penalties no later than January 15 of each year and will post any changes to penalties on its website.

To avoid the imposition of penalties, employers should ensure ERISA compliance for all benefit plans and stay updated on ERISA’s requirements. For more information on the new penalties, including the complete list of changed penalties, please consult the final rule linked below.

GovInfo.gov, Final Rule