Join us for an informative session on the Voluntary Fiduciary Correction Program with guest speaker Audrey Chan from the U.S. Department of Labor.

The Voluntary Fiduciary Correction Program (VFCP) is a self-correction program sponsored by the DOL and administered in each of its regional offices. The Program encourages voluntary compliance by self-correcting violations of the law. The VFCP also helps plan officials understand the law and may provide excise tax relief under the class exemption for eligible applicants. The Program allows plan officials to identify and fully correct certain transactions such as prohibited purchases, sales and exchanges, improper loans, delinquent participant contributions, and improper plan expenses.

Audrey W. Chan, U.S. Department of Labor

Audrey Chan is the Voluntary Fiduciary Correction Program (VFCP) coordinator for the San Francisco Region of the Employee Benefits Security Administration (EBSA). As the Regional coordinator her responsibilities include creating Program awareness, providing Program guidance and reviewing applications for eligibility and completeness. After 6 years in the Human Resources Office, Ms. Chan joined EBSA in 1999 as a Benefits Advisor, providing technical advice to the public and businesses on a variety of pension and health plan issues related to the Employee Retirement Income Security Act (ERISA). Subsequently, Ms. Chan became an investigator and served as the Employee Contributions Project Baseline project coordinator before her current position as the VFCP coordinator.