[Code of Federal Regulations]

[Title 29, Volume 9]

[Revised as of July 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 29CFR2520.103-8]



[Page 434]

 

                             TITLE 29--LABOR

 

 CHAPTER XXV--EMPLOYEE BENEFITS SECURITY ADMINISTRATION, DEPARTMENT OF 

                                  LABOR

 

PART 2520_RULES AND REGULATIONS FOR REPORTING AND DISCLOSURE--Table of 

Contents

 

                  Subpart C_Annual Report Requirements

 

Sec.  2520.103-8  Limitation on scope of accountant's examination.



    (a) General. Under the authority of section 103(a)(3)(C) of the Act, 

the examination and report of an independent qualified public accountant 

need not extend to any statement or information prepared and certified 

by a bank or similar institution or insurance carrier. A plan, trust or 

other entity which meets the requirements of paragraph (b) of this 

section is not required to have covered by the accountant's examination 

or report any of the information described in paragraph (c) of this 

section.

    (b) Application. This section applies to any plan, trust or other 

entity some or all of the assets of which are held by a bank or similar 

institution or insurance carrier which is regulated and supervised and 

subject to periodic examination by a State or Federal agency.

    (c) Excluded information. Any statements or information certified to 

by a bank or similar institution or insurance carrier described in 

paragraph (b) of this section, provided that the statements or 

information regarding assets so held are prepared and certified to by 

the bank or insurance carrier in accordance with Sec.  2520.103-5.