401(k) Electronic Records

Geek Out!


In April 2002, the Department of Labor (DOL) issued a final rule that allows records to be maintained electronically, provided the electronic records are as secure, legible and usable as paper records. The original paper records may be destroyed as long as the electronic records comply with the DOL regulations.

The regulation generally requires electronic records to be:

In addition, the electronic recordkeeping system must:

Please note that contracting the electronic recordkeeping to a third party does not reduce or transfer the plan administrator’s obligations under the recordkeeping requirement.