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What are the penalties if a bond is not provided?

Any violation may be the subject of a civil action brought by a participant or a beneficiary or the Secretary of Labor to enforce the requirement or to obtain other appropriate relief. And, in the case of any breach of any fiduciary responsibility, the Secretary of Labor may assess a civil penalty in an amount equal to 20% of the amount recovered with respect to the breach or violation of any fiduciary obligation.





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