Proposal to Amend Retirement Security Rule: Definition of an Investment Advice Fiduciary

Updated 01/10/2024

This tool summarizes the IRS Proposed Rule on amending the Retirement Security Rule Definition of an Investment Advice Fiduciary. The following are the key takeaways of the changes:

  1. Amends the current definition of investment advice fiduciary to include financial services providers upon meeting certain conditions as outlined in the Proposed Rule.
  2. Amends certain class prohibited transaction exemptions (PTEs) available to investment advice fiduciaries to address the proposed change to the definition of investment advice fiduciary.



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