404c Notice

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About this template
The 404c Notice template under USA law is a legal document that serves as a notice to shareholders or investors, typically in the context of an investment fund or retirement plan. The notice is required by the Securities and Exchange Commission (SEC) under Section 404(c) of the Employee Retirement Income Security Act (ERISA), which provides certain protections to fiduciaries who comply with specific requirements.

This template outlines the information and disclosures that must be provided to individuals who have the ability to direct investment decisions within their retirement accounts or investment funds. Such individuals, referred to as "participants," need to be informed about their rights and responsibilities concerning the investment options available to them within their retirement plan.

The notice typically includes details about the investment options, such as the nature and objectives of each option, associated risks, fees and expenses, historical performance, and the process by which participants can obtain additional information about the available investment options. It may also provide instructions on how participants can make and change investment elections, and the circumstances under which they can be held liable for any investment losses.

The purpose of the 404c Notice is to ensure that participants are properly informed about their investment choices and to enable them to make educated decisions regarding the allocation of their retirement savings. By providing this information, plan sponsors and fiduciaries can fulfill their obligations and mitigate potential liability under ERISA, while empowering participants to exercise control over their investment decisions.
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