# 2026-12289: Labor Seeks Comments on Old Investment Exemption Form

2026-12289, Agency Information Collection Activities; Submission for OMB Review; Comment Request; Prohibited Transaction Class Exemption 1985-68 To Permit Employee Benefit Plans To Invest in Customer Notes of Employers, is a Federal Register notice from Labor Department published 2026-06-18, effective The OMB will consider all written comments that the agency receives on or before July 20, 2026.; PRIA reads it as touching household money (as of 2026-06-25).

- Canonical: https://policyrisk.com/federal-register/2026-12289
- As of: 2026-06-25
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Document number: 2026-12289
- Title: Agency Information Collection Activities; Submission for OMB Review; Comment Request; Prohibited Transaction Class Exemption 1985-68 To Permit Employee Benefit Plans To Invest in Customer Notes of Employers
- Type: Notice
- Agencies: Labor Department
- Citation: 91 FR 36881
- Published: 2026-06-18
- Effective: The OMB will consider all written comments that the agency receives on or before July 20, 2026.
- Comments close: 2026-07-20
- Significant: no
- Touches household money: yes
- Regulation identifier numbers: none
- Last updated: 2026-06-25

## In one line

Labor Seeks Comments on Old Investment Exemption Form

## Summary

The Department of Labor is asking for public feedback on a paperwork update that helps employee benefit plans invest in customer notes from their employers. This change affects employers and employee benefit plans by keeping clear records of these investments. Comments are open until July 20, 2026, so don’t miss your chance to weigh in!

## Abstract

The Department of Labor (DOL) is submitting this Employee Benefits Security Administration (EBSA)-sponsored information collection request (ICR) to the Office of Management and Budget (OMB) for review and approval in accordance with the Paperwork Reduction Act of 1995 (PRA). Public comments on the ICR are invited.

## Effects PRIA read

- Plans Allowed To Buy Employer Notes: benefit, low. The rule (Prohibited Transaction Exemption 85-68) says employee benefit plans may acquire, hold, and have employers repurchase customer notes from the employer without triggering certain ERISA prohibited-transaction rules. A "customer note" is a two-party instrument taken in the normal course of se…
- Affiliate Notes Not Covered: cost, low. The exemption explicitly does not apply to notes of an employer's affiliate. Plans cannot rely on this exemption to acquire or hold customer notes issued by an employer affiliate.
- Plans Must Keep And Share Records: cost, low. Plans that invest in customer notes covered by this exemption must keep all records, information, and data related to those investments and make those records unconditionally available to certain persons on request. The Department estimates the affected public is private-sector entities, with 3 res…

## Related documents

- [2026-22903](https://policyrisk.com/federal-register/2026-22903): Unemployment Insurance Program National Minimum Weekly Work Search Requirements, 2026-11-10
- [2026-22680](https://policyrisk.com/federal-register/2026-22680): Prohibiting Illegal Discrimination in Registered Apprenticeship Programs, 2026-11-06
- [2026-22306](https://policyrisk.com/federal-register/2026-22306): Improving Transparency Into Pharmacy Benefit Manager Fee Disclosure, 2026-11-02
- [2026-20447](https://policyrisk.com/federal-register/2026-20447): Transparency in Coverage, 2026-10-06
- [2026-18978](https://policyrisk.com/federal-register/2026-18978): Federal-State Unemployment Compensation (UC) Program; Data Availability, 2026-09-16
- [2026-17622](https://policyrisk.com/federal-register/2026-17622): Federal Independent Dispute Resolution Operations; Correction, 2026-08-28

## Sources
- [2026-12289 on federalregister.gov](https://www.federalregister.gov/documents/2026/06/18/2026-12289/agency-information-collection-activities-submission-for-omb-review-comment-request-prohibited)
- [2026-12289 as published (PDF)](https://www.govinfo.gov/content/pkg/FR-2026-06-18/pdf/2026-12289.pdf)

## Related
- [Previous: 2026-12288, Agency Information Collection Activities; Extension of Collection; Comment Requ…](https://policyrisk.com/federal-register/2026-12288)
- [Next: 2026-12290, Washington, Idaho & Montana Railway LLC-Lease and Operation-BLPIRR LLC](https://policyrisk.com/federal-register/2026-12290)
- [All Federal Register documents](https://policyrisk.com/federal-register)

Source: PRIA, https://policyrisk.com/federal-register/2026-12289 (as of 2026-06-25).