§1134 Investigative Authority

Summary

The Secretary can investigate suspected or possible violations of this part. The Secretary may make plans send reports, books, records, and supporting data. The Secretary may enter places, inspect records, and question people when there is reasonable cause to believe a violation exists or when the plan agrees. Investigation information can be shared with people actually affected and with other federal agencies, except information obtained under section 6103(g) of title 26, which is shared only under Treasury rules. The Secretary cannot require a plan to turn over books or records more than once in any 12-month period unless there is reasonable cause. Sections 49 and 50 of title 15 (about witnesses and producing records) apply to these investigations. The Secretary may delegate investigations about insured banks that act as plan fiduciaries to the appropriate Federal banking agency (see section 1813(q) of title 12). The Secretary may create a rule that makes communications confidential and privileged among certain state and federal authorities (state insurance departments, state attorneys general, the National Association of Insurance Commissioners, the Departments of Labor, Treasury, Justice, Health and Human Services, and others the Secretary names). That privilege covers communications tied to investigations, audits, exams, or inquiries and does not waive any other privilege an agency or information provider has.