Regulatory Updates

DOL Final Regulations on Independent Contractor Status

Final regulations entitled Independent Contractor Status Under the Fair Labor Standards Act, issued by the Department of Labor’s Wage and Hour Division, have been received by the federal Office of Management and Budget (OMB). The OMB provides final review of regulatory guidance before its official release. Generally, only if found to be in need of revision, is such guidance returned to the originating agency for changes. Unless this proves to be the case, official release of these final regulations could be imminent.    

These regulations, intended to clarify distinctions between employee and independent contractor status, were issued in proposed form in September 2020. Our ERISA team will  review the final regulations when they are officially released. Visit futureplan.com for new developments.