fb-roll-0008
{
"arrangement": "A Financial Institution's annual retrospective review of its PTE 2020-02 compliance covers calendar year 2025 (period ending December 31, 2025).",
"stipulated_facts": [
"The review was conducted, reduced to a written report, provided to a Senior Executive Officer, and certified — all completed on September 15, 2026.",
"Every other condition of the exemption is stipulated satisfied."
]
}Judged only against the PTE 2020-02 conditions quoted in this item's sources, which conclusion follows about this arrangement? Answer with exactly one option id.
satisfies-conditions— The stipulated facts satisfy the quoted conditionsfails-retrospective-review-timing— It fails the retrospective-review timing condition — completion came more than six months after the period ended (Section II(d)(4))fails-rollover-documentation— It fails the rollover-documentation condition (Section II(c)(3))
fails-retrospective-review-timing
Section II(d)(4) requires the review, report, and certification to be completed no later than six months after the end of the covered period. The period ended December 31, 2025; six months after is June 30, 2026. Completion on September 15, 2026 is roughly eight and a half months after the period end, outside the quoted deadline.
Selects fails-retrospective-review-timing; computes the six-month deadline from the period end.
“The review, report and certification are completed no later than six months following the end of the period covered by the review”
Each quoted passage is exact-matched, after typographic normalization, against the corpus text fetched from the issuing authority (hashes in the corpus manifest). An item whose quote stops matching fails the build.
“The review, report and certification are completed no later than six months following the end of the period covered by the review.” — dol-pte-2020-02
The key correctly applies Section II(d)(4) of PTE 2020-02. The period covered by the review ended on December 31, 2025. Six months following this date is June 30, 2026. Since the review, report, and certification were completed on September 15, 2026, they were completed more than six months after the end of the period, failing the timing condition.
“The review, report and certification are completed no later than six months following the end of the period covered by the review” — dol-pte-2020-02
Section II(d)(4) requires completion no later than six months after the end of the covered period. The covered period ended December 31, 2025, so the deadline was June 30, 2026. The stipulated completion date of September 15, 2026 is after that deadline, so the arrangement fails the retrospective-review timing condition. The key's value and derivation are correct.
v1; no errata. Demonstrate a key error and the correction is published here, credited — challenge policy.