DOL fiduciary rule refers to the U.S. Department of LaborTMs evolving regulations that define when financial professionals providing advice on retirement accounts are treated as fiduciaries under ERISA and the Internal Revenue Code. The rule and related prohibited-transaction exemptions impose heightened standards of loyalty, prudence, and conflict management when recommending rollovers, annuities, and other investments to retirement investors. Although portions of earlier versions were vacated, subsequent guidance and exemptions, such as PTE 2020-02, continue to shape how firms structure compensation, disclosures, and supervisory processes around retirement advice.

Advisors encounter the DOL fiduciary rule in firm policies governing IRA rollovers, qualified-plan distributions, and recommendations of commission-based annuities for retirement assets. Compliance departments implement best-interest checklists, documentation templates, and disclosure forms to meet DOL expectations. Advisors must understand when they become fiduciaries, how conflicts are mitigated, and what records are needed to support recommendations. Understanding the DOL fiduciary rule helps advisors navigate complex retirement-advice standards while maintaining compliant business models in the shifting regulatory landscape.