A Practice Note outlining the requirements under the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code (Code) for loans from qualified retirement plans to participants and beneficiaries. It discusses the prohibited transaction rules under ERISA and the Code, rules under Code Section 72(p), the consequences of failing to comply with these rules, and correction of plan loan failures through the Employee Plans Compliance Resolution System (EPCRS) and the Voluntary Fiduciary Correction Program (VFCP).