cfr_sections
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35 rows where agency = "PBGC" and part_number = 4043 sorted by section_id
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| section_id ▼ | title_number | title_name | chapter | subchapter | part_number | part_name | subpart | subpart_name | section_number | section_heading | agency | authority | source_citation | amendment_citations | full_text |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 29:29:9.1.4.17.13.1.11.1 | 29 | Labor | XL | E | 4043 | A | Subpart A—General Provisions | § 4043.1 Purpose and scope. | PBGC | This part prescribes the requirements for notifying PBGC of a reportable event under section 4043 of ERISA or of a failure to make certain required contributions under section 303(k)(4) of ERISA or section 430(k)(4) of the Code. Subpart A contains definitions and general rules. Subpart B contains rules for post-event notice of a reportable event. Subpart C contains rules for advance notice of a reportable event. Subpart D contains rules for notifying PBGC of a failure to make certain required contributions. | |||||
| 29:29:9.1.4.17.13.1.11.10 | 29 | Labor | XL | E | 4043 | A | Subpart A—General Provisions | § 4043.10 Well-funded plan safe harbor. | PBGC | For purposes of this part, a plan is in the well-funded plan safe harbor for an event year if no variable-rate premium was required to be paid for the plan under parts 4006 and 4007 of this chapter for the plan year preceding the event year. | |||||
| 29:29:9.1.4.17.13.1.11.2 | 29 | Labor | XL | E | 4043 | A | Subpart A—General Provisions | § 4043.2 Definitions. | PBGC | [80 FR 55002, Sept. 11, 2015, as amended at 83 FR 49806, Oct. 3, 2018; 85 FR 6061, Feb. 4, 2020] | The following terms are defined in § 4001.2 of this chapter: benefit liabilities, Code, contributing sponsor, controlled group, ERISA, fair market value, irrevocable commitment, multiemployer plan, PBGC, person, plan, plan administrator, plan year, single-employer plan, ultimate parent, and U.S. entity. In addition, for purposes of this part: De minimis 10-percent segment means, in connection with a plan's controlled group, one or more entities that in the aggregate have for a fiscal year— (1) Revenue not exceeding 10 percent of the controlled group's revenue; (2) Annual operating income not exceeding the greater of— (i) 10 percent of the controlled group's annual operating income; or (ii) $5 million; and (3) Net tangible assets at the end of the fiscal year(s) not exceeding the greater of— (i) 10 percent of the controlled group's net tangible assets at the end of the fiscal year(s); or (ii) $5 million. De minimis 5-percent segment has the same meaning as de minimis 10-percent segment, except that “5 percent” is substituted for “10 percent” each time it appears. Event year means the plan year in which a reportable event occurs. Foreign entity means a member of a controlled group that— (1) Is not a contributing sponsor of a plan; (2) Is not organized under the laws of (or, if an individual, is not a domiciliary of) any state (as defined in section 3(10) of ERISA); and (3) For the fiscal year that includes the date the reportable event occurs, meets one of the following tests— (i) Is not required to file any United States federal income tax form; (ii) Has no income reportable on any United States federal income tax form other than passive income not exceeding $1,000; or (iii) Does not own substantial assets in the United States (disregarding stock of a member of the plan's controlled group) and is not required to file any quarterly United States tax returns for employee withholding. Foreign parent means a foreign entity that is a direct or indirect parent of a person that is a contributing… | ||||
| 29:29:9.1.4.17.13.1.11.3 | 29 | Labor | XL | E | 4043 | A | Subpart A—General Provisions | § 4043.3 Requirement of notice. | PBGC | [80 FR 55002, Sept. 11, 2015, as amended at 85 FR 6061, Feb. 4, 2020; 90 FR 39328, Aug. 15, 2025] | (a) Obligation to file —(1) In general. Each person that is required to file a notice under this part, or a duly authorized representative, must submit the information required under this part by the time specified in § 4043.20 (for post-event notices), § 4043.61 (for advance notices), or § 4043.81 (for Form 200 filings). Any information filed with PBGC in connection with another matter may be incorporated by reference. If an event is subject to both post-event and advance notice requirements, the notice filed first satisfies both filing requirements. (2) Multiple plans. If a reportable event occurs for more than one plan, the filing obligation with respect to each plan is independent of the filing obligation with respect to any other plan. (3) Optional consolidated filing. A filing of a notice with respect to a reportable event by any person required to file will be deemed to be a filing by all persons required to give PBGC notice of the event under this part. (b) Contents of reportable event notice. A person required to file a reportable event notice under subpart B or C of this part must file, by the notice date, the form specified by PBGC for that purpose, with the information specified in PBGC's reportable events instructions. (c) Reportable event forms and instructions. PBGC will issue reportable events forms and instructions and make them available on its website ( http://www.pbgc.gov ). (d) Requests for additional information. PBGC may, in any case, require the submission of additional relevant information not specified in its forms and instructions. Any such information must be submitted for subpart B of this part within 30 days, and for subpart C or D of this part within 7 days, after the date of a written request by PBGC, or within a different time period specified therein. PBGC may in its discretion shorten the time period where it determines that the interests of PBGC or participants may be prejudiced by a delay in receipt of the information. (e) Effect of failure to file. If a n… | ||||
| 29:29:9.1.4.17.13.1.11.4 | 29 | Labor | XL | E | 4043 | A | Subpart A—General Provisions | § 4043.4 Waivers and extensions. | PBGC | (a) Waivers and extensions—in general. PBGC may extend any deadline or waive any other requirement under this part where it finds convincing evidence that the waiver or extension is appropriate under the circumstances. Any waiver or extension may be subject to conditions. A request for a waiver or extension must be filed with PBGC in writing (which may be in electronic form) and must state the facts and circumstances on which the request is based. (b) Waivers and extensions—specific events. For some reportable events, automatic waivers from reporting and extensions of time are provided in subparts B and C of this part. If an occurrence constitutes two or more reportable events, reporting requirements for each event are determined independently. For example, reporting is automatically waived for an occurrence that constitutes a reportable event under more than one section only if the requirements for an automatic waiver under each section are satisfied. (c) Multiemployer plans. The requirements of section 4043 of ERISA are waived with respect to multiemployer plans. (d) Terminating plans. No notice is required from the plan administrator or contributing sponsor of a plan if the notice date is on or after the date on which— (1) All of the plan's assets (other than any excess assets) are distributed pursuant to a termination under part 4041 of this chapter; or (2) A trustee is appointed for the plan under section 4042 of ERISA. (e) Events not described in this part. Notice of a reportable event described in section 4043(c) of ERISA is waived except to the extent that reporting is required under this part. | |||||
| 29:29:9.1.4.17.13.1.11.5 | 29 | Labor | XL | E | 4043 | A | Subpart A—General Provisions | § 4043.5 How and where to file. | PBGC | Reportable event notices required under this part must be filed electronically in accordance with the instructions posted on PBGC's Web site, http://www.pbgc.gov . Filing guidance is provided by the instructions and by subpart A of part 4000 of this chapter. | |||||
| 29:29:9.1.4.17.13.1.11.6 | 29 | Labor | XL | E | 4043 | A | Subpart A—General Provisions | § 4043.6 Date of filing. | PBGC | (a) Post-event notice filings. PBGC applies the rules in subpart C of part 4000 of this chapter to determine the date that a submission under subpart B of this part was filed with PBGC. (b) Advance notice and Form 200 filings. Information filed under subpart C or D of this part is treated as filed on the date it is received by PBGC. Subpart C of part 4000 of this chapter provides rules for determining when PBGC receives a submission. | |||||
| 29:29:9.1.4.17.13.1.11.7 | 29 | Labor | XL | E | 4043 | A | Subpart A—General Provisions | § 4043.7 Computation of time. | PBGC | PBGC applies the rules in subpart D of part 4000 of this chapter to compute any time period under this part. | |||||
| 29:29:9.1.4.17.13.1.11.8 | 29 | Labor | XL | E | 4043 | A | Subpart A—General Provisions | § 4043.8 Confidentiality. | PBGC | [80 FR 55002, Sept. 11, 2015, as amended at 88 FR 76664, Nov. 7, 2023] | In accordance with section 4043(f) of ERISA and § 4901.21(a) of this chapter, any information or documentary material that is not publicly available and is submitted to PBGC pursuant to subpart B or C of this part will not be made public, except as may be relevant to any administrative or judicial action or proceeding or for disclosures to either body of Congress or to any duly authorized committee or subcommittee of the Congress. This provision does not apply to information or material submitted to PBGC pursuant to subpart D of this part, even where the submission serves as an alternative method of compliance with § 4043.25. | ||||
| 29:29:9.1.4.17.13.1.11.9 | 29 | Labor | XL | E | 4043 | A | Subpart A—General Provisions | § 4043.9 Company low-default-risk safe harbor. | PBGC | [80 FR 55002, Sept. 11, 2015, as amended at 85 FR 6061, Feb. 4, 2020] | (a) Low-default-risk. An entity (a “company”) that is a contributing sponsor of a plan or the highest level U.S. parent of a contributing sponsor is “low-default-risk” on the date of an event if that date falls within a safe harbor period of the company as described in paragraph (b) of this section. (b) Safe harbor period. A safe harbor period for a company means a period that— (1) Begins on a financial information date (as described in paragraph (c) of this section) on which the company satisfies the low-default-risk standard in paragraph (e) of this section, and (2) Ends 13 months later or (if earlier) on the company's next financial information date. (c) Financial information date. A financial information date for a company means— (1) A date on which the company files on Form 10-K with the Securities and Exchange Commission (“SEC”) audited annual financial statements (including balance sheets, income statements, cash flow statements, and notes to the financial statements) for the company's most recent completed fiscal year preceding the date of such filing; (2) The date (the “closing date”) on which the company closes the annual accounting period that results in the production of audited or unaudited annual financial statements for the company's most recent completed fiscal year preceding the closing date, if audited annual financial statements are not required to be filed with the SEC; or (3) A date on which the company files with IRS an annual federal income tax return or IRS Form 990 (in either case, a “return”) for the company's most recent completed fiscal year preceding the date of such filing, if at the time the return is filed there are no annual financial statements for the year of the return. (d) Supporting financial information. For purposes of this section, the “supporting financial information” is the annual financial statements or return associated with the establishment of the financial information date. (e) Low-default-risk standard —(1) Adequate capacity. For purposes of th… | ||||
| 29:29:9.1.4.17.13.2.11.1 | 29 | Labor | XL | E | 4043 | B | Subpart B—Post-Event Notice of Reportable Events | § 4043.20 Post-event filing obligation. | PBGC | The plan administrator and each contributing sponsor of a plan for which a reportable event under this subpart has occurred are required to notify PBGC within 30 days after that person knows or has reason to know that the reportable event has occurred, unless a waiver or extension applies. If there is a change in plan administrator or contributing sponsor, the responsibility for any failure to file or defective filing lies with the person who is the plan administrator or contributing sponsor of the plan on the 30th day after the reportable event occurs. | |||||
| 29:29:9.1.4.17.13.2.11.10 | 29 | Labor | XL | E | 4043 | B | Subpart B—Post-Event Notice of Reportable Events | § 4043.29 Change in controlled group. | PBGC | [80 FR 55002, Sept. 11, 2015, as amended at 85 FR 6062, Feb. 4, 2020] | (a) Reportable event. (1) A reportable event occurs for a plan when there is a transaction that results, or will result, in one or more persons' (including any person who is or was a contributing sponsor) ceasing to be a member of the plan's controlled group (other than by merger involving members of the same controlled group). (2) For purposes of this section, the term “transaction” includes, but is not limited to, a legally binding agreement, whether or not written, to transfer ownership, an actual transfer of ownership, and an actual change in ownership that occurs as a matter of law or through the exercise or lapse of pre-existing rights. Whether an agreement is legally binding is to be determined without regard to any conditions in the agreement. A transaction is not reportable if it will result solely in a reorganization involving a mere change in identity, form, or place of organization, however effected. (b) Waivers. (1) De minimis 10-percent segment. Notice under this section is waived if the person or persons that will cease to be members of the plan's controlled group represent a de minimis 10-percent segment of the plan's old controlled group for the most recent fiscal year(s) ending on or before the date the reportable event occurs. (2) Foreign entity. Notice under this section is waived if each person that will cease to be a member of the plan's controlled group is a foreign entity other than a foreign parent. (3) Small plan. Notice under this section is waived if the plan had 100 or fewer participants for whom flat-rate premiums were payable for the plan year preceding the event year. (4) Low-default-risk. Notice under this section is waived if each post-event contributing sponsor of the plan and the highest level U.S. parent of each post-event contributing sponsor are low-default-risk on the date of the event. (5) Well-funded plan. Notice under this section is waived if the plan is in the well-funded plan safe harbor for the event year. (6) Public company. Notice under thi… | ||||
| 29:29:9.1.4.17.13.2.11.11 | 29 | Labor | XL | E | 4043 | B | Subpart B—Post-Event Notice of Reportable Events | § 4043.30 Liquidation. | PBGC | [85 FR 6063, Feb. 4, 2020] | (a) Reportable event. A reportable event occurs for a plan when a member of the plan's controlled group— (1) Resolves to cease all revenue-generating business operations, sell substantially all its assets, or otherwise effect or implement its complete liquidation (including liquidation into another controlled group member) by decision of the member's board of directors (or equivalent body such as the managing partners or owners) or other actor with the power to authorize such cessation of operations, sale, or a liquidation, unless the event would be reported under paragraph (a)(2) or (3) of this section; (2) Institutes or has instituted against it a proceeding to be dissolved or is dissolved, whichever occurs first; or (3) Liquidates in a case under the Bankruptcy Code, or under any similar law. (b) Waivers —(1) De minimis 10-percent segment. Notice under this section is waived if the person or persons that liquidate under paragraph (a) of this section do not include any contributing sponsor of the plan and represent a de minimis 10-percent segment of the plan's controlled group for the most recent fiscal year(s) ending on or before the date the reportable event occurs. (2) Foreign entity. Notice under this section is waived if each person that liquidates under paragraph (a) of this section is a foreign entity other than a foreign parent. (3) Reporting under insolvency event. Notice under this section is waived if reporting is also required under § 4043.35(a)(3) or (4) and notice has been provided timely to PBGC for the same event under that section. (c) Public company extension. If any contributing sponsor of the plan, or the parent company within a parent-subsidiary controlled group of such contributing sponsor, is a public company, the due date for notice under this section is extended until the earlier of— (1) The date the contributing sponsor or parent company timely files a SEC Form 8-K disclosing the event under an item of the Form 8-K other than under Item 2.02 (Results of Operations an… | ||||
| 29:29:9.1.4.17.13.2.11.12 | 29 | Labor | XL | E | 4043 | B | Subpart B—Post-Event Notice of Reportable Events | § 4043.31 Extraordinary dividend or stock redemption. | PBGC | [80 FR 55002, Sept. 11, 2015, as amended at 85 FR 6064, Feb. 4, 2020] | (a) Reportable event. A reportable event occurs for a plan when any member of the plan's controlled group declares a dividend or redeems its own stock and the amount or net value of the distribution, when combined with other such distributions during the same fiscal year of the person, exceeds the person's net income before after-tax gain or loss on any sale of assets, as determined in accordance with generally accepted accounting principles, for the prior fiscal year. A distribution by a person to a member of its controlled group is disregarded. (b) Determination rules. For purposes of paragraph (a) of this section, the net value of a non-cash distribution is the fair market value of assets transferred by the person making the distribution, reduced by the fair market value of any liabilities assumed or consideration given by the recipient in connection with the distribution. Net value determinations should be based on readily available fair market value(s) or independent appraisal(s) performed within one year before the distribution is made. To the extent that fair market values are not readily available and no such appraisals exist, the fair market value of an asset transferred in connection with a distribution or a liability assumed by a recipient of a distribution is deemed to be equal to 200 percent of the book value of the asset or liability on the books of the person making the distribution. Stock redeemed is deemed to have no value. (c) Waivers —(1) De minimis 10-percent segment. Notice under this section is waived if the person making the distribution is a de minimis 10-percent segment of the plan's controlled group for the most recent fiscal year(s) ending on or before the date the reportable event occurs. (2) Foreign entity. Notice under this section is waived if the person making the distribution is a foreign entity other than a foreign parent. (3) Small plan. Notice under this section is waived if the plan had 100 or fewer participants for whom flat-rate premiums were payable for the… | ||||
| 29:29:9.1.4.17.13.2.11.13 | 29 | Labor | XL | E | 4043 | B | Subpart B—Post-Event Notice of Reportable Events | § 4043.32 Transfer of benefit liabilities. | PBGC | [80 FR 55002, Sept. 11, 2015, as amended at 85 FR 6064, Feb. 4, 2020] | (a) Reportable event. A reportable event occurs for a plan when— (1) The plan makes a transfer of benefit liabilities to a person, or to a plan or plans maintained by a person or persons, that are not members of the transferor plan's controlled group; and (2) The amount of benefit liabilities transferred, in conjunction with other benefit liabilities transferred during the 12-month period ending on the date of the transfer, is 3 percent or more of the plan's total benefit liabilities. Both the benefit liabilities transferred and the plan's total benefit liabilities are to be valued as of any one date in the plan year in which the transfer occurs, using actuarial assumptions that comply with section 414( l ) of the Code. (b) Determination rules —(1) Date of transfer. The date of transfer is to be determined on the basis of the facts and circumstances of the particular situation. For transfers subject to the requirements of section 414( l ) of the Code, the date determined in accordance with 26 CFR 1.414( l )-1(b)(11) will be considered the date of transfer. (2) Distributions of lump sums and annuities. For purposes of paragraph (a) of this section, the payment of a lump sum, or purchase of an irrevocable commitment to provide an annuity, in satisfaction of benefit liabilities is not a transfer of benefit liabilities. (c) Waivers —(1) Small plan. Notice under this section is waived if the plan had 100 or fewer participants for whom flat-rate premiums were payable for the plan year preceding the event year. (2) Low-default-risk. Notice under this section is waived if each contributing sponsor of the plan and the highest level U.S. parent of each contributing sponsor are low-default-risk on the date of the event. (3) Well-funded plan. Notice under this section is waived if the plan is in the well-funded plan safe harbor for the event year. (4) Public company. Notice under this section is waived if any contributing sponsor of the plan before the transaction, or the parent company within a paren… | ||||
| 29:29:9.1.4.17.13.2.11.14 | 29 | Labor | XL | E | 4043 | B | Subpart B—Post-Event Notice of Reportable Events | § 4043.33 Application for minimum funding waiver. | PBGC | A reportable event for a plan occurs when an application for a minimum funding waiver for the plan is submitted under section 302(c) of ERISA or section 412(c) of the Code. | |||||
| 29:29:9.1.4.17.13.2.11.15 | 29 | Labor | XL | E | 4043 | B | Subpart B—Post-Event Notice of Reportable Events | § 4043.34 Loan default. | PBGC | (a) Reportable event. A reportable event occurs for a plan when, with respect to a loan with an outstanding balance of $10 million or more to a member of the plan's controlled group— (1) There is an acceleration of payment or a default under the loan agreement, or (2) The lender waives or agrees to an amendment of any covenant in the loan agreement the effect of which is to cure or avoid a breach that would trigger a default. (b) Waivers —(1) De minimis 10-percent segment. Notice under this section is waived if the debtor is not a contributing sponsor of the plan and represents a de minimis 10-percent segment of the plan's controlled group for the most recent fiscal year(s) ending on or before the date the reportable event occurs. (2) Foreign entity. Notice under this section is waived if the debtor is a foreign entity other than a foreign parent. | |||||
| 29:29:9.1.4.17.13.2.11.16 | 29 | Labor | XL | E | 4043 | B | Subpart B—Post-Event Notice of Reportable Events | § 4043.35 Insolvency or similar settlement. | PBGC | [80 FR 55002, Sept. 11, 2015, as amended at 85 FR 6064, Feb. 4, 2020] | (a) Reportable event. A reportable event occurs for a plan when any member of the plan's controlled group— (1) Commences or has commenced against it any insolvency proceeding (including, but not limited to, the appointment of a receiver) other than a bankruptcy case under the Bankruptcy Code; (2) Commences, or has commenced against it, a proceeding to effect a composition, extension, or settlement with creditors; (3) Executes a general assignment for the benefit of creditors; or (4) Undertakes to effect any other nonjudicial composition, extension, or settlement with substantially all its creditors. (b) Waivers —(1) De minimis 10-percent segment. Notice under this section is waived if the person described in paragraph (a) of this section is not a contributing sponsor of the plan and represents a de minimis 10-percent segment of the plan's controlled group for the most recent fiscal year(s) ending on or before the date the reportable event occurs. (2) Foreign entity. Notice under this section is waived if the person described in paragraph (a) of this section is a foreign entity other than a foreign parent. (3) Liquidation event. Notice under paragraph (a)(3) or (4) of this section is waived if reporting is also required under § 4043.30 and notice has been provided timely to PBGC for the same event under that section. | ||||
| 29:29:9.1.4.17.13.2.11.2 | 29 | Labor | XL | E | 4043 | B | Subpart B—Post-Event Notice of Reportable Events | § 4043.21 Tax disqualification and Title I noncompliance. | PBGC | (a) Reportable event. A reportable event occurs when the Secretary of the Treasury issues notice that a plan has ceased to be a plan described in section 4021(a)(2) of ERISA, or when the Secretary of Labor determines that a plan is not in compliance with title I of ERISA. (b) Waiver. Notice is waived for this event. | |||||
| 29:29:9.1.4.17.13.2.11.3 | 29 | Labor | XL | E | 4043 | B | Subpart B—Post-Event Notice of Reportable Events | § 4043.22 Amendment decreasing benefits payable. | PBGC | (a) Reportable event. A reportable event occurs when an amendment to a plan is adopted under which the retirement benefit payable from employer contributions with respect to any participant may be decreased. (b) Waiver. Notice is waived for this event. | |||||
| 29:29:9.1.4.17.13.2.11.4 | 29 | Labor | XL | E | 4043 | B | Subpart B—Post-Event Notice of Reportable Events | § 4043.23 Active participant reduction. | PBGC | [85 FR 6061, Feb. 4, 2020] | (a) Reportable event. A reportable event occurs for a plan: (1) Single-cause event. (i) On each date in a plan year when, as a result of a new single cause, the ratio of the aggregate number of individuals who ceased to be active participants because of that single-cause, to the number of active participants at the beginning of such plan year, exceeds 20 percent. (ii) Examples of single-cause events include a reorganization or restructuring, the discontinuance of an operation or business, a natural disaster, a mass layoff, or an early retirement incentive program. (2) Attrition event. At the end of a plan year if the sum of the number of active participants covered by the plan at the end of such plan year, plus the number of individuals who ceased to be active participants during the same plan year that are reported to PBGC under paragraph (a)(1) of this section, is less than 80 percent of the number of active participants at the beginning of such plan year. (b) Determination rules —(1) Determination dates. The number of active participants at the beginning of a plan year may be determined by using the number of active participants at the end of the previous plan year, and the number of active participants at the end of a plan year may be determined by using the number of active participants at the beginning of the next plan year. (2) Active participant. “Active participant” for purposes of this section means a participant who— (i) Is receiving compensation from any member of the plan's controlled group for work performed for any member of the plan's controlled group; (ii) Is on paid or unpaid leave granted for a reason other than a layoff; (iii) Is laid off from work for a period of time that has lasted less than 30 days; or (iv) Is absent from work due to a recurring reduction in employment that occurs at least annually. (3) Employment relationship. For purposes of determining whether a participant is an active participant, a participant does not cease to be active if the participant leav… | ||||
| 29:29:9.1.4.17.13.2.11.5 | 29 | Labor | XL | E | 4043 | B | Subpart B—Post-Event Notice of Reportable Events | § 4043.24 Termination or partial termination. | PBGC | (a) Reportable event. A reportable event occurs when the Secretary of the Treasury determines that there has been a termination or partial termination of a plan within the meaning of section 411(d)(3) of the Code. (b) Waiver. Notice is waived for this event. | |||||
| 29:29:9.1.4.17.13.2.11.6 | 29 | Labor | XL | E | 4043 | B | Subpart B—Post-Event Notice of Reportable Events | § 4043.25 Failure to make required minimum funding payment. | PBGC | (a) Reportable event. A reportable event occurs when— (1) A contribution required under sections 302 and 303 of ERISA or sections 412 and 430 of the Code is not made by the due date for the payment under ERISA section 303(j) or Code section 430(j), or (2) Any other contribution required as a condition of a funding waiver is not made when due. (b) Alternative method of compliance—Form 200 filed. If, with respect to the same failure, a filing is made in accordance with § 4043.81, that filing (while not considered to be submitted to PBGC pursuant to section 4043 of ERISA for purposes of section 4043(f) of ERISA) satisfies the requirements of this section. (c) Waivers —(1) Small plan. Notice under this section is waived with respect to a failure to make a required quarterly contribution under section 303(j)(3) of ERISA or section 430(j)(3) of the Code if the plan had 100 or fewer participants for whom flat-rate premiums were payable for the plan year preceding the event year. (2) 30-day grace period. Notice under this section is waived if the missed contribution is made by the 30th day after its due date. (3) Late funding balance election. Notice under this section is waived if the failure to make a timely required contribution is solely because of the plan sponsor's failure to timely make a funding balance election. | |||||
| 29:29:9.1.4.17.13.2.11.7 | 29 | Labor | XL | E | 4043 | B | Subpart B—Post-Event Notice of Reportable Events | § 4043.26 Inability to pay benefits when due. | PBGC | [80 FR 55002, Sept. 11, 2015, as amended at 85 FR 6062, Feb. 4, 2020] | (a) Reportable event. A reportable event occurs when a plan is currently unable or projected to be unable to pay benefits. (1) Current inability. A plan is currently unable to pay benefits if it fails to provide any participant or beneficiary the full benefits to which the person is entitled under the terms of the plan, at the time the benefit is due and in the form in which it is due. A plan is not treated as being currently unable to pay benefits if its failure to pay is caused solely by— (i) A limitation under section 436 of the Code and section 206(g) of ERISA (dealing with funding-based limits on benefits and benefit accruals under single-employer plans), (ii) The need to verify a person's eligibility for benefits, (iii) The inability to locate a person, or (iv) Any other administrative delay, to the extent that the delay is for less than the shorter of two months or two full benefit payment periods. (2) Projected inability. A plan is projected to be unable to pay benefits when, as of the last day of any quarter of a plan year, the plan's “liquid assets” are less than two times the amount of the “disbursements from the plan” for such quarter. “Liquid assets” and “disbursements from the plan” have the same meaning as under section 303(j)(4)(E) of ERISA and section 430(j)(4)(E) of the Code. (b) Waiver—plans subject to liquidity shortfall rules. Notice under this section is waived unless the reportable event occurs during a plan year for which the plan is exempt from the liquidity shortfall rules in section 303(j)(4) of ERISA and section 430(j)(4) of the Code because it is described in section 303(g)(2)(B) of ERISA and section 430(g)(2)(B) of the Code. | ||||
| 29:29:9.1.4.17.13.2.11.8 | 29 | Labor | XL | E | 4043 | B | Subpart B—Post-Event Notice of Reportable Events | § 4043.27 Distribution to a substantial owner. | PBGC | [80 FR 55002, Sept. 11, 2015, as amended at 85 FR 6062, Feb. 4, 2020] | (a) Reportable event. A reportable event occurs for a plan when— (1) There is a distribution to a substantial owner of a contributing sponsor of the plan; (2) The total of all distributions made to the substantial owner within the one-year period ending with the date of such distribution exceeds $10,000; (3) The distribution is not made by reason of the substantial owner's death; (4) Immediately after the distribution, the plan has nonforfeitable benefits (as provided in § 4022.5 of this chapter) that are not funded; and (5) Either— (i) The sum of the values of all distributions to any one substantial owner within the one-year period ending with the date of the distribution is more than one percent of the end-of-year total amount of the plan's assets (as required to be reported on Schedule H or Schedule I to Form 5500) for each of the two plan years immediately preceding the event year, or (ii) The sum of the values of all distributions to all substantial owners within the one-year period ending with the date of the distribution is more than five percent of the end-of-year total amount of the plan's assets (as required to be reported on Schedule H or Schedule I to Form 5500) for each of the two plan years immediately preceding the event year. (b) Determination rules —(1) Valuation of distribution. The value of a distribution under this section is the sum of— (i) The cash amounts actually received by the substantial owner; (ii) The purchase price of any irrevocable commitment; and (iii) The fair market value of any other assets distributed, determined as of the date of distribution to the substantial owner. (2) Date of substantial owner distribution. The date of distribution to a substantial owner of a cash distribution is the date it is received by the substantial owner. The date of distribution to a substantial owner of an irrevocable commitment is the date on which the obligation to provide benefits passes from the plan to the insurer. The date of any other distribution to a substantial owner… | ||||
| 29:29:9.1.4.17.13.2.11.9 | 29 | Labor | XL | E | 4043 | B | Subpart B—Post-Event Notice of Reportable Events | § 4043.28 Plan merger, consolidation or transfer. | PBGC | (a) Reportable event. A reportable event occurs when a plan merges, consolidates, or transfers its assets or liabilities under section 208 of ERISA or section 414( l ) of the Code. (b) Waiver. Notice under this section is waived for this event. However, notice may be required under § 4043.29 (for a controlled group change) or § 4043.32 (for a transfer of benefit liabilities). | |||||
| 29:29:9.1.4.17.13.3.11.1 | 29 | Labor | XL | E | 4043 | C | Subpart C—Advance Notice of Reportable Events | § 4043.61 Advance reporting filing obligation. | PBGC | (a) In general. Unless a waiver or extension applies with respect to the plan, each contributing sponsor of a plan is required to notify PBGC no later than 30 days before the effective date of a reportable event described in this subpart C if the contributing sponsor is subject to advance reporting for the reportable event. If there is a change in contributing sponsor, the responsibility for any failure to file or defective filing lies with the person who is the contributing sponsor of the plan on the notice date. (b) Persons subject to advance reporting. A contributing sponsor of a plan is subject to the advance reporting requirement under paragraph (a) of this section for a reportable event if — (1) On the notice date, neither the contributing sponsor nor any member of the plan's controlled group to which the event relates is a public company; and (2) The aggregate unfunded vested benefits, determined in accordance with paragraph (c) of this section, are more than $50 million; and (3) The aggregate value of plan assets, determined in accordance with paragraph (c) of this section, is less than 90 percent of the aggregate premium funding target, determined in accordance with paragraph (c) of this section. (c) Funding determinations. For purposes of paragraph (b) of this section, the aggregate unfunded vested benefits, aggregate value of plan assets, and aggregate premium funding target are determined by aggregating the unfunded vested benefits, values of plan assets, and premium funding targets (respectively), as determined in accordance with part 4006 of this chapter for purposes of the variable-rate premium for the plan year preceding the effective date of the event, of plans maintained (on the notice date) by the contributing sponsor and any members of the contributing sponsor's controlled group, disregarding plans with no unfunded vested benefits (as so determined). (d) Shortening of 30-day period. Pursuant to § 4043.3(d), PBGC may, upon review of an advance notice, shorten the notice period to … | |||||
| 29:29:9.1.4.17.13.3.11.2 | 29 | Labor | XL | E | 4043 | C | Subpart C—Advance Notice of Reportable Events | § 4043.62 Change in controlled group. | PBGC | [80 FR 55002, Sept. 11, 2015, as amended at 90 FR 39328, Aug. 15, 2025] | (a) Reportable event. Advance notice is required for a change in a plan's controlled group, as described in § 4043.29(a). (b) Waivers —(1) Small and mid-size plans. Notice under this section is waived with respect to a change of contributing sponsor if the transferred plan has fewer than 500 participants. (2) De minimis 5-percent segment. Notice under this section is waived if the person or persons that will cease to be members of the plan's controlled group represent a de minimis 5-percent segment of the plan's old controlled group for the most recent fiscal year(s) ending on or before the effective date of the reportable event. | ||||
| 29:29:9.1.4.17.13.3.11.3 | 29 | Labor | XL | E | 4043 | C | Subpart C—Advance Notice of Reportable Events | § 4043.63 Liquidation. | PBGC | (a) Reportable event. Advance notice is required for a liquidation of a member of a plan's controlled group, as described in § 4043.30. (b) Waiver—de minimis 5-percent segment and ongoing plans. Notice under this section is waived if the person that liquidates is a de minimis 5-percent segment of the plan's controlled group for the most recent fiscal year(s) ending on or before the effective date of the reportable event, and each plan that was maintained by the liquidating member is maintained by another member of the plan's controlled group. | |||||
| 29:29:9.1.4.17.13.3.11.4 | 29 | Labor | XL | E | 4043 | C | Subpart C—Advance Notice of Reportable Events | § 4043.64 Extraordinary dividend or stock redemption. | PBGC | (a) Reportable event. Advance notice is required for a distribution by a member of a plan's controlled group, as described in § 4043.31(a). (b) Waiver—de minimis 5-percent segment. Notice under this section is waived if the person making the distribution is a de minimis 5-percent segment of the plan's controlled group for the most recent fiscal year(s) ending on or before the effective date of the reportable event. | |||||
| 29:29:9.1.4.17.13.3.11.5 | 29 | Labor | XL | E | 4043 | C | Subpart C—Advance Notice of Reportable Events | § 4043.65 Transfer of benefit liabilities. | PBGC | [80 FR 55002, Sept. 11, 2015, as amended at 89 FR 48300, June 6, 2024] | (a) Reportable event. Advance notice is required for a transfer of benefit liabilities, as described in § 4043.32(a). (b) Waivers —(1) Complete plan transfer. Notice under this section is waived if the transfer is a transfer of all of the transferor plan's benefit liabilities and assets to one other plan. (2) Transfer of less than 3 percent of assets. Notice under this section is waived if the value of the assets being transferred— (i) Equals the present value of the accrued benefits (whether or not vested) being transferred, using actuarial assumptions that comply with section 414( l ) of the Code; and (ii) In conjunction with other assets transferred during the same plan year, is less than 3 percent of the assets of the transferor plan as of at least one day in that year. (3) Section 414(l) safe harbor. Notice under this section is waived if the benefit liabilities of 500 or fewer participants are transferred and the transfer complies with section 414( l ) of the Code using the actuarial assumptions prescribed for valuing benefits in trusteed plans under §§ 4044.51 through 4044.58 of this chapter. (4) Fully funded plans. Notice under this section is waived if the transfer complies with section 414( l ) of the Code using reasonable actuarial assumptions and, after the transfer, the transferor and transferee plans are fully funded as determined in accordance with §§ 4044.51 through 4044.58 of this chapter and § 4010.8(d)(1)(ii) of this chapter. | ||||
| 29:29:9.1.4.17.13.3.11.6 | 29 | Labor | XL | E | 4043 | C | Subpart C—Advance Notice of Reportable Events | § 4043.66 Application for minimum funding waiver. | PBGC | (a) Reportable event. Advance notice is required for an application for a minimum funding waiver, as described in § 4043.33. (b) Extension. The notice date is extended until 10 days after the reportable event has occurred. | |||||
| 29:29:9.1.4.17.13.3.11.7 | 29 | Labor | XL | E | 4043 | C | Subpart C—Advance Notice of Reportable Events | § 4043.67 Loan default. | PBGC | Advance notice is required for an acceleration of payment, a default, a waiver, or an agreement to an amendment with respect to a loan agreement described in § 4043.34(a). | |||||
| 29:29:9.1.4.17.13.3.11.8 | 29 | Labor | XL | E | 4043 | C | Subpart C—Advance Notice of Reportable Events | § 4043.68 Insolvency or similar settlement. | PBGC | (a) Reportable event. Advance notice is required for an insolvency or similar settlement, as described in § 4043.35. (b) Extension. For a case or proceeding under § 4043.35(a)(1) or (2) that is not commenced by a member of the plan's controlled group, the notice date is extended to 10 days after the commencement of the case or proceeding. | |||||
| 29:29:9.1.4.17.13.4.11.1 | 29 | Labor | XL | E | 4043 | D | § 4043.81 PBGC Form 200, notice of failure to make required contributions; supplementary information. | PBGC | [80 FR 55002, Sept. 11, 2015, as amended at 85 FR 6064, Feb. 4, 2020] | (a) General rules. To comply with the notification requirement in section 303(k)(4) of ERISA and section 430(k)(4) of the Code, a contributing sponsor of a single-employer plan that is covered under section 4021 of ERISA and (if that contributing sponsor is a member of a parent-subsidiary controlled group) the ultimate parent must complete and submit in accordance with this section a properly certified Form 200 that includes all required documentation and other information, as described in the related filing instructions. Notice is required whenever the unpaid balance of a contribution payment required under sections 302 and 303 of ERISA and sections 412 and 430 of the Code (including interest), when added to the aggregate unpaid balance of all preceding such payments for which payment was not made when due (including interest), exceeds $1 million. (1) Form 200 must be filed with PBGC no later than 10 days after the due date for any required payment for which payment was not made when due. (2) If a contributing sponsor or the ultimate parent completes and submits Form 200 in accordance with this section, PBGC will consider the notification requirement in section 303(k)(4) of ERISA and section 430(k)(4) of the Code to be satisfied by all members of a controlled group of which the person who has filed Form 200 is a member. (b) Supplementary information. If, upon review of a Form 200, PBGC concludes that it needs additional information in order to make decisions regarding enforcement of a lien imposed by section 303(k) of ERISA and section 430(k) of the Code, PBGC may require any member of the contributing sponsor's controlled group to supplement the Form 200 in accordance with § 4043.3(d). |
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title_number INTEGER,
title_name TEXT,
chapter TEXT,
subchapter TEXT,
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