Special terminal report for abandoned plans.
(a) General. The terminal report required to be filed by the
qualified termination administrator pursuant to Sec.
2578.1(d)(2)(viii) of this chapter shall consist of the items set forth
in paragraph (b) of this section. Such report shall be filed in
accordance with the method of filing set forth in paragraph (c) of this
section and at the time set forth in paragraph (d) of this section.
(b) Contents. The terminal report described in paragraph (a) of
this section shall contain:
(1) Identification information concerning the qualified termination
administrator and the plan being terminated.
(2) The total assets of the plan as of the date the plan was deemed
terminated under Sec. 2578.1(c) of this chapter, prior to any
reduction for termination expenses and distributions to participants
and beneficiaries.
(3) The total termination expenses paid by the plan and a separate
schedule identifying each service provider and amount received,
itemized by expense.
(4) The total distributions made pursuant to Sec.
2578.1(d)(2)(vii) of this chapter and a statement regarding whether any
such distributions were transfers under Sec. 2578.1(d)(2)(vii)(B) of
this chapter.
(5) The identification, fair market value and method of valuation
of any assets with respect to which there is no readily ascertainable
fair market value.
(c) Method of filing. The terminal report described in paragraph
(a) shall be filed:
(1) On the most recent Form 5500 available as of the date the
qualified termination administrator satisfies the requirements in Sec.
2578.1(d)(2)(i) through Sec. 2578.1(d)(2)(vii) of this chapter; and
(2) In accordance with the Form's instructions pertaining to
terminal reports of qualified termination administrators.
(d) When to file. The qualified termination administrator shall
file the terminal report described in paragraph (a) within two months
after the end of the month in which the qualified termination
administrator satisfies the requirements in Sec. 2578.1(d)(2)(i)
through Sec. 2578.1(d)(2)(vii) of this chapter.
(e) Limitation. (1) Except as provided in this section, no report
shall be required to be filed by the qualified termination
administrator under part 1 of title I of ERISA for a plan being
terminated pursuant to Sec. 2578.1 of this chapter.
(2) Filing of a report under this section by the qualified
termination administrator shall not relieve any other person from any
obligation under part 1 of title I of ERISA.
[[Page 20854]]
Signed at Washington, DC, this 17th day of April, 2006.
Ann L. Combs,
Assistant Secretary, Employee Benefits Security Administration,
Department of Labor.
[FR Doc. 06-3814 Filed 4-20-06; 8:45 am]
BILLING CODE 4150-29-P
