(a) General. Under the authority of sections 103(b)(3)(G),
103(b)(4), 104(a)(2)(B), 104(a)(3), 110 and 505 of the Act, a plan whose
assets are held in whole or in part in a pooled separate account of an
insurance carrier which meets the requirements of paragraph (b) of this
section shall include as part of the annual report required to be filed
under Sec. 2520.104a-5 or Sec. 2520.104a-6 the information described
in paragraph (c) of this section. Such plan is not required to include
in its annual report information concerning the individual transactions
of the pooled separate account. This exemption has no application to
assets not held in such a pooled separate account.
(b) Application. This provision applies only to a plan some or all
of the assets of which are held in a pooled separate account of an
insurance carrier regulated and supervised and subject to periodic
examination by a State agency. For purposes of this section, (1) a
pooled separate account is an account which consists of the assets of
two or more participating entities and is maintained for the collective
investment and reinvestment of assets contributed thereto, and (2) plans
maintained by a single employer or by members of a controlled group of
corporations, as defined in section 1563(a) of the Internal Revenue Code
of 1954, shall be deemed to be a single participating entity.
(c) Contents. (1) A plan which meets the requirements of paragraph
(b) of this section, and which invests in a pooled separate account that
files a Form 5500 report in accordance with Sec. 2520.103-9, shall
include in its annual report: information required by the instructions
to Schedule H (Financial Information) or Schedule I (Financial
Information--Small Plan) about the current value of, and net investment
gain or loss relating to, the units of participation in the pooled
separate account held by the plan; identifying information about the
pooled separate account including its name, employer identification
number, and any other information required by the instructions to the
Schedule D (DFE/Participating Plan Information); and such other
information as is required in the separate statements and schedules of
the annual report about the value of the plan's units of participation
in the pooled separate accounts and transactions involving the
acquisition and disposition by the plan of units of participation in the
pooled separate account.
(2) A plan which meets the requirements of paragraph (b) of this
section, and which invests in a pooled separate account that does not
file a Form 5500 report in accordance with Sec. 2520.103-9, shall
include in its annual report: information required by the instructions
to Schedule H (Financial Information) or Schedule I (Financial
Information--Small Plan) about the current value of the plan's allocable
portion of the underlying assets and liabilities of the pooled separate
account and the net investment gain or loss relating to the
[[Page 406]]
units of participation in the pooled separate account held by the plan;
identifying information about the pooled separate account including its
name, employer identification number, and any other information required
by the instructions to the Schedule D (DFE/Participating Plan
Information); and such other information as is required in the separate
statements and schedules of the annual report about the value of the
plan's units of participation in the pooled separate account and
transactions involving the acquisition and disposition by the plan of
units of participation in the pooled separate account.
[43 FR 10140, Mar. 10, 1978, as amended at 65 FR 21081, Apr. 19, 2000] 
