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Reportable Events and Large Unpaid Contributions

Reportable Events and Large Unpaid Contributions

Background
Filing Requirements
Technical Updates on 4043 reporting
Enrolled Actuaries Meeting Bluebooks - 4043 reporting
Filing Assistance
Enforcement
Penalties

Note: Important Information for Small Plans
PBGC is providing reporting relief to certain small plans that fail to make a required quarterly contribution for plan year 2009. This relief applies in cases where the failure is not motivated by financial inability.
See Technical Update 09-3 (April 30, 2009).

Section 4043 of ERISA requires that plan administrators and sponsors notify PBGC of the occurrence of certain events that may signal problems with a pension plan or business. PBGC’s regulation on reportable events and large cumulative funding underpayments describes the events and notice requirements in detail (see 29 CFR Part 4043). PBGC also issues Technical Updates and informal guidance in our What’s New for Practitioners Web page about these events.

Each event is listed below. For more information about an event, click on the cited regulation. In certain cases involving nonpublic companies with large underfunding (see 29 CFR §4043.61), advance notice of certain events must be given to PBGC.

Reportable Event	Post-Event Notice (Form 10)	Advance Notice (Form 10-Advance)
Active participant reduction	29 CFR §4043.23
Failure to make required funding payments	29 CFR §4043.25
Inability to pay benefits when due	29 CFR §4043.26
Distribution to a substantial owner	29 CFR §4043.27
Change in contributing sponsor or controlled group	29 CFR §4043.29	29 CFR §4043.62
Liquidation of contributing sponsor or controlled group member	29 CFR §4043.30	29 CFR §4043.63
Extraordinary dividend or stock redemption	29 CFR §4043.31	29 CFR §4043.64
Transfer of benefit liabilities	29 CFR §4043.32	29 CFR §4043.65
Application for minimum funding waiver	29 CFR §4043.33	29 CFR §4043.66
Loan default	29 CFR §4043.34	29 CFR §4043.67
Bankruptcy or similar settlement	29 CFR §4043.35	29 CFR §4043.68
Large Cumulative Funding Underpayments	10 days after the due date (Form 200)
Total underpayments, with interest, exceed $1 million	29 CFR §4043.81

The forms and instructions provided below explain which events must be reported to PBGC, when they must be reported, what information PBGC requires, and where and how to file the report.

Post-Event Notice of Reportable Events (Small plans and small plan sponsors should review Technical Update 09-3, in which PBGC provides a waiver (for certain very small plans) and a simplified alternative compliance method (for certain other small plans) for reporting of missed quarterly funding contributions for plan year 2009.)

Advance Notice of Reportable Events

Notice of Failure to Make Required Contributions Over $1 Million

Technical Update 09-3 (for 2009 plan-year contributions only): Reportable Events; Missed Quarterly Contributions; Reporting Relief for Small Plans; Guidance for 2009 Plan Years. (April 30, 2009)

Technical Update 09-1: Reportable Events; Funding-Related Determinations for Threshold Test, Waivers, and Extensions; Effect of the Pension Protection Act of 2006; Guidance for 2009 Plan Years. (January 09, 2009)

Technical Update 08-2 (for 2008 plan-year contributions only): Waiver for Small Employer Reporting of Missed Quarterly Contributions. (March 24, 2008)

Technical Update 07-2: Funding-Related Determinations for Reporting Under Parts 4010 and 4043; Effect of the Pension Protection Act of 2006; Transitional Guidance. (November 28, 2007)

Technical Update 07-1: Effect of Treasury Mortality Tables on PBGC Requirements. (February 13, 2007)

Technical Update 06-4: Use of Corporate Bond Rate for Certain PBGC Purposes. (August 30, 2006)

Technical Update 97-6: Waiver for Small Employer Reporting of Missed Quarterly Contributions. (November 03, 1997)

Technical Update 97-4: Special Filing Relief for Reporting Missed Quarterly Contributions for 1997. (May 08, 1997)

Technical Update 95-3: Reportable Events. (February 17, 1995)

Other useful information may be found on the What’s New for Practitioners Web page.

In connection with Enrolled Actuaries Meetings, PBGC staff has met with representatives of the Enrolled Actuaries Program Committee to discuss a number of questions relating to these reporting requirements. Summaries of the questions and answers (in PDF format) discussed at the meetings are available here as a public service.

For assistance, contact PBGC by sending an e-mail to post-event.report@pbgc.gov, advance.report@pbgc.gov, or form200@pbgc.gov (whichever applicable), or by calling our toll-free practitioner number at 1-800-736-2444 (ext. 4070) or 202-326-4070 (DC area). TTY/TDD users may call the federal relay service toll-free at 1-800-877-8339 and ask to be connected to the appropriate number.

PBGC regularly monitors plan compliance with Part 4043 using, among other methods:

electronic data comparison of information reported on PBGC premium and Form 5500 filings;
financial information services and news databases; and
information sharing with the Department of Labor, the Internal Revenue Service, and the Securities and Exchange Commission.

PBGC’s current penalty policy applies to failure to timely file information required by Part 4043 (see also ERISA §4071 and 29 CFR Part 4071).