[Code of Federal Regulations]
[Title 29, Volume 9]
[Revised as of July 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 29CFR4043.61]

[Page 840]
 
                             TITLE 29--LABOR
 
            CHAPTER XL--PENSION BENEFIT GUARANTY CORPORATION
 
PART 4043_REPORTABLE EVENTS AND CERTAIN OTHER NOTIFICATION REQUIREMENTS
--Table of Contents
 
              Subpart C_Advance Notice of Reportable Events
 
Sec. 4043.61  Advance reporting filing obligation.


    (a) In general. Unless a waiver or extension applies with respect to 
the plan, each contributing sponsor of a plan for which a reportable 
event under this subpart is going to occur is required to notify the 
PBGC no later than 30 days before the effective date of the reportable 
event if the contributing sponsor is subject to advance reporting. If 
there is a change in contributing sponsor, the reporting obligation 
applies to the person who is the contributing sponsor of the plan on the 
notice date.
    (b) Persons subject to advance reporting. A contributing sponsor is 
subject to the advance reporting requirement under paragraph (a) of this 
section if--
    (1) Neither the contributing sponsor nor the member of the plan's 
controlled group to which the event relates is a public company; and
    (2) The contributing sponsor is a member of a controlled group 
maintaining one or more plans that, in the aggregate (disregarding plans 
with no unfunded vested benefits) have--
    (i) Vested benefits amounts that exceed the actuarial values of plan 
assets by more than $50 million; and
    (ii) A funded vested benefit percentage of less than 90 percent.
    (c) Funding determinations. For purposes of paragraph (b)(2) of this 
section--
    (1) Actuarial value of assets. The actuarial value of plan assets is 
determined in accordance with Sec. 4006.4(b)(2) of this chapter;
    (2) Funded vested benefit percentage. The aggregate funded vested 
percentage of one or more plans is the percentage that the total 
actuarial values of plan assets bears to the plans' total vested 
benefits amounts; and
    (3) Testing date. Each plan's assets and vested benefits amount are 
determined as of that plan's testing date for the plan year that 
includes the effective date of the reportable event.
    (d) Shortening of 30-day period. Pursuant to Sec. 4043.3(d), the 
PBGC may, upon review of an advance notice, shorten the notice period to 
allow for an earlier effective date.