This package contains:

Form MP-400, Schedule A, and Schedule B

Missing Participants Program

Filing Instructions

for

PBGC-Insured Multiemployer Defined Benefit Plans

that Closed Out on or after January 1, 2018
Form MP-400 instructions 

Table of Contents

Overview................................................................................................................................................. 1

What, How, and When to File................................................................................................................... 6

Determining Benefit Transfer Amounts..................................................................................................... 8

Line-by-Line Instructions for Completing Forms and Related Schedules

• Form MP-400 (Plan Information) ............................................................................................................

10

• Schedule A (Individual Information – Annuity Purchases) ................................................................ 12

• Schedule B (Individual Information – Transfers to PBGC) ................................................................. 15

Appendices 

• Appendix 1 – Defined Terms ................................................................................................................. 21

• Appendix 2 – Diligent Search Requirement ........................................................................................ 23

• Appendix 3 – Accumulating Back Payments ....................................................................................... 25

• Appendix 4 – Common Filing Errors...................................................... ............................................... 7

• Appendix 5 – Paperwork Reduction Act Notice .................................................................................. 27
Overview

Form MP-400 instructions Page 1

Introduction

The goal of PBGC’s Missing Participants Program is to connect missing participants with their benefits from 

plans that terminated and closed out. PBGC does this by searching for participants and beneficiaries who 

could not be located when their plans ended and paying their benefits when found, or, where the plan 

purchases an annuity from an insurance company for the missing participant, by providing contact 

information for the applicable insurer to the found participant or beneficiary.

The program covers PBGC-insured single-employer defined benefit (DB) plans that terminated in a 

standard termination or in a sufficient distress termination (where the plan was sufficient for all 

guaranteed benefits) and other types of terminated retirement plans, including multiemployer DB plans, 

small professional service DB plans, and to most terminated defined contribution plans.

Although the Missing Participants Program is voluntary for some eligible retirement plans, submission of 

information and/or benefits for a missing participant in a terminated PBGC-insured multiemployer DB plan

that closed out on or after January 1, 2018, is required by section 4050 of the Employee Retirement Income 

Security Act of 1974 (ERISA) and PBGC’s Missing Participants Regulations (29 CFR Part 4050 subpart D). 

These forms and instructions apply only to terminated PBGC-insured multiemployer DB plans that close 

out on or after January 1, 2018. Instructions and forms for the other types of retirement plans covered by 

PBGC’s Missing Participants Program can be found on PBGC’s Missing Participants Program webpage. 

Terminology

Although the program is referred to as the Missing Participants Program, it covers beneficiaries as well as 

plan participants. Throughout these instructions we use the term missing distributee when referring to 

anyone covered by the program (i.e., a participant or a beneficiary). The term participant is used both 

when referring to the overall program and when referring to an individual who was a participant in the 

plan.

Appendix 1 provides definitions for terms used throughout these instructions. In general, defined terms 

are capitalized to signal the reader to refer to Appendix 1 for more information. The convention of 

capitalizing the defined terms is not followed for a few frequently-used defined terms (e.g., “we,” “you,” 

“participant,” “distributee”).

What’s New

The current filing requirements are almost identical to the prior filing requirements. Key changes 

include:

• Filings with more than five missing distributees – If there are more than five missing distributees, 

information about those missing individuals (i.e., information that gets reported on Schedule A 

or B, whichever is applicable) must be reported in a spreadsheet format. Plan-related 

information is still reported on a form. See the “How to File” section for more information.

• Definition of De Minimis – The threshold for a benefit to be considered De Minimis, which affects 

the calculation of the Benefit Transfer Amount and whether annuity information must be 

reported on Schedule B, has changed with respect to plans that terminated on or after January 1, 
Overview

Form MP-400 instructions Page 2

2024. See Appendix 1 for more information. 

• Default beneficiary provision – A new question has been added to Schedule B asking if the plan 

has a provision describing who is entitled to receive benefits in the event benefits are owed, but 

the participant dies with no valid beneficiary designation on file.

• Common filing errors – We have added a new appendix containing details about common filing 

errors. We encourage you to review this information before submitting your filing. We’ve also 

added an overview of those common errors at the end of this section.

Who must file

The plan sponsor of a PBGC-insured multiemployer plan must submit this form (and related schedules and 

attachments) if –

• The plan completes the process of closing out under subpart D of PBGC’s regulation on 

Termination of Multiemployer Plans (29 CFR part 4041A), and

• One or more distributees is missing.

Multiemployer plans that terminate but do not close out cannot use this program.

Who counts as missing

In general, an individual is considered missing if, when the plan closes out, the plan doesn’t know the 

individual’s location (e.g., if a notice from the plan is returned as undeliverable). For purposes of these 

instructions, we use the term “Unlocatable” to describe a missing distributee in this situation. 1

An individual is also considered missing if:

• The individual’s benefit was subject to a mandatory cash-out under the plan’s terms and the 

individual did not return the necessary paperwork providing instructions about how the payment 

should be made (e.g., by check or as a direct rollover to an IRA); or

• The individual did not accept a lump sum payment, whether elected voluntarily or subject to 

mandatory cash-out (see “Unaccepted lump sum payments” below).

We use the term “Unresponsive” to describe a missing distributee in either of the two situations noted 

immediately above. Note that a missing distributee may be both “Unlocatable” and “Unresponsive.”

Unaccepted lump sum payments issued in conjunction with the plan’s termination

If a check issued to a distributee by the plan in conjunction with the plan’s termination remains uncashed 

by the “cash-by” date on the check or in an accompanying notice, e.g., a date prescribed by the bank or 

the plan, the lump sum payment is considered unaccepted if the check is not cashed by that date. This 

“cash-by” date must be at least 45 days after the check is issued. If there is no prescribed “cash-by” date, 

1

 There is a requirement to do a Diligent Search in an attempt to locate these individuals. See Appendix 2 for 

information about the Diligent Search requirement. 
Overview

Form MP-400 instructions Page 3

then the lump sum is considered unaccepted if it is not cashed by the check’s stale date.2

2

 A check’s stale date is typically six months after the check’s payment date. See § 4-404 of the Uniform Commercial 

Code. Note that this date may vary by state.
Overview

Form MP-400 instructions Page 4

Obligation before filing

• Request a case number — You must request a case number in advance of submitting your filing 

because the case number needs to be reported in the filing, and, for benefits transferred to 

PBGC, with the payment. 

To request a case number, send an email to multiemployerprogram@pbgc.gov with “Requesting 

case number for multiemployer DB plan” in the subject line. In the body of the email, include 

the plan sponsor’s name, the Employer Identification Number (EIN), and the 3-digit plan number. 

In addition, please report the date you anticipate submitting the filing. 

Within three business days, PBGC will notify you of the case number assigned to your plan. In 

general, this notification will be made by email (and sent to the email address from which the 

request was sent).

• Diligent Search — You must conduct a Diligent Search in an attempt to find Unlocatable

distributees before reporting them as missing. For information about the Diligent Search

requirement, see § 4050.404 of PBGC’s Missing Participants regulation and Appendix 2 of these 

instructions.

Transferring Benefits vs. Reporting Annuity Purchase Information

For each missing distributee, the plan must either:

• Transfer the value of the distributee’s benefit to PBGC, or

• Purchase an annuity from a private insurer in the distributee’s name and provide PBGC with the 

information necessary to connect the individual with that insurer.

Administrative Fee

PBGC charges a one-time $35 administrative fee with respect to each missing distributee for whom the 

plan transfers a payment obligation of more than $250 to PBGC. No fees are charged on behalf of 

individuals for whom the plan:

• Transfers a payment obligation of $250 or less to PBGC, or

• Purchases an annuity from a private insurer.
Overview

Form MP-400 instructions Page 5

Common Filing Errors

• Deceased participants — In situations where the missing distributee is a beneficiary:

‒ Not providing the required attachment, and/or

‒ Reporting the participant’s name and SSN on Schedule A or B (whichever is applicable) 

instead of the beneficiary’s name and SSN. 

• Uncashed checks — In situations where the distributee is considered missing because they 

failed to cash a distribution check issued in conjunction with the plan’s termination, 

transferring the balance net of the amount withheld for taxes.

Appendix 4 provides detailed information about these errors. 
What, How, and When to File 

Form MP-400 instructions Page 6

What to file

A Missing Participants Filing includes Form MP-400 and applicable schedules as summarized below:

Form/Schedule Type of information

Form MP-400 Plan information

Schedule A Individual information about annuity purchases

Schedule B Individual information about transfers to PBGC

With respect to Form MP-400, you may enter data directly into a PDF fillable/printable version of the form, 

or print a blank pdf version of the form and applicable schedule and enter the data by hand. 

With respect to Schedules A and B –

• If you are reporting information for more than five missing distributees on either Schedule, the 

required information must be reported in a spreadsheet format (i.e., the information for each 

missing distributee is reported in a separate row and each required data element is reported in a 

separate column). The spreadsheet is submitted as an attachment to the filing.

A sample spreadsheet that may be used for this purpose is available on PBGC’s website. The 

spreadsheet is set up so that each required data element is reported in a particular cell and it also 

includes space for additional attachment information that is required. In addition, the spreadsheet 

can be used to calculate totals that need to be reported on Form MP-400 (e.g., number of 

individuals, total transfer amount).

• If you are reporting information for fewer than six missing distributees on either Schedule, you may 

report the individual information:

‒ In a spreadsheet format (see above), or

‒ Directly on the “form-version” of the applicable Schedule(s). With this approach, you may 

enter data directly into a pdf fillable/printable version of the form or print a blank pdf version 

of the form and applicable schedule and enter the data by hand.

Although the spreadsheet format is not required for these filings, you may find it useful 

because a spreadsheet can be used to calculate totals that you will need to report on Form 

MP-400 (e.g., number of individuals, total transfer amount).

How/where to file 

Before filing, the Plan Sponsor must sign and date Form MP-400. You may submit the signed filing by 

email, U.S. mail or a commercial delivery service.

• To file by email, scan a signed copy of Form MP-400 and send the complete Missing Participants

Filing (Form MP-400, applicable schedules and any required attachments) to 

multiemployerprogram@pbgc.gov with “Filing for case # [insert applicable case #]” in the subject line. 

If you are reporting individual-specific information in a spreadsheet using the template posted on 

PBGC’s website (as opposed to directly on the Schedule A and/or B), be sure to attach that
What, How, and When to File 

Form MP-400 instructions Page 7

spreadsheet as well.

For the security of your data, PBGC recommends submitting your filing using PBGC | Powered By 

LeapFILE or password protecting your files and sending the password separately.

• To file by mail or a commercial delivery service, send the complete filing to: 

Pension Benefit Guaranty Corporation

Multiemployer Program Division

445 12th Street SW

Washington, DC 20024-2101

Contacting PBGC

If you have questions about how to complete a Missing Participants Filing for a PBGC-insured 

multiemployer plan, contact:

• By email: multiemployerprogram@pbgc.gov

• By phone: (800) 400-7242, ext. 6047. If you are deaf, hard of hearing, or have a speech disability, 

dial 7-1-1 to access telecommunications relay services.

How to send payment

If you are required to submit payment as part of the filing, we encourage you to send funds electronically 

via www.pay.gov, a free and user-friendly Federal website from which you can make secure electronic 

payments directly to many Federal Agencies, including PBGC. Alternatively, you may send payment 

by electronic funds transfer (ACH or Fedwire) or paper check. 

See the “Payment Instructions” section of the Missing Participants Program webpage for additional 

information about payment options, including addresses and information to be included with the 

payment.

When to file 

The date for submitting a Missing Participants Filing, and for payment of any monies owed to PBGC, is no 

later than 90 days after all distributions are made to distributees who aren’t missing, or one year after the 

plan termination date, whichever is later.

Amending Filings

If, after submitting a Missing Participants Filing, you discover that it is incorrect or incomplete, you must 

submit an amended filing. 

If, as a result of an amended filing, additional money must be transferred to PBGC, a late payment charge 

will be owed if the transfer is made more than 90 days after the Benefit Determination Date.
Determining Benefit Transfer Amounts

Form MP-400 instructions Page 8

This section provides guidance on how to determine the amount to be paid to PBGC on behalf of a missing 

distributee for whom the obligation for paying the benefit is transferred to PBGC, instead of to a private 

insurer. This amount is called the “Benefit Transfer Amount.”

Determining a Distributee’s Benefit Transfer Amount

The Benefit Transfer Amount is generally the present value of a distributee’s accrued benefit as of the 

Benefit Determination Date. In some cases, it also includes the accumulated value of payments that 

should have been made before that date.

The assumptions and methods used to calculate the present value vary depending upon whether the 

distributee would have, or could have, received a lump sum had the distributee not been missing when 

the plan terminated. Depending upon the answer, each distributee falls into one of the following three 

categories:

• Category 1 – The participant’s benefit was De Minimis and would have been distributed as a lump 

sum without consent.

3

• Category 2 – The participant’s benefit was not De Minimis and the participant would not have been 

eligible to elect to receive a lump sum in lieu of an annuity.

• Category 3 – The participant’s benefit was not De Minimis and the participant would have been

eligible to elect to receive a lump sum (subject to spousal consent rules, if married) in lieu of an 

annuity.

The rules applicable to each category follow:

Category 1 (De Minimis benefit)

The Benefit Transfer Amount for a Category 1 participant is determined using the assumptions and 

methods the plan uses for determining lump sums and, if applicable, established plan practice with 

respect to missed back payments. Thus, in general the Benefit Transfer Amount is the amount the plan 

would have provided to the participant had the participant not been missing (before reflecting tax 

withholding, etc.). 

Category 2 (Non De Minimis benefit/No lump sum option) 

The Benefit Transfer Amount for a Category 2 participant is the present value of benefits payable on or 

after the Benefit Determination Date determined using PBGC Missing Participant Assumptions, plus, if 

applicable, the accumulated value of certain back payments (see next page).

• Present value determined using PBGC Missing Participant Assumptions - The PBGC Missing Participant 

Assumptions are a simplified version of the assumptions used to value benefits to be paid as annuities 

in PBGC’s trusteed plans (i.e., the assumptions prescribed in PBGC’s regulation on Allocation of Assets 

in Single-Employer Plans, 29 CFR § 4044 assumptions). PBGC has developed a user-friendly 

spreadsheet that can be used for this portion of the calculation. The spreadsheet is called the 

“Category 2 PV Calculator” and is available on PBGC’s Missing Participants Program webpage.

3 The threshold under section 203(e) of ERISA, commonly called the “automatic cash-out” or “mandatory cash-out” threshold is 

$7,000 if the Benefit Determination Date is after December 31, 2023. Otherwise, it is $5,000. It’s possible that a plan provides for a 

lower threshold or that it has no provision for automatic cash outs. If either situation applies, when determining to which 

category a Missing Participant belongs, the plan is treated as if it provided for automatic cash-outs of benefits that do not exceed 

the maximum allowable threshold. If the plan does not specify assumptions or methods to be used for purposes of determining 

lump sums, any assumptions and methods that would be permitted under section 205(g) of ERISA or section 417(e) of the Code 

may be used for this purpose.
Determining Benefit Transfer Amounts

Form MP-400 instructions Page 9

A summary of how the PBGC Missing Participant Assumptions compare to § 4044 assumptions is 

provided below:

PBGC Missing Participant Assumptions

Interest Same as for § 4044 calculations except that the § 4044 factors change 

monthly, and for purposes of determining the Benefit Transfer 

Amount, the factors in effect for January are used for the entire 

calendar year.

Mortality 36TA unisex version of the mortality table used for § 4044 purposes36T. The 

unisex table is created by taking a 50/50 blend of the healthy male and 

female tables. 

Assumed retirement age If the missing distributee is a participant whose Normal Retirement 

Date is:

• After the Benefit Determination Date, the § 4044 expected 

retirement age (“XRA”) determined using the “high” table.

• On or before the Benefit Determination Date, age at Normal 

Retirement Date.

If the missing distributee is a beneficiary, the later of:

• The Benefit Determination Date, or

• The earliest date the beneficiary is allowed to start receiving 

benefits (per plan provisions).

Form of payment to be 

valued

Straight life annuity payable at the assumed retirement age.

Pre-retirement death 

benefits

Disregarded

§ 4044 Expense Load Disregarded 

• Accumulated value of certain back payments. This component of the Category 2 Benefit Transfer 

Amount applies only if:

– The Benefit Determination Date is after the missing participant’s Normal Retirement Date, or 

– The missing participant began receiving benefits before the Benefit Determination Date (i.e., the 

missing participant was in Pay-Status).

Appendix 3 provides detailed information about how these calculations are done.

Category 3 (Non De Minimis benefit/Lump sum available)

The Benefit Transfer Amount for a Category 3 participant is whichever is greater:

– The amount that would apply if the participant was in Category 1, or

– The amount that would apply if the participant was in Category 2. 
Instructions for Form MP-400 (Plan Information)

Form MP-400 instructions Page 10

Unless the instructions below indicate that an item may be omitted, all of the following information must 

be reported. If you are filling out the form by hand, please print all information in uppercase.

Amended filings

When amending a Missing Participants Filing, Schedules A and B of the amended filing must contain 

complete information for all missing distributees, including an amended filing code. For example, if you 

report three individuals on the original Schedule B, and subsequently discover that:

• One missing participant was inadvertently omitted, the Schedule B for the amended filing must 

contain complete data on all four missing participants.

• One previously reported participant is not entitled to a benefit, the Schedule B for the amended filing 

must contain complete data on the other two missing participants. 

Part I — General Information

1 Plan information

a Enter the complete name of the plan as it appears in the plan document.

b Enter the Employer Identification Number and the plan number.

c Enter the 8-digit PBGC case number assigned to the plan. If you have not yet requested a case 

number, you must do so before submitting the filing. For instructions on how to request a case 

number, see “Obligations before filing” in the Overview section.

d Enter contact information (e.g., name, company, address, email, phone) for the person PBGC 

should contact if we have questions about the filing. This could be the Plan Sponsor, a thirdparty administrator, etc.

2 Number of missing distributees. Enter the total number of missing distributees broken down into the 

following categories:

a Enter the number for whom an annuity was purchased (i.e., individuals reported on Schedule A).

b Enter the number for whom benefits are being transferred to PBGC (i.e., individuals reported on 

Schedule B) and provide a breakdown of those with Benefit Transfer Amounts above $250, and 

those with Benefit Transfer Amounts of $250 or less.

c Enter the total number of missing distributees.

3 Enter the Benefit Determination Date (mm/dd/yyyy). If you are not transferring any benefits to 

PBGC’s Missing Participants Program, skip this item.
Instructions for Form MP-400 (Plan Information)

Form MP-400 instructions Page 11

4 Commercial locator service. If a commercial locator service was used in an attempt to locate missing 

individuals, enter the name of such service. Otherwise, leave this item blank. 

If this is an amended filing, complete item 5. Otherwise, skip to Part II.

5 Additional information re: amended filings. 

If one or more individuals reported in the original filing is not reported in this amended filing, check 

the “Yes” box. This could happen if, for example, you originally reported that an annuity had been 

purchased for a missing individual, but later discovered that the individual received a lump sum and 

that the annuity was purchased in error. Otherwise, check the “no” box.

Required attachment— If any previously reported individuals are no longer considered missing (i.e., if 

you checked the “Yes” box), include an attachment, reporting each such individual’s name, social 

security number, and whether the individual was previously reported on Schedule A or Schedule B.

Part II — Amounts due PBGC (enter amounts in dollars and cents)

6 Amounts owed to PBGC for missing distributees reported in this filing:

a Enter the aggregate value of all Benefit Transfer Amounts. This is the sum of the amounts 

reported in item 3 of Schedule B for each individual reported on a Schedule B. 

b Enter the aggregate administrative fee. The fee is $35 for each missing distributee reported on 

Schedule B for whom the Benefit Transfer Amount exceeds $250. This is the sum of the amounts 

reported in item 4 of each Schedule B. This is also the result you get if you multiply $35 by the 

number reported in item 2b of Form MP-400.

c Enter the aggregate late payment charge, if applicable. This is the sum of the amounts reported 

in item 5b of each Schedule B. 

d Enter the sum of items 6a, 6b, and 6c above.

If this is an amended filing, complete item 7. Otherwise, skip to Part III.

7 Reconciliation 

a Previously paid amounts — Enter the amount previously sent to PBGC in conjunction with prior 

filings for this plan. 

b Underpayment/(Overpayment) — Subtract item 7a from item 6d and enter the result. If the result 

is greater than $0, this is the amount that must be sent to PBGC. If the result is negative, PBGC will 

contact you to facilitate a refund of the overpayment.

8 Payment method. Check the applicable box to indicate the payment method. 

Part III — Plan Sponsor Certification

9 The information reported in this filing must be certified by the Plan Sponsor. To do so, the required 

identifying information (e.g., name of person certifying the filing and applicable contact information) 

must be entered and the Plan Sponsor must sign and date the filing.
Instructions for Schedule A (Individual Information - Annuity Purchases)

Form MP-400 instructions Page 12

You must complete Schedule A if annuities were purchased from a private insurer for any missing 

distributees.

If you are:

• Using a spreadsheet to report Schedule A information, complete item 1 of Schedule A, enter “See 

attached” in item 2a (the space provided for the name of the financial institution), and leave the rest 

of the Schedule A blank. 

• Entering information into the pdf-fillable form version of Schedule A and need to report information 

for more than two individuals, click the button labeled “Add another Schedule A.”4

• Entering information on a hard copy of the “form version” of Schedule A by hand:

– Print all information in uppercase, and

– If you need to report information for more than two individuals, use additional Schedules A, 

number each one consecutively, and report the total number of Schedules A in the space 

provided at the top of the form. For example, if two Schedules A are needed, the top of the first

schedule should show: “This Schedule A is #1 of 2.”

Unless the instructions below indicate that an item may be omitted, all of the following information 

must be reported.

Part I — Plan/Insurance Company Information

1 Plan information — Enter the same information reported in items 1a-c of Form MP-400. 

2 Insurance company information — Enter the applicable information about the insurer from which you 

purchased the annuities. 

Part II — Individuals for whom Annuities were Purchased

Enter applicable information for each missing distributee for whom an annuity was purchased from the 

insurer reported in item 2.

If the participant is deceased (i.e., if the missing distributee is a beneficiary), the information reported 

should relate to the beneficiary.

3 Missing distributee information— Enter the following information with respect to each missing 

distributee.

a Identifying information — Enter the individual’s name, date of birth, and Social Security number. If 

the insurer provided individual certificate numbers for each distributee, enter the individual’s 

certificate number in the space provided. Otherwise, enter “N/A”.

b Last known address — Enter the individual’s last known address.

c Accrued benefit — Enter the individual’s accrued benefit.

PBGC intends to use the accrued benefit reported solely to prioritize its search efforts, so it is not 

necessary to do additional calculations for purposes of reporting the benefit in a particular payment 

4 The form version of Schedule A has room to report only two participants.
Instructions for Schedule A (Individual Information - Annuity Purchases)

Form MP-400 instructions Page 13

form. 

Report whatever information is readily available. For example, you may report a lump sum 

equivalent of the accrued benefit or the monthly benefit commencing at the later of the individual’s 

Normal Retirement Date or current age. No adjustment is needed if the amount reported as a 

monthly annuity is in a form other than the plan’s normal form. Hybrid plans may report the 

hypothetical account balance.

Check the applicable box to indicate whether the amount reported is a monthly benefit or a 

“current value” (e.g., the lump sum equivalent of the accrued benefit, the hypothetical account 

balance, etc.).
Instructions for Schedule A (Individual Information - Annuity Purchases)

Form MP-400 instructions Page 14

If this is an amended filing, complete item 4. Otherwise, leave this item blank.

4 Amended filing code — Enter the applicable code for each reported individual.

Code Description

A This individual was previously reported; none of the information related to this 

distributee has changed since the most recently submitted filing.

B This individual was previously reported; some or all of the information related to 

this distributee has changed since the most recently submitted filing.

C This individual was not previously reported. 
Instructions for Schedule B (Individual Information – Transfers to PBGC)

Form MP-400 instructions Page 15

You must complete Schedule B if the obligation for paying benefits to any missing distributee is being 

transferred to PBGC.

If you are:

• Using a spreadsheet to report Schedule B information, complete item 1 of Schedule B, enter “See 

attached” in item 2a (the space provided for the name of the financial institution), and leave the rest 

of the Schedule B blank. 

• Entering information into the pdf-fillable form version of Schedule B and need to report information 

for more than one individual, click the button labeled “Add another Schedule B.”5

• Entering information on a hard copy of the “form version” of Schedule B by hand:

- Print all information in uppercase, and

- If you need to report information for more than two individuals, use additional Schedules B, 

number each one consecutively and report the total number of Schedules B in the space 

provided at the top of the form. For example, if three Schedules B are needed, the top of the 

first schedule should show: “This Schedule B is # 1 of 3.”

Unless the instructions below indicate that an item may be omitted, all of the following information 

must be reported.

Part I — Identifying Information

1 Plan information — Enter the same information reported in items 1a - c and item 3 of Form MP-400. 

2 Missing distributee information

Enter the following information with respect to each missing distributee. 

If the participant is deceased (i.e., if the missing distributee is a beneficiary), the information reported 

should relate to the beneficiary.

a-d Enter the name, date of birth, social security number and last known address of each missing 

distributee for whom a benefit is being transferred to PBGC.

e Other name(s) ever used — If you are aware of other names this missing distributee has used, 

enter that information here. This item may be left blank. 

f Type of missing distributee — If the missing distributee is the plan participant, check the 

“Participant” box. Otherwise, check the “Beneficiary” box. Note that a separate attachment is 

required if the answer is “Beneficiary” (see below). 

Required attachment for Missing Distributees who are Beneficiaries – The following information

must be attached to the Schedule if a missing distributee is a beneficiary:

• Identifying information about the plan and missing distributee (e.g., information reported in 

items 1a – c and 2a – d, including applicable Schedule number).

• Explanation of why this individual is entitled to benefits (e.g., surviving spouse, alternate 

payee, other named beneficiary) and include the name and Social Security Number of the 

relevant participant (i.e., the individual who earned the benefits). If the relevant participant 

5 The form version of Schedule B has room to report only one participant.
Instructions for Schedule B (Individual Information – Transfers to PBGC)

Form MP-400 instructions Page 16

is deceased, include the date of death.

• Information about the benefit to which the beneficiary is entitled (e.g., amount, scheduled 

commencement date, scheduled form of payment).

• Information about any required benefit adjustments including adjustments for early or late 

commencement.

• Any other information that would be useful in determining the benefit to which the 

beneficiary is entitled. 

Attach any relevant documents (e.g., a copy of a QDRO, a beneficiary designation form, a plan

provision related to default beneficiaries for situations where no valid beneficiary designation 

form is on file).

g Check the applicable box to indicate whether the missing distributee received any benefit 

payments from this plan before losing contact with the Plan. Note that a separate attachment is 

required if the answer is “Yes” (see below). 

Required attachment for “Pay-Status” Missing Distributees –The following information must be 

attached to the Schedule:

• Identifying information about the plan and missing distributee (e.g., information reported in 

items 1a – c and 2a – d, including Schedule number, if applicable).

• Benefit Information (monthly benefit amount, payment form selected, date benefits 

commenced, date of last payment).

• Any other information that would be useful in determining the benefit to which the 

individual is entitled. 

h Check the applicable box to indicate whether any portion of the missing distributee’s benefit is 

attributable to non-U.S.-source income. Note that a separate attachment is required if the 

answer is “Yes” (see below).

There are different taxation and withholding rules for a distribution depending on whether the 

payment is U.S. source or non-U.S. source income. For more information about determining the 

source of pension payments, see Source of Income, Pension payments, in IRS Publication 515, 

Withholding of Tax on Nonresident Aliens and Foreign Entities.

Required attachment where a portion of the benefit is treated as non-US-source income – The 

following information must be attached to the Schedule:

• Provide the method used for determining what portion of the distributee’s benefit is 

attributable to non-U.S.-source income. The method used should be consistent with the 

method prescribed by the IRS in Revenue Procedure 2004-37. If not, describe the method 

that was used.

• Identify what portion of the distributee’s benefit is treated as U.S.-source income.

• Identify what portion of the distributee’s benefit is treated as non-U.S.-source income.

• If the portion of the benefit treated as U.S.-source income is very low or zero percent, explain 

why and provide additional information, such as:

o The situs of the trust if it is not in the United States.

o Any other information that would help explain why all or most of the benefit is 
Instructions for Schedule B (Individual Information – Transfers to PBGC)

Form MP-400 instructions Page 17

treated as non-U.S.-source income.

o Any information that would provide another reason why all or most of the benefit is 

non- taxable. For example, if the distributee is eligible for treaty benefits with respect 

to the distribution, the applicable provision in the income tax treaty or related 

agreement under which those benefits are claimed. (This includes a copy of a valid 

form W-8 BEN, Certificate of Status of Beneficial Owner for United States Tax 

Withholding and Reporting, if available.)

i Check the applicable box to indicate whether any portion of the benefit due is attributable to 

employee contributions. Note that a separate attachment is required if the answer is “Yes” (see 

below). 

Required attachment for benefits partially funded with employee contributions — The 

following information must be attached to the Schedule:

• Identifying information about the plan and missing distributee (e.g., information reported in 

items 1a – c and 2a – d, including Schedule number, if applicable).

• Accumulated value of employee contributions, broken down into voluntary and mandatory 

contributions. For this calculation, interest is credited at the rate prescribed by section 411(c)

of the Code. 

• Total amount of employee contributions, excluding interest, broken down into voluntary and 

mandatory contributions.

• Any other information that would be useful in determining the benefit to which the 

individual is entitled. 

j Beneficiary information — Complete this item only if “Participant” is checked in item 2f.

(1) Default beneficiary provision — If the plan provides a rule regarding who is entitled to a 

benefit in the event benefits are owed, but the participant dies with no valid beneficiary 

designation on file, check the “Yes” box and attach a copy of the relevant plan provision.6

Otherwise, check the “No” box.

If you check the “Yes” box and are filing more than one Schedules B, attaching one copy of 

the relevant plan provision is sufficient.

(2) If the plan has a valid beneficiary designation form on file for this missing participant, check 

the “Yes” box and attach a copy of the form. If the Plan does not have a valid beneficiary 

designation form on file, check the “No” box. A beneficiary designation form is considered 

valid for this purpose if it:

• Includes the participant’s signature, and

• In the case of a married participant who designated someone other than a 

spouse, includes the spouse’s signed consent form witnessed by a notary.

If item 2j(2) is “yes,” complete items 2j(3) – 2j(5). Otherwise, skip to item 2k.

6 If the same provision applies to more than one participant reported on Schedule B, one attachment is sufficient.
Instructions for Schedule B (Individual Information – Transfers to PBGC)

Form MP-400 instructions Page 18

(3) - (5) Enter the applicable information about the beneficiary. If the beneficiary is not an 

individual (e.g., a trust), leave the Social Security Number item blank. 

If this is an amended filing, complete item 2k. Otherwise, skip to item 3.

k Amended filing code — Enter the applicable code for each reported individual.

Code Description

A This individual was previously reported; none of the information related to this 

distributee has changed since the most recently submitted filing.

B This individual was previously reported; some, or all of the information related 

to this distributee has changed since the most recently submitted filing.

C This individual was not previously reported. 
Instructions for Schedule B (Individual Information – Transfers to PBGC)

Form MP-400 instructions Page 19

Part II — Amount Owed to PBGC (enter amounts in dollars and cents)

3 Enter the Benefit Transfer Amount (dollars and cents). For instructions on how to determine this 

amount, see the section titled “Determining a Distributee’s Benefit Transfer Amount.”

4 Administrative fee — If item 3 is greater than $250.00, enter $35.00. Otherwise, enter $0.

5 Late payment charge 

a Late payment — A Benefit Transfer Amount (or portion thereof) is considered late if it is paid to 

PBGC more than 90 days after the Benefit Determination Date. This could happen for a variety of 

reasons (e.g., the plan discovers that a participant is missing several months after Form MP-400 

was filed and thus amends the filing to report that participant). If any portion of the amount 

entered in item 3 is (or will be) transferred to PBGC more than 90 days after the Benefit 

Determination Date, enter that amount. 

b If there is a late payment, enter the applicable interest charge. Otherwise, leave this item blank.

Interest is determined using the Missing Participants Interest Rate and is accumulated from the 

90th day after the Benefit Determination Date through to the date the late payment is transferred 

to PBGC. A historical listing of applicable interest rates is available on PBGC’s Missing 

Participants Program webpage.

Part III— Missing Participant Benefit Information

Complete this part only if (1) the missing distributee is the plan participant, (2) the missing distributee has 

yet to receive any plan benefits (i.e., 2g was answered “No”) and (3) the Benefit Transfer Amount reported 

in item 3 is not De Minimis.

6 Lump sum eligibility — If the missing participant would have been eligible to elect a lump sum had the 

participant not been missing, check the “Yes” box. Otherwise, check the “No” box.

7 Normal retirement date — Enter the missing participant’s normal retirement date or, if later, the date 

the participant stopped accruing benefits.

8 Annuity Information (enter amounts in dollars and cents)

a Annuity payable at Benefit Determination Date — Complete this item only if as of the Benefit 

Determination Date the participant is over age 55, is eligible to commence benefits, and has not yet 

reached Normal Retirement Age.

Enter the monthly straight life annuity payable starting at the Benefit Determination Date.

b Annuity payable at various possible benefit commencement dates – Enter the monthly straight life 

annuity at each applicable age as explained below:

• Ages 55-65 — In general, an amount must be entered for each of these possible commencement 

dates, but there are some exceptions. Enter N/A for:

– Ages before the participant would have been eligible to commence benefits.

– Commencement dates in the past. For example, if the participant is age 583⁄4 on the Benefit 

Determination Date, for the age-specific items, report amounts starting with age 59 and 

enter N/A for ages 55 – 58.

– Ages after the participant’s normal retirement age. For example, if the participant’s normal 

retirement age is 62, enter N/A for ages 63, 64, and 65.
Instructions for Schedule B (Individual Information – Transfers to PBGC)

Form MP-400 instructions Page 20

• Normal Retirement Date — Enter the amount payable at the missing participant’s Normal 

Retirement Date or, if later, the date the participant stopped accruing benefits.

This amount must be reported, even if the participant’s Normal Retirement Date was before 

the Benefit Determination Date. In many cases, PBGC expects that this will be the same 

amount entered for age 65. 
Appendix 1 — Defined Terms

Form MP-400 instructions Page 21

The definitions shown below apply for purposes of PBGC’s Missing Participants Program, as it relates

to PBGC-covered multiemployer DB plans. These terms may have different meanings for other 

purposes. In general, the terms below are shown in capital letters throughout the instructions.

Beneficiary generally means a person designated by a pension plan participant, or by the plan's terms, 

to receive some or all of the participant's pension benefits upon the participant's death or some other 

event. An alternate payee under a Qualified Domestic Relations Order also is considered a beneficiary. 

In some cases, a Beneficiary might be a trust or organization rather than an individual.

Benefit Determination Date means the date as of which the Benefit Transfer Amount is determined. 

This date must be during the period the plan makes distributions pursuant to the close-out of the plan 

to distributees who are not missing (i.e., on or after the first day such a distribution is made, but no 

later than the last day such a distribution is made).

Benefit Transfer Amount means the single sum actuarial equivalent of the distributee’s accrued 

benefit, including the value of back payments owed, if applicable, as of the Benefit Determination Date

for a missing distributee that is transferred to PBGC.

Close-Out or Close Out with respect to a plan means the process of the final distribution or transfer of 

assets pursuant to the termination of the plan.

Commercial Locator Service means a business that holds itself out as a finder of lost persons for 

compensation using information from a database maintained by a consumer reporting agency (as 

defined in 15 U.S.C. section 1681a(f)). 

De Minimis means a benefit with a value, determined using methods and assumptions the plan used 

to determine lump sums, that does not exceed the amount under section 203(e)(1) of ERISA and 

section 411(a)(11)(A) of the Internal Revenue Code (Code) in effect as of the Benefit Determination 

Date (i.e., $7,000 if the Benefit Determination Date is January 1, 2024 or later, otherwise $5,000).

7

Diligent Search means the process provided in 29 CFR § 4050.404, for attempting to locate 

distributees. See Appendix 2 for a summary of that process.

Distributee means a participant or beneficiary entitled to a distribution under the plan pursuant to the 

close-out of the plan.

Missing Participants Filing means, Form MP-400 and any applicable schedules and attachments.

Missing Participants Interest Rate means, for each month, the applicable federal mid-term rate (as 

determined by the Secretary of the Treasury pursuant to section 1274(d)(1)(C)(ii) of the Code) for that 

month, compounded monthly.

Normal Retirement Date means the normal retirement date for a participant under the terms of the 

plan. 

Participant means a person who earned a pension benefit under a pension plan. 

Pay-Status or Pay Status means being in, or having a benefit that has started, before the Benefit 

Determination Date. A benefit that becomes payable to a participant at the participant’s Normal 

Retirement Date before the Benefit Determination Date but that is not in fact paid is not a Pay-Status 

benefit.

PBGC means the Pension Benefit Guaranty Corporation. 

7 In the case of a plan that does not specify lump sum assumptions, any assumptions that would be permitted 

under section 205(g) of ERISA or section 417(e) of the Code may be used for this purpose.
Appendix 1 — Defined Terms

Form MP-400 instructions Page 22

PBGC Missing Participant Assumptions means the actuarial assumptions used to determine the 

Benefit Transfer Amount for a missing distributee meeting certain criteria. See section titled

“Determining a Distributee’s Benefit Transfer Amount” for information about what these assumptions 

are and when they are used. See section 402 of PBGC’s Missing Participants Regulations (29 CFR Part 

4050) for a complete description of these assumptions.

Plan Sponsor means a sponsor as defined in section 4001(a)(10) of ERISA.

QDRO means a qualified domestic relations order as defined in section 206(d)(3) of ERISA and section

414(p) of the Code.

Unlocatable with respect to a missing distributee means that the plan does not know with reasonable 

certainty the distributee’s location upon close out of the plan (e.g., a notice from the plan is returned 

as undeliverable). Note that there is a requirement to do a Diligent Search in an effort to find these 

participants before reporting them as missing.

Unresponsive with respect to a missing distributee means that when the plan closes out the 

distributee either—

• Was subject to mandatory cash out under the plan’s terms and failed to submit the necessary 

paperwork providing instructions about how the payment should be made (e.g., by check or as a

direct rollover to an IRA), or

• Did not accept a lump sum payment (e.g., by not timely cashing a check).

See “Who Counts as Missing” in the Overview section for more information.

We or “us” refers to the Pension Benefit Guaranty Corporation.

You or “your” refers to the Plan Sponsor.
Appendix 2 — Diligent Search Requirement

Form MP-400 instructions Page 23

When a diligent search is (or is not) required

You must conduct a diligent search in an attempt to find Unlocatable distributees before reporting 

them as missing on close-out of the plan. For example, if the Notice of Intent to Terminate sent to a 

distributee is returned as undeliverable, you must do a Diligent Search in an attempt to find a current 

address. If the distributee is not located as a result of the Diligent Search, no further searching is 

required; the distributee may be reported as missing.

You do not have to do a Diligent Search with respect to distributees considered missing solely because 

they are Unresponsive. For example, if you have a current address for a distributee who, according to 

plan terms is subject to mandatory cash-out, but the distributee fails to return the necessary 

paperwork to facilitate the distribution, there is no need to do a Diligent Search.

Search methods

Plans may search for Unlocatable Missing Distributees however they like and, if successful, no 

additional searching is required. However, before reporting an Unlocatable distributee as missing, a 

Plan Sponsor must have failed to locate the distributee using the following Diligent Search procedures.

• If the Missing Distributee’s accrued monthly benefit is greater than $50, the plan must use a 

Commercial Locator Service to try to find the individual. 

• If the Missing Distributee’s accrued monthly benefit is $50 or less, to try to find the individual,

the plan may either:

– Use a Commercial Locator Service, or

– Do a “records search” (see below).

Regardless of the size of the benefit, if you use a Commercial Locator Service to try to find an 

individual and that individual is not located, no further searching is required. 

A records search means doing all of the following (to the extent reasonably feasible and affordable) in 

an attempt to locate the distributee:

• Using a free internet search such as a search engine, network database, public records database 

(such as those for licenses, mortgages, and real estate taxes) and a “social media” website; and 

• Searching:

– Plan records,

– Records of any other retirement or welfare plan of the plan sponsor in which the distributee 

participated, and 

– Records of the contributing plan sponsor that most recently employed the distributee (e.g., 

payroll records).

If a beneficiary is identified from any of the searches, you must attempt to contact the 

beneficiary.
Appendix 2 — Diligent Search Requirement

Form MP-400 instructions Page 24

As noted above, a records search is required only to the extent reasonably feasible and affordable. A 

records search would be unaffordable if the cost of searching (including the value of labor) is more 

than a reasonable fraction of the benefit owed. In no event would searching need to be pursued 

beyond the point where the cost of the search equals the value of the benefit. A records search would

be unfeasible if, as a practical matter, it is prevented (e.g., confidentiality considerations that prevent 

the disclosure of information).

Timing of Diligent Search

A Diligent Search for an Unlocatable distributee must be made within nine months before the Missing 

Participants Filing is submitted.
Appendix 3 — Accumulating Back Payments for Category 2 Calculations

Form MP-400 instructions Page 25

As explained in the “Determining a Distributee’s Benefit Transfer Amount” section, for Category 2 

calculations, the Benefit Transfer Amount includes the accumulated value of certain back payments if:

• The individual’s Normal Retirement Date is before the Benefit Determination Date, or

• The individual commenced benefits prior to losing contact with the plan.

This appendix provides information about which back payments are reflected in this calculation and 

the assumptions used to determine the accumulated value. The methodology differs slightly 

depending on which situations apply as shown below.

Missing Distributees with Normal Retirement Dates before the Benefit Determination Date

For a missing distributee whose Normal Retirement Date is before the Benefit Determination Date 

(and who, as of the Benefit Determination Date, has not received any benefits), the calculation 

represents the accumulated value (as of the Benefit Determination Date) of benefits the distributee

would have received had the distributee started receiving benefits on the distributee’s Normal 

Retirement Date8

. 

The calculation is done using the following assumptions:

• Form of payment — Single life annuity paid monthly.

• Interest rate for accumulating past “missed” payments — Missing Participants Interest Rate.

• Survival — Distributee is still alive at the Benefit Determination Date.

• Last “missed” payment — The month before the Benefit Determination Date.

An example of how this calculation is done and a historical listing of applicable interest rates is 

available on PBGC’s Missing Participants Program webpage.

Distributees Who Started Receiving Benefits before the Benefit Determination Date

For a missing distributee who went into pay status before the Benefit Determination Date, the 

calculation represents the accumulated value (as of the Benefit Determination Date) of benefits that 

person should have received, but didn’t, based on the commencement date and form of payment 

elected when the distributee first went into pay status.

This calculation is done using the following assumptions and information:

• Form of payment — Form elected when distributee went into pay status.

• Interest rate for accumulating past “missed” payments — Missing Participants Interest Rate.

• Survival — Distributee is still alive at the Benefit Determination Date.

• Last “missed” payment — The last payment due before the Benefit Determination Date.

8 In the event a non-pay-status missing participant accrued benefits after Normal Retirement Date, this 

calculation is done as if the distributee started receiving benefits on the date benefit accruals ceased.
Appendix 4 – Common filing errors

Form MP-400 instructions Page 26

Deceased Participants/Missing Beneficiaries

Background

As explained in the Overview section, we use the term “missing distributee” when referring to 

anyone covered by the program (i.e., a participant or a beneficiary). Thus, if the participant is 

deceased at the time the plan terminates, the missing distributee is the individual (or entity) 

entitled to that participant’s benefit (i.e., the beneficiary) and that beneficiary’s identifying 

information (e.g., name, Social Security number) is reported on Schedule A or B, whichever is 

applicable.

In addition, when the missing distributee is a beneficiary, plan sponsors are required to submit 

additional information in an attachment (e.g., information about the deceased participant). See 

instructions for Schedule B, line 2f.

Common filing errors

In situations where the missing distributee is a beneficiary, some filers:

• Fail to include the required attachment, and/or

• Mistakenly report the participant’s identifying information.

Be sure to report the beneficiary’s identifying information on Schedule A or B, whichever is 

applicable. If you know the participant is deceased, but are unsure who the beneficiary is, enter

“see attachment” in the space provided and include, on the required attachment, any information 

you think might be helpful in locating the beneficiary. Similarly, if there are multiple beneficiaries 

attached to the same benefit, enter “see attachment” in the space provided and provide the 

information in the attachment. 

Uncashed checks issued in conjunction with the plan’s termination

Background

As explained in the Overview section, one of the ways a participant is considered missing is if, when 

the plan closes out, the participant did not accept a lump sum payment, such as a check issued by the 

plan in conjunction with the plan’s termination. In situations where the plan is transferring the 

amount owed to a participant who is considered missing because they did not cash a distribution 

check that was sent in conjunction with the plan termination, the transfer amount must reflect the 

total value of the benefit without any reduction for tax withholding.

Common filing error

PBGC has received several filings where the amount transferred is net of tax withholding (e.g., the face 

value of an uncashed check). 
Appendix 5 — Paperwork Reduction Act Notice

Form MP-400 instructions Page 27

We need this information to facilitate the payment of benefits or the sharing of information as 

required under section 4050 of ERISA and 29 CFR part 4050. You are required to give us this 

information. Confidentiality is that provided by the Privacy Act and the Freedom of Information Act.

OMB has approved this collection of information under control number 1212-0069. An agency may 

not conduct or sponsor, and a person is not required to respond to, a collection of information unless 

it displays a currently valid OMB control number.

PBGC estimates that preparation and submission of a filing will on average take under an hour of inhouse plan time and $1,443 in contractor costs. These are estimates; the actual time and cost will vary 

depending on the circumstances of a given plan.

If you have comments concerning the accuracy of these burden estimates, or suggestions for making 

the forms or the filing process simpler, please send your comments to Pension Benefit Guaranty 

Corporation, Office of the General Counsel, Regulatory Affairs Division, 445 12th Street SW, 

Washington, DC 20024-2101.