MISSING PARTICIPANTS

FILING INSTRUCTIONS

Table of Contents Page

I. OVERVIEW 2

II. GENERAL INSTRUCTIONS FOR

MISSING PARTICIPANT FORMS 3

A. Who Must File 3

B. What to File and Pay 3

C. When to File and Pay 3

 1. In General 3

 2. Due Dates for Later Filings 3

 3. Filing Methods and Filing Date 4

 4. Requests for Deadline Extensions 5

D. Where to File and Pay 5

 1. Where to File 5

 2. Where to Pay 5

 3. Penalties and Interest 5

E. Forms and Instructions; Contacting Us 6

F. Recordkeeping Requirements 6

III. SPECIFIC INSTRUCTIONS FOR

MISSING PARTICIPANT FORMS 6

A. Schedule MP 6

	 	 1.	 Plan Identification Information	 6

 2. Missing Participant Information 6

 3. Amounts Due to PBGC 7

B. Attachment A 

 (Annuity Purchase Information) 7

C. Attachment B (Individual Information) 7

	 	 1.	 Plan Identification Information	 7

	 	 2.	 Identification of Missing Participant 	 7

 3. Amounts Due to PBGC 8

 4. Missing Participant Who is a Participant 

	 	 	 And Whose Benefit Was Not in Pay Status	10

	 	 5.	 Missing Participant Who is a Beneficiary

	 	 	 and Whose Benefit Was Not in Pay

Status 10

 6. Missing Participant Who Was in 

	 	 	 Pay Status 10

Table of Plan Benefit Forms	 12

Appendix A: Examples of Designated

	 	 	 	 Benefit Determinations	 13

THE FORMS AND INSTRUCTIONS IN THIS BOOKLET APPLY TO STANDARD AND DISTRESS 

TERMINATIONS WITH MISSING PARTICIPANTS. YOU WILL ALSO NEED THE STANDARD OR DISTRESS 

TERMINATION PACKAGE, AS APPLICABLE.

This package contains:

Schedule MP

Attachment A

Attachment B

Payment Voucher

Instructions

Paperwork Reduction 

Act Notice

PBGC needs the information required by Schedule MP 

(and applicable attachments) to administer the Missing 

Participants Program. Section 4050 of the Employee

Retirement Income Security Act of 1974 provides for the 

Missing Participants Program to assist plan administrators 

in closing out plans and to help participants and 

beneficiaries, who could not be located when plan benefits

were being distributed, to obtain their benefits. PBGC

will use the information to direct Missing Participants for

whom annuity contracts were purchased to the appropriate

insurance company; to locate and pay Missing Participants 

for whom benefits were paid to PBGC; and to monitor

and audit compliance. You are required to provide this 

information pursuant to section 4050 of ERISA and 29

CFR Part 4050. The information provided to PBGC may

be subject to disclosure under the Freedom of Information 

Act or protected from disclosure by the Privacy Act, as

applicable. 

This collection of information has been approved by the 

Office of Management and Budget (OMB) under control

number 1212-0036.An agency may not conduct orsponsor,

and a person is not required to respond to, a collection

of information unless it displays a currently valid OMB 

control number.

PBGC estimatesthat it will take an average of 1.21 hours of

the plan administrator’s time and cost the plan administrator 

$1,699 per plan to comply with standard termination

paperwork requirements, including requirements for

Missing Participants. (See PBGC’s Distress Termination 

Package for burden estimates for distress terminations.) 

These are estimates and the actual time will vary depending

on the circumstances of a given plan.

If you have comments concerning the accuracy of 

these estimates or suggestions for making the forms 

simpler, please send your comments to the Legislative

and Regulatory Department, Pension Benefit Guaranty

Corporation, 1200 K Street, NW, Washington, DC 20005-

4026.
2

Overview

I. OVERVIEW

PBGC has established a Missing Participants Program for single-employer defined benefit pension planssubject toTitle IV of

ERISA. This program helps terminating plans distribute Missing Participants’benefits and helps Missing Participantsreceive

their benefits. A Missing Participant is a participant or beneficiary (including a participant’s spouse or alternate payee) entitled 

to a distribution under a terminating plan whom, after a diligent

search, the plan administrator has not located as of the date the

plan administrator pays the individual’s designated benefit to

the PBGC (or distributesthe individual’s benefit by purchasing

an irrevocable commitment from an insurer). In the absence 

of proof of death, individuals not located are presumed living.

Note: You may use the PBGC’s Missing Participants Program 

for a participant or beneficiary only if you are unable to locate 

the person after a diligent search (see Step 1, below). The mere 

fact that a person fails to return an election form or cash a check 

does not mean the person is a “Missing Participant.” Unless 

a person is a “Missing Participant,” you must, in accordance 

with all applicable requirements under the Code and ERISA, 

distribute plan assets in satisfaction of all plan benefits by 

purchase of an irrevocable commitment from an insurer or by 

distributing benefits to the person in another permitted form. 

NOTE: The Pension Protection Act of 2006 (PPA 2006)

amended section 4050 of ERISAto expand the Missing Participants Program to cover multiemployer plans,small professional

service employer plans (25 or fewer active participants), and

individual account plans (such as 401(k) plans).The changes

will be effective after PBGC issues final regulationsimplementing the PPA change.

The instructions provided below do not reflect the changes

made by PPA. PBGC will issue new forms and instructions in

connection with the final regulations implementing the PPA

change.

In the following, the terms “you” and “plan administrator” 

are used interchangeably. 

You must follow specific steps in distributing the benefits

of Missing Participants on plan termination. These steps are 

briefly summarized below. Sections II and III below provide

detailed instructions.

Step 1: Diligent Search

	 Conduct a diligent search for all participants and beneficiaries whom you could not locate. “Diligent search” is

defined in 29 CFR § 4050.4. A diligent search must —

•	 Begin not more than 6 months before notices of intent 

to terminate are issued;

•	 Be carried on in such a manner that if the individual is 

found, distribution can reasonably be expected to be

made on or before the deemed distribution date; 

•	 Include inquiry of any plan beneficiaries (including

alternate payees) of the Missing Participant whose

names and addresses are known to the plan administrator; and

•	 Include use of a commercial locator service to search 

for the Missing Participant (without charge to the

Missing Participant or reduction of the Missing Participant’s plan benefit).

Step 2: Method(s) of Distribution

	 Determine for each Missing Participant whether you

will distribute the benefits of that Missing Participant by

purchasing an irrevocable commitment from an insurance company or by paying the value of the Missing 

Participant’s benefit to PBGC.

Step 3: Deemed Distribution Date

 Select a deemed distribution date and calculate the value 

of the Missing Participants’ benefits as of that date using

the rules in PBGC’s Missing Participants regulation (see

29 CFR §§ 4050.5 and 4050.12). The deemed distribution

date must be no later than the distribution deadline, including extensions, under 29 CFR § 4041.28(a), and no earlier

than the date when distributions have been completed for

all other participants and beneficiaries (including Missing

Participantsfor whom you provide annuities). (See section 

III.A. Part II.3.c., below.)

Note: If, late in the distribution period, you locate a 

participant or beneficiary or learn that a participant or 

beneficiary cannot be located, you may request an extension of the distribution deadline, if necessary. To request 

a deadline extension, see instructions in Section II.J of the 

Standard Termination Package or Section C of Appendix 

C of the Distress Termination Package.

Step 4: Forms and Payments

 Complete Schedule MP and the applicable attachment(s) 

and send them to PBGC with the Post-Distribution Certification. These forms must contain information required by 

PBGC to identify and locate Missing Participantsto whom

it will pay benefits, to compute and pay those benefits, and

to direct individualsfor whom the plan purchased annuities

to the appropriate insurance company.

If you are sending payment to PBGC for one or more 

Missing Participants, you may submit a check with your

Missing Participant Payment Voucher or arrange for a wire

transfer and indicate on your Missing Participant Payment 

Voucher the amount that has been transferred. See section 

II.D.2 for payment information. The filing deadline for

Schedule MP, for the Post-Distribution Certification, and
3

General Instructions

for payment of designated benefits to PBGC is 30 days

after the deemed distribution date. 

If you purchased annuities for all Missing Participants 

and are not paying designated benefits to PBGC, the

deadline for filing Schedule MP and the Post-Distribution

Certification is 30 days after the last distribution of assets

in satisfaction of plan benefits(through priority category 6

under section 4044 of ERISA and 29 CFR Part 4044).

Note: PBGC may assess a penalty for late filing of Schedule MP. However, PBGC will do so only to the extent the 

information is filed more than 90 days after the distribution 

deadline (including extensions) (see section II.H.1 of the 

Standard Termination Package or section C of Appendix C 

of the Distress Termination Package.) Also, PBGC will assess interest for late payment of amounts for Missing Participants only to the extent the payment is made more than 90 

days after that distribution deadline (including extensions).

This package contains (1) Missing Participant filing instructions, and (2) Schedule MP, including Attachment A (Annuity

Purchase Information), Attachment B (Individual Information

for Missing Participantsfor whom amounts are paid to PBGC),

and a Missing Participant Payment Voucher to submit with

payment to PBGC.

The specific rules for distributing benefits for Missing 

Participants are set forth in section 4050 of ERISA and in

PBGC’s regulation on Missing Participants (29 CFR Part 

4050), which are available on PBGC’s Web site, www.pbgc.

gov, along with Missing Participant forms and instructions.

Note: If, after paying a designated benefit to PBGC for 

a Missing Participant, you are contacted by that Missing 

Participant, please refer the individual to PBGC’s Customer Contact Center ((800) 400-7242) for payment of 

the individual’s benefit.

II. GENERAL INSTRUCTIONS FOR 

 MISSING PARTICIPANT FORMS

PBGC may assess penalties for incomplete filings. Therefore,

you should ensure that an appropriate response is provided for 

each item, as follows:

1. 	 If an item requests a numeric response, a number must be

entered.

2.	 If an item provides a box or boxes to be checked, a check

should be entered (written responses are not acceptable).

3. 	No additions or deletions may be made to the certifications

required to be signed by the plan administrator or enrolled 

actuary.

4. 	All information requested by an item must be provided,

e.g., Missing Participants’ full names; complete addresses

where requested.

5. 	 If requested information is not available, write “N/A” in the

space provided or next to the question.

PBGC will accept the original pre-printed forms, photocopies

of the forms, or downloaded forms. However, Schedule MP

must have an original signature. For this reason, Schedule MP

cannot be faxed or e-mailed to PBGC. See II.C.3. for filing

instructions for this form. 

A. Who Must File

If your plan is terminating in a standard termination (or in a 

distress termination in which the plan is sufficient for at least

guaranteed benefits and closes out in the private sector), you

must file Schedule MP with PBGC if you have one or more

Missing Participants. PBGC will apply this filing requirement to participants or beneficiaries who are eligible for a

distribution of residual assets but cannot be located, after a

diligent search, at the time residual assets are distributed. In

addition, this filing requirement will apply for a distribution pursuant to a PBGC audit of a plan termination where

individuals entitled to a distribution cannot be located 

after a diligent search. See section II.C.2. With regard to

distributions of residual assets or after an audit, a diligent

search is not required for an individual if an earlier diligent

search was done for the individual and the individual was not

found, i.e., the individual was determined to be a Missing

Participant.

B. What to File and Pay

You must file Schedule MP, including Attachment A (Annuity Purchase Information), Attachment B (Individual Information), or both, as applicable. File Attachment A if the

plan purchased an irrevocable commitment for one or more 

Missing Participants. File a separate Attachment B for each 

Missing Participant for whom amounts are due to PBGC.

You must send payment of the total of the amounts on the 

Attachment B(s) to PBGC, together with a Payment Voucher.

C. When to File and Pay

1. In General. The filing due date for the Schedule MP (including attachments) and payment of designated benefits

(including Payment Voucher) is the same as for the PostDistribution Certification.

2. Due Dates for Later Filings. In some cases, after you

have already filed the Post-Distribution Certification, you

may be required to file a Schedule MP(including applicable

attachment(s) and payment), or an amended Schedule MP

if a Schedule MP was previously filed. Where there are

one or more persons whom you cannot locate, after a

diligent search, at the time benefits must be distributed in

the following situations, the following due dates apply:
4

General Instructions

(a) Residual Assets. If residual assets remaining after 

the satisfaction of all plan benefits through priority

category 6 (under section 4044 of ERISA and 29

CFR Part 4044) are owed to one or more Missing Participants, you must submit a Schedule MP (including

AttachmentsAand Bs, as applicable) and any amounts

that will be paid to PBGC, no earlier than the date

when the Post-Distribution Certification is filed with

PBGC, and no later than the 30th day after the date

on which all residual assets have been distributed to

all participants and beneficiaries other than Missing

Participants.

Note: If you previously filed the Post-Distribution Certification and are using the Missing Participants Program to 

provide residual assets with respect to a person who cannot 

be located at the time residual assets are distributed, file 

only Schedule MP (with applicable attachment(s)) and, if 

appropriate, a Payment Voucher. Do not file a new PostDistribution Certification. (Form 501 or Form 602)

(b) PBGC Audit of Plan Termination. If, pursuant to an

audit of the plan termination, amounts are owed to

one or more participants or beneficiaries who are

Missing Participants, you mustsubmit a Schedule MP

(with applicable attachments) and any amounts that

will be paid to PBGC by the date specified by PBGC

in connection with the audit, unless PBGC grants an

extension.

3. Filing Methods and Filing Date. You may file Schedule MP (including attachments) and make payments to 

PBGC by hand, mail, or commercial delivery service.

In addition, in some circumstances, the attachments may

be filed electronically. Note: Schedule MP may not be 

faxed or e-mailed to PBGC because this form requires an 

original signature. 

The discussion below describes the rules for filings other

than electronic filings. For information on wire transfers,

see section D.2.(b). If you want to file attachments to

Schedule MP in electronic form, contact PBGC using the

contact information in part E, below. When you have 100

or more Missing Participants, PBGC strongly encourages

you to file the attachments to Schedule MP by submitting

a computer disk. Complete rules on filing methods and on

how PBGC determines your filing date are on PBGC’sWeb

site, www.pbgc.gov (click on “Resources” tab and select

“Law & Regulations” on left menu bar).

Your filing date will be the date you send your filing (the

“send date”), provided you meet certain requirements that

are summarized below. If you do not meet these requirements, your filing date is the date PBGC receives your

submission. (If you file your submission by hand, your

filing date is the date of receipt of your hand-delivered

submission at the proper address.) 

If PBGC receives your submission after 5:00 p.m. (Washington, D.C. time) on a business day, or anytime on a

weekend or Federal holiday, PBGC treats it as received

on the next business day. 

Filings by mail. If you file your submission using the

U.S. Postal Service, your filing date is the date you mail

your submission by the last collection of the day, provided that the submission: (1) meets the applicable postal 

requirements; (2) is properly addressed; and (3) is sent by 

First-Class Mail (or another class that is at least equivalent). 

If you mail the submission after the last collection of the 

day, or if there is no scheduled collection that day, your

filing date is the date of the next scheduled collection. If

you meet these requirements, PBGC makes the following

presumptions:

Legible postmark date. If your submission has a legible 

U.S. Postal Service postmark, PBGC presumes that the

postmark date is the filing date.

Legible private meter date. If your submission has a legible 

postmark made by a private postage meter (but no legible 

U.S. Postal Service postmark) and arrives at the proper 

address by the time reasonably expected, PBGC presumes

that the metered postmark date is your filing date. 

You may prove an earlier send date.

Filings using a commercial delivery service. If you 

file your submission using a commercial delivery service,

your filing date is the date you deposit your submission

by the last scheduled collection of the day for the type of 

delivery you use (such as two-day delivery or overnight

delivery) with the commercial delivery service, provided

that the submission meets the applicable requirements of 

the commercial delivery service and is properly addressed,

and the delivery service meets one of the requirements 

listed below. If you deposit it later than that last scheduled

collection of the day, or if there is no scheduled collection

that day, your filing date is the date of the next scheduled

collection. The delivery service must meet one of the following requirements:

Delivery within two days. It must be reasonable to expect 

your submission will arrive at the proper address by 5:00

p.m. on the second business day after the next scheduled 

collection; or

Designated private delivery service. You must use a 

“designated private delivery service” within the meaning

of § 7502(f) of the Code. PBGC’s Web site, www.pbgc.

gov, lists those designated private delivery services (at

the “Practitioners” page select “Contact Us” tab, “More

contact information for practitioners,” and then “Commercial delivery services”). You should make sure that

both the provider and the particular type of delivery (such 

as two-day delivery) are designated.
5

General Instructions

4. Requests for Deadline Extensions. PBGC may in 

its discretion extend a deadline for taking a required action 

to a later date. PBGC will grant such an extension where

it finds compelling reasons why it is not administratively

feasible for you (or other persons acting on your behalf) 

to take the action until the later date and the delay is brief. 

PBGC will consider (1) the length of the delay and (2)

whether ordinary business care and prudence in attempting

to meet the deadline was exercised.

Note: PBGC will not extend the following statutory deadlines: (1) that the Notice of Intent to Terminate (NOIT) be 

issued not less than 60 days before the proposed termination date, (2) that the Notice of Plan Benefits (NOPB) 

be issued by the time the plan administrator files the 

standard termination notice with PBGC, and (3) that the 

Post-Distribution Certification be filed with PBGC within 

30 days after the last distribution date. (Although PBGC 

may assess a penalty for late filing of a Post-Distribution 

Certification, it will do so only to the extent the PostDistribution Certification is filed more than 90 days after 

the distribution deadline (including extensions) described 

in section II.H.1. of the Standard Termination Package 

and section C of Appendix C of the Distress Termination 

Package.)

If you file a request for an extension with PBGC later than

the 15th day before the applicable deadline, you must include a justification for not filing the request earlier.

Requests for extensions must be in writing and —

Addressed to: 

Pension Benefit Guaranty Corporation

Standard Termination Compliance Division

Processing and Technical Assistance Branch

1200 K Street, NW 

Washington, DC 20005-4026

E-mailed to: standard@pbgc.gov; or

Faxed to: (202) 326-4001

D. Where to File and Pay

1. Where to File. File the Schedule MP (including any 

required attachments) with the Post-Distribution Certification. Send the forms to:

Pension Benefit Guaranty Corporation

Standard Termination Compliance Division

1200 K Street, NW

Washington, DC 20005-4026

2. Where to Pay.

(a) Checks.

Send payment for designated benefits and/or other amounts

with a completed Payment Voucher to the appropriate lockbox address below. Make the check payable to the Pension

Benefit Guaranty Corporation and write the plan’s EIN/PN

and PBGC Case Number on your check. Send one check 

for the plan, not separate checks for each participant.

Note: The amount you pay to the PBGC with this filing 

must equal the amount entered in column (1) of item 4c 

of Schedule MP (this is the same amount that should be 

entered in item 3a of the Missing Participant Payment 

Voucher). The amount entered in column (1) of item 4c of 

Schedule MP must equal the sum of all amounts entered 

in column (1) of item 3c of the Attachments B (Individual 

Information) submitted with this filing.

If you are using the U.S. Postal Service:

Pension Benefit Guaranty Corporation

P.O. Box 

6W/RXLV02

If you are using a delivery service other than the U.S. Postal 

Service:

3%*&0LVVLQJ3DUWLFLSDQWV%R[

86%DQN*RYHUQPHQW/RFNER[

&RQYHQWLRQ3OD]D

6/02&*/

6W/RXLV02

(b) Wire transfers. 

Send wire transfer to: 

:	

Account: 

Beneficiary:	PBGC

Payment ID line: (MP, the plan’s EIN/PN, and the standard termination case number)

	 Please use the following format:

“MP, EIN/PN:XX-XXXXXXX/XXX,CN:XXXXXXXX”

3. Penalties and Interest. If a plan administrator fails 

to provide any required information within the specified

time limit, PBGC may assess a penalty of up to $1,100 a

day for each day that the failure continues. However, it

will do so only to the extent the information is filed more

than 90 days after the distribution deadline (including

extensions) determined under 29 CFR § 4041.28(a) or

§ 4041.50, whichever applies, for closeout of a plan.Also,

PBGC will assess interest for late payment of amounts

for Missing Participants only to the extent the payment 

is made more than 90 days after the distribution deadline.

See 29 CFR § 4050.6(b) and PBGC’s Statement of Policy

on ERISA section 4071 penalties, 60 Fed. Reg. 36,837

(July 18, 1995).
6

Schedule MP

E. Forms and Instructions; Contacting Us

You may obtain forms and instructions from PBGC’s Web site 

at www.pbgc.gov.

If you have any questions about Missing Participants, standard

terminations, or distress terminations, or if you need copies

of this Missing Participant Package, the Standard Termination Package, or the Distress Termination Package, call the

toll-free telephone number at PBGC’s Customer Service 

Center for Plan Administrators and Pension Professionals (1-

800-736-2444). (TTY/TDD users may call the Federal relay

service toll-free at 1-800-877-8339 and ask to be connected to

1-800-736-2444.)

E-mail addresses:

	 Standard Terminations (standard@pbgc.gov) —

Questions about Missing Participants in a standard 

termination.

	 Distress Terminations (distress.term@pbgc.gov) —

Questions about Missing Participants in a distress 

termination.

Fax: (202) 326-4001

F. Recordkeeping Requirements

Each contributing sponsor and the plan administrator of a terminated plan must maintain all records necessary to demonstrate 

compliance with section 4041 of ERISAand 29 CFR Part 4041

for six years after the date the Post-Distribution Certification

is filed with PBGC. For rules on maintaining records electronically, see 29 CFR Part 4000, Subpart E (also available on

PBGC’s Web site, www.pbgc.gov at the “Practitioners” page

select “Code of Federal Regulations” under “Law, Regulations

& Informal Guidance”).

Note: If a contributing sponsor or the plan administrator 

maintains information in accordance with this requirement, 

the other(s) need not maintain that information.

For each Missing Participant, these records must include all

evidence of a diligent search and all underlying data, including worksheets prepared by or at the direction of the enrolled

actuary, used in determining the amount, form, and value of

the plan benefits.

Within 30 days after receipt of PBGC’s written request for

records or by a later date specified in the request, the contributing sponsor or plan administrator, as applicable, must make all

such records available to PBGC upon request for inspection and 

photocopying (or, for electronic records, inspection, electronic

copying, and printout) at the location where they are kept (or

another, mutually agreeable, location), or must submit copies

of the records to PBGC.

III. SPECIFIC INSTRUCTIONS

A. Schedule MP

If you previously filed one or more Schedule MPs for this 

plan, check the box immediately below “PART I.” If you 

checked the box, provide the date(s) of any filing(s). 

Note: If this filing is an amended Schedule MP, you must 

file an amended Form 501 (if you filed a standard termination) or an amended Form 602 (if you filed a distress termination that is sufficient for at least guaranteed benefits) 

unless you are using the Missing Participants Program 

to provide residual assets with respect to a person who 

cannot be located at the time residual assets are payable. 

See Note on p. 4. 

Part I. Plan Identification Information

1a Enter the complete name of the plan as it appears in the 

plan document.

1b-c 	Enter the 9-digit employer identification number (EIN)

assigned to the contributing sponsor by the Internal 

Revenue Service for income tax purposes and the 

3-digit plan number (PN) assigned by the plan sponsor.

1d Enter the PBGC case number.

Part II. Missing Participant Information

2a Enter the name and address (mailing or Internet) of commercial locator service(s) used. If more than one service 

was used, attach sheet with information.

3a-b	 Enter the number of Missing Participants for whom irrevocable commitments were purchased, and the number

of Missing Participantsfor whom amounts are being paid

to PBGC. Enter zero in 3a if no annuities were purchased

for Missing Participants, and zero in 3b if no amounts are

being paid to PBGC. Entries are required in both 3a and 

3b, as well as in both columns (1) and (2).

If this is your first submission of a Schedule MP, the

same numbers should be entered in columns (1) and (2),

and the numbers entered should be consistent with the

Missing Participants reported on the Attachments A and/

or B that are attached 

If this filing is an amended Schedule MP, Attachments 

A and/or B for only those Missing Participants for whom

you are reporting additional or revised information with

the amended filing should be attached. The numbers

entered in column (1) should be a count of only those 

Missing Participantsreported onAttachmentsAand/or B

that are attached. The entries in column (2) should be a 

count of all Missing Participants reported on Attachments 

Aand/or B that you have submitted to PBGC, in this filing

and all earlier filings.
7

Schedule MP

3c The deemed distribution date is (1) the distribution deadline (including extensions) or (2) if the plan administrator 

selects an earlier date that is no earlier than the date when

all distributions have been made under the plan except 

for distributionsto Missing Participants whose designated

benefits are paid to PBGC,such earlier date. The distribution deadline (including extensions) is described in section 

II.H.1 of the Standard Termination Package and section

C of Appendix C of the Distress Termination Package.

Note: If the only amounts you are distributing or have 

distributed to Missing Participants are residual assets or voluntary employee contributions i.e., you have 

never paid designated benefits to PBGC or purchased 

annuities for any Missing Participant in the plan, enter 

“00/00/0000” for the deemed distribution date.

Part III. Amounts Due to PBGC

4a-c The same instructions that applied to items 3a and 3b 

above apply to items 4a-4c (if the amount in any item 

is zero, enter zero; do not leave blank). As was done

for items 3a and 3b above, entries are required in both

columns (1) and (2), and what is entered in each column

depends on whether this is your first submission of a

Schedule MP, or an amended submission.

For items 4a (Total amount of designated benefits), 4b

(Total of other amounts due for Missing Participants) and 

4c (Total amount due to PBGC), the numbers entered in

column (1) should equal the sum of the amounts in items 

3a, 3b, and 3c, respectively, of allAttachments B (Missing

Participant Individual Information) submitted with this

filing. If this filing is your first submission of a Schedule

MP, the same numbers should be entered in columns (1)

and (2). If this is an amended filing, the numbers entered

in column (2) for items 4a, 4b, and 4c, should equal the

sum of the amounts in items 3a, 3b, and 3c, respectively,

of all Attachments B that you have submitted to PBGC,

in this filing and all earlier filings.

Part IV. Plan Administrator Certification 

Part IV should be completed and signed by the plan’s administrator.

Part V. Enrolled Actuary Certification 

If only an Attachment A is attached to the Schedule MP, i.e.,

all distributions to Missing Participants in this filing were by

the purchase of irrevocable commitments, Part V does not

need to be completed. If any benefits were paid to PBGC for

Missing Participants in this filing, Part V should be completed

and signed by an Enrolled Actuary.

B. Attachment A (Annuity Purchase Information)

File Attachment A (Annuity Purchase Information) with the

Schedule MP if the plan purchased an irrevocable commitment 

for one or more Missing Participants.

If you previously filed one or more Attachments A for this 

plan, check the box immediately below “PART I.” 

Part I. Plan Identification Information

The information entered in Part I should be the same as that 

entered in Part I of the Schedule MP.

Part II. Insurance Company Information

2a-d Enter name and address ofinsurer, and the name, telephone

number and e-mail of your contact at the insurer.

2e	 Enter the policy number with the insurer.

Part III. Annuitized Missing Participant Information

For eachMissing Participant listed in PartIII, enterthe full name,

SocialSecurityNumber,anddateofbirthoftheMissingParticipant

and,ifapplicable,oftheMissingParticipant’sspouseorbeneficiary.

Also enter the certificate number for the Missing Participant’s

annuity.

For the Missing Participant’s Monthly Benefit, enter the monthly benefit (in the normal form payable under plan provisions)

payable at the Missing Participant’s normal retirement age. The 

normal form is the form in which the benefit is typically paid

paid under plan provisions (generally a single-life or joint-life 

annuity). If the Missing Participant is an alternate payee or other 

beneficiary, enter the monthly benefit amount payable at the

earliest date the alternate payee or other beneficiary may begin

receiving benefits. If the Missing Participant was in pay status,

enter the monthly benefit amount that was in pay status.

C. Attachment B (Missing Participant Individual Information)

File an Attachment B (Missing Participant Individual Information) with the Schedule MP for each Missing Participant for

whom an amount is due to PBGC. On eachAttachment B, enter

the sequence number of the attachment in terms of the total 

number of Attachments B that are submitted with this filing.

Part I. Plan Identification Information

The information entered in Part I should be the same as that 

entered in Part I of the Schedule MP.

Part II. Identification of Missing Participant 

If you previously filed one or more Attachments B for this 

individual, check the box immediately below “PART II.”
8

Schedule MP

2a-g 	Enter the requested identification information for the

Missing Participant. 

Part III. Amounts Due to PBGC

Note: Where amounts are requested for items 3a-3c, if the 

amount in any item is zero, enter zero; do not leave blank. 

As was done for items 4a-4c on the Schedule MP, entries 

are required in both columns (1) and (2). What is entered 

in each column depends on whether this is your first submission of an Attachment B for this individual, or if you 

previously filed an Attachment B for this individual.

If this is your first submission of an Attachment B for 

this individual, the same amounts should be entered in

columns (1) and (2) for items 3a-3c. 

If you previously filed an Attachment B for this individual, the responses entered in column (1) for items 3a-3c 

should reflect only the revised or additional information

that you are reporting for thisindividual in this filing. The

entries in column (2) should reflect the responses of all

Attachments B that you have submitted to PBGC, in this

filing and all earlier filings.

3 A. Category of designated benefit (see 29 CFR § 4050.5)

Determine the category of the Missing Participant’s designated benefit from the following list:

(1) Mandatory lump sum. The terms of the plan require an 

automatic cash out of this Missing Participant. The mandatory lump sum amount must be no greater than the plan’s 

cash out limit for de minimis benefit amounts, which may

not exceed the dollar limit under § 411(a)(11) of the Code

(currently $5,000). This category must not be checked if 

the amount is greater than the plan’s cash out limit.

(2) De minimis lump sum. The terms of the plan do not 

require an automatic cash out of this Missing Participant,

the amount is $5,000 or less when calculated under B.(2)

below, and the benefit was not in pay status as of the

deemed distribution date. This category must not be 

checked if the amount exceeds $5000.

(3) No lump sum. The terms of the plan require that only 

an annuity may be paid for this Missing Participant. 

(4) Elective lump sum. The benefit of this Missing Participant is not described in the first three categories.

Note: If the designated benefit category includes any 

amount attributable to mandatory employee contributions, check the designated benefit category applicable 

to the whole accrued benefit - do not check category 

4 (Elective lump sum) merely because the participant 

may choose to withdraw mandatory employee contributions in a lump sum.

B. Amount of designated benefit (see 29 CFR 

§§ 4050.5 and 4050.12(c))

After determining the category of designated benefit for

the Missing Participant under A., above, calculate the

amount of the designated benefit using the applicable

calculation instructions below for that category. 

(1) Mandatory lump sum. The designated benefit amount

is the amount that the plan would have distributed to this

Missing Participant as of the deemed distribution date. 

The amount must be no greater than the plan’s cash 

out limit, which must not exceed the dollar limit under

§ 411(a)(11) of the Code (currently $5,000). 

(2) De minimis lump sum. The designated benefit amount

is the lump sum amount calculated as of the deemed 

distribution date using PBGC “Missing participant lump

sum assumptions” and the “most valuable benefit” for a

Missing Participant who is not in pay status. “Missing

participant lump sum assumptions” and “most valuable

benefit” are defined in C., below. As with (1), the amount

entered must not be more than $5,000.

(3) No lump sum. The designated benefit amount is the

actuarial present value of the Missing Participant’s benefit as of the deemed distribution date calculated using

PBGC “Missing participant annuity assumptions” and

the “most valuable benefit.” “Missing participant annuity

assumptions” and “most valuable benefit” are defined in

C., below.

(4) Elective lump sum. The designated benefit amount

is the greater of the amounts determined under B.(1),

Mandatory lump sum, or B.(3), No lump sum. 

C. Definitions for calculation of designated benefit

(see 29 CFR §§ 4050.2 and 4050.5(b)(1))

(1) Missing participant annuity assumptions.

“Missing participant annuity assumptions” meansthe

interest rate assumptions and actuarial methods for 

valuing benefits under 29 CFR § 4044.52 applied--

(a) as if the deemed distribution date were the

termination date;

(b) using mortality rates that are a fixed blend

of 50 percent of the healthy male mortality rates

in § 4044.53(c)(1) and 50 percent of the healthy

female mortality rates in 29 CFR § 4044.53(c)

(2); 

(c) without using the expected retirement age

assumptions in 29 CFR §§ 4044.55 through

4044.57;

(d) without making the adjustment for expenses

provided for in 29 CFR § 4044.52(d); and

(e) by adding $300, as an adjustment (loading)

for expenses, if the missing participant’s designated benefit without this adjustment is greater

than $5,000.
9

Schedule MP

(2) Missing participant lump sum assumptions.

“Missing participant lump sum assumptions” means

the interest rate and mortality assumptions and actuarial methods for determining the lump sum value of 

a benefit under 29 CFR § 4022.7(d), applied--

(a) as if the deemed distribution date were the

termination date; and 

(b) without using the expected retirement age

assumptions in 29 CFR §§ 4044.55 through

4044.57.

(3) Most valuable benefit.

(a) Benefit in pay status - For a missing participant whose benefit is in pay status as of the

deemed distribution date, the most valuable

benefit is the pay status benefit.

(b) Benefit not in pay status - For a missing participant whose benefit is not in pay status as of

the deemed distribution date, the most valuable

benefit isthe benefit payable at the age on or after

the deemed distribution date (beginning with the

participant’s earliest early retirement age and 

ending with the participant’s normal retirement

age) for which the present value as of the deemed

distribution date is the greatest. The present value 

as of the deemed distribution date with respect to

any age is determined by multiplying: 

(i) the monthly (or other periodic) benefit payable under the plan; by 

(ii) the present value (determined as of the 

deemed distribution date using the missing participant annuity assumptions) of a $1 monthly 

(or other periodic) annuity beginning at the applicable age. 

Note: See Appendix A for examples of the designated 

benefit categories and calculations of the designated 

benefit amount.

Pages 2 and 3 of Attachment B: Enter the Missing Participant’s Social Security Number at the top of each page 

in the space provided.

3a Enter amount of designated benefits.

 Mandatory employee contributions: Is any part of the 

Missing Participant’s designated benefit amount attributable to mandatory employee contributions? If “Yes,”

complete (1)-(3) below:

(1) Mandatory employee contributions that fund a portion of the Missing Participant’s accrued benefit under

the plan,

 (2) Interest credited on those contributions to the deemed 

distribution date (see 29 CFR § 4050.12(c)(1)).

 (3) The total of (1) and (2).

Note: The designated benefit amount reported in item 3a 

must include, and be no less than, the amount of mandatory employee contributions plus interest to the deemed 

distribution date. The amount entered in item 3a must 

not be less than the amount in 3a(3). 

Missed benefit payments: In determining the amount of 

designated benefits, for any Missing Participant who was

in pay status at the deemed distribution date (see item 

6 below), the designated benefit amount must include

payments that were due before the deemed distribution

date but that were not made, with interest through the

deemed distribution date. That is, the amount entered

in 3a must include the amount entered in the last line of 

item 6a below. 

3b “Other amounts due” are (1) voluntary employee

contributions (and earnings thereon) as defined in 

29 CFR § 4050.12(c)(2)(i) and (ii); and (2) residual assets,

as determined under 29 CFR § 4050.12(d). If no voluntary

employee contributions or residual assets are due, enter

zero; do not leave blank.

 (1) Voluntary employee contributions and earnings 

(a) Voluntary employee contributions held in a separate account.

(b) Earnings credited on contributions in (a) to the 

date sent to PBGC.

(c) Total of (a) and (b).

(d) If the amount entered in (c) is not zero, enter the

date voluntary contributions sent to PBGC (see 29 

CFR § 4050.12(c)(2)(i) and (ii)).

 (2) Residual assets and earnings

(a) The amount, if any, of residual assets due to PBGC

based on a Missing Participant’s share of residual assets (in accordance with section 4044(d) of ERISA).

(b) Earnings on residual assets to the date you pay 

PBGC (see 29 CFR § 4050.12(d)).

(c) Total of (a) and (b).

(d) If the amount entered in (c) is not zero, enter the

date residual assets sent to PBGC.

(3) Total other amounts, if any, due to PBGC (line (1)(c)

+ line (2)(c))

3c Total amount due to PBGC (line 3a + line 3b(3))
10

Note: You must pay the total amount due for the Missing 

Participant to PBGC, without any reduction for the 20% 

tax withholding, even if 20% tax withholding has already 

been paid to the Internal Revenue Service for the benefit. 

Note: Complete item 4, item 5 or item 6 below (complete only one):

For a Missing Participant who is a participant and 

whose benefit was not in pay status as of the deemed

distribution date → Complete item 4

For a Missing Participant who is a beneficiary (including a spouse or alternate payee) and whose benefit was

not in pay status as of the deemed distribution date →

Complete item 5

For a Missing Participant whose benefit was in pay

status as of the deemed distribution date → Complete 

item 6

Note: A Missing Participant’s benefit is in pay status 

as of the deemed distribution date if, as of that date, 

the plan administrator has made or (except for administrative delay or a waiting period) would have made 

one or more

benefit payments. In addition, the benefit of a Missing Participant who is a beneficiary is considered to 

be in pay status if (1) the participant from whom the 

beneficiary’s benefit was derived went into pay status 

on or before the deemed distribution date or (2) payments to the beneficiary have commenced or would 

have commenced automatically without an election 

on or before that date.

In addition, if the Missing Participant is an alternate 

payee under a QDRO that required benefits to commence concurrent with the participant’s benefits, the 

benefit is in pay status if the participant was in pay 

status as of the

deemed distribution date. If the Missing Participant is 

an alternate payee who is entitled to commence benefits upon his or her own election, the benefit is in pay 

status if, as of the deemed distribution date, the plan 

administrator has made or (except for administrative 

delay or a waiting period) would have made one or 

more benefit payments.

4 Missing Participant Who is a Participant and Whose 

Benefit Was Not in Pay Status

Complete this item only if the Missing Participant is a 

participant whose benefit was not in pay status as of the

deemed distribution date.

4a Enter the participant’s earliest retirement date (or the 

deemed distribution date, if later). 

4b	 If applicable, enter the participant’s last-known spouse’s

name and Social Security Number; otherwise enter

“N/A.”

If you checked category 1 (Mandatory Lump Sum) in item 

3.A (Category of Designated Benefit) above, do not

complete 4c-4e; go to item 7.

4c	 If applicable, check whether the participant’slast-known

spouse consented to the participant’s waiver of the plan’s

QPSA. If “Yes” is checked, attach a copy of the waiver.

4d	 If applicable, enter the participant’s last-known spouse’s

earliest possible QPSA annuity starting date under the 

plan (or the deemed distribution date, if later). Enter the

deemed distribution date if the QPSA is payable immediately upon the participant’s death.

4e 	 Enter Codes from the Table of Plan Benefit Forms on

page 11 which describes the automatic annuity format

that would be payable with respect to the participant.

Regardless of the participant’s last-known marital 

status, provide a Code for the automatic annuity form 

for a married participant, 4e(1), and for an unmarried

participant, 4e(2).

If you entered Codes 2 – 6, or 10, provide the information requested for that Code (if Code 10 entered, describe

the form). 

5 Missing Participant Who Is a Beneficiary (including 

a participant’s spouse or alternate payee) and Whose 

Benefit Was Not in Pay Status

Complete this item only if the Missing Participant is a 

beneficiary, and the beneficiary’s benefit was not in pay 

status as of the deemed distribution date. 

5a 	 Enter a code from the Table of Plan Benefit Forms on

page 11 that describes the form of benefit to which the

beneficiary is entitled.

	 If you entered Code 2 -- 6, or 10, provide the information

requested for that Code (if Code 10 entered, describe the

form).

5b	 Enter the earliest date the beneficiary could commence

receiving benefits (or the deemed distribution date, if

later). 

6 Missing Participant Who Was in Pay Status

	 Complete thisitem only if the Missing Participant wasin

Schedule MP
11

pay status as of the deemed distribution date. 

6a 	 Enter a Code from the Table of Plan Benefit Forms on

page 11 that describes the form of benefit that was in

pay status. If you entered Code 2 -- 8, or 10, provide the

information requested for that Code (if Code 10 entered,

describe the form). In addition, provide, as applicable,

the following information:

•	 the date if tbe first missed payment:

•	 the amount of the first missed payment;

•	 the plan interest rate for missed payments; and 

•	 paymentsthat were due before the deemed distribution

date but that were not made, with interest through the

deemed distribution date.

6b	 If available, the full name(s) of the Missing Participant’s

beneficiaries. Attach a copy of the beneficiary designation

form, if available.

 

7 Enter check marks for all documents which are 

attached.

Schedule MP
12

Table of Plan Benefit Forms

Benefit 

Form Code Benefit Form Applicable to Missing Participant

1 Life annuity

2 Annuity certain

3 Annuity certain and continuous

4 Temporary life annuity

5 Joint and survivor annuity (contingent basis) thereafter

6 Annuity certain and joint and survivor (contingent basis) thereafter

7 Single life cash refund annuity

8 Installment refund annuity

9 Single sum

	 10	 Other benefit form - Use the space provided on Attachment B to describe the benefit form that is payable with respect to the Missing Participant. 	 	 

 

Include, as applicable:

•	 the percentage of the Missing Participant’s monthly benefit amount that is payable to each

beneficiary upon the Missing Participant’s death,

•	 the period during which the Missing Participant’s benefit is payable,

•	 the period during which each beneficiary’s benefit is payable, and

•	 any other provisions that distinguish the benefit form. For example, in the case of a step-down

benefit, state when and by how much the benefit is reduced.

Table of Plan Benefit Forms
13

Appendix A

APPENDIX A - Examples of Designated Benefit Determinations

Examples of Designated Benefit Determinationsfor Missing Participants under § 4050.5 in plans with deemed distribution dates

on and after February 27, 2007. The calculation of the designated benefit is illustrated by the following examples:

Example 1.a. - $5,000 cash out limit. Plan A provides that any participant whose benefit has a value at distribution of $5,000 

or less will be paid a lump sum, and that no other lump sums will be paid. P, Q, and R are missing participants. 

(1) As of the deemed distribution date, the value of P’s benefit is $4,000 under Plan A’s assumptions. Under § 4050.5(a)(1),

the plan administrator pays PBGC $4,000 as P’s designated benefit.

(2) As of the deemed distribution date, the value of Q’s benefit is $5,200 under Plan A’s assumptions and $4,700 based

on PBGC’s missing participant lump sum assumptions and the most valuable benefit. Under § 4050.5(a)(2), the plan

administrator pays PBGC $4,700 as Q’s designated benefit.

(3) As of the deemed distribution date, the value of R’s benefit is $5,500 under Plan A’s assumptions, $5,100 based on

PBGC’s missing participant lump sum assumptions and the most valuable benefit, and $5,400 based on PBGC’s missing

participant annuity assumptions (which includes the $300 loading) and the most valuable benefit. Under § 4050.5(a)(3),

the plan administrator pays PBGC $5,400 as R’s designated benefit.

Example 1.b. - $3,500 cash out limit. Plan A provides that any participant whose benefit has a value at distribution of $3,500 

or less will be paid a lump sum, and that no other lump sums will be paid. P, Q, and R are missing participants. 

(1) As of the deemed distribution date, the value of P’s benefit is $3,000 under Plan A’s assumptions. Under § 4050.5(a)(1),

the plan administrator pays PBGC $3,000 as P’s designated benefit.

(2) As of the deemed distribution date, the value of Q’s benefit is $3,600 under Plan A’s assumptions and $4,700 based

on PBGC’s missing participant lump sum assumptions and the most valuable benefit. Under § 4050.5(a)(2), the plan

administrator pays PBGC $4,700 as Q’s designated benefit.

(3) As of the deemed distribution date, the value of R’s benefit is $3,600 under Plan A’s assumptions, $5,100 based on

PBGC’s missing participant lump sum assumptions and the most valuable benefit, and $4,950 based on PBGC’s missing participant annuity assumptions (which does not include the $300 loading) and the most valuable benefit. Under

§ 4050.5(a)(3), the plan administrator pays PBGC $4,950 as R’s designated benefit. 

Example 2 - Annuity assumptions. Plan B provides for a normal retirement age of 65 and permits early commencement of benefits at any age between 60 and 65, with benefits reduced by 5 percent for each year before age 65 that the benefit begins. The

qualified joint and 50 percent survivor annuity payable under the terms of the plan requires in all cases a 16 percent reduction

in the benefit otherwise payable. The plan does not provide for elective lump sums. 

(1) M is a missing participant who separated from service under Plan B with a deferred vested benefit. M is age 50 at the

deemed distribution date, which is in May 2007, and has a normal retirement benefit of $1,000 per month payable at age

65 in the form of a single life annuity. M’s benefit as of the deemed distribution date has a value greater than $5,000 using either plan assumptions or PBGC’s missing participant lump sum assumptions. Accordingly, M’s designated benefit

is to be determined under § 4050.5(a)(3).

(2) For purposes of determining M’s designated benefit, M is assumed to be married to a spouse who is also age 50 on the

deemed distribution date. M’s monthly benefit in the form of the qualified joint and survivor annuity under the plan

varies from $840 at age 65 (the normal retirement age) ($1,000 x (1-0.16)) to $630 at age 60 (the earliest retirement

age) ($1,000 x (1-(5 x 0.05)) x (1-0.16)).

(3) Under § 4050.5(a)(3), M’s benefit is to be valued using PBGC’s missing participant annuity assumptions. The select

and ultimate interest rates on Plan B’s deemed distribution date are 5.20 percent for the first 20 years and 4.87 percent

thereafter. Using these rates and the blended mortality table described in paragraph (2) of the definition of “missing
14

participant annuity assumptions” in § 4050.2, the plan administrator determines that the benefit commencing at age

60 is the most valuable benefit (i.e., the benefit at age 60 is more valuable than the benefit at ages 61, 62, 63, 64 or

65). The present value as of the deemed distribution date of each dollar of annual benefit (payable monthly as a joint

and 50 percent survivor annuity) is $8.4632 if the benefit begins at age 60. (Because a new spouse may succeed to the

survivor benefit, the mortality of the spouse during the deferral period is ignored.) Thus, without adjustment (loading)

for expenses, the value of the benefit beginning at age 60 is $63,982 (12 x $630 x 8.4632). The designated benefit is

equal to this value plus an expense adjustment of $300, or a total of $64,282. 

Appendix A