Federal 

Pension Insurance 

Guide for Small Business
Table of Contents 

Introduction 1

I Overview 2

PBGC-insured plans 3

PBGC’s role 3

Guaranteed benefits 4

Filing and issuance rules 5

II Premiums to be Paid to PBGC 7

Types and amounts of premiums to be paid . . . . . . . . . . . . . . . . 7

General premium filing rules 9

Special premium filing rules . . . . . . . . . . . . . . . . . . . . . . .10

III Disclosure to Participants 11

Disclosure of funding status . . . . . . . . . . . . . . . . . . . . . . .11

Disclosure of termination information 11

IV Reporting Business and Plan Events to PBGC 12

Reportable events 12

Waivers and extensions of reporting requirements 13

Reportable events most likely to be of concern to small businesses 13

V Plan Terminations 15

Standard terminations 15

Distress terminations . . . . . . . . . . . . . . . . . . . . . . . . . .18

VI Missing Participants Program 20

How the program works 21

Pension Search Directory 21

VII PBGC Penalties 22

Information penalties 22

Premium penalties . . . . . . . . . . . . . . . . . . . . . . . . . . .22

Penalty waivers 23

VIII The Law, Pertinent Regulations, and Other Guidance 24
INTRODUCTION | 1

Introduction

If you sponsor or administer a defined benefit pension plan, it is probably covered by 

the federal pension insurance program administered by the Pension Benefit Guaranty 

Corporation (“PBGC”). PBGC protects the pensions of your workers up to certain 

limits set by federal pension law if your plan terminates without sufficient money to 

pay all benefits. For your part, each year you pay an insurance premium to PBGC 

and, when required, you provide certain information. PBGC prepared this Guide to 

help you and your professional advisors understand PBGC requirements.

This Guide is an aid but it does not replace the laws and regulations that contain the 

legal requirements relating to pension plans. For current information on laws, 

regulations, forms and instructions, and other guidance, visit PBGC’s Web site, 

www.pbgc.gov. A summary of the most applicable laws, regulations and other 

guidance can be found in Chapter VIII. The Law, Pertinent Regulations and 

Other Guidance.

PBGC continues to develop regulations and other guidance to implement the Pension Protection Act of 2006. PBGC will post updates to this Guide on its Web site 

as necessary. 

The U.S. Department of Labor’s Employee Benefits Security Administration 

(“EBSA”) and the Internal Revenue Service (“IRS”) administer other legal 

requirements that apply to pension plans. To learn more, visit their Web sites, 

www.dol.gov/ebsa (EBSA) and www.irs.gov (IRS).

To comment on or ask a question about this Guide, please contact:

Pension Benefit Guaranty Corporation

Practitioner Contact Center 

1-800-736-2444; Local: 202-326-4242
2 | Federal Pension Insurance Guide for Small Business

I Overview

PBGC protects the pensions of about 

44 million working men and women 

in about 29,000 private defined benefit 

pension plans. These pension plans 

provide a specified periodic benefit 

(usually monthly) at retirement, 

generally based on salary or a stated 

dollar amount, age, and years of 

service. PBGC guarantees these 

benefits subject to limits set by the 

Employee Retirement Income 

Security Act (“ERISA”), which established PBGC as a federal corporation 

in 1974. PBGC operates under its 

Board of Directors, which consists 

of the Secretaries of Labor (Chair), 

Commerce, and Treasury. A Director appointed by the President and 

confirmed by the Senate administers 

PBGC’s day-to-day operations. 

PBGC receives no funds from general 

tax revenues. Operations are financed 

by insurance premiums set by Congress 

and paid by defined benefit plans and the 

employers that sponsor them. PBGC 

also finances its operations from assets 

received from pension plans that PBGC 

has taken over as trustee (usually due to 

employer bankruptcies), any recoveries 

PBGC has obtained from those bankrupt employers to cover plan underfunding, and investment returns on its assets. 

PBGC insures both single-employer

and multiemployer defined benefit 

plans. A single-employer plan (which 

may be collectively bargained) provides 

benefits for workers of one employer or 

to workers of several unrelated employers. Multiemployer plans are collectively bargained plans involving two or more 

unrelated employers. This Guide covers 

only single-employer plans. 

PBGC does not insure defined contribution plans, under which contributions 

are made by or on behalf of employees 

into individual employee accounts with 

no promise as to the amount of payouts. 

Defined contribution plans include 

401(k) plans, profit-sharing plans, 

money-purchase plans, and employee 

stock ownership plans (ESOPs). 

Go to the Practitioners page on 

www.pbgc.gov to learn about PBGC’s 

premium filings, plan terminations, 

reporting requirements, interest rates, 

mortality tables, laws, regulations, and 

informal guidance. Information includes 

technical updates, disaster relief 

announcements, FAQs, Opinion Letters, 

and more. You may also view and download PBGC forms and instructions.
OVERVIEW | 3

PBGC-insured plans

General. PBGC covers most tax-qualified defined benefit plans, and insures 

such plans up to a guaranteed maximum 

benefit set by law and adjusted yearly.

Exceptions. There are a number of 

types of defined benefit pension plans 

that are not covered by PBGC. Several 

of these may have particular relevance 

to small businesses. 

♦ Plans established and maintained 

exclusively for substantial owners are 

not insured. Generally, a substantial 

owner is an individual who, at any 

time during a 60-month period, owns 

the entire interest in an unincorporated business or is a partner or 

shareholder who owns (directly or 

indirectly) 10 percent or more of a 

partnership or corporation. 

♦ Plans of professional service 

employers that have always had 25 

or fewer active participants in their 

plans are not insured. Professional 

service employers are firms owned or 

controlled by professional individuals 

who principally provide professional 

services. “Professional individuals” 

include physicians, dentists, chiropractors, osteopaths, optometrists, 

other licensed practitioners of the 

healing arts, lawyers, public accountants, public engineers, architects, 

draftspersons, actuaries, psychologists, social or physical scientists, and 

performing artists.

♦ Unfunded plans maintained primarily to provide deferred compensation 

for a select group of management or 

highly compensated employees are 

not insured. 

If you have a PBGC-covered plan you 

are required to pay premiums to PBGC. 

If you are unsure whether your plan is 

covered, you should request a coverage 

determination. Information on how 

to do this and a detailed discussion of 

premiums can be found in Chapter II. 

Premiums to be Paid to PBGC. 

However, if a plan is not covered by 

PBGC, paying premiums will not 

cause it to be covered. 

If you have a covered plan, you also are 

required to report to PBGC certain 

events that may signal problems with 

your plan or business. Information 

on reportable events and reporting 

requirements can be found in 

Chapter IV. Reporting Business and 

Plan Events to PBGC. 

PBGC-covered plans may voluntarily 

terminate through either a standard 

termination or a distress termination. 

Information on voluntary terminations may be found in Chapter V. Plan 

Terminations. Information on required 

disclosure of information related to 

underfunded terminations can be 

found in Chapter III. Disclosure 

to Participants. 

PBGC’s role

Under certain circumstances, PBGC 

may take action on its own to terminate 

a plan. Most terminations initiated by 

PBGC occur when PBGC determines 

that plan termination is needed to protect the interests of plan participants or 

of the PBGC insurance program. PBGC 

can terminate a plan if, for example, a 

plan will be unable to pay benefits when 

due. PBGC also must approve 

any termination initiated by the plan 
4 | Federal Pension Insurance Guide for Small Business

sponsor, whether standard or distress. 

Upon termination, all further benefit 

accruals, vesting, and employer administrative responsibilities for the pension 

plan cease and the employer and the 

employer’s controlled group members 

become liable to PBGC for unfunded 

benefit liabilities. If a terminating plan 

cannot pay all plan benefits and it has 

unfunded guaranteed benefits, PBGC 

generally becomes trustee of the plan 

with responsibility for benefit payments 

and collecting amounts owed the plan.

As trustee, PBGC uses both its own and 

the plan’s funds to pay the plan’s participants their benefits up to the legal limits 

under Title IV of ERISA. Most participants in a plan taken over by PBGC 

receive their full plan benefit. However, 

some participants receive less because 

their plan benefit exceeds the statutory 

guarantee limits and the plan’s assets are 

insufficient to pay plan benefits. PBGC 

offers participants a number of annuity 

options for their benefit but generally 

pays benefits in a lump sum only if the 

total value of a participant’s benefit is 

$5,000 or less. 

As trustee for more than 4,000 terminated, underfunded pension plans, 

PBGC is responsible for paying retirement benefits to more than one million 

people who either currently receive their 

pensions from PBGC or will receive 

their benefits when they become eligible 

for retirement. 

Guaranteed benefits

Pursuant to ERISA section 4022 and 

PBGC’s regulations at 29 CFR Part 

4022, PBGC guarantees the payment of 

pension benefits up to a certain dollar amount, which is adjusted annually 

based on changes in the Social Security 

contribution and benefit base. Generally, the guaranteed amount is fixed as of 

the date of plan termination. However, 

effective for bankruptcy filing dates on 

or after September 26, 2006, if a plan 

terminates while its contributing 

sponsor is in bankruptcy, the guaranteed 

amount is fixed on the bankruptcy filing 

date rather than the termination date. 

For plans terminating in 2009 or 2010, 

the maximum guaranteed amount is 

$54,000 yearly, or $4,500 per month, 

for a straight-life annuity beginning at 

age 65. The maximum is less if the 

benefit begins before age 65 or is paid 

in a form other than for the participant’s 

life alone, such as a form that provides 

survivor benefits.

PBGC Maximum 

Monthly Guarantees 

(for a plan terminated in 2009 or 2010)

Age 65 Age 62 Age 60 Age 55

$4,500 $3,555 $2,925 $2,025

PBGC guarantees payment of most pension benefits, if they are vested and the 

participant has met all of the requirements for the benefit by the time the 

plan is terminated (or by the bankruptcy 

filing date, if applicable). In addition to 

normal retirement benefits, guaranteed 

benefits can include early retirement 

benefits, disability benefits, and certain 

survivor benefits. 

PBGC’s guarantee does not cover 

non-pension benefits such as health 

insurance, life insurance, certain death 

benefits, vacation pay, or severance pay. 

PBGC also does not guarantee certain 

early retirement payments (such as 

supplemental benefits that stop when a 
OVERVIEW | 5

participant becomes eligible for 

Social Security) that result in an early 

the monthly amount the participant 

would receive at the plan’s normal 

retirement age.

In addition to the maximum dollar 

limit on PBGC’s guarantee, the law has 

may be only partially covered by PBGC’s 

guarantee if they result from plan provi-

-

plant shutdowns or other unpredictable 

begins on the date of the event (effective for events after July 26, 2005). 

Additional limits apply to a substantial 

(>10%) owner who is a participant in a 

terminating plan for which a termination

is initiated before January 1, 2006. For 

terminations initiated on or after January 

1, 2006, the additional limits apply only 

to majority (50%) owners. 

paid by PBGC to the extent the plan 

when it terminates or from PBGC’s 

recoveries of employer liabilities to terminated plans. 

-

teed by PBGC is available on PBGC’s 

Web site at www.pbgc.gov/workersretirees/pbgcguarantees.

Filing and issuance rules

and may have to submit reports or other 

material to PBGC. PBGC’s regulations 

at 29 CFR Part 4000 provide guidance 

submissions (including payments) to 

guidance on the methods you may use in 

providing notices and other information 

to persons other than PBGC, such as 

requirements, these regulations also 

provide information on how to detersummarized below. 

Filing methods. If you have a PBGCcovered plan you must pay premiums 

made electronically using “My Plan 

Administration Account” (“My PAA”), 

which is accessed through PBGC’s Web 

premium payment information can be 

found in Chapter II. Premiums to be 

Paid to PBGC. (Annual Financial and 

Actuarial Information Reporting under 

ERISA section 4010 must also be made 

usually do not apply to small plans or 

small employers. )

Paper submissions to PBGC may be 

delivery service. PBGC’s Web site 

(www.pbgc.gov) contains information 

types of submissions. In addition, the 

Web site contains information on how 

to meet the technical requirements for 

Issuance methods. Under certain circumstances you must issue a notice or other 

information to a third party such as a 

of issuance that is reasonably calculated 
6 | Federal Pension Insurance Guide for Small Business

to ensure actual receipt by the intended 

recipient may be used. (Posting is not a 

permissible method of issuance.) See 29 

CFR § 4000.14 for safe-harbor methods 

for electronic issuances (e.g., e-mail). 

Filing or issuance dates. Generally, PBGC 

treats a submission as filed, or an issuance as provided, on the date it is sent, 

provided certain requirements are met. 

The requirements depend on the method 

used. In general, if a submission or issuance is made via the U.S. Postal Service, 

the filing or issuance date is the mailing 

date. If a commercial delivery service 

is used, the filing or issuance date is the 

date the filing or issuance is deposited 

with the commercial delivery service. If 

a filing is hand-delivered and received at 

PBGC before 5 p.m. on a business day, 

the filing date is the date of delivery. If 

received on a weekend, holiday, or after 

5 p.m. (Eastern Time) on a business day, 

the filing date is the next business day. If 

a filing or issuance is made by electronic 

delivery (e.g., e-mail), generally the filing 

or issuance date is the date the filing or 

issuance is electronically transmitted. 

Electronic filings and submissions must 

comply with any technical requirements 

set forth on PBGC’s Web site 

(www.pbgc.gov) for the types of 

submissions or issuances. Certain filings 

are always treated as filed when received, 

but such filings generally do not involve 

small plans or small employers.

Computation of time. In general, to 

compute time periods under PBGC’s 

regulations, whether counting forwards 

or backwards, count the day after (or 

before) the act, event, or default that 

begins the period as day one, the next 

day as day two and so on. All days, 

including weekends and Federal holidays 

should be counted. However, if the last 

day counted is a weekend or Federal 

holiday, the period of time is extended 

or shortened (whichever is beneficial in 

complying with the time requirement) to 

the next business day. For example, for 

a plan terminating in a standard termination, a Notice of Intent to Terminate 

must be issued at least 60 days and no 

more than 90 days before the proposed 

termination date (see Chapter V. Plan 

Terminations). If the 60th day before the proposed termination date is a 

Saturday, the notice is timely if issued on 

the following Monday even though that 

date is only 58 days before the proposed 

termination date. Additional information on the computation of time rules 

and examples are available on PBGC’s 

Web site (www.pbgc.gov). 
PREMIUMS | 7

of the prior plan year in most cases. For 

ERISA sections 4006 and 4007 require 

plans covered by PBGC to pay premiums annually to PBGC. PBGC’s 

regulations at 29 CFR Part 4006 and 

29 CFR Part 4007 provide guidance on 

computing and paying premiums.

Types and amounts of 

premiums to be paid

General. Single-employer plans pay two 

kinds of premiums. All single-employer 

plans pay a flat-rate premium; underfunded plans pay an additional variablerate premium.

Flat-rate premium. Each year’s flat-rate 

premium is equal to the flat premium 

rate for the year multiplied by the 

number of participants. The flat 

premium rate is adjusted each year 

for inflation and is programmed into 

My PAA (PBGC’s online premium 

payment application) and printed in the 

premium instructions. “Participants” 

generally include any current employee 

covered by your plan, former employees 

receiving or entitled to receive future 

benefits, and deceased participants who 

have one or more beneficiaries entitled 

to or receiving benefits. The number of 

participants is measured as of the participant count date, which is the last day 

II Premiums to be Paid 

 to PBGC

For information on whether a plan is 

covered by PBGC insurance, and thus 

whether premiums are owed, and to 

request a coverage determination: 

Call: 800-736-2444 or 202-326-4242

E-mail: standard@pbgc.gov 

Write: 

Pension Benefit Guaranty Corporation 

Insurance Program Office 

Technical Assistance Branch 

1200 K Street NW 

Washington, DC 20005-4026 

A coverage determination request 

does not extend the due date for any 

premiums that are due.

For TTY/TDD users

Federal Relay Service toll-free at 

800-877-8339 and ask to be connected 

to the appropriate number given in 

this Guide. 

Only 800 numbers are toll-free; all other telephone numbers are not toll-free 

and collect calls cannot be accepted.

, call the 
8 | Federal Pension Insurance Guide for Small Business

example, if your plan is a calendar-year 

plan, the participant count date is generally December 31 of the prior year.

Example: For plan years beginning in 2009, the per-participant 

single-employer flat premium rate 

is $34 (see PBGC’s Web site for 

any rate increases for subsequent 

years). If a single-employer plan 

had 30 participants on the participant count date for the 2009 plan 

year, the flat-rate premium would 

be 30 x $34, or $1,020. If the plan 

does not have any unfunded vested 

benefits (see following section), 

this is the total premium. [The flat 

premium rate for 2010 will be $35 

per participant.]

Variable-rate premium. The variable-rate 

premium is $9 per $1000, or fraction 

thereof, of unfunded vested benefits

(UVBs) as of the UVB valuation date. 

The amount of UVBs is the amount by 

which the present value of the benefits 

in which participants are vested exceeds 

the present value of plan assets. The 

UVB valuation date is the same as the 

date used to determine the minimum 

required contribution. The law specifies (and PBGC’s premium payment 

instructions describe) the rules for 

calculating UVBs.

Example: If a plan has UVBs of 

$200,000 on the UVB valuation 

date, the variable-rate premium 

is $9 x ($200,000 / $1,000), or 

$1,800. Continuing with the 

previous example (for 2009), if the 

plan has 30 participants, the total 

premium is the sum of the flat-rate 

premium ($1,020) and the variablerate premium ($1,800), or $2,820.

Plans exempt from variable-rate premiums. Three types of plans are exempt 

from paying a variable-rate premium:

♦ Plans with no vested participants;

♦ Insurance contract plans described 

in section 412(e)(3) of the Internal 

Revenue Code;

♦ Plans that have issued a Notice of 

Intent to Terminate (NOIT) in a 

standard termination (see Chapter 

V. Plan Terminations) where the 

NOIT has a proposed termination 

date that is on or before the UVB 

valuation date.

For premium filing instructions 

and other general premium-related 

inquiries and assistance, including 

address changes, call the telephone 

numbers provided on page 7 or:

Fax: 202-326-4250

E-mail: premiums@pbgc.gov

Write: 

Pension Benefit Guaranty Corporation

Dept. 77840

P.O. Box 77000

Detroit, MI 48277-0840

Premium payment forms and 

instructions are also available on 

PBGC’s Web site at:

www.pbgc.gov/practitioners/

premium-instructions

Information on My PAA is available on 

PBGC’s Web site at:

www.pbgc.gov/practitioners/onlinepremium-filing.
PREMIUMS | 9

If your plan is exempt from the variablerate premium, you must still make a 

premium filing to claim the exemption.

Cap on variable-rate premium for certain 

small-employer plans. The amount of the 

variable-rate premium is capped for a 

plan if the aggregate number of employees of all employers in the plan’s controlled group on the first day of the plan 

year is 25 or fewer. A plan’s controlled 

group includes all contributing sponsors of the plan and all members of the 

contributing sponsors’ controlled groups. 

If you think your plan may be eligible for 

this cap please see PBGC’s regulations at 

29 CFR § 4006.3(b)(2), (3), and (4). If 

your plan meets these requirements, its 

variable-rate premium is capped at $5 

multiplied by the square of the number 

of participants.

Example: If a plan is eligible for the 

cap, and the number of participants 

in the plan is 20, the variable-rate 

premium is capped at $2,000 ($5 x 

202

 = $5 x 400 = $2,000).

General premium filing rules

Small plans (fewer than 100 participants). 

Generally, if you are required to pay 

premiums and you have a small plan, you 

must make a comprehensive premium 

filing and pay the entire premium due 

within 4 months after the end of your 

plan year (or, as stated within the regulation, “by the last day of the 16th full 

calendar month following the end of 

the plan year before the premium payment year”). The plan year is the annual 

period for which your plan’s records are 

kept. For example, if the plan year is the 

calendar year, your filing for 2009 is due 

April 30, 2010.

Mid-size plans (100 to 500 participants). 

Generally, if you are required to pay 

premiums and you have a mid-size 

plan, you must make a comprehensive premium filing and pay the entire 

premium due by the middle of the 10th 

full calendar month of the plan year. For 

example, if the plan year is the calendar 

year, your filing for 2009 would be due 

by October 15, 2009.

For complaints about the service 

received or if further assistance is 

needed after calling our general 

practitioner telephone number 

(800-736-2444 or 202-326-4242), 

please contact the Problem Resolution 

Officer (Premiums):

Call: 800-736-2444 ext. 4136 or 

202-326-4136

E-mail: practitioner.pro@pbgc.gov

Write:

Pension Benefit Guaranty Corporation

Problem Resolution Officer (Practitioners)

1200 K Street NW, Suite 610

Washington, DC 20005-4026
10 | Federal Pension Insurance Guide for Small Business

Special premium filing rules

Large plans (500 or more participants). 

Large plans are not typically sponsored 

by small businesses. For information 

on the premium filing rules for 

large plans see PBGC’s regulation at 

29 CFR Part 4006. 

First year premium filings; changes of 

plan year; mergers and spinoffs. Special 

premium filing rules apply if you have a 

plan that is filing for its first plan year, 

if your plan changes its plan year as a 

result of a plan amendment, and possibly 

if your plan is involved in a year-end 

merger or spinoff. PBGC provides more 

detailed guidance for these situations in 

its Premium Instructions.
DISCLOSURE | 11

) 

III Disclosure to 

 Participants 

Disclosure of funding status

The Pension Protection Act of 2006 

(PPA) made certain changes to ERISA’s

funding disclosure rules. Before PPA, 

section 4011 of ERISA required certain 

underfunded plans to notify participants

of the plan’s funding status and the limits on PBGC’s guarantee. PPA repealed

ERISA section 4011 for plan years 

beginning after December 31, 2006, 

and replaced it with new disclosure 

requirements under ERISA section 

101(f ). Although ERISA section 101(f

is administered by the Department of 

Labor, disclosure must still be made to 

PBGC in certain circumstances. 

It is unlikely that a small business will 

be required to make such disclosures. 

For detailed information on the new 

disclosure requirements, including the 

information that must be provided in 

the annual funding notice to participants, see Department of Labor Field 

Assistance Bulletin No. 2009-01 (Feb. 

10, 2009), www.dol.gov/ebsa/pdf/

fab2009-1.pdf.

Disclosure of termination 

information 

PPA also added sections 4041(c)(2)(D) 

and 4042(c)(3) to ERISA. These provisions allow an affected party to request 

information related to a plan termination 

from the plan administrator in the case 

of a distress termination under ERISA 

section 4041, and from the plan administrator, plan sponsor, or PBGC in the 

case of a PBGC-initiated termination 

under ERISA section 4042. “Affected 

party” includes participants, beneficiaries 

of deceased participants, alternate payees 

under qualified domestic relations orders 

(“QDROs”), and employee organizations 

representing participants. The disclosure 

provisions are applicable to any distress 

or PBGC-initiated termination begun 

on or after August 17, 2006 (see 

Chapter V. Plan Terminations). 

For information on PBGC requirements 

regarding the Annual Funding Notice: 

Call: 800-736-2444 (ext. 4070) or 

202-326-4070 

E-mail: single-employerAFN@pbgc.gov 

Write: 

Pension Benefit Guaranty Corporation 

Department of Insurance Supervision 

 and Compliance

ATTN: Single-Employer AFN Coordinator

1200 K Street NW, Suite 270 

Washington, DC 20005-4026
12 | Federal Pension Insurance Guide for Small Business

IV Reporting Business 

 and Plan Events to PBGC

Reportable events 

ERISA section 4043 requires that you 

report to PBGC certain events that may 

signal problems with your plan or your 

business. Notice of these events alerts 

PBGC to situations that may jeopardize 

workers’ pensions or the termination 

insurance program. PBGC’s regulation 

on reportable events and large unpaid 

contributions (29 CFR Part 4043) 

describes the events and notice requirements in detail. 

You must notify PBGC within 30 days 

after you know (or should have known) 

that a reportable event has occurred. 

(PBGC considers a filing by any person 

required to report to be a filing by all 

persons required to report.) PBGC has 

extended the reporting deadline for some

events to make it easier for you to comply. The notice to PBGC must contain 

certain information about your plan, your

plan administrator, contributing employers and any affiliated companies, and a 

description of the event. You may use 

Form 10 to notify PBGC of a reportable 

event. Further information regarding 

specific reportable events and Form 10 

and Form 10 instructions, are available 

on PBGC’s Web site. (Advance notice 

of reportable events is required in some 

For information about reportable 

events: 

Call: 800-736-2444 (ext. 4070) or 

202-326-4070 

E-mail: post-event.report@pbgc.gov 

except for 4062(e) events; 

4063.report@pbgc.gov for 4062(e) events

Write:

Pension Benefit Guaranty Corporation 

Department of Insurance Supervision 

 and Compliance 

1200 K Street NW, Suite 270 

Washington, DC 20005-4026 

Information on notices of reportable 

events and failure to make required 

contributions is available on PBGC’s 

Web site at: 

www.pbgc.gov/practitioners/ 

reportable-events

Form 10 and Form 10 Instructions are 

available on PBGC’s Web site at: 

www.pbgc.gov/docs/10.pdf and 

www.pbgc.gov/docs/10_instructions.pdf 

Form 200 and Form 200 Instructions 

are available on PBGC’s Web site at: 

www.pbgc.gov/docs/200.pdf and 

www.pbgc.gov/docs/200_instructions.pdf
REPORTING TO PBGC | 13

cases but generally does not apply to 

small plans or small employers.)

If you have missed a required contribution or contributions totaling more than 

$1 million to your pension plan, you 

must notify PBGC within 10 days after 

you know (or should have known) that 

this reportable event had occurred. To 

report this event, you must use Form 200 

rather than the Form 10.

If, as a result of a cessation of operations 

at any facility, more than 20 percent of 

your employees who participate in a pension plan you sponsor are separated from 

employment, a liability may arise under 

ERISA section 4062(e). Under ERISA 

section 4063, you are required to notify 

PBGC of this event within 60 days of its 

occurrence. PBGC is developing a form 

for plan sponsors to use; please send a 

letter or e-mail explaining the event until 

the form is available.

Waivers and extensions of 

reporting requirements

PBGC may waive reporting requirements in particular cases. PBGC has 

also established general waivers. Many 

of the general waivers are based on plan 

size or funding level, using specified 

actuarial assumptions. Some of the 

waivers have been affected by the 

Pension Protection Act of 2006. See 

applicable Technical Updates at 

www.pbgc.gov/practitioners/

reportable-events for guidance.

Reportable events most 

likely to be of concern to 

small businesses

The following reportable events are the 

ones that are most likely to impact small 

businesses. Further information is available on PBGC’s Web site.

♦ Failure to Make Required Funding 

Payment

General rule. You must report any failures to make required funding payments 

to your plan unless full payment is made 

by the time the report is due (30 days 

after the missed deadline).

Large Unpaid Contributions. If you have 

missed a required contribution or contibutions totaling more than $1 million 

to your pension plan, you must notify 

PBGC within 10 days after this event 

has occurred. There is no waiver of, or 

extension for, reporting this event, for 

which Form 200 must be used.

Exception for missed quarterlies for small 

plans for 2009 plan years. Technical 

Update 09-3 provides relief if you do not 

make a quarterly contribution for the 

2009 plan year as required and the failure 

to make the contribution is not motivated by financial inability. The Technical 

Update waives reporting in such a case 

if your plan has fewer than 25 participants and provides a simplified reporting 

requirement if your plan has at least 25 

but fewer than 100 participants. 
14 | Federal Pension Insurance Guide for Small Business

♦ Inability to Pay Benefits When 

Due

If your plan has 100 or fewer participants on each day during the preceding 

plan year you must report if you have 

a current or “projected” inability to pay 

benefits. In determining the number 

of participants, all defined benefit plans 

maintained by you (including any affiliates) are considered to be one plan. A 

“projected” inability exists if your plan’s 

liquid assets at the end of a quarterly 

period are less than twice the disbursements from your plan for that period. 

“Liquid assets” means cash, marketable 

securities, and certain other assets. “Disbursements from your plan” means all 

disbursements from the trust, including 

purchases of annuities, payments of benefits including lump-sum distributions, 

and administrative expenses.

♦ Distribution to a Substantial 

Owner

You must notify PBGC whenever total 

distributions to a substantial owner (10% 

or more ownership) over a one-year 

period exceed the greater of one percent 

of plan assets or a specified dollar limit. 

The dollar limit for the year is equal to 

the maximum annuity benefit that your 

plan can pay for the year under section 415 of the Internal Revenue Code 

($195,000 for 2009). Thus, for example, 

a $200,000 distribution to a substantial 

owner in 2009 must be reported if the 

plan’s assets total less than $20,000,000.

♦ Application for Minimum 

Funding Waiver

You must notify PBGC whenever you 

file an application with the Internal 

Revenue Service for a minimum 

funding waiver.

♦ Loan Defaults

You must report certain defaults on loans 

with outstanding balances of $10 million 

or more.

♦ Bankruptcy or Similar Proceeding

You must report the commencement of 

any bankruptcies or any other type of 

insolvency proceedings. 
PLAN TERMINATIONS | 15

V Plan Terminations

Pursuant to ERISA section 4041 and 

PBGC’s regulations at 29 CFR Part 

4041, you may voluntarily terminate 

your covered defined benefit plan 

only through one of two procedures: 

a standard termination or a distress 

termination. Under certain circumstances, PBGC may initiate a termination of your plan if necessary to protect 

the interests of your plan participants 

or of the insurance program. PBGC is 

required to terminate any plan that does 

not have assets available to pay benefits 

currently due.

Standard terminations

You may terminate your plan in a 

standard termination if your plan has 

enough assets to pay all benefits owed 

participants and beneficiaries as of the 

termination date. 

♦ Termination process 

The specific forms and instructions for 

standard terminations can be obtained 

from PBGC’s Web site or by contacting 

PBGC. The highlights of the process are 

described below. (See also Chapter VI. 

Missing Participants Program for how 

to handle missing participants.) 

Notice format: PBGC does not require 

any particular format for required notices 

to parties other than PBGC (e.g., the 

For information about standard 

terminations or to obtain standard 

termination forms and instructions:

Call: 800-736-2444 or 202-326-4242

E-mail: standard@pbgc.gov 

Write:

Pension Benefit Guaranty Corporation

Standard Termination Compliance 

 Division, Suite 930

Processing and Technical 

 Assistance Branch

1200 K Street NW

Washington, DC 20005-4026

Information on standard terminations is 

available on PBGC’s Web site at: 

www.pbgc.gov/practitioners/

standard-terminations

Standard termination forms and 

instructions (Form 500 and Form 500 

Instructions) are available on PBGC’s 

Web site at: 

www.pbgc.gov/docs/500and501.pdf and 

www.pbgc.gov/docs/500_instructions.pdf
16 | Federal Pension Insurance Guide for Small Business

Notice of Intent to Terminate and 

Notice of Plan Benefits described 

below) but they must be readable 

and written in a way calculated to be 

understood by the average participant. 

Special rules apply to plans with 

specified numbers or percentages of 

participants who are literate only in 

the same non-English language.

1. Notice of intent to terminate (NOIT)

If you decide to terminate a pension 

plan, you must issue an NOIT, at 

least 60 days and no more than 90 

days before the proposed termination 

date, to any “affected party” (other than 

PBGC) as defined in ERISA section 

4001(a)(21). Affected parties include 

participants, beneficiaries of deceased 

participants, alternate payees under 

QDROs, and employee organizations 

representing participants.

PBGC provides a Model NOIT in 

Appendix B of its standard termination instructions at www.pbgc.gov/

docs/500_instructions.pdf.

2. Administration of plan after 

NOIT issued

After the NOIT is first issued, you may 

purchase an annuity or pay a benefit as a 

lump sum if:

♦ the participant has separated from 

service or is otherwise permitted to 

receive a distribution from your plan;

♦ the distribution is consistent with 

your plan’s practice; and

♦ the distribution isn’t expected to 

affect your plan’s sufficiency for 

plan benefits. 

3. Standard termination notice (Form 500)

Deadline for issuance. You must file 

a Form 500 with PBGC no later than 

the 180th day after the proposed 

termination date.

Certification of sufficiency. The Form 

500 includes a certification to be made 

by your enrolled actuary (on Schedule 

EA-S) that the plan assets are 

projected to be sufficient as of the 

proposed distribution date to pay all 

of your plan benefits.

4. Notice of plan benefits (NOPB)

The NOPB tells participants and beneficiaries what their benefits will be or 

are estimated to be. You must issue an 

NOPB to all plan participants, beneficiaries of deceased participants, and 

alternate payees under QDROs by the 

time you file the Form 500 with PBGC. 

5. PBGC review period

Period and purpose of review. PBGC 

has 60 days from the date of receipt of 

your Form 500 to review it for compliance with the law and regulations. If 

necessary and appropriate, PBGC may 

provide you with additional time to 

complete a filing. Under certain circumstances, PBGC may issue a Notice of 

Noncompliance (NONC). A NONC 

nullifies all actions taken to terminate 

the plan so the plan remains an ongoing plan. PBGC is required to issue a 

NONC if, as of the distribution date 

proposed in the standard termination 

notice, assets will not be sufficient to pay 

all of the plan benefits. Although PBGC 

may issue a NONC for procedural defects, PBGC generally will not do so if it 
PLAN TERMINATIONS | 17

finds that issuing a NONC 

would not be in the interests of 

participants and beneficiaries.

Extension of review period. PBGC’s 60-

day review period may be extended by 

agreement between you and PBGC.

Suspension of review period. The running 

of PBGC’s 60-day (or extended) review 

period is suspended whenever PBGC 

asks you to submit additional information. 

6. Distribution of plan assets

Deadline. You must distribute plan 

assets in satisfaction of all plan benefits 

within 180 days (or more, if extended) 

after the end of PBGC’s 60-day (or 

extended) review period. 

Alternative deadline. The period for 

distribution is automatically extended 

until the 120th day after you receive a 

favorable tax-qualification determination 

letter from the IRS, provided you submitted a complete determination letter 

request to the IRS on or before the date 

the Form 500 was filed.

Form of distribution. You must distribute 

plan assets in satisfaction of plan benefits 

either by buying annuity contracts or 

paying in another permitted form, such 

as lump sums. Annuity contracts must 

retain all the benefit options that were 

provided in your plan as of the termination date. For married participants, 

spousal consent is required for all benefit 

options other than a qualified joint and 

survivor annuity, unless the present value 

of the benefit is de minimis. The de minimis amount must be specified in your 

plan and cannot exceed the dollar limit 

under section 411(a)(11) of the Code 

($5,000 for 2009). 

Lump sums. Many distributions will be 

in the form of lump sums. Through its 

standard termination audit program, 

PBGC has found that many small 

employers make errors in calculating 

the amount of lump sums. 

See Technical Update 08-4 for 

guidance on calculating lump sum 

values in standard terminations at 

www.pbgc.gov/practitioners/TU08-4.

7. Notice of annuity information

Notice of identity of insurer(s). No later 

than 45 days before distribution, you 

must send, to all affected parties who 

will not receive mandatory cashouts, a 

notice identifying the insurer or insurers 

from whom (if known), or a list of insurers from among whom, annuities will 

be purchased. This information must be 

included in the NOIT if it is known at 

the time the NOIT is issued. 

Notice of State Guaranty Association 

Coverage. The first time you identify the 

insurer(s), you must provide a Notice of 

Annuity Information. This Notice must 

include specified information about state 

guaranty associations’ coverage of annuities issued by insurance companies, and 

about how the addresses and telephone 

numbers of these state guaranty associations may be obtained from PBGC. A 

model Notice of State Guaranty Association Coverage of Annuities is available at www.pbgc.gov/docs/

500_instructions.pdf. 

8. Providing the annuity contract

If plan benefits are provided through 

the purchase of an annuity, the plan 

administrator or the insurer must, within 
18 | Federal Pension Insurance Guide for Small Business

30 days after it is available, provide the 

participant or beneficiary with a certificate or a copy of the annuity contract. If 

the certificate or contract is not provided 

within 90 days after the distribution 

deadline, the plan administrator must, 

by that date, provide the participant or 

beneficiary with a notice containing the 

insurer’s name, address, and contact information and stating that the obligation 

for providing the benefit has transferred 

to the insurer and that the plan administrator or insurer will provide the participant or beneficiary with a certificate or a 

copy of the annuity contract.

9. Post-distribution certification

You must file a Post-Distribution 

Certification (PBGC Form 501) 

with PBGC. The Post-Distribution 

Certification tells PBGC that your plan 

has satisfied benefit promises to 

all participants and beneficiaries, 

including those whom you were unable 

to locate. The deadline for filing Form 

501 with PBGC is the 30th day after 

you complete the distribution of plan 

assets. PBGC will assess a penalty 

for a late filing of the Form 501 only 

to the extent it is filed more than 

90 days after the distribution deadline 

(including extensions). 

10. Audits of completed standard 

terminations

PBGC periodically selects plans to audit 

from among those standard plan terminations that have filed the Form 501 with 

PBGC. Plans are audited primarily to 

ensure that participants and beneficiaries 

have received all benefits they were owed. 

PBGC selects all plans with a participant 

count of more than 300 for audit. For 

plans with a participant count of 300 or 

fewer, PBGC randomly selects plans to 

audit. When benefit payment errors are 

found in an audit, PBGC requires the 

plan sponsor to correct the errors.

 Distress terminations

A plan that does not have enough assets 

to pay all benefits owed participants and 

beneficiaries may be terminated in a 

For information about distress 

terminations or to obtain distress 

termination forms and instructions:

Call: 800-736-2444 (ext. 4100) or 

202-326-4242

E-mail: distress@pbgc.gov

Write: 

Pension Benefit Guaranty Corporation

Department of Insurance

 Supervision and Compliance

1200 K Street NW, Suite 270

Washington, DC 20005-4026

Information on distress terminations is available on PBGC’s Web site 

at: www.pbgc.gov/practitioners/

distress-terminations

Distress termination forms and 

instructions (Form 600 and Form 600 

Instructions) are also available on 

PBGC’s Web site at:

www.pbgc.gov/docs/600-601-602.pdf 

and

www.pbgc.gov/docs/

600_instructions.pdf.
PLAN TERMINATIONS | 19

distress termination but only if the plan 

sponsor and the members of the sponsor’s “controlled group” prove that they 

are financially unable to support the 

plan. To do so, you, and each member 

of your controlled group, must satisfy at 

least one of four statutory distress tests 

as of the proposed termination date; you 

and members of your controlled group 

do not all have to satisfy the same test. 

The four tests are: 

♦ liquidation in bankruptcy or 

insolvency proceedings;

♦ reorganization in bankruptcy or 

insolvency proceedings where a court 

determines that your business will be 

unable to pay debts when due and to 

continue in business unless a distress 

termination occurs;

♦ inability of your business to pay its 

debts when due and to continue in 

business unless a distress termination 

occurs; and 

♦ unreasonably burdensome pension 

costs due solely to a decline in the 

number of employees covered by 

your plan. 

The distress termination instructions on 

PBGC’s Web site provide more detailed 

information on each test. 

♦ Termination process

The specific forms and instructions for 

distress terminations are available on 

PBGC’s Web site. (See Chapter VI. 

Missing Participants Program

for information on how to handle 

missing participants.) 

As with standard terminations, there is 

no prescribed form for notices to parties 

other than PBGC. However, the notices 

must be readable and written in a way 

calculated to be understood by the average participant. Special rules apply to 

plans with specified numbers or percentages of participants who are literate only 

in the same non-English language.

See Chapter III. Disclosure to 

Participants for information 

about disclosure of certain distress 

termination information.

As with a standard termination, the 

distress termination process begins with 

the NOIT, which must be issued at least 

60 days and no more than 90 days before 

the proposed termination date to any 

“affected party” as defined in ERISA 

section 4001(a)(2). 
20 | Federal Pension Insurance Guide for Small Business

The Missing Participants Program assists 

employers who voluntarily terminate 

their defined benefit plans in a standard 

termination. 

If you choose to terminate your pension 

plan you are required to distribute all 

plan benefits to plan participants and 

beneficiaries before your plan is allowed 

to wind up its affairs. Before the 

Missing Participants Program was 

created, plan administrators had to 

provide for the benefits owed to 

missing participants (including missing 

beneficiaries of deceased participants) 

either by purchasing annuities from 

private insurers in the names of the 

missing participants or by depositing 

funds in a financial institution on their 

behalf. Employers often had difficulty 

finding an insurance company or financial institution willing to accept funds in 

the name of a missing participant. 

In addition, missing participants who 

later tried to locate their benefits often 

had difficulty finding them. The 

Missing Participants Program was 

created to address these issues.

VI Missing Participants

Program

For information about the missing 

participants program or to obtain forms 

and instructions for the program: 

Call: 800-736-2444 or 202-326-4242 

E-mail: standard@pbgc.gov or

distress@pbgc.gov, depending upon 

type of termination. 

Write: 

Pension Benefit Guaranty Corporation 

Processing and Technical 

 Assistance Branch, Suite 930 

1200 K Street NW 

Washington, DC 20005-4026

Information on the Missing Participants 

Program is available on PBGC’s Web 

site at: www.pbgc.gov/practitioners/

missing-participants.

Missing Participant Forms and 

instructions are available on PBGC’s 

Web site at:www.pbgc.gov/docs/mp_

form_092804.pdf and www.pbgc.gov/

docs/MP_instructions_092804.pdf.
MISSING PARTICIPANTS | 21

How the program works

Before you may use PBGC’s Missing 

Participants Program, you are required to 

conduct a diligent search for all participants and beneficiaries who cannot be 

located, including using a commercial 

locator service.

If a participant or beneficiary cannot be 

located after a diligent search, you may 

send the value of the individual’s benefit 

to PBGC with information about the 

individual and the benefits owed, including the individual’s earliest retirement 

date for the benefit and beneficiary 

information. Instead of sending money 

to PBGC, however, you may choose 

to purchase an annuity from a private 

insurer in that individual’s name. In this 

case you must provide information on 

the individual and the insurer to PBGC. 

See PBGC’s Missing Participants regulation at 29 CFR Part 4050 for further 

guidance. 

You must submit information about 

missing participants and beneficiaries 

to PBGC and make any payment of 

designated benefits with a voucher 

form at the time you submit the PostDistribution Certification (PBGC Form 

501 or Form 602). The PBGC forms 

for missing participants—the Schedule 

MP, Attachments A and B, and payment 

voucher—and detailed filing instructions 

are available on PBGC’s Web site and in 

a booklet available from PBGC. 

PBGC conducts periodic searches for 

missing participants. When a missing 

participant is found, PBGC will pay the 

pension benefit or provide the person 

with the name of the private insurer 

holding the person’s annuity.

NOTE: The Pension Protection Act of 

2006 expanded PBGC’s Missing Participants Program to include multiemployer 

plans, small professional service employer plans (25 or fewer active participants), 

and individual account plans. This 

expansion will be effective when PBGC 

adopts final regulations.

Pension Search Directory

To help participants and beneficiaries in 

terminated plans locate pension benefits 

that may be owed to them, PBGC has 

set up the Pension Search Directory on 

its Web site. The Directory lists missing participants by name, employer and 

state. It is updated periodically as PBGC 

receives names of more missing participants. Persons who find their names in 

the Directory should contact PBGC to 

claim their pensions.
22 | Federal Pension Insurance Guide for Small Business

VII PBGC Penalties

PBGC assesses two types of penalties: 

(1) an information penalty for failure 

to provide, within specified time limits, 

notices and other material information 

required to be reported to PBGC or 

other parties; and (2) a premium penalty 

for late payment of premiums.

Information penalties

Under ERISA section 4071 and PBGC’s 

information penalty regulation (29 CFR 

Part 4071), PBGC may assess a penalty 

of up to $1,100 a day if material information is not timely provided. PBGC’s 

Information Penalty Policy provides 

for a basic penalty amount of $25 per 

day for the first 90 days of delinquency 

and $50 per day thereafter. The total 

potential penalty is capped at $100 times 

the number of plan participants, and 

penalties are reduced proportionately 

for plans with fewer than 100 participants (e.g., if a plan has 25 participants, 

the penalty will be 25% of the penalties 

otherwise assessed). The penalty may be 

adjusted up or down based on the facts 

and circumstances—for example, willful 

failure to comply, pattern or practice of 

violation, or substantial harm to participants or PBGC (generally in situations 

involving large plans or companies). 

 Premium penalties

Under PBGC’s regulation on Payment 

of Premiums (29 CFR Part 4007), the 

amount of the premium penalty is one 

percent or five percent of the unpaid 

premium for each month (or fraction 

of a month) that the premium is late, 

depending on whether payment is made 

before the date PBGC first issues a written notice that the premium is or may 

be late. PBGC’s written notice can take 

any of several forms, such as a premium 

bill, an audit notice, or a letter questioning a failure to make a premium filing. 

The penalty may not exceed 100% of the 

amount of the unpaid premium. Review of premium penalty assessments 

is covered by PBGC’s administrative 

review regulation (Part 4003). More 

information regarding penalties for late 

premiums is available at www.pbgc.gov/

practitioners/premium-filings/latepayment-charges.
PENALTIES | 23

Penalty waivers

PBGC may waive all or part of a 

penalty on its own initiative, for rea-

sonable cause, and in other specified 

circumstances. PBGC evaluates each 

request for a reasonable cause waiver 

to determine whether the responsible 

person exercised ordinary business care 

and prudence and the violation resulted 

from circumstances beyond that person’s 

control. For more information on pre-

mium penalty waivers, see the appendix 

to 29 CFR Part 4007. Information on 

premium penalty waivers is also available 

on PBGC’s Web site at www.pbgc.gov/

practitioners/premium-filings/latepayment-charges. 
24 | Federal Pension Insurance Guide for Small Business

ERISA – ERISA’s United States Code citation is 29 U.S.C. 1001 et seq. See also 

Title 26 of the U.S. Code for tax provisions and 26 Code of Federal Regulations for applicable Department of Treasury regulations, 29 CFR Chapter 

XXV (Parts 2509-2590) for the regulations of the Employee Benefits Security 

Administration (EBSA) of the Department of Labor, and 29 CFR Chapter 

XL (Parts 4000-4907) for Pension Benefit Guaranty Corporation regulations. 

Pension Insurance Program (Title IV of ERISA) – See ERISA sections 4001 et 

seq. (29 U.S.C. 1301 et seq.) and 29 CFR Parts 4000 to 4907. 

Plans Covered by PBGC – See ERISA section 4021 (29 U.S.C. 1321).

Benefits Guaranteed by PBGC – See ERISA section 4022 (29 U.S.C. 1322) and 

29 CFR Part 4022. Information on PBGC-guaranteed benefits is available 

on PBGC’s Web site at www.pbgc.gov/workers-retirees/

pbgcguarantees. 

Filing and Issuance Rules – See 29 CFR Part 4000. Information on My PAA 

premium filing requirements is available on PBGC’s Web site at 

www.pbgc.gov/practitioners/online-premium-filing.

PBGC Premiums – See ERISA section 4006 (29 U.S.C. 1306) and ERISA section 

4007 (29 U.S.C. 1307), 29 CFR Part 4006 and 29 CFR Part 4007. PBGC’s 

Premium Payment Forms and Instructions are available on PBGC’s 

Web site at www.pbgc.gov/practitioners/premium-instructions and 

information on My PAA (PBGC’s online premium application) is available 

at www.pbgc.gov/practitioners/online-premium-filing. 

VIII The Law, Pertinent

 Regulations, and 

 Other Guidance
REFERENCES | 25

Participant Notice Requirements – See ERISA section 4011 (29 U.S.C. 1311)

and 29 CFR Part 4011. ERISA section 4011 is repealed for plan years 

beginning after December 31, 2006, and is replaced by new disclosure 

requirements under ERISA section 101(f ). Information on the participant 

notice requirements under ERISA section 101(f ) is available on EBSA’s Web 

site at www.dol.gov/ebsa/regs/fab2009-1.html.

Form 5500/Annual Reporting Requirements – See the U.S. Department of 

Labor’s regulation at 29 CFR Part 2520 and the Form 5500 Instructions 

for information on the annual information report and other annual reporting obligations. You may view and download the Form 5500 and Form 5500 

Instructions on EBSA’s web site at www.dol.gov/ebsa/5500main.html. The 

Form 5500 must be filed electronically. Information regarding electronic filing is also available on EBSA’s Web site at www.dol.gov/ebsa/

compliance_assistance.html#section5a. 

Reportable Events – See ERISA section 4043 (29 U.S.C. 1343), 29 CFR Part 

4043, and PBGC’s Form 10, Form 10 Instructions, Form 200, and Form 200 

Instructions. Information on notices of reportable events and failure to make 

required contributions is available on PBGC’s Web site at www.pbgc.gov/

practitioners/reporting-and-disclosure/content/page14886.html. Form 10 

and Form 10 Instructions are available on PBGC’s Web site at: www.pbgc.

gov/docs/10.pdf and www.pbgc.gov/docs/10_instructions.pdf and Form 

200 and Form 200 Instructions are available on PBGC’s Web site at: www.

pbgc.gov/docs/200.pdf and www.pbgc.gov/docs/200_instructions.pdf.

Until PBGC finalizes a form to report events subject to ERISA 

section 4062(e), please send a letter explaining the event by e-mail 

to 4063.report@pbgc.gov or by regular mail to the reportable event 

address on page 12.

Standard Termination – See ERISA section 4041 (29 U.S.C. § 1341), 29 CFR 

Part 4041, and PBGC’s standard termination forms and instructions (Form 

500 and Form 500 Instructions). Information on standard terminations is 

available on PBGC’s Web site at www.pbgc.gov/practitioners/

standard-terminations. Form 500 and Form 500 Instructions are available 

on PBGC’s Web site at www.pbgc.gov/docs/500and501.pdf and www.pbgc.

gov/docs/500_instructions.pdf. 
26 | Federal Pension Insurance Guide for Small Business

Distress Termination – See ERISA section 4041 (29 U.S.C. 1341), 29 CFR Part 

4041, and PBGC’s distress termination forms and instructions (Form 600 

and Form 600 Instructions). Information on distress terminations is available 

on PBGC’s Web site at PBGC’s Web site at www.pbgc.gov/practitioners/

distress-terminations. Form 600 and Form 600 Instructions are available on 

PBGC’s Web site at www.pbgc.gov/docs/600-601-602.pdf and www.pbgc.

gov/docs/600_instructions.pdf.

Missing Participants Program – See ERISA section 4050 (29 U.S.C. 1350), 29 

CFR 4050, and PBGC’s Missing Participants Program forms and instructions 

(Schedule MP and Instructions). Information on the Missing Participants 

Program is available on PBGC’s Web site at: www.pbgc.gov/practitioners/

missing-participants. Missing Participants Program forms and instructions 

are available on PBGC’s Web site at: www.pbgc.gov/docs/mp_form_092804.

pdf and www.pbgc.gov/docs/MP_instructions_092804.pdf.

PBGC Penalties, Relief from Penalties, and Deadline Extensions – See 

ERISA section 4007 (29 U.S.C. 1307) and ERISA section 4071 

(29 U.S.C. 1371), 29 CFR Part 4007 and 29 CFR Part 4071. 

Information on PBGC penalties for late premium payments 

under ERISA section 4007 is available on PBGC’s Web site at 

www.pbgc.gov/practitioners/premium-filings/late-payment-charges.
PBGC’s Customer Service Pledge

Our customers deserve our best efforts as well 

as our respect and courtesy.

On the first call from you, our customer, we will say:

What can be done immediately and what will take longer,

When it will be done, and

Who will handle your request.

We will call you if anything changes from what we 

first told you, give you a status report, and explain 

what will happen next.

We will have staff available from 8:00 a.m. - 5:00 p.m. Eastern 

Time, Monday - Friday to answer your calls. 

If you leave a message, 

we will return your call within one work day.

We will acknowledge your letters within one week of receipt.
Pension Benefit Guaranty Corporation

1200 K Street NW

Washington, DC 20005-4026

www.pbgc.gov

PBGC Publication 1008 

rev. September 2009