Page 377 TITLE 29—LABOR § 1027

one report described in subsection (a) of this section during any one 12-month period.

(c) Individual statement furnished by administrator to participants setting forth information in administrator’s Internal Revenue registration statement and notification of forfeitable benefits

Each administrator required to register under

section 6057 of title 26 shall, before the expiration of the time prescribed for such registration,

furnish to each participant described in subsection (a)(2)(C) of such section, an individual

statement setting forth the information with respect to such participant required to be contained in the registration statement required by

section 6057(a)(2) of title 26. Such statement

shall also include a notice to the participant of

any benefits which are forfeitable if the participant dies before a certain date.

(d) Plans to which more than one unaffiliated

employer is required to contribute; regulations

Subsection (a) of this section shall apply to a

plan to which more than one unaffiliated employer is required to contribute only to the extent provided in regulations prescribed by the

Secretary in coordination with the Secretary of

the Treasury.

(Pub. L. 93–406, title I, §105, Sept. 2, 1974, 88 Stat.

849; Pub. L. 98–397, title I, §106, Aug. 23, 1984, 98

Stat. 1436; Pub. L. 101–239, title VII, §§7891(a)(1),

7894(b)(5), Dec. 19, 1989, 103 Stat. 2445, 2448.)

AMENDMENTS

1989—Subsec. (b). Pub. L. 101–239, §7894(b)(5), substituted ‘‘12-month’’ for ‘‘12 month’’.

Subsec. (c). Pub. L. 101–239, §7891(a)(1), substituted

‘‘Internal Revenue Code of 1986’’ for ‘‘Internal Revenue

Code of 1954’’, which for purposes of codification was

translated as ‘‘title 26’’ thus requiring no change in

text.

1984—Subsec. (c). Pub. L. 98–397 inserted at end ‘‘Such

statement shall also include a notice to the participant

of any benefits which are forfeitable if the participant

dies before a certain date.’’

EFFECTIVE DATE OF 1989 AMENDMENT

Amendment by section 7891(a)(1) of Pub. L. 101–239 effective, except as otherwise provided, as if included in

the provision of the Tax Reform Act of 1986, Pub. L.

99–514, to which such amendment relates, see section

7891(f) of Pub. L. 101–239, set out as a note under section

1002 of this title.

Amendment by section 7894(b)(5) of Pub. L. 101–239 effective, except as otherwise provided, as if originally

included in the provision of the Employee Retirement

Income Security Act of 1974, Pub. L. 93–406, to which

such amendment relates, see section 7894(i) of Pub. L.

101–239, set out as a note under section 1002 of this title.

EFFECTIVE DATE OF 1984 AMENDMENT

Amendment by Pub. L. 98–397 applicable to plan years

beginning after Dec. 31, 1984, except as otherwise provided, see sections 302 and 303 of Pub. L. 98–397, set out

as a note under section 1001 of this title.

REGULATIONS

Secretary of Labor authorized, effective Sept. 2, 1974,

to promulgate regulations wherever provisions of this

subchapter call for the promulgation of regulations by

him, see section 1031 of this title.

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in sections 1021, 1026, 1132

of this title.

§ 1026. Reports made public information

(a) Except as provided in subsection (b) of this

section, the contents of the annual reports,

statements, and other documents filed with the

Secretary pursuant to this part shall be public

information and the Secretary shall make any

such information and data available for inspection in the public document room of the Department of Labor. The Secretary may use the information and data for statistical and research

purposes, and compile and publish such studies,

analyses, reports, and surveys based thereon as

he may deem appropriate.

(b) Information described in sections 1025(a)

and 1025(c) of this title with respect to a participant may be disclosed only to the extent that

information respecting that participant’s benefits under title II of the Social Security Act [42

U.S.C. 401 et seq.] may be disclosed under such

Act.

(Pub. L. 93–406, title I, §106, Sept. 2, 1974, 88 Stat.

850; Pub. L. 101–239, title VII, §7894(b)(6), Dec. 19,

1989, 103 Stat. 2448; Pub. L. 105–34, title XV,

§1503(d)(4), Aug. 5, 1997, 111 Stat. 1062.)

REFERENCES IN TEXT

The Social Security Act, referred to in subsec. (b), is

act Aug. 14, 1935, ch. 531, 49 Stat. 620, as amended. Title

II of the Social Security Act is classified generally to

subchapter II (§401 et seq.) of chapter 7 of Title 42, The

Public Health and Welfare. For complete classification

of this Act to the Code, see section 1305 of Title 42 and

Tables.

AMENDMENTS

1997—Subsec. (a). Pub. L. 105–34 struck out ‘‘descriptions,’’ before ‘‘annual reports,’’.

1989—Subsec. (b). Pub. L. 101–239 substituted ‘‘sections’’ for ‘‘section’’.

EFFECTIVE DATE OF 1989 AMENDMENT

Amendment by Pub. L. 101–239 effective, except as

otherwise provided, as if originally included in the provision of the Employee Retirement Income Security

Act of 1974, Pub. L. 93–406, to which such amendment

relates, see section 7894(i) of Pub. L. 101–239, set out as

a note under section 1002 of this title.

§ 1027. Retention of records

Every person subject to a requirement to file

any report or to certify any information therefor under this subchapter or who would be subject to such a requirement but for an exemption

or simplified reporting requirement under section 1024(a)(2) or (3) of this title shall maintain

records on the matters of which disclosure is required which will provide in sufficient detail the

necessary basic information and data from

which the documents thus required may be verified, explained, or clarified, and checked for accuracy and completeness, and shall include

vouchers, worksheets, receipts, and applicable

resolutions, and shall keep such records available for examination for a period of not less

than six years after the filing date of the documents based on the information which they contain, or six years after the date on which such

documents would have been filed but for an exemption or simplified reporting requirement

under section 1024(a)(2) or (3) of this title.

(Pub. L. 93–406, title I, §107, Sept. 2, 1974, 88 Stat.

850; Pub. L. 105–34, title XV, §1503(d)(5), Aug. 5,

1997, 111 Stat. 1062.)