Federal Register / Vol. 79, No. 217 / Monday, November 10, 2014 / Rules and Regulations 66617 

of property between corporations (for 

example, gain required to be recognized 

under section 367 or 1001). This 

clarifying, non-substantive change 

confirms that except as provided in 

§ 1.312–10, in all other cases in which 

property is transferred from one 

corporation to another, no allocation of 

earnings and profits is made. 

Special Analyses 

It has been determined that this 

Treasury decision is not a significant 

regulatory action as defined in 

Executive Order 12866, as 

supplemented by Executive Order 

13563. Therefore, a regulatory 

assessment is not required. It has also 

been determined that section 553(b) of 

the Administrative Procedure Act (5 

U.S.C. chapter 5) does not apply to these 

regulations, and because these 

regulations do not impose a collection 

of information on small entities, the 

Regulatory Flexibility Act (5 U.S.C. 

chapter 6) does not apply. Pursuant to 

section 7805(f) of the Code, the notices 

of proposed rulemaking that preceded 

these regulations were submitted to the 

Chief Counsel for Advocacy of the Small 

Business Administration for comment 

on their impact on small business, and 

no comments were received. 

Drafting Information 

The principal author of these 

regulations is Stephanie D. Floyd of the 

Office of Associate Chief Counsel 

(Corporate). Other personnel from the 

IRS and the Treasury Department 

participated in their development. 

List of Subjects in 26 CFR Part 1 

Income taxes, Reporting and 

recordkeeping requirements. 

Adoption of Amendments to the 

Regulations 

Accordingly, 26 CFR part 1 is 

amended as follows: 

PART 1—INCOME TAXES 

■ Paragraph 1. The authority citation 

for part 1 continues to read in part as 

follows: 

Authority: 26 U.S.C. 7805 * * * 

■ Par. 2. Section 1.312–11 is amended 

by revising paragraph (a) and adding 

paragraph (e) to read as follows: 

§ 1.312–11 Effect on earnings and profits 

of certain other tax-free exchanges, tax-free 

distributions, and tax-free transfers from 

one corporation to another. 

(a) In a transfer described in section 

381(a), the acquiring corporation, as 

defined in § 1.381(a)–1(b)(2), and only 

that corporation, succeeds to the 

earnings and profits of the distributor or 

transferor corporation (within the 

meaning of § 1.381(a)–1(a)). Except as 

provided in § 1.312–10, in all other 

cases in which property is transferred 

from one corporation to another, no 

allocation of the earnings and profits of 

the transferor is made to the transferee. 

* * * * * 

(e) Effective/applicability date. 

Paragraph (a) of this section applies to 

transactions occurring on or after 

November 10, 2014. 

■ Par. 3. Section 1.381(a)–1 is amended 

by: 

■ a. Removing the third, fourth, and 

fifth sentences of paragraph (b)(2)(i) and 

adding one sentence in their place. 

■ b. Removing from the last sentence of 

paragraph (b)(2)(ii) Example 2 ‘‘Y’’ and 

adding ‘‘X’’ in its place. 

■ c. Redesignating paragraph (b)(3)(i) as 

paragraph (b)(3). 

■ d. Removing paragraph (b)(3)(ii). 

■ e. Adding a sentence at the end of 

paragraph (e). 

The additions read as follows: 

§ 1.381(a)–1 General rule relating to 

carryovers in certain corporate 

acquisitions. 

* * * * * 

(b) * * * 

(2) * * * (i) * * * In a transaction to 

which section 381(a)(2) applies, the 

acquiring corporation is the corporation 

that, pursuant to the plan of 

reorganization, directly acquires the 

assets transferred by the transferor 

corporation, even if that corporation 

ultimately retains none of the assets so 

transferred. 

* * * * * 

(e) * * * The last sentence of 

paragraph (b)(2)(i) of this section and 

Example 2 of paragraph (b)(2)(ii) of this 

section apply to transactions occurring 

on or after November 10, 2014. 

§ 1.381(c)(2)–1 [Amended] 

■ Par. 4. Section 1.381(c)(2)-1 is 

amended by removing paragraph (d). 

John Dalrymple, 

Deputy Commissioner for Services and 

Enforcement. 

Approved: October 17, 2014. 

Mark J. Mazur, 

Assistant Secretary of the Treasury (Tax 

Policy). 

[FR Doc. 2014–26546 Filed 11–7–14; 8:45 am] 

BILLING CODE 4830–01–P 

DEPARTMENT OF LABOR 

Employee Benefits Security 

Administration 

29 CFR Part 2520 

RIN 1210–AB66 

Revisions to Annual Return/Report— 

Multiple-Employer Plans 

AGENCY: Employee Benefits Security 

Administration, Labor. 

ACTION: Interim final rule with request 

for comments. 

SUMMARY: This interim final rule 

describes revisions to the Form 5500 

Annual Return/Report of Employee 

Benefit Plan and Form 5500–SF Annual 

Return/Report of Small Employee 

Benefit Plan (together ‘‘Form 5500 

Annual Return/Report’’) to implement 

annual reporting changes for multipleemployer plans required by The 

Cooperative and Small Employer 

Charity Pension Flexibility Act (CSEC 

Act), enacted on April 7, 2014. The 

Form 5500 annual return/report is filed 

by employee benefit plans under the 

Employee Retirement Income Security 

Act of 1974 (ERISA) and sections 

6047(e), 6057(b), 6058(a), and 6059 of 

the Internal Revenue Code (Code). The 

CSEC Act established additional annual 

reporting requirements for multipleemployer plans for plan years beginning 

after December 31, 2013, by adding new 

section 103(g) to Title I of ERISA. 

Specifically, the annual return/report of 

a multiple-employer plan must include 

a list of participating employers and a 

good faith estimate of the percentage of 

total contributions made by each 

participating employer during the plan 

year. This interim final rule also 

includes findings by the Department of 

Labor (Department) under the 

Administrative Procedure Act that good 

cause exists to adopt these revisions on 

an interim final basis without prior 

notice and public comments. 

DATES: Effective Date. This interim final 

rule is effective on November 10, 2014. 

Comment Date. Comments are due on 

or before January 9, 2015. We will 

consider public comments in 

connection with publishing a final rule 

that would apply no earlier than the 

2015 Form 5500. 

Applicability Dates. The multipleemployer plan reporting requirements 

under the CSEC Act apply to plan years 

beginning after December 31, 2013, 

which created an immediate need for 

changes to the Form 5500 and Form 

5500–SF. Accordingly, the CSEC Act 

form changes in this document will be 

applicable beginning with the 2014 


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66618 Federal Register / Vol. 79, No. 217 / Monday, November 10, 2014 / Rules and Regulations 

1The Government Accountability Office also 

recommended that the Form 5500 be used to collect 

information about participating employers in 

multiple employer plans. See GAO Report to the 

Chairman, United States Senate Committee on 

Health, Education, Labor, and Pensions, entitled 

‘‘PRIVATE SECTOR PENSIONS: Federal Agencies 

Should Collect Data and Coordinate Oversight of 

Multiple Employer Plans,’’ GAO 12–665 (Sept. 

2012). 

2This document is limited to the annual 

reporting changes required by section 104(c) of the 

CSEC Act and does not address possible guidance 

on completing the Schedule SB to reflect 

modifications to the minimum funding 

requirements made by the CSEC Act for multipleemployer plans affected by those modifications. 

Form 5500 Annual Returns/Reports 

filed for plan years beginning after 

December 31, 2013. 

ADDRESSES: Written comments may be 

submitted to any of the addresses 

specified below. All comments will be 

made available to the public. Warning: 

Do not include any personally 

identifiable information (such as name, 

address, or other contact information) or 

confidential business information that 

you do not want publicly disclosed. All 

comments are posted on the Internet 

exactly as received, and can be retrieved 

by most Internet search engines. No 

deletions, modifications, or redactions 

will be made to the comments received, 

as they are public records. Comments 

may be submitted anonymously. 

Comments to the Department of 

Labor, identified by RIN 1210–AB66, by 

one of the following methods: 

Federal eRulemaking Portal: http://

www.regulations.gov. Follow the 

instructions for submitting comments. 

Email: E–ORI@dol.gov with Subject 

Line: RIN 1210–AB66—CSEC Act Form 

5500 Interim Final Rule. 

Mail or Hand Delivery: Office of 

Regulations and Interpretations, 

Employee Benefits Security 

Administration, Room N–5655, U.S. 

Department of Labor, 200 Constitution 

Avenue NW., Washington, DC 20210, 

Attention: RIN 1210–AB66—CSEC Act 

Form 5500 Interim Final Rule. 

Comments received by the 

Department of Labor will be posted 

without change to http://

www.regulations.gov and http://

www.dol.gov/ebsa and made available 

for public inspection at the Public 

Disclosure Room, N–1513, Employee 

Benefits Security Administration, 200 

Constitution Avenue NW., Washington, 

DC 20210. 

FOR FURTHER INFORMATION CONTACT: 

Mara S. Blumenthal, Employee Benefits 

Security Administration, U.S. 

Department of Labor, (202) 693–8523, 

for questions relating to this document. 

Note that this is not a toll-free number. 

Customer service information: 

Individuals interested in obtaining 

information from the Department of 

Labor concerning the Employee 

Retirement Income Security Act may 

call the EBSA Toll-Free Hotline at 1– 

866–444–EBSA (3272) or visit the 

Department of Labor’s Web site 

(www.dol.gov/ebsa). 

SUPPLEMENTARY INFORMATION: 

I. Background 

A. Form 5500 Annual Return/Report 

Section 103 of ERISA, 29 U.S.C. 1023, 

and the regulations issued under that 

section, impose annual reporting and 

filing obligations on pension and 

welfare benefit plans, including 

multiple-employer plans. Plan 

administrators, employers, and others 

generally satisfy these annual reporting 

obligations by the filing of the Form 

5500 Annual Return/Report of 

Employee Benefit Plan or Form 5500–SF 

Annual Return/Report of Small 

Employee Benefit Plan, including any 

required schedules and attachments, 

(together ‘‘Form 5500 Annual Return/

Report’’), in accordance with the 

instructions and related regulations. 

The Form 5500 Annual Return/Report 

is the principal source of information 

and data available to the Department, 

the Internal Revenue Service (IRS), and 

the Pension Benefit Guaranty 

Corporation (PBGC) concerning the 

operations, funding, and investments of 

pension and welfare benefit plans. The 

Form 5500 Annual Return/Report 

constitutes an integral part of each 

Agency’s enforcement, research, and 

policy formulation programs, and is a 

source of information and data for use 

by other federal agencies, Congress, and 

the private sector in assessing employee 

benefit, tax, and economic trends and 

policies. The Form 5500 Annual Return/ 

Report also serves as a primary means 

by which plan operations can be 

monitored by participants and 

beneficiaries and by the general public. 

B. Cooperative and Small Employer 

Charity Pension Flexibility Act and 

Additional Reporting Requirements for 

Multiple-Employer Plans 

The Cooperative and Small Employer 

Charity Pension Flexibility Act (CSEC 

Act), Public Law 113–97, 128 Stat. 1101, 

enacted on April 7, 2014, amended the 

funding rules for pension plans that are 

maintained by certain cooperatives or 

charities. In addition, the CSEC Act 

created additional annual reporting 

requirements for multiple-employer 

plans covered by Title I of ERISA. 

Specifically, section 104(c) of the CSEC 

Act amended section 103 of ERISA to 

require in section 103(g) that annual 

reports of multiple-employer plans 

include ‘‘a list of participating 

employers’’ and, with respect to each 

participating employer, ‘‘a good faith 

estimate of the percentage of total 

contributions made by such 

participating employers during the plan 

year.’’ 1 These additional reporting 

requirements apply generally to a 

multiple-employer plan regardless of 

whether the plan is affected by the 

modifications to the minimum funding 

requirements made by the CSEC Act.2

The effective date provisions in section 

3 of the CSEC Act make these new 

annual reporting requirements 

applicable for plan years beginning after 

December 31, 2013. 

The CSEC Act did not define the 

terms included in the new annual 

reporting requirement or otherwise 

explain the purpose or objectives of the 

requirement. In light of the fact that the 

CSEC Act directed changes to Form 

5500 reporting, the Department believes 

that it is appropriate to use existing 

Form 5500 definitions and requirements 

to implement the CSEC Act changes. 

This approach will also allow the 

Department to establish a uniform way 

for plan administrators and employers 

to comply with reporting requirements 

and ensure that consistent information 

about participating employers in 

multiple-employer plans is available to 

the public as part of the Form 5500 

information collection. 

In order to implement the CSEC Act 

requirements in a timely fashion, this 

interim final rule changes the Form 

5500 and Form 5500–SF generally for 

plan years beginning after December 31, 

2013. First, certain conforming revisions 

to Part I (Annual Report Identification 

Information) of the Form 5500 Annual 

Return/Report are being made to enable 

multiple-employer plans to comply with 

the new requirements imposed by 

section 104(c) of the CSEC Act. 

Specifically, Part I, line A—MultipleEmployer Plan, of the Form 5500 and 

Form 5500–SF currently provides a box 

to check if the Form 5500 or Form 

5500–SF is being filed for a multipleemployer plan. A parenthetical is being 

added next to the box that tells filers 

checking the box that they must attach 

a list of participating employers and 

related information and directs them to 

the form instructions for further 

information and directions on the filing 

requirements for the attachment. 

The instructions to the Form 5500 and 

Form 5500–SF for that box are also 

being amended to include information 

and specific directions on completing 

and filing the required attachment. The 

instructions to the Form 5500 and Form 


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Federal Register / Vol. 79, No. 217 / Monday, November 10, 2014 / Rules and Regulations 66619 

3Unlike the Form 5500, which excludes multiple 

employer plans from the definition of singleemployer plans, ERISA section 3(41) defines all 

plans, with the sole exception of multiemployer 

plans, as single-employer plans. The Form 5500 

multiple-employer plan definition is the relevant 

definition for purposes of this interim final rule. 

5500–SF will now provide that the 

Annual Return/Report filed for a 

multiple-employer plan must include an 

attachment that identifies the 

participating employers in the plan by 

name and employer identification 

number (EIN) and includes for each 

participating employer an estimate of 

the percentage of the contributions 

made by each employer (including 

employer and participant contributions) 

relative to the total contributions made 

by all participating employers during 

the plan year. This attachment, entitled 

‘‘Multiple-Employer Plan Participating 

Employer Information,’’ supplements 

and does not replace other Form 5500 

filing requirements that apply to 

multiple-employer plans. 

For purposes of defining the 

employee benefit plans subject to the 

CSEC Act reporting requirement, the 

interim final rule uses the existing 

definition of ‘‘multiple-employer plan’’ 

in the instructions for the Form 5500 

Annual Return/Report. Specifically, a 

multiple-employer plan in this context 

is a plan that is maintained by more 

than one employer and is not a ‘‘single 

employer plan’’ or a ‘‘multiemployer 

plan’’ for Form 5500 filing purposes.3

Multiple-employer plans can be 

collectively bargained and collectively 

funded, but if covered by PBGC 

termination insurance, they must have 

properly elected before September 27, 

1981, not to be treated as a 

multiemployer plan under Code section 

414(f)(5) or ERISA sections 3(37)(E) and 

4001(a)(3), and have not revoked that 

election or made an election to be 

treated as a multiemployer plan under 

Code section 414(f)(6) or ERISA section 

3(37)(G). A plan is treated as a singleemployer plan for Form 5500 purposes 

if all of the employers maintaining the 

plan are members of the same controlled 

group or affiliated service group under 

Code sections 414(b), (c), or (m). See 

Form 5500 and Form 5500–SF 

Instructions for Line A—Box (available 

at www.dol.gov/ebsa/

5500main.html#2013). 

Although the CSEC Act was focused 

on amendments to the funding rules for 

certain defined benefit pension plans, 

the annual reporting amendment to 

section 103 of ERISA did not limit the 

new reporting requirement to defined 

benefit pension plans. Rather, the new 

requirement applies generally to ‘‘any 

multiple-employer plan.’’ Accordingly, 

the interim final rule adds instructions 

for the Form 5500 and Form 5500–SF 

requiring all multiple-employer plans 

(defined benefit pension plans, defined 

contribution plans, and welfare plans) 

required to file the Form 5500 or Form 

5500–SF to include with their annual 

report the new ‘‘Multiple-Employer Plan 

Participating Employer Information’’ 

attachment. The form instructions 

further provide that welfare plans that 

are exempt under 29 CFR 2520.104–44 

from the obligation to file financial 

statements with their annual report are 

required to include a ‘‘MultipleEmployer Plan Participating Employer 

Information’’ attachment, but are 

permitted to report only a list of 

participating employers in the 

attachment filed with their Form 5500 

Annual Return/Report. 

The CSEC Act required information to 

be reported on ‘‘participating 

employers.’’ That term, however, was 

not defined in the CSEC Act, and it is 

not otherwise defined in Title I of 

ERISA or used elsewhere in ERISA 

section 103 or the Department’s 

regulations implementing the ERISA 

annual reporting requirements. 

However, the Department has used the 

term ‘‘participating employer’’ in other 

contexts generally to describe employers 

that are obligated to make contributions 

to a plan, made contributions to the 

plan, or whose employees are covered 

under the plan. See, e.g., DOL Advisory 

Opinion 81–44A. The Department uses 

a similar concept in its regulation on 

content requirements for summary plan 

descriptions (SPD), 29 CFR 2520.102–3. 

Specifically, 29 CFR 2520.102–3(b)(4) 

requires that the SPD of a plan 

established or maintained by two or 

more employers must contain a 

statement that a complete list of the 

employers sponsoring the plan may be 

obtained by participants and 

beneficiaries on request and a statement 

that the list is available for examination 

by participants and beneficiaries at the 

plan administrator’s office. The term 

‘‘sponsoring employer’’ includes 

employers that are obligated to make 

contributions to a plan or whose 

employees are covered under the plan. 

Accordingly, because employee benefit 

plans must maintain a list of employers 

that are obligated to make contributions 

to the plan or whose employees are 

covered under the plan, the Department 

believes that interpreting the term 

‘‘participating employer’’ to include all 

employers that are obligated to make 

contributions to the plan, that make 

contributions to the plan, or whose 

employees are covered under the plan 

would be consistent with the CSEC Act 

annual reporting changes and the least 

burdensome alternative for filers. 

In addition to requiring disclosure of 

a list of participating employers, the 

CSEC Act requires ‘‘a good faith 

estimate of the percentage of total 

contributions made by such 

participating employers during the plan 

year.’’ In the case of many employee 

benefit plans, in addition to employer 

contributions, participants (and in some 

cases beneficiaries) may pay amounts to 

the employer for contribution to the 

plan and the employer may withhold 

amounts from wages or other 

compensation for contribution to the 

plan. Under Title I of ERISA, the 

Department generally classifies such 

contributions as ‘‘employee 

contributions’’ or ‘‘participant 

contributions,’’ while under the Internal 

Revenue Code such contributions may 

be classified for some purposes as 

‘‘employer contributions.’’ The Form 

5500 Annual Return/Report generally 

follows the Title I classification system 

and includes several distinct reporting 

requirements that call for employer and 

participant contributions to be 

accounted for and reported separately. 

The Department believes that the CSEC 

Act should be interpreted consistently 

with existing Form 5500 Annual 

Return/Report requirements regarding 

contributions and require that multipleemployer plans include both employer 

and participant contributions in 

calculating the percentage of each 

employer’s contributions relative to 

those made by all participating 

employers. Particularly in the case of 

defined contribution and welfare plans, 

requiring reporting of both employer 

and participant contributions will help 

the Department better understand the 

role of each participating employer in 

the overall funding of the plan. 

The Department similarly believes the 

‘‘during the plan year’’ concept should 

be interpreted consistent with other 

financial reporting requirements on the 

Form 5500 Annual Return/Report. The 

instructions for the Form 5500 Annual 

Return/Report allow filers to report 

financial information using ‘‘the cash, 

modified cash, or accrual basis for 

recognition of transactions, as long as 

you use one method consistently.’’ A 

literal interpretation of the phrase 

‘‘during the plan year’’ might suggest 

that Congress intended that the CSEC 

percentage calculation be done using a 

cash basis. There is nothing in the CSEC 

Act, however, that indicates that 

Congress intended to impose such a 

burden on plans that currently use an 

accrual approach to measuring 

contributions for the plan year. In fact, 

elsewhere in the Form 5500 the 


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66620 Federal Register / Vol. 79, No. 217 / Monday, November 10, 2014 / Rules and Regulations 

4The Department estimates that 5,527 multiple 

employer plans are subject to the requirements of 

the CSEC Act Amendment (280 defined benefit 

plans, 4,739 defined contribution plans, and 508 

welfare plans). 

Department has used the terms ‘‘during 

the plan year’’ and ‘‘for the plan year’’ 

interchangeably in a way that allows 

plans to use cash or accrual approaches 

to recognizing contribution amounts. 

Specifically, the Schedule R requires 

that multiemployer plans report the 

dollar amount contributed by each 

employer that contributed more than 

five percent (5%) of total contributions 

to the plan ‘‘during the plan year 

(measured in dollars).’’ The instructions 

state that the plan should enter 

information for any employer that 

contributed more than five percent (5%) 

of the plan’s total contributions ‘‘for the 

plan year.’’ Accordingly, in the 

Department’s view, it is an appropriate 

reading of the CSEC Act requirements to 

allow filers to use the same method 

(cash, modified cash, or accrual) for 

calculating the good faith estimate that 

they use for recognizing other financial 

transactions on the Form 5500 Annual 

Return/Report. 

II. Good Cause for Exemption From 

Public Notice and Comment and 

Immediate Effective Date 

To issue an interim final rule without 

prior public notice and comment, an 

agency must find good cause that notice 

and comment are impracticable, 

unnecessary, or contrary to the public 

interest. 5 U.S.C. 553(b). To issue a rule 

that is immediately effective, an agency 

similarly must find good cause for 

dispensing with the 30-day delay 

required by the Administrative 

Procedure Act (APA). The multipleemployer plan reporting requirements 

under the CSEC Act apply to plan years 

beginning after December 31, 2013, thus 

creating an immediate need for changes 

to the Form 5500 and Form 5500–SF. 

Without these changes to the Form 5500 

and related instructions, multipleemployer plans would have no uniform 

way to comply with the CSEC Act 

requirements and nor would there be 

any assurance that uniform information 

about participating employers in 

multiple-employer plans would be 

available to the public. In addition, the 

Department would be hampered in its 

ability to comply with the Congressional 

directive in the CSEC Act to collect the 

reported information. Moreover, only 

multiple-employer plans, which are a 

relatively small percentage of Form 

5500 Annual Return/Report filers, are 

affected by this change,4 and the 

requirements are limited in scope to the 

information specifically required under 

the CSEC Act. 

Further, reporting the basic 

information about participating 

employers required by the CSEC Act 

should not be burdensome for multipleemployer plans because they are already 

required to maintain a list of 

participating employers and records of 

the contributions made by each 

employer. As noted above, the 

Department’s regulation on content 

requirements for summary plan 

descriptions, 29 CFR 2520.102–3, 

requires in the case of a plan established 

or maintained by two or more 

employers that the SPD contain a 

statement that a complete list of the 

employers sponsoring the plan may be 

obtained by participants and 

beneficiaries on request and a statement 

that the list is available for examination 

by participants and beneficiaries at the 

plan administrator’s office. In addition, 

the Form 5500 Annual Return/Report 

currently requires that plans report 

information on employer and 

participant contributions as part of the 

financial information required to be 

filed. Section 107 of ERISA requires the 

plan administrator to keep records in 

sufficient detail to allow the information 

on the Form 5500 Annual Return/Report 

to be ‘‘verified, explained, or clarified, 

and checked for accuracy and 

completeness.’’ In the Department’s 

view, this would require the plan to 

keep records sufficient to identify the 

participating employers and the amount 

of the contributions attributable to each 

individual employer, participant or 

beneficiary. 

The Department thus finds for good 

cause that it would be impracticable and 

contrary to the public interest to delay 

putting the above described revisions to 

the Form 5500 and Form 5500–SF 

required by the CSEC Act into place 

until completion of a full notice and 

public comment process. For the same 

reasons, the Department also finds good 

cause to adopt an effective date that 

would be less than 30 days after the 

publication in the Federal Register 

pursuant to the APA. 5 U.S.C. 553(d). 

The adoption of the changes affecting 

the 2014 Form 5500 Annual Return/

Report will be effective as of the date of 

publication of this document in the 

Federal Register. The same or related 

information for multiple-employer plans 

will continue to be required to be 

provided on the 2015 and later Form 

5500 Annual Returns/Reports, but for 

2015 and later, the format for providing 

this information may be different. 

Although the revisions in this 

document will be effective beginning 

with the 2014 Form 5500 and 2014 

Form 5500–SF, and related instructions, 

the Department seeks comments on this 

interim final rule. The comments will be 

considered in connection with final 

revisions that will be adopted in 

connection with the 2015 or later year 

forms. 

III. Executive Order 12866 

This Interim Final Regulation does 

not constitute a ‘‘significant regulatory 

action’’ for purposes of Executive Order 

12866. Therefore, this action has not 

been reviewed by OMB pursuant to the 

Executive Order. 

IV. Paperwork Reduction Act 

In accordance with the requirements 

of the Paperwork Reduction Act of 1995 

(PRA) (44 U.S.C. 3501 et seq.), the Form 

5500 information collection request 

(ICR) has been approved by OMB under 

control number 1210–0110, which 

currently is scheduled to expire on 

April 30, 2015. On September 8, 2014, 

the Department submitted an ICR 

revision reflecting the CSEC Act 

revision to OMB utilizing the emergency 

PRA clearance procedures in 

accordance with 5 CFR 1320.13. OMB 

approved the emergency submission on 

October 7, 2014. 

Based on data from the 2012 Form 

5500 filings (the latest year for which 

complete data are available), the 

Department estimates that 5,527 

multiple-employer plans are subject to 

the requirements of the CSEC Act 

amendment (280 defined benefit plan, 

4,739 defined contribution plans, and 

508 welfare plans). The Department 

assumes that plan administrators will 

comply with the new requirements; 

therefore, the entire burden is hour 

burden. 

Reporting the basic information about 

participating employers required by the 

CSEC Act should not be burdensome for 

multiple-employer plan administrators, 

because as discussed in detail above, 

current requirements under ERISA 

already require them to maintain a list 

of participating employers and records 

of the contributions made by each 

employer. Therefore, the Department 

assumes that on average, it will take a 

financial professional thirty (30) 

minutes to comply the CSEC Act 

amendments by creating an attachment 

containing the list of participating 

employers, their EINs, and their 

percentage of total plan contributions. 

Based on the foregoing, the Department 

estimates that 5,527 multiemployer plan 

administrators will spend 

approximately 2,764 hours complying 

with the CSEC Act requirements at an 

equivalent cost of approximately 

$173,000 (2,764 hours times $69 for the 


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Federal Register / Vol. 79, No. 217 / Monday, November 10, 2014 / Rules and Regulations 66621 

5The Department calculated the hourly labor rate 

using published survey data from the Bureau of 

Labor Statistics, Occupational Employment 

Statistics Survey (May 2013), and Employment Cost 

Index (March 2014) to estimate the cost of benefits 

in total compensation. A calculation of the 2014 

hourly labor cost for financial professionals was 

estimated at $69 an hour including wage, benefits, 

and overhead. 

services of an in-house financial 

professional).5

The OMB emergency approval expires 

on April 30, 2015. Therefore, 

contemporaneously with the 

publication of the interim final rule, the 

Department has published a notice 

elsewhere in this issue of the Federal 

Register informing the public of its 

intention to extend the OMB approval 

for three years. The notice solicits 

comments on the revisions to the ICR 

and provides the public with 60 days to 

comment as required by 5 CFR 

1320.8(d). 

V. Changes to the Form 5500 and Form 

5500–SF and Instructions 

On the Form 5500 and Form 5500–SF, 

in ‘‘Part I Annual Report Identification 

Information’’—Box for MultipleEmployer Plan add the following 

parenthetical: 

(Filers checking this box must attach a list of 

participating employer information in 

accordance with the form instructions). 

In the Form 5500 Instructions for Part 

I Annual Report Identification 

Information—Box for MultipleEmployer Plan add the following 

instructions as a new second paragraph: 

Except as provided below, multipleemployer pension plans and multipleemployer welfare plans required to file a 

Form 5500 must include an attachment using 

the format below that (1) lists each 

participating employer in the plan during the 

plan year, identified by name and employer 

identification number (EIN), and (2) includes 

a good faith estimate of each employer’s 

percentage of the total contributions 

(including employer and participant 

contributions) made by all participating 

employers during the year. Any employer 

who was obligated to make contributions to 

the plan for the plan year, made 

contributions to the plan for the plan year, 

or whose employees were covered under the 

plan is a ‘‘participating employer’’ for this 

purpose. If a participating employer made no 

contributions, enter ‘‘-0-’’ in element (c). 

The attachment must be properly 

identified at the top with the label ‘‘MultipleEmployer Plan Participating Employer 

Information,’’ and the name of the plan, EIN, 

and plan number (PN) as found on the plan’s 

Form 5500. 

Multiple-employer welfare plans that are 

exempt under 29 CFR § 2520.104–44 from the 

obligation to file financial statements with 

their annual report are required to include 

only a list of participating employers with 

the corresponding EIN/PN numbers in 

elements (a) and (b) of the ‘‘MultipleEmployer Plan Participating Employer 

Information’’ attachment included with their 

Form 5500. 

Complete as many entries as needed to 

report the required information for all 

participating employers. 

MULTIPLE-EMPLOYER PLAN PARTICIPATING EMPLOYER INFORMATION

[Insert Name of Plan and EIN/PN as shown on the Form 5500] 

(a) Name of participating employer .................................................... (b) EIN ......................................... (c) Percent of Total Contributions. 

(a) Name of participating employer .................................................... (b) EIN ......................................... (c) Percent of Total Contributions. 

In the Form 5500–SF Instructions for 

Part I Annual Report Identification 

Information—Box for MultipleEmployer Plan add the following 

instructions as a new second paragraph: 

Multiple-employer pension plans required 

to file a Form 5500–SF must include an 

attachment using the format below that (1) 

lists each participating employer in the plan 

during the plan year, identified by name and 

employer identification number (EIN), and 

(2) includes a good faith estimate of each 

employer’s percentage of the total 

contributions (including employer and 

participant contributions) made by all 

participating employers during the year. Any 

employer who was obligated to make 

contributions to the plan for the plan year, 

made contributions to the plan for the plan 

year, or whose employees were covered 

under the plan is a ‘‘participating employer’’ 

for this purpose. If a participating employer 

made no contributions, enter ‘‘-0-’’ in 

element (c). 

The attachment must be properly 

identified at the top with the label ‘‘MultipleEmployer Plan Participating Employer 

Information,’’ and the name of the plan, EIN, 

and plan number (PN) as found on the plan’s 

Form 5500–SF. 

Complete as many entries as needed to 

report the required information for all 

participating employers. 

MULTIPLE-EMPLOYER PLAN PARTICIPATING EMPLOYER INFORMATION

[Insert Name of Plan and EIN/PN as shown on the Form 5500-SF] 

(a) Name of participating employer .................................................... (b) EIN ......................................... (c) Percent of Total Contributions. 

(a) Name of participating employer .................................................... (b) EIN ......................................... (c) Percent of Total Contributions. 

Signed at Washington, DC, this 30th day of 

October 2014. 

Phyllis C. Borzi, 

Assistant Secretary, Employee Benefits 

Security Administration, U.S. Department of 

Labor. 

[FR Doc. 2014–26498 Filed 11–7–14; 8:45 am] 

BILLING CODE P 

DEPARTMENT OF HOMELAND 

SECURITY 

Coast Guard 

33 CFR Part 117 

[Docket No. USCG–2014–0960] 

Drawbridge Operation Regulation; Gulf 

Intracoastal Waterway, Belle Chasse, 

LA 

AGENCY: Coast Guard, DHS. 

ACTION: Notice of deviation from 

drawbridge regulation. 

SUMMARY: The Coast Guard has issued a 

temporary deviation from the operating 

schedule that governs the Louisiana 

State Route 23 (SR 23) vertical lift span 

bridge, also known as the Judge Perez 

Bridge, across the Gulf Intracoastal 

Waterway (Algiers Alternate Route), 

mile 3.8, at Belle Chasse, Plaquemines 

Parish, Louisiana. This deviation is 

necessary to provide for the safe 

movement of vehicular traffic during 

major plant reconstruction on one side 

of the waterway and the resulting 

change in work schedule and increase 

in workforce transiting the bridge. This 


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