Federal Register / Vol. 80, No. 64 / Friday, April 3, 2015 / Proposed Rules 18171 

intentional falsification will be referred 

to an appropriate FAA office for further 

handling. The FAA may use such 

reports for enforcement purposes, and 

will refer such reports to law 

enforcement agencies, if appropriate. To 

withhold information in these 

circumstances would be inconsistent 

with the agency’s safety responsibilities 

because it could prevent, or at least 

diminish the FAA’s ability to effectively 

address egregious misconduct. 

f. Summary of how the FAA will 

distinguish information protected under 

part 193 from information the FAA 

receives from other sources. 

All employee SAFER–FCT and 

ATSAP–X reports are clearly labeled as 

such. Each employee must submit their 

own report. 

5. Designation 

The FAA designates the information 

described in paragraph 5b to be 

protected from disclosure in accordance 

with 49 U.S.C., section 40123 and 14 

CFR part 193. 

Issued in Washington, DC on March 27, 

2015. 

Michael P. Huerta, 

Administrator, Federal Aviation 

Administration. 

[FR Doc. 2015–07743 Filed 4–2–15; 8:45 am] 

BILLING CODE 4910–13–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

26 CFR Part 1 

[REG–133489–13] 

RIN 1545–BL76 

Allocation of Controlled Group 

Research Credit 

AGENCY: Internal Revenue Service (IRS), 

Treasury. 

ACTION: Notice of proposed rulemaking 

by cross-reference to temporary 

regulations and notice of public hearing. 

SUMMARY: This document contains 

proposed regulations relating to the 

allocation of the group credit. The 

proposed regulations will affect certain 

taxpayers claiming the credit. In the 

Rules and Regulations section of this 

issue of the Federal Register, the IRS is 

issuing temporary regulations providing 

guidance relating to the allocation of the 

credit for increasing research activities 

(research credit) to corporations and 

trades or businesses under common 

control (controlled groups). The 

temporary regulations also contain rules 

relating to the allocation of the railroad 

track maintenance credit (RTMC) and 

the election for a reduced research 

credit. The text of the temporary 

regulations also serves as the text of 

these proposed regulations. 

DATES: Comments and requests for a 

public hearing must be received by July 

2, 2015. 

ADDRESSES: Send submissions to: 

CC:PA:LPD:PR (REG–133489–13), Room 

5203, Internal Revenue Service, P.O. 

Box 7604, Ben Franklin Station, 

Washington, DC 20044. Submissions 

may be hand delivered Monday through 

Friday between the hours of 8 a.m. and 

4 p.m. to: CC:PA:LPD:PR (REG–133489– 

13), Courier’s Desk, Internal Revenue 

Service, 1111 Constitution Avenue NW., 

Washington, DC. Submissions may also 

be sent electronically via the Federal 

eRulemaking Portal at 

www.regulations.gov (IRS REG–133489– 

13). The public hearing will be held in 

the IRS Auditorium, Internal Revenue 

Building, 1111 Constitution Avenue 

NW., Washington, DC. 

FOR FURTHER INFORMATION CONTACT: 

Concerning the regulations, James A. 

Holmes, (202) 317–4137; concerning 

submission of comments, the hearing, 

and/or to be placed on the building 

access list to attend the hearing, 

Oluwafunmilayo (Funmi) Taylor at 

(202) 317–6901 (not toll-free numbers). 

SUPPLEMENTARY INFORMATION: 

Background 

Temporary regulations in the Rules 

and Regulations section of this issue of 

the Federal Register amend the Income 

Tax Regulations (26 CFR part 1) relating 

to section 41. The temporary regulations 

amend §§ 1.41–6,1.45G–1, and 1.280C– 

4. The regulations are being prescribed 

to update the regulations in a manner 

that is consistent with the amendments 

made to sections 41(f)(1)(A)(ii) and 

41(f)(1)(B)(ii) in Section 301(c) of the 

Act. The text of the temporary 

regulations also serves as the text of 

these proposed regulations. The 

preamble to those regulations explains 

the amendments. 

Special Analyses 

It has been determined that this notice 

of proposed rulemaking is not a 

significant regulatory action as defined 

in Executive Order 12866. Therefore, a 

regulatory assessment is not required. It 

also has 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 the 

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 Internal Revenue 

Code, this notice of proposed 

rulemaking will be submitted to the 

Chief Counsel for Advocacy of the Small 

Business Administration for comment 

on their impact on small business. 

Comments and Public Hearing 

Before these proposed regulations are 

adopted as final regulations, 

consideration will be given to any 

comments that are submitted timely to 

the IRS. The Treasury Department and 

the IRS request comments on all aspects 

of the proposed rules. All comments 

will be available at www.regulations.gov 

or upon request. 

A public hearing will be scheduled if 

requested in writing by any person that 

timely submits written comments. If a 

public hearing is scheduled, notice of 

the date, time, and place for the public 

hearing will be published in the Federal 

Register. 

Drafting Information 

The principal author of these 

regulations is James A. Holmes, Office 

of Associate Chief Counsel 

(Passthroughs and Special Industries), 

IRS. However, other personnel from the 

IRS and Treasury Department 

participated in their development. 

List of Subjects in 26 CFR Part 1 

Income taxes, Reporting and 

recordkeeping requirements. 

Proposed Amendments to the 

Regulations 

Accordingly, 26 CFR part 1 is 

proposed to be 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 * * * 

Section 1.41–6 also issued under 26 U.S.C. 

41(f)(1) * * * 

Section 1.45G–1 also issued under 26 

U.S.C. 45G(e)(2) * * * 

Section 1.280C–4 also issued under 26 

U.S.C. 280C(c)(4) * * * 

■ Par. 2. Section 1.41–6 is amended to 

read as follows: 

§ 1.41–6. Aggregation of expenditures. 

[The text of the amendments to this 

proposed section is the same as the text 

of § 1.41–6T published elsewhere in this 

issue of the Federal Register]. 

■ Par. 3. Section 1.45G–1 is amended to 

read as follows: 

§ 1.45G–1. Railroad track maintenance 

credit. 

[The text of the amendments to this 

proposed section is the same as the text 


asabaliauskas on DSK5VPTVN1PROD with PROPOSALS
18172 Federal Register / Vol. 80, No. 64 / Friday, April 3, 2015 / Proposed Rules 

1 Division O of the Consolidated and Further 

Continuing Appropriations Act, 2015, Public Law 

No. 113–235, enacted December 16, 2014. 

of § 1.45G–1T published elsewhere in 

this issue of the Federal Register]. 

■ Par. 4. Section 1.280C–4 is amended 

to read as follows. 

§ 1.280C–4. Credit for increasing research 

activities. 

[The text of the amendments to this 

proposed section is the same as the text 

of § 1.280C–4T published elsewhere in 

this issue of the Federal Register]. 

John M. Dalrymple, 

Deputy Commissioner for Services and 

Enforcement. 

[FR Doc. 2015–07380 Filed 4–2–15; 8:45 am] 

BILLING CODE 4830–01–P 

PENSION BENEFIT GUARANTY 

CORPORATION 

29 CFR Parts 4000, 4041A, and 4281 

RIN 1212–AB28 

Multiemployer Plans; Electronic Filing 

Requirements 

AGENCY: Pension Benefit Guaranty 

Corporation. 

ACTION: Proposed rule. 

SUMMARY: The Pension Benefit Guaranty 

Corporation (PBGC) is proposing to 

amend its regulations to require 

electronic filing of certain 

multiemployer notices. These changes 

would make the provision of 

information to PBGC more efficient and 

effective. 

DATES: Comments must be submitted on 

or before June 2, 2015. 

ADDRESSES: Comments, identified by 

Regulation Identifier Number (RIN) 

1212–AB28, may be submitted by any of 

the following methods: 

• Federal eRulemaking Portal: http:// 

www.regulations.gov. Follow the Web 

site instructions for submitting 

comments. 

• Email: reg.comments@pbgc.gov. 

• Fax: 202–326–4112. 

• Mail or Hand Delivery: Regulatory 

Affairs Group, Office of the General 

Counsel, Pension Benefit Guaranty 

Corporation, 1200 K Street NW., 

Washington, DC 20005–4026. 

All submissions must include the 

Regulation Identifier Number for this 

rulemaking (RIN 1212–AB28). 

Comments received, including personal 

information provided, will be posted to 

www.pbgc.gov. Copies of comments may 

also be obtained by writing to 

Disclosure Division, Office of the 

General Counsel, Pension Benefit 

Guaranty Corporation, 1200 K Street 

NW., Washington DC 20005–4026, or 

calling 202–326–4040 during normal 

business hours. (TTY and TDD users 

may call the Federal relay service tollfree at 1–800–877–8339 and ask to be 

connected to 202–326–4040.) 

FOR FURTHER INFORMATION CONTACT: 

Catherine B. Klion (klion.catherine@

pbgc.gov), Assistant General Counsel for 

Regulatory Affairs, or Donald McCabe 

(mccabe.donald@pbgc.gov), Attorney, 

Office of the General Counsel, Pension 

Benefit Guaranty Corporation, 1200 K 

Street NW., Washington, DC 20005– 

4026; 202–326–4024. (TTY/TDD users 

may call the Federal relay service tollfree at 1–800–877–8339 and ask to be 

connected to 202–326–4024.) 

SUPPLEMENTARY INFORMATION: 

Executive Summary 

Purpose of the Regulatory Action 

This proposed rule is part of PBGC’s 

ongoing implementation of the 

Government Paperwork Elimination Act 

and is consistent with the Office of 

Management and Budget’s directive to 

remove regulatory impediments to 

electronic transactions. The proposal 

builds in flexibility to allow PBGC to 

update the electronic filing process as 

technology advances. 

PBGC’s legal authority for this 

regulatory action comes from section 

4002(b)(3) of the Employee Retirement 

Income Security Act of 1974 (ERISA), 

which authorizes PBGC to issue 

regulations to carry out the purposes of 

title IV of ERISA; section 4041A(f)(2), 

which gives PBGC authority to prescribe 

reporting requirements for terminated 

plans; section 4245(e)(4), which 

authorizes PBGC to issue regulations on 

notices related to insolvency and 

resource benefit levels; and section 

4281(d), which directs PBGC to 

prescribe by regulation the notice 

requirements to plan participants and 

beneficiaries in the event of a benefit 

suspension under an insolvent plan. 

This proposed rule does not involve 

any conforming amendments reflecting 

the Multiemployer Pension Reform Act 

of 2014 (MPRA).1 PBGC expects to 

address such changes in a future 

rulemaking. 

Major Provisions of the Regulatory 

Action 

This proposed rule would require the 

following notices to be filed 

electronically with PBGC: notices of 

termination under part 4041A, notices 

of insolvency and of insolvency benefit 

level under parts 4245 and 4281, and 

applications for financial assistance 

under part 4281. 

Background 

The Pension Benefit Guaranty 

Corporation (PBGC) is a federal 

corporation created under the Employee 

Retirement Income Security Act of 1974 

(ERISA) to guarantee the payment of 

pension benefits earned by more than 41 

million American workers and retirees 

in nearly 24,000 private-sector defined 

benefit pension plans. PBGC 

administers two insurance programs— 

one for single-employer defined benefit 

pension plans and a second for 

multiemployer defined benefit pension 

plans. 

The multiemployer program protects 

benefits of approximately 10 million 

workers and retirees in approximately 

1,400 plans. A multiemployer plan is a 

collectively bargained pension 

arrangement involving two or more 

unrelated employers, usually in a 

common industry such as construction 

or trucking, where workers move from 

employer to employer on a regular basis. 

Under PBGC’s multiemployer program, 

when a plan becomes insolvent, PBGC 

provides financial assistance directly to 

the insolvent plan sufficient to pay 

guaranteed benefits to participants and 

beneficiaries, and the reasonable and 

necessary administrative expenses of 

the insolvent plan. 

Multiemployer Plan Notices 

ERISA section 4041A provides for two 

types of multiemployer plan 

terminations: mass withdrawal and plan 

amendment. A mass withdrawal 

termination occurs when all employers 

withdraw or cease to be obligated to 

contribute to the plan. A plan 

amendment termination occurs when 

the plan adopts an amendment that 

provides that participants will receive 

no credit for service with any employer 

after a specified date, or an amendment 

that makes it no longer a covered plan. 

Unlike terminated single-employer 

plans, terminated multiemployer plans 

generally continue to pay all vested 

benefits out of existing plan assets and 

withdrawal liability payments. PBGC’s 

regulation on Termination of 

Multiemployer Plans (29 CFR part 

4041A) implements these provisions, 

among other things by requiring the 

plan sponsor of a terminated 

multiemployer plan to file with PBGC a 

notice of termination containing basic 

information necessary to alert PBGC to 

possible demands on the multiemployer 

insurance program. 

ERISA section 4245(e) requires two 

types of notice: 

• Notice of insolvency, which states a 

plan sponsor’s determination that the 

plan is or may become insolvent. 


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