Source: http://www.law.cornell.edu/uscode/text/26/6059?qt-us_code_tabs=0
Timestamp: 2014-08-29 20:08:16
Document Index: 54669642

Matched Legal Cases: ['§ 6059', '§ 6059', '§ 6059', '§ 1033', '§ 1906', '§ 114', '§ 202', '§ 202', '§ 202', '§ 114', '§ 114', 'art 1', '§ 1033', '§ 2']

26 U.S. Code § 6059 - Periodic report of actuary | LII / Legal Information Institute
U.S. Code › Title 26 › Subtitle F › Chapter 61 › Subchapter A › Part III › Subpart E › § 6059 26 U.S. Code § 6059 - Periodic report of actuary
General rule The actuarial report described in subsection (b) shall be filed by the plan administrator (as defined in section 414(g) of each defined benefit plan to which section 412 applies, for the first plan year for which section 412 applies to the plan and for each third plan year thereafter (or more frequently if the Secretary determines that more frequent reports are necessary).
Actuarial report The actuarial report of a plan required by subsection (a) shall be prepared and signed by an enrolled actuary (within the meaning of section 7701
(a)(35)) and shall contain—
a description of the funding method and actuarial assumptions used to determine costs under the plan,
a certification of the contribution necessary to reduce the minimum required contribution determined under section 430, the accumulated funding deficiency under section 433, or the accumulated funding deficiency determined under section 431, to zero,
the requirements for reasonable actuarial assumptions under section 430
(h)(1), 431
(c)(3), or 433(c)(3), whichever are applicable, have been complied with.
such other information as may be necessary to fully and fairly disclose the actuarial position of the plan, and
such other information regarding the plan as the Secretary may by regulations require.
Time and manner of filing The actuarial report and statement required by this section shall be filed at the time and in the manner provided by regulations prescribed by the Secretary.
Cross reference For coordination between the Department of the Treasury and the Department of Labor with respect to the report required to be filed under this section, see section 3004 of title III of the Employee Retirement Income Security Act of 1974.
(Added Pub. L. 93–406, title II, § 1033(a),Sept. 2, 1974, 88 Stat. 947; amended Pub. L. 94–455, title XIX, § 1906(b)(13)(A),Oct. 4, 1976, 90 Stat. 1834; Pub. L. 109–280, title I, § 114(f),Aug. 17, 2006, 120 Stat. 855; Pub. L. 113–97, title II, § 202(c)(10),Apr. 7, 2014, 128 Stat. 1138.)
2014—Subsec. (b)(2). Pub. L. 113–97, § 202(c)(10)(A), substituted “430, the accumulated funding deficiency under section 433,” for “430,”.
Subsec. (b)(3)(B). Pub. L. 113–97, § 202(c)(10)(B), substituted “430(h)(1), 431(c)(3), or 433(c)(3)” for “430(h)(1) or 431(c)(3)”.
2006—Subsec. (b)(2). Pub. L. 109–280, § 114(f)(1), substituted “the minimum required contribution determined under section 430, or the accumulated funding deficiency determined under section 431,” for “the accumulated funding deficiency (as defined in section 412
Subsec. (b)(3)(B). Pub. L. 109–280, § 114(f)(2), added subpar. (B) and struck out former subpar. (B) which read as follows: “the requirements of section 412
(c) (relating to reasonable actuarial assumptions) have been complied with,”.
Amendment by Pub. L. 109–280applicable to plan years beginning after 2007, see section 114(g)(1) ofPub. L. 109–280, as added by Pub. L. 110–458, set out as a note under section 401 of this title.
Requirements of section applicable only with respect to plan years to which part I of subtitle A of title II of Pub. L. 93–406applies, see section 1034(1) ofPub. L. 93–406, set out as an note under section 6057 of this title. For a description of the plan years to which part 1 applies, see section 1017 ofPub. L. 93–406, set out as an Effective Date; Transitional Rules note under section 410 of this title.
Pub. L. 93–406, title X, § 1033(c),Sept. 2, 1974, 88 Stat. 948, as amended by Pub. L. 99–514, § 2,Oct. 22, 1986, 100 Stat. 2095, provided that: “The Secretary of the Treasury and the Secretary of Labor shall take such steps as may be necessary to assure coordination to the maximum extent feasible between the actuarial reports required by section 6059 of the Internal Revenue Code of 1986 and by section 103(d) of title I of the Employee Retirement Income Security Act of 1974 [section 1023
(d) of Title 29, Labor].”