Source: http://spotidoc.com/doc/53756/reporting-and-disclosure-guide-for-employee-benefit-plans
Timestamp: 2018-07-23 04:22:24
Document Index: 63487175

Matched Legal Cases: ['§\n2520', '§ 2520', '§ 2520', '§ 2560', '§ 2520', '§\n2520', '§ 2520', '§ 2520', '§ 2520', '§ 2520', '§ 2590', '§ 2590', '§ 2590', '§\n2590', '§\n2590', '§ 2590', '§\n2590', '§ 2590', '§ 2590', '§ 2520', '§ 609', '§ 609', '§ 2590', '§ 105', '§ 209', '§ 2530', '§ 101', '§ 206', '§ 54', '§\n204', '§ 4980', '§ 101', '§ 2550', '§ 101', '§ 2520', '§\n2550', '§ 514', '§ 2550', '§ 514', '§ 514', '§\n514', '§ 101', '§ 104', '§ 101', '§ 2520', '§ 101', '§ 101', '§ 101', '§ 101', '§ 204', '§\n101', '§2550', '§ 2550', '§ 432', '§\n2550', '§ 2550', '§ 2550', '§ 4006', 'arts 4006', '§ 4041', 'arts 4041', '§ 4041', '§ 4042', '§ 4043', 'art 4043', '§ 4043', 'art 4043', '§ 302', 'art 4043', '§ 4062', '§ 4010', 'art 4010', 'art 7', '§ 2510', 'art 7']

For a complete list of EBSA publications, call toll-free:
This material will be made available to sensory impaired individuals upon request:
Voice phone: (202) 693-8664
This booklet constitutes a small entity compliance guide
for purposes of the Small Business Regulatory Enforcement Fairness Act of 1996.
Guide for Employee
This Reporting and Disclosure Guide for Employee Benefit Plans
has been prepared by the U.S. Department of Labor’s Employee
Benefits Security Administration (EBSA) with assistance from
the Pension Benefit Guaranty Corporation (PBGC). It is intended
to be used as a quick reference tool for certain basic reporting
and disclosure requirements under the Employee Retirement
Income Security Act of 1974 (ERISA). Not all ERISA reporting and
disclosure requirements are reflected in this guide. For example,
the guide, as a general matter, does not focus on disclosures
required by the Internal Revenue Code or the provisions of ERISA
for which the Treasury Department and Internal Revenue Service
have regulatory and interpretive authority.
The guide contains, on page 21, a list of EBSA and PBGC resources,
including agency Internet sites, where laws, regulations, and
other guidance are available on ERISA’s reporting and disclosure
requirements. Readers should refer to the law, regulations,
instructions for any applicable form, or other oﬃcial guidance
issued by EBSA or the PBGC for complete information on ERISA’s
This guide contains three chapters. The first chapter, beginning on
page 2, provides an overview of the most common disclosures that
administrators of employee benefit plans are required to furnish
to participants, beneficiaries, and certain other individuals under
Title I of ERISA. The chapter has three sections: Basic Disclosure
Requirements for Pension and Welfare Benefit Plans; Additional
Disclosure Requirements for Welfare Benefit Plans That Are Group
Health Plans; and Additional Disclosure Requirements for Pension
The second chapter, beginning on page 12, provides an overview of
reporting and disclosure requirements for defined benefit pension
plans under Title IV of ERISA. The PBGC administers these
provisions. The chapter focuses primarily on single-employer plans
and has four sections. The first section - Pension Insurance Premiums
- applies to covered single-employer and multiemployer defined
benefit plans. The last three sections - Standard Terminations,
Distress Terminations, and Other Reports - apply only to covered
single-employer defined benefit plans.
The third chapter, beginning on page 16, provides an overview of
the Form 5500 and Form M-1 Annual Reporting requirements. The
chapter consists of the following quick reference charts: Pension and
Welfare Benefit Plan Form 5500 Quick Reference Chart and Form M-1
This Department of Labor publication is intended to improve public
access to information about the reporting and disclosure rules under
ERISA. It has been updated as of August 2013. This publication
does not reflect the Patient Protection and Aﬀordable Care Act
(Aﬀordable Care Act) except for the multiple employer welfare
arrangement provisions. For information on the requirements
under the Aﬀordable Care Act, including the notice and disclosure
requirements, please visit EBSA’s Aﬀordable Care Act web page at
http://www.dol.gov/ebsa/healthreform/. Please be sure to check for
current laws and regulations on the other reporting and disclosure
provisions included in this publication on EBSA’s website at
Primary vehicle for informing participants
and beneficiaries about their plan and how
it operates. Must be written for average
participant and be suﬃciently comprehensive
to apprise covered persons of their benefits,
rights, and obligations under the plan. Must
accurately reflect the plan’s contents as of
the date not earlier than 120 days prior to
the date the SPD is disclosed. See 29 CFR §§
2520.102-2 and 2520.102-3 for style, format,
and content requirements.
Participants and those pension plan
beneficiaries receiving benefits. (Also see
“Plan Documents” below for persons with
the right to obtain SPD upon request).
Describes material modifications to a plan
and changes in the information required to
be in the SPD. Distribution of updated SPD
satisfies this requirement. See 29 CFR
§ 2520.104b-3.
the right to obtain SMM upon request).
Automatically to participants and pension
plan beneficiaries receiving benefits; not
later than 210 days after the end of the
plan year in which the change is adopted.
Narrative summary of the Form 5500. See 29
CFR § 2520.104b-10(d) for prescribed format.
beneficiaries receiving benefits. For plan
the SAR is no longer required for defined
benefit pension plans, which now instead
provide the annual funding notice (see
plan beneficiaries receiving benefits within
9 months after end of plan year, or 2
months after due date for filing Form 5500
(with approved extension).
(Claims Notices or “Explanation of
Benefits”)
Information regarding benefit claim
determinations. Adverse benefit
determinations must include required
disclosures (e.g., the specific reason(s)
for the denial of a claim, reference to the
specific plan provisions on which the benefit
determination is based, and a description of
the plan’s appeal procedures).
Claimants (participants and beneficiaries or
authorized claims representatives).
Requirements vary depending on type of
plan and type of benefit claim involved.
See 29 CFR § 2560.503-1 for prescribed
claims procedures requirements.
The plan administrator must furnish
copies of certain documents upon written
request and must have copies available for
examination. The documents include the
latest updated SPD, latest Form 5500, trust
agreement, and other instruments under
which the plan is established or operated.
Participants and beneficiaries. Also
see 29 CFR § 2520.104a-8 regarding
the Department’s authority to request
Copies must be furnished no later
than 30 days after a written request.
Plan administrator must make copies
available at its principal oﬃce and certain
other locations as specified in 29 CFR §
2520.104b-1(b).
See 29 CFR § 2520.102-2(c) for provisions on
foreign language assistance when a certain
portion of plan participants are literate only
in the same non-English language.
Automatically to participants within
90 days of becoming covered by the
plan and to pension plan beneficiaries
within 90 days after first receiving
benefits. However, a plan has 120 days
after becoming subject to ERISA to
distribute the SPD. Updated SPD must be
furnished every 5 years if changes made
to SPD information or plan is amended.
Otherwise must be furnished every 10
years. See 29 CFR § 2520.104b-2.
Summary of Material Reduction in
Covered Services or Benefits
Summary of group health plan amendments
and changes in information required to be
in SPD that constitute a “material reduction
in covered services or benefits.” See 29 CFR
§ 2520.104b-3(d)(3) for definitions.
Generally within 60 days of adoption of
material reduction in group health plan
services or benefits. See 29 CFR
§ 2520.104b-3(d)(2) regarding 90-day
alternative rule for furnishing the required
Notice of the right to purchase temporary
extension of group health coverage when
coverage is lost due to a qualifying event.
For more information, see EBSA’s booklet
An Employer’s Guide to Group Health
Continuation Coverage Under COBRA. See
29 CFR § 2590.606-1.
When group health plan coverage
Notice to “qualified beneficiaries” of
their right to elect COBRA coverage
upon occurrence of qualifying event. For
more information, see EBSA’s booklet
29 CFR § 2590.606-4.
Covered employees, covered spouses,
and dependent children who are qualified
The administrator must generally provide
qualified beneficiaries with this notice,
generally within 14 days after being
notified by the employer or qualified
beneficiary of the qualifying event. If the
employer is also the plan administrator,
the administrator must provide the notice
not later than 44 days after: the date on
which the qualifying event occurred;
or if the plan provides that COBRA
continuation coverage starts on the date
of loss of coverage, the date of loss of
coverage due to a qualifying event.
Notice that an individual is not entitled to
COBRA coverage. See 29 CFR § 2590.6064(c).
Individuals who provide notice to the
administrator of a qualifying event whom
the administrator determines are not eligible
for COBRA coverage.
The administrator must provide this
notice generally within 14 days after being
notified by the individual of the qualifying
Notice of Early Termination of COBRA
Notice that a qualified beneficiary’s COBRA
coverage will terminate earlier than the
maximum period of coverage. See 29 CFR §
2590.606-4(d).
Qualified beneficiaries whose COBRA
maximum period of coverage.
administrator’s determination that
coverage will terminate.
Certificate of Creditable Coverage4
Notice from employee’s former group
health plan documenting prior group health
plan creditable coverage. See 29 CFR §
2590.701-5(a)(3)(ii) for information required
to be included on the certificate.
Participants and beneficiaries who lose
coverage or who request a certificate.
Automatically upon losing group health
plan coverage, becoming eligible for
COBRA coverage, and when COBRA
coverage ceases. A certificate may be
requested free of charge anytime prior to
losing coverage and within 24 months of
Condition Exclusion4
Notice describing a group health plan’s
preexisting condition exclusion and how
prior creditable coverage can reduce the
preexisting condition exclusion period.
See 29 CFR § 2590.701-3(e) for prescribed
Must be provided as part of any written
application materials distributed for
enrollment. If the plan or issuer does not
distribute such materials, by the earliest
date following a request for enrollment that
a plan or issuer, acting in a reasonable and
prompt fashion, can provide the notice.
Notice that a specific preexisting condition
exclusion period applies to an individual
upon consideration of creditable coverage
evidence and an explanation of appeal
procedures if the individual disputes
the plan’s determination. See 29 CFR §
2590.701-3(e) for prescribed requirements.
Participants and beneficiaries who
demonstrate creditable coverage that is not
enough to completely oﬀset the preexisting
As soon as possible following the
determination of creditable coverage.
Notice describing the group health plan’s
special enrollment rules including the right
to special enroll within 30 days of the loss
of other coverage or of marriage, birth of a
child, adoption, or placement for adoption.
See 29 CFR § 2590.701-6(c) for prescribed
requirements as well as a model notice.
Employees eligible to enroll in a group
At or before the time an employee is
initially oﬀered the opportunity to enroll in
Wellness Program Disclosure4
Notice given by any group health plan
oﬀering a wellness program that requires
individuals to meet a standard related
to a health factor in order to obtain a
reward. The notice must disclose the
availability of a reasonable alternative
standard (or possibility of waiver of the
otherwise applicable standard). See 29
CFR § 2590.702(f)(2)(v) for prescribed
requirements as well as model language.
Participants and beneficiaries eligible to
participate in a wellness program that
requires individuals to meet a standard
related to a health factor in order to obtain
In all plan materials that describe the
terms of the wellness program. If the plan
materials merely mention that a program is
available, without describing its terms, this
Preexisting Condition Exclusion4
Please refer to the Department’s regulations and other guidance for information on the extent to which charges may be assessed to cover the cost of furnishing particular information, statements, or documents to
participants and beneficiaries required under Title I of ERISA. See, e.g., 29 CFR § 2520.104b-30.
The term “group health plan” means an employee welfare plan to the extent that the plan provides medical care to employees or their dependents directly or through insurance, reimbursement or otherwise.
COBRA generally applies to group health plans of employers who employed 20 or more employees during the prior calendar year. Provisions of COBRA covering State and local government plans are administered by
the Department of Health and Human Services. COBRA does not apply to plans sponsored by certain church-related organizations.
For more information, see EBSA’s Compliance Assistance Guide: Health Benefits Coverage Under Federal Law.
(WHCRA) Notices4*
Notice describing required benefits for
mastectomy-related reconstructive surgery,
prostheses, and treatment of physical
complications of mastectomy.
Notice must be furnished upon enrollment
Notification from plan administrator
regarding receipt and qualification
determination on a MCSO directing the
plan to provide health insurance coverage
to a participant’s noncustodial children.
See ERISA § 609(a)(5)(A) for prescribed
Participants, any child named in a MCSO,
and his or her representative.
Administrator, upon receipt of MCSO,
must promptly issue notice (including
plan’s procedures for determining its
qualified status). Administrator must also
issue separate notice as to whether the
MCSO is qualified within a reasonable
time after its receipt.
National Medical Support (NMS)
Notice used by State agency responsible
for enforcing health care coverage
provisions in a MCSO. See ERISA § 609(a)
(5) and 29 CFR § 2590.609-2 for prescribed
requirements. Depending upon certain
conditions, employer must complete and
return Part A of the NMS notice to the State
agency or transfer Part B of the notice to the
plan administrator for a determination on
whether the notice is a qualified MCSO.
State agencies, employers, plan
administrators, participants, custodial
parents, children, representatives.
Employer must either send Part A
to the State agency, or Part B to plan
administrator, within 20 days after the
date of the notice or sooner, if reasonable.
Administrator must promptly notify
aﬀected persons of receipt of the notice
and the procedures for determining its
qualified status. Administrator must
within 40 business days after its date or
sooner, if reasonable, complete and return
Part B to the State agency and must also
provide required information to aﬀected
persons. Under certain circumstances,
the employer may be required to send
Part A to the State agency after the plan
administrator has processed Part B.
*See footnote 4 on page 4.
Content of statements varies depending on
the type of plan.
In general, at least once each quarter for
individual account plans that permit
participants to direct their investments;
at least once each year, in the case of
individual account plans that do not
permit participants to direct their
investments; and at least once every three
years in case of defined benefit plans or,
in the alternative, defined benefit plans
can satisfy this requirement if at least
once each year the administrator provides
notice of the availability of the pension
benefit statement and the ways to obtain
such statement. In addition, the plan
administrator of a defined benefit plan
must furnish a benefit statement to a
participant or beneficiary upon written
request, limited to one request during any
12-month period. In addition, the plan
administrator of an individual account
plan must furnish a benefit statement
upon request to a beneficiary that does not
receive statements automatically, limited
to one request during any 12-month
The plan administrator shall provide a
statement to participants upon request,
upon termination of service with the
employer, or after the participant has a
1-year break in service. Not more than
one statement shall be required in any
12-month period for statements provided
upon request. Not more than one
statement shall be required with respect to
consecutive 1-year breaks in service.
In general, all statements must indicate total
benefits and total nonforfeitable pension
benefits, if any, which have accrued, or
earliest date on which benefits become
Benefit statements for an individual account
plan must also provide the value of each
investment to which assets in the individual
account have been allocated.
Benefit statements for individual account
plans that permit participant investment
direction must also include an explanation
of any limitation or restriction on any right
of the participant or beneficiary under the
plan to direct an investment; an explanation
of the importance of a well-balanced and
diversified portfolio, including a statement
of the risk that holding more than 20
percent of a portfolio in the security of an
entity (such as employer securities) may
not be adequately diversified; and a notice
directing the participant or beneficiary to
the Internet website of the Department
of Labor for sources of information on
individual investing and diversification.
See ERISA § 105.
Statement of Accrued and
Statements of total accrued benefits and
total nonforfeitable pension benefits, if any,
which have accrued, or the earliest date on
which benefits become nonforfeitable. See
ERISA § 209.
Notice that benefit payments are being
suspended during certain periods of
employment or reemployment. See 29 CFR
§ 2530.203-3 for prescribed requirements.
During first month or payroll period
in which the withholding of benefit
payments occurs.
Notice of Transfer of Excess Pension
Assets to Retiree Health
Notification of transfer of defined benefit
plan excess assets to retiree health benefit
account. See ERISA § 101(e) for prescribed
Employer sponsoring pension plan
from which transfer is made must give
notice to the Secretaries of Labor and the
Treasury, each employee organization
representing plan participants, and the plan
administrator. Plan administrator must
notify each participant and beneficiary
Notices must be given not later than 60
days before the date of the transfer. The
employer notice also must be available
for inspection in the principal oﬃce of the
and Qualified Domestic Relations
Order (QDRO) Notices
Notifications from plan administrator
regarding its receipt of a DRO, and upon
a determination as to whether the DRO is
qualified. For more information see ERISA
§ 206(d)(3) and the EBSA booklet QDROs:
Through Qualified Domestic Relations
Participants, and alternate payees (i.e.,
spouse, former spouse, child, or other
dependent of a participant named in a DRO
as having a right to receive all or a portion
of the participant’s plan benefits).
Administrator, upon receipt of the DRO,
must promptly issue the notice (including
the plan’s procedures for determining
its qualified status). The second notice,
regarding whether the DRO is qualified,
must be issued within a reasonable
period of time after receipt of the DRO.
Notice of Significant Reduction in
Notice of plan amendments to defined
benefit plans and certain defined
contribution plans that provide for a
benefit accruals or the elimination or
significant reduction in an early retirement
benefit or retirement-type subsidy. See 26
CFR § 54.4980F-1 for further information.
Participants, alternate payees under a
QDRO, contributing employers, and certain
Except as provided in regulations
Treasury, notice must be provided
within a reasonable time, generally 45
days, before the eﬀective date of a plan
amendment subject to ERISA. See §
204(h) of ERISA and IRC § 4980F.
Notice of Failure to Meet Minimum
Notification of failure to make a required
installment or other plan contribution to
satisfy minimum funding standard within
60 days of contribution due date. (Not
applicable to multiemployer plans.) See
ERISA § 101(d) for more information.
Participants, beneficiaries, and alternative
payees under QDROs.
Must be furnished within a “reasonable”
period of time after the failure. Notice
is not required if a funding waiver is
requested in a timely manner; if waiver is
denied, notice must be provided within
60 days after the denial.
Investment-related and certain other
disclosures for participant-directed
individual account plans described in 29
CFR § 2550.404c-1, including blackout
notice for participant-directed individual
account plans described in ERISA section
404(c)(1)(A)(ii), as described below. Special
rules apply for qualified investment options
under ERISA section 404(c)(4)(C).
Certain information should be furnished
to participants or beneficiaries before the
time when investment instructions are
to be made; certain information must be
Notice of Blackout Period for
Notification of any period of more than
3 consecutive business days when there
is a temporary suspension, limitation or
restriction under an individual account plan
on directing or diversifying plan assets,
obtaining loans, or obtaining distributions.
Participants and beneficiaries of individual
account plans aﬀected by such blackout
periods and issuers of aﬀected employer
securities held by the plan.
Generally at least 30 days but not
more than 60 days advance notice. See
ERISA § 101(i) and 29 CFR § 2520.101-3
for further information on the notice
Alternative Notice*
Advance notice to participants and
beneficiaries describing the circumstances
under which contributions or other
assets will be invested on their behalf in a
the investment objectives of the qualified
default investment alternative, and the right
of participants and beneficiaries to direct
investments out of the qualified default
investment alternative. See 29 CFR §
2550.404c-5. See also ERISA § 514(e)(3).
Participants and beneficiaries on whose
behalf an investment in a QDIA may be
An initial notice must be furnished
at least 30 days in advance of the
date of plan eligibility, or at least 30
days in advance of the date of any
first investment in a qualified default
investment alternative on behalf of
a participant or beneficiary; or on or
before the date of plan eligibility if the
participant has the opportunity to make
a permissible withdrawal within the
first 90 days. Further, there is an annual
notice requirement within a reasonable
period of time of at least 30 days in
advance of each subsequent plan year.
See 29 CFR § 2550.404c-5.
A plan administrator of an automatic
contribution arrangement shall provide a
notice under ERISA § 514(e)(3). Generally,
this notice shall inform participants of
their rights and obligations under the
Each participant to whom the arrangement
applies. See ERISA § 514(e)(3).
The plan administrator of an automatic
contribution arrangement shall, within
a reasonable period before such plan
year, provide the notice. See ERISA §
514(e)(3).
Basic information about the status and
financial condition of the defined benefit
pension plan, including the plan’s funding
percentage; assets and liabilities; and a
description of the benefits guaranteed by
the PBGC. See ERISA § 101(f) and Field
Assistance Bulletin 2009-01.
Participants, beneficiaries receiving benefits,
each labor organization representing
participants under the plan, each employer
that has an obligation to contribute under
the plan, and PBGC.
Not later than 120 days after the plan
year for large plans. Small plans (100
or fewer participants) must furnish the
notice no later than the earlier of the
date on which the annual report is filed
or the latest date the annual report must
be filed (including extensions).
Certain financial information, such as
contribution schedules, benefit formulas,
number of employers obligated to
contribute, number of participants on
whose behalf no contributions were made
for a specified period of time, number of
withdrawing employers, and withdrawal
liability. See ERISA § 104(d).
Each employee organization and to
each employer that has an obligation to
Within 30 days after the due date of the
Use of the IRS sample Automatic Enrollment Notice posted on the IRS website may be used to satisfy these two notice requirements. See Field Assistance Bulletin 2008-03, Question 8.
Copies of periodic actuarial reports,
quarterly, semi-annual, or annual financial
reports, and amortization extension
applications. See ERISA § 101(k), and 29
CFR § 2520.101-6.
Participants, beneficiaries receiving
benefits, each labor organization
representing participants under the plan,
and each employer that has an obligation to
Within 30 days of written request.
Requester not entitled to receive
more than one copy of any report or
application during any 12-month period.
See ERISA § 101(k).
Multiemployer Plan Notice of
Estimated amount of employer’s
withdrawal liability and how such
estimated liability was determined. See
ERISA § 101(l).
Any employer who has an obligation to
Generally, within 180 days of a written
Notice of Funding-based Limitation
The plan administrator of a single-employer
or multiple employer defined benefit plan
must provide a notice of specified fundingbased limits on benefit accruals and benefit
distributions. See ERISA § 101(j).
Generally, within 30 days after a plan
becomes subject to a specified fundingbased limitation, as well as at any other
time determined by the Secretary of the
Treasury. See IRS Notice 2012-46.
Notice of right to sell company stock and
reinvest proceeds into other investments
available under the plan. Notice also must
describe the importance of diversifying the
investment of retirement account assets.
See ERISA § 101(m). IRS Notice 2006-107
provides a model notice.
Participants, alternate payees with accounts
under the plan, and beneficiaries of
deceased participants. See ERISA § 204(j).
Not later than 30 days before the first
date on which the individuals are eligible
to exercise their rights. See ERISA §
101(m).
Disclosures required for the
Fiduciary Safe Harbor for Automatic
Rollovers to Individual Retirement
Plans for Certain Mandatory
Distributions Exceeding $1,000.
In order to qualify for the safe harbor, a
plan fiduciary must furnish to participants
a summary plan description (SPD) or a
that describes the plan’s automatic rollover
provisions, including an explanation that
if a participant is subject to mandatory
distribution and fails to make an election
regarding a form of benefit distribution, the
participant’s account balance will be rolled
over into an individual retirement plan. See
29 CFR §2550.404a-2.
Separating participants subject to
mandatory distributions under the Internal
The disclosure by SPD or SMM must be
provided before mandatory distributions
are made, and will be suﬃcient if
provided in conjunction with the notice
required under Code section 402(f) which
must be provided to a plan participant no
less than 30 days and no more than 180
days before the date of a distribution.
See IRS Notice 2009-68.
Notice of Plan Termination pursuant
to the Safe Harbor for Distributions
from Terminated Individual
A plan fiduciary (including a qualified
termination administrator) must provide
a notice to participants and beneficiaries
of the plan’s termination and distribution
options and procedures to make an
election. In addition, the notice must
provide information about the account
balance; explain, if known, what fees, if
any, will be paid from the participant or
beneficiary’s retirement plan; and provide
of the individual retirement plan provider,
if known, and of the plan administrator or
other fiduciary from whom information
about the termination may be obtained. See
29 CFR § 2550.404a-3
Participants or beneficiaries in terminated
The notice will be given during
the winding up process of the plan
termination. Participants and
beneficiaries have 30 days from the
receipt of the notice to elect a form of
Notice of Critical or Endangered
The sponsor of a multiemployer defined
benefit pension plan must provide notice if
the plan is in critical or endangered status
because of funding or liquidity problems.
The notice must include an explanation
of the possibility that certain adjustable
benefits may be reduced. See IRC § 432.
Participants, beneficiaries, the bargaining
parties, PBGC, and the Department of
Not later than 30 days after the plan
actuary’s annual certification, if the
actuary certifies that the plan is in critical
or endangered status. For a model
critical status notice, see www.dol.gov/
ebsa/criticalstatusnotices.html.
Participant Plan and Investment Fee
information about the administrative
and investment costs of participation in
401(k)-type plans. This includes general
information about the mechanics and
structure of the plan, such as how to give
investment directions, and information
about the plan’s administrative costs
(e.g., recordkeeping, legal) and individual
charges that may be assessed to participants
(for loans, QDROs, etc.). This also includes
a comparative chart with information about
the plan’s investment options, including
investment fees and expenses, performance
and benchmark data, an active website
address with supplemental investment
information, and a glossary of terms to
assist participants in understanding the
plan’s investment options. See 29 CFR §
2550.404a-5.
Generally, participants and beneficiaries
with the authority to direct their own
investments in individual account plans.
General information about the plan and
potential administrative and individual
costs, as well as a “comparative chart” of
key information about plan investment
options, must be furnished annually.
On at least a quarterly basis, participants
must receive a statement of the dollar
amount of administrative and individual
fees that were charged to their accounts.
This information may, in certain
circumstances, be included in the plan’s
SPD and participants’ Periodic Pension
Certain plan service providers must
compensation, both direct and indirect, that
they will receive for providing services to
pension plans. Service providers also may
have to furnish information to assist plans
in complying with other ERISA reporting
and disclosure requirements (e.g., Form
5500 Annual Report, Participant Plan and
Investment Fee Disclosures). See 29 CFR
§ 2550.408b-2(c) for definitions of which
service providers must comply and the
specific disclosures that must be furnished.
Plan fiduciaries responsible for hiring
pension plan service providers.
Generally, disclosure must be furnished
to the plan fiduciary reasonably in
advance of entering into a contract or
See 29 CFR § 2550.408b-2(c) for
provisions on when changes or updates
to previously disclosed information must
be furnished by the service provider.
Section 1: Pension Insurance Premiums (for covered single-employer and multiemployer defined benefit plans)
(ERISA §§ 4006 and 4007; 29 CFR Parts 4006 and 4007)*
Estimated Premium Filing
Estimated flat-rate premium payment (with
supporting data) for plans with 500 or more
participants in prior plan year.
By last day of second full calendar
month following end of prior plan year.
Annual premium payment (with supporting
data) for all plans.
For plans with fewer than 100
participants in prior plan year, by
last day of 16th full calendar month
following end of the preceding
premium payment year (e.g., April 30,
2014 for 2013 calendar-year plans). For
plans with 100 or more participants in
prior plan year, by 15th day of the tenth
full calendar month following end of
prior plan year (e.g., October 15, 2013
for 2013 calendar-year plans).
Section 2: Standard Terminations (for covered single-employer defined benefit plans)
(ERISA §§ 4041 and 4050; 29 CFR Parts 4041 and 4050)
Advises of proposed termination and
provides information about the termination
Participants, beneficiaries, alternate payees,
At least 60 and no more than 90 days
before proposed termination date.
(If possible insurers not known at
this time, supplemental notice no
later than 45 days before distribution
Form 500 - Standard Termination Notice
provides plan data.
No later than 180 days after proposed
Provides information on each person’s
Participants, beneficiaries, and alternate
No later than the time Form 500
(Standard Termination Notice) is filed
*Note: Plans e-file for plan years beginning on or after January 1, 2007. To electronically submit premium filings and payments to the PBGC, use PBGC’s online application, My Plan
Administration Account (My PAA). My PAA and more information can be found at the PBGC’s Website (www.pbgc.gov) on the page for Practitioners under Premium Filings.
Form 501 - Post-Distribution
Certifies that distribution of plan assets has
been properly completed.
No later than the 30th day after
distribution of plan assets completed. (If
PBGC assesses a penalty, it will do so
only to the extent the form is filed more
than 90 days after distribution deadline,
including extensions.)
Advises of a participant or beneficiary
under a terminating plan whom the plan
administrator cannot locate.
Filed with Form 501. (See above for time
Section 3: Distress Terminations (for covered single-employer defined benefit plans)
Form 600 - Distress Termination
Advises of proposed termination,
demonstrates satisfaction of distress criteria,
and provides plan and sponsor/controlled
At least 60 days and (except with PBGC
approval) no more than 90 days before
Notice of Intent to Terminate to
Aﬀected Parties Other than PBGC
No later than the time Form 600 (Notice
of Intent to Terminate) is filed with
Disclosure of Termination
A plan administrator must disclose
information it has submitted to PBGC in
connection with a distress termination.
See ERISA § 4041(c)(2). (Note that a plan
administrator or a plan sponsor must
disclose information it has submitted to
PBGC in connection with a PBGC-initiated
termination. See ERISA § 4042(c)(3).)
No later than 15 days after (1) receipt of
a request from the aﬀected party for the
information; or (2) the provision of new
information to the PBGC relating to a
Notice of Request to Bankruptcy
Court to Approve Termination
Advises of sponsor’s/controlled group
member’s request to Bankruptcy Court
to approve plan termination based upon
reorganization test.
Concurrent with request to Bankruptcy
Form 601 - Distress Termination
Notice, Single-Employer Plan
Provides information on the plan and
whether ERISA Title IV benefits have been
No later than the 120th day after the
Form 602 - Post-Distribution
Certification for Distress
Certifies the distribution of plan assets has
been properly completed for a plan that is
suﬃcient for guaranteed benefits.
distribution of plan assets completed.
(If PBGC assesses a penalty, it will do
so only to the extent the form is filed
more than 90 days after the distribution
deadline, including extensions.)
administrator cannot locate. (This assumes
plan is suﬃcient for guaranteed benefits.)
Filed with Form 602. (See above for the
time limits.)
Form 10 - Post-Event Notice of
Requires submission of information relating
to event, plan, and controlled group for:
failure to make a required minimum
funding payment, active participant
reduction, change in contributing sponsor
or controlled group, application for funding
waiver, liquidation, bankruptcy, and
various other events. See ERISA § 4043 and
29 CFR Part 4043.
No later than 30 days after plan
administrator or contributing sponsor
knows (or has reason to know) the event
has occurred. (Extensions may apply)
Form 10-Advance - Advance Notice
of Reportable Events
to event, plan, and controlled group
for: change in contributing sponsor or
controlled group, liquidation, loan default,
transfer of benefit liabilities, and various
other events. This requirement applies to
privately held controlled groups with plans
having aggregate unfunded vested benefits
over $50 million and an aggregate funded
vested percentage under 90 percent. See
ERISA § 4043 and 29 CFR Part 4043.
At least 30 days in advance of eﬀective
date of event. (Extensions may apply)
Form 200 - Notice of Failure to
Make Required Contributions
to plan and controlled group where plan
has aggregate missed contributions of more
than $1 million. See ERISA § 302(f)(4) and
29 CFR Part 4043, subparts A and D.
No later than 10 days after contribution
Reporting of Substantial Cessation
of Operation and of Withdrawal of
Advises PBGC of certain cessations of
operation and of withdrawals of substantial
employers and requests determination of
liability. See ERISA §§ 4062(e) and 4063(a).
Annual Financial and Actuarial
Requires submission of actuarial and
financial information for certain controlled
groups with substantial underfunding. See
ERISA § 4010 and 29 CFR Part 4010.
No later than 105 days after the close
of the filer’s information year, with a
possible extension for certain required
actuarial information until 15 days after
filing deadline for annual report (Form
The Department of Labor, in conjunction with the Internal Revenue
Service (IRS) and the PBGC, publishes the Form 5500 Annual Return/
Report of Employee Benefit Plan and the Form 5500-SF Short Form
Annual Return/Report of Small Employee Benefit Plan. The Form 5500
series is used by plan administrators and certain “direct filing entities”
to satisfy various annual reporting obligations under ERISA and the
Direct filing entities, or DFEs, are investment or insurance arrangements
that plans participate in and that are required to or allowed to file the
Form 5500 directly with EBSA. DFEs include master trust investment
accounts (MTIAs), bank common/collective trusts (CCTs), insurance
pooled separate accounts (PSAs), 103-12 investment entities (103-12 IEs),
and group insurance arrangements (GIAs). MTIAs are the only DFE for
which the filing of the Form 5500 is mandatory. Employee benefit plans
that participate in a CCT, PSA, 103-12 IE, or GIA that files a Form 5500 as
a DFE are eligible for certain annual reporting relief in connection with
the plan’s own Form 5500 filing requirement.
All Forms 5500 and Forms 5500-SF must be filed electronically using the
ERISA Filing Acceptance System (EFAST2). Filers may file online using
EFAST2’s web-based IFILE filing system, or filers may file through an
EFAST2-approved vendor. All delinquent and amended filings of Title
I plans must also be submitted electronically through EFAST2. More
information about electronic filing under EFAST2 is available at www.
efast.dol.gov.
The Form 5500 filing requirements vary according to the type of filer.
There are three general types of Form 5500 filers: small plans (generally
plans with fewer than 100 participants as of the beginning of the plan
year); large plans (generally plans with 100 or more participants as of the
beginning of the plan year); and direct filing entities (DFEs). The Form
5500-SF is a simplified version of the Form 5500 that certain small plans
may be eligible to file instead of the Form 5500. A quick reference chart
for the 2012 Form 5500 immediately follows this section and describes
the basic Form 5500 filing requirements for small plans, large plans, and
DFEs. It also contains a description of the type of small plan that may be
eligible to file the Form 5500-SF.
The Form 5500-EZ cannot be submitted electronically through EFAST2.
However, a “one-participant” plan (see the instructions for the Form
5500-SF) that is eligible to file the Form 5500-EZ may elect to file the
Form 5500-SF electronically with EFAST2 rather than filing a Form 5500EZ on paper with the IRS. For more information on filing the Form 5500EZ on paper with the IRS, see the instructions for the Form 5500-EZ, at
www.irs.gov, or call 1-877-829-5500.
The Form 5500 and the Form 5500-SF filed by plan administrators and
the Form 5500 filed by GIAs are due by the last day of the 7th calendar
month after the end of the plan or GIA year (not to exceed 12 months
in length). See the Form 5500 and the Form 5500-SF instructions for
information on extensions up to an additional 2½ months. The Form
5500 filed by DFEs other than GIAs are due no later than 9½ months
after the end of the DFE year.
Certain employee benefit plans are exempt from the annual reporting
requirements or are eligible for limited reporting options. The major
classes of plans exempt from filing an annual report or eligible for
limited reporting are described in the Form 5500 and the Form 5500-SF
instructions. Eﬀective beginning with the 2013 plan year, all welfare
plans required to file Form M-1, Report for Multiple Employer Welfare
Arrangements (MEWAs) and Certain Entities Claiming Exception (ECEs),
must file an annual report in the Form 5500 Annual Return/Report series
regardless of plan size or type of funding. See 78 Fed. Reg. 13781, 13796,
13899 (Mar. 1, 2013).
Check the EFAST2 Internet site at www.efast.dol.gov and the latest Form
5500 and Form 5500-SF instructions for information on who is required
to file, how to complete the forms, when to file, EFAST2-approved
software, and electronic filing options. You can also visit http://www.dol.
gov/ebsa/5500main.html to view the Form 5500 and the Form 5500-SF.
Schedules and instructions are also posted on that web page.
Administrators of multiple employer welfare arrangements (MEWAs)
and certain other entities that oﬀer or provide coverage for medical care
to employees of two or more employers are generally required to file the
Form M-1 (Report for Multiple Employer Welfare Arrangements (MEWAs)
and Certain Entities Claiming Exception (ECEs)). The Form M-1 is filed with
EBSA and can be filed online at http://www.askebsa.dol.gov/mewa. A
quick reference chart on Reporting Requirements for MEWAs and ECEs
is on page 20. Also, check the EBSA Internet site at www.dol.gov/ebsa
for more information on the Form M-1.
Quick Reference Chart of Form 5500, Schedules, and Attachments (See Footnote 3 for Form 5500-SF Filers)1*
Small Pension Plan2
Small Welfare Plan2
Must complete.3
(Insurance Information)
Must complete if plan has
insurance contracts.4
Must complete if MTIA,
103-12 IE, or GIA has
Schedule C (Service
Provider Information)
Must complete Part I if
service provider was paid
$5,000 or more, Part II if
a service provider failed
completion of Part I, and
Part III if an accountant or
actuary was terminated.
MTIAs, GIAs, and
103-12 IEs must complete
Part I if service provider
paid $5,000 or more,
and Part II if a service
provider failed to provide
Part I. GIAs and 103-12
IEs must complete Part
III if accountant was
Schedule D (DFE/
Must complete Part I if plan
participated in a CCT, PSA,
MTIA, or 103-12 IE.
Must complete Part I
if plan participated in
a CCT, PSA, MTIA, or
103-12 IE.4
MTIA, or 103-12 IE.4
All DFEs must complete
Part II, and DFEs that
invest in a CCT, PSA,
or 103-12 IE must also
Schedule G (Financial
Must complete if Schedule
H, lines 4b, 4c, or 4d are
“Yes.”3
Must complete if
Schedule H, lines 4b, 4c,
or 4d for a GIA, MTIA, or
103-12 IE are “Yes.”
Schedule H (Financial
Must complete.5
Must complete.3, 5
Parts I, II, and III. MTIAs,
103-12 IEs, and GIAs
must also complete Part
Must complete.4
*See footnotes for certain exemptions and other technical requirements. All footnotes for this chart are on page 19.
multiemployer defined
benefit plan or money
purchase plan subject
to minimum funding
standards.6
(Pension Plan
Must complete.7
Must complete.4, 7
single-employer or
multiple-employer defined
benefit plan, including an
and subject to minimum
funding standards.
Must attach.3
Must attach for a GIA or
This chart provides only general guidance. Not all rules and requirements are reflected. Refer to specific Form 5500 instructions for complete information on filing requirements (e.g., Who Must File and What To File). For
example, a pension plan is exempt from filing any schedules if the plan uses Code section 408 individual retirement accounts as the sole funding vehicle for providing benefits. See Limited Pension Plan Reporting.
Pension plans and welfare plans with fewer than 100 participants at the beginning of the plan year that are not exempt from filing an annual return/report may be eligible to file the Form 5500-SF, a simplified report.
In addition to the limitation on the number of participants, a Form 5500-SF may only be filed for a plan that is exempt from the requirement that the plan’s books and records be audited by an independent qualified
public accountant (but not by reason of enhanced bonding), has 100 percent of its assets invested in certain secure investments with a readily determinable fair market value, holds no employer securities, and is not a
multiemployer plan. See Who Must File.
Except for small welfare plans that are also MEWAs, unfunded, fully insured, or combination unfunded/fully insured welfare plans covering fewer than 100 participants at the beginning of the plan year that meet the
requirements of 29 CFR 2520.104-20 are exempt from filing an annual report. See Who Must File. Such a plan with 100 or more participants must file an annual report, but is exempt under 29 CFR 2520.104-44 from the
accountant’s report requirement and completing Schedule H, but MUST complete Schedule G, Part III, to report any nonexempt transactions. See What To File.
Do not complete if filing the Form 5500-SF instead of the Form 5500.
Schedules of assets and reportable (5 percent) transactions also must be filed with the Form 5500 if Schedule H, line 4i or 4j is “Yes.”
Money purchase defined contribution plans that are amortizing a funding waiver are required to complete lines 3, 9, and 10 of the Schedule MB in accordance with the instructions. Also see instructions for line 5 of
Schedule R and line 12a of Form 5500-SF.
A pension plan is exempt from filing Schedule R if all of the following conditions are met:
The plan is not a defined benefit plan or otherwise subject to the minimum funding standards of Code section 412 or ERISA section 302.
No plan benefits that would be reportable on line 1 of Part I of this Schedule R were distributed during the plan year. See the instructions for Schedule R, Part I, line 1.
No benefits, as described in the instructions for Schedule R, Part I, line 2, were paid during the plan year other than by the plan sponsor or plan administrator. (This condition is not met if benefits were paid by the
trust or any other payor(s) which are reportable on IRS Form 1099-R, Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc., using an EIN other than that of the
plan sponsor or plan administrator reported on line 2b or 3b of Form 5500.)
Unless the plan is a profit-sharing, ESOP or stock bonus plan, no plan benefits of living or deceased participants were distributed during the plan year in the form of a single-sum distribution. See the instructions
for Schedule R, Part I, line 3.
The plan is not an ESOP.
The plan is not a multiemployer defined benefit plan.
MEWAs and ECEs Quick Reference Chart: Form M-1
Report for Multiple Employer Welfare
Arrangements (MEWAs) and Certain
Entities Claiming Exception (ECEs)
MEWA or ECE custodial and financial
information, States in which coverage is
provided, insurance information, number
of participants covered, information about
enforcement actions, and information about
compliance with Part 7 of ERISA, including
any litigation alleging non-compliance.
Administrators of MEWAs and ECEs that
oﬀer or provide coverage for medical care
to employees of two or more employers
(including one or more self-employed
individuals) are generally required to file the
Form M-1.
An ECE is an entity that claims it is not a
MEWA due to the exception in the definition
of MEWA for entities that are established and
maintained under or pursuant to one or more
agreements that the Secretary of Labor finds
to be collective bargaining agreements. For
more information on this exception, See 29
CFR § 2510.3-40.
Annual Report: Generally due by March 1st of the year
following the calendar year for which report is required.
A 60-day extension is available. For ECEs, an annual
report is required to be filed only if the ECE was last
originated within the 3 years before the annual filing due
MEWA Registration: Generally due upon the following
five events, should they occur: 30 days prior to operating
in any State; within 30 days of knowingly operating in
any additional State or States that were not indicated on
a previous Form M-1 filing; within 30 days of operating
with regard to the employees of an additional employer
(or employers, including one or more self-employed
individuals) after a merger with another MEWA; within
30 days of the date the number of employees receiving
coverage for medical care under the MEWA is at least 50
percent greater than the number of such employees on the
last day of the previous calendar year; or within 30 days
of experiencing a material change as defined in the Form
M-1 instructions. A MEWA may have to register more
than once during the reporting year.
ECE Origination: Generally due upon the following three
events, should they occur: 30 days prior to operating
with regard to the employees of two or more employers
(including one or more self-employed individuals); within
30 days from when ECE begins operating following a
merger with another ECE (unless all of the ECEs that
participate in the merger previously were last originated
at least three years prior to the merger); or within 30 days
from when the number of employees receiving coverage
for medical care under the ECE is at least 50 percent
greater than the number of such employees on the last
day of the previous calendar year (unless the increase is
due to a merger with another ECE under which all ECEs
that participate in the merger were last originated three
years prior to the merger). An ECE may be originated
more than once during the reporting year.
ECE Special Filing: Due within 30 days of a special filing
event described below, only if the ECE was last originated
within three years before a special filing event: the ECE
begins knowingly operating in any additional State or
States that were not indicated on a previous Form M-1
filing; or the ECE experiences a material change as defined
in the Form M-1 instructions. An ECE may experience a
special filing event more than once during the reporting
For more information about EBSA’s reporting and disclosure
requirements, contact:
For assistance completing the Form 5500, call the EFAST Help Line at
1-866-463-3278.
Compliance Assistance Guide: Health Benefits Coverage Under Federal
Describes the obligations of group health plans and group health
insurance issuers under Part 7 of Title I of ERISA, including sample
language that may be used to meet disclosure requirements.
These and other EBSA publications may be obtained from:
Toll-free number: 1- 866-444-3272
For assistance completing the Form M-1, call (202) 693-8360.
For information about PBGC’s reporting and disclosure requirements,
call 1-800-736-2444 or (202) 326-4242.
The following publications may be helpful in providing a more detailed
explanation on specific subject matter:
For premium-related questions, send an e-mail to [email protected]
An Employer’s Guide to Group Health Continuation Coverage Under
Provides a general explanation of the COBRA right to purchase a
temporary extension of group health insurance.
QDROs: The Division of Retirement Benefits Through Qualified
Addresses the division of retirement benefits during divorce or legal
Department 77840
Detroit, MI 48277-0840
For questions on standard terminations, send an e-mail to [email protected]
pbgc.gov or write to:
Standard Termination Compliance Division/
1200 K St., N.W., Suite 930
Focuses on how to avoid common reporting errors.
For questions on distress terminations and reportable events, send
an e-mail to [email protected], [email protected] (for
advance questions), or [email protected] (for post-event
questions), or write to:
For additional information, visit PBGC’s website: www.pbgc.gov.
E Answering Who, What, When, Where, Why … and How?
Preserving Multiemployer PensionsâPromises
How to Prepare for a Department of Labor or IRS Qualified Plan Audit B N
In the Supreme Court of the United States No. 12-52 AMICI CURIAE