Reporting disclosure guide for employee benefit plans

Reporting and Disclosure Guide for EmployeeBenefit PlansU.S. Department of LaborEmployee Benefits Security Administration

Revised October 2008

IntroductionThis Reporting and Disclosure Guide for Employee Benefit Plans hasbeen prepared by the U.S. Department of Labor’s Employee BenefitsSecurity Administration (EBSA) with assistance from the PensionBenefit Guaranty Corporation (PBGC). It is intended to be used as aquick reference tool for certain basic reporting and disclosurerequirements under the Employee Retirement Income Security Act of1974 (ERISA). Not all ERISA reporting and disclosure requirements arereflected in this guide. For example, the guide, as a general matter, doesnot focus on disclosures required by the Internal Revenue Code or theprovisions of ERISA for which the Treasury Department and InternalRevenue Service have regulatory and interpretive authority.

The guide contains, on page 19, a list of EBSA and PBGC resources,including agency Internet sites, where laws, regulations, and otherguidance are available on ERISA’s reporting and disclosurerequirements. Readers should refer to the law, regulations, instructionsfor any applicable form, or other official guidance issued by EBSA or thePBGC for complete information on ERISA’s reporting and disclosurerequirements.

This guide contains three chapters. The first chapter, beginning on page2, provides an overview of the most common disclosures thatadministrators of employee benefit plans are required to furnish toparticipants, beneficiaries, and certain other individuals under Title Iof ERISA. The chapter has three sections: Basic DisclosureRequirements for Pension and Welfare Benefit Plans; AdditionalDisclosure Requirements for Welfare Benefit Plans That Are Group

Health Plans; and Additional Disclosure Requirements for PensionPlans.

The second chapter, beginning on page 10, provides an overview ofreporting and disclosure requirements for defined benefit pension plansunder Title IV of ERISA. The PBGC administers these provisions. Thechapter focuses primarily on single-employer plans and has foursections. The first section - Pension Insurance Premiums - applies tocovered single-employer and multiemployer defined benefit plans. Thelast three sections - Standard Terminations, Distress Terminations, andOther Reports - apply only to covered single-employer defined benefitplans.

The third chapter, beginning on page 14, provides an overview of theForm 5500 and Form M-1 Annual Reporting requirements. The chapterconsists of the following quick reference charts: Pension and WelfareBenefit Plan Form 5500 Quick Reference Chart; DFE Form 5500 QuickReference Chart; and Form M-1 Quick Reference Chart.

This Department of Labor publication is intended to improve publicaccess to information about the reporting and disclosure rules underERISA. We made every effort to ensure that the information presentedreflects current laws and final regulations as of July 2008. Please besure to check current laws and regulations on our website atwww.dol.gov/ebsa.

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Document Type of Information To Whom When

Overview of ERISA Title I Basic Disclosure Requirements1*

Summary Plan Description (SPD)

Summary of Material Modification(SMM)

Summary Annual Report (SAR)

Notification of Benefit Determination(claims notices or “explanation ofbenefits”)

Plan Documents

Primary vehicle for informing participantsand beneficiaries about their plan and how itoperates. Must be written for averageparticipant and be sufficiently comprehen-sive to apprise covered persons of theirbenefits, rights, and obligations under theplan. Must accurately reflect the plan’scontents as of the date not earlier than 120days prior to the date the SPD is disclosed.See 29 CFR §§ 2520.102-2 and 2520.102-3for style, format, and content requirements.

Describes material modifications to a planand changes in the information required tobe in the SPD. Distribution of updated SPDsatisfies this requirement. See 29 CFR§ 2520.104b-3.

Narrative summary of the Form 5500. See29 CFR § 2520.104b-10(d) for prescribedformat.

Information regarding benefit claimdeterminations. Adverse benefit determina-tions must include required disclosures(e.g., the specific reason(s) for the denial ofa claim, reference to the specific planprovisions on which the benefit determina-tion is based, and a description of the plan’sappeal procedures).

The plan administrator must furnish copiesof certain documents upon written requestand must have copies available forexamination. The documents include thelatest updated SPD, latest Form 5500, trustagreement, and other instruments underwhich the plan is established or operated.

Participants and those pension planbeneficiaries receiving benefits. (Also see“Plan Documents” below for persons withthe right to obtain SPD upon request).

See 29 CFR § 2520.102-2(c) for provisionson foreign language assistance when acertain portion of plan participants areliterate only in the same non-Englishlanguage.

Participants and those pension planbeneficiaries receiving benefits. (Also see“Plan Documents” below for persons withthe right to obtain SMM upon request).

Participants and those pension planbeneficiaries receiving benefits. For planyears beginning after December 31, 2007,the SAR is no longer required for definedbenefit pension plans, which now insteadprovide the annual funding notice (seebelow).

Claimants (participants and beneficiaries orauthorized claims representatives).

Participants and beneficiaries. Also see29 CFR § 2520.104a-8 regarding theDepartment’s authority to request docu-ments.

Automatically to participants within 90days of becoming covered by the planand to pension plan beneficiaries within 90days after first receiving benefits.However, a plan has 120 days afterbecoming subject to ERISA to distributethe SPD. Updated SPD must be furnishedevery 5 years if changes made to SPDinformation or plan is amended. Other-wise must be furnished every 10 years.See 29 CFR § 2520.104b-2.

Automatically to participants and pensionplan beneficiaries receiving benefits; notlater than 210 days after the end of the planyear in which the change is adopted.

Automatically to participants and pensionplan beneficiaries receiving benefitswithin 9 months after end of plan year, or2 months after due date for filing Form5500 (with approved extension).

Requirements vary depending on type ofplan and type of benefit claim involved.See 29 CFR § 2560.503-1 for prescribedclaims procedures requirements.

Copies must be furnished no later than 30days after a written request. Planadministrator must make copies availableat its principal office and certain otherlocations as specified in 29 CFR§ 2520.104b-1(b).

Section 1: Basic Disclosure Requirements for Pension and Welfare Benefit Plans

*All footnotes for this chapter are on page 4.

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Summary of Material Reduction inCovered Services or Benefits

Initial COBRA Notice 3

COBRA Election Notice 3

Notice of Unavailability of COBRA

Notice of Early Termination of COBRACoverage

Summary of group health plan amendmentsand changes in information required to bein SPD that constitute a “material reductionin covered services or benefits.” See 29CFR § 2520.104b-3(d)(3) for definitions.

Notice of the right to purchase temporaryextension of group health coverage whencoverage is lost due to a qualifying event.For more information, see EBSA’s bookletAn Employer’s Guide to Group HealthContinuation Coverage Under COBRA.See 29 CFR § 2590.606-1.

Notice to “qualified beneficiaries” of theirright to elect COBRA coverage uponoccurrence of qualifying event. For moreinformation, see EBSA’s booklet AnEmployer’s Guide to Group HealthContinuation Coverage Under COBRA.See 29 CFR § 2590.606-4.

Notice that an individual is not entitled toCOBRA coverage. See 29 CFR § 2590.606-4(c).

Notice that a qualified beneficiary’sCOBRA coverage will terminate earlierthan the maximum period of coverage.See 29 CFR § 2590.606-4(d).

Participants.

Covered employees and covered spouses.

Covered employees, covered spouses,and dependent children who are qualifiedbeneficiaries.

Individuals who provide notice to theadministrator of a qualifying event whomthe administrator determines are not eligiblefor COBRA coverage.

Qualified beneficiaries whose COBRAcoverage will terminate earlier than themaximum period of coverage.

Generally within 60 days of adoption ofmaterial reduction in group health planservices or benefits. See 29 CFR§ 2520.104b-3(d)(2) regarding 90-dayalternative rule for furnishing the requiredinformation.

When group health plan coveragecommences.

The administrator must generally providequalified beneficiaries with this notice,generally within 14 days after beingnotified by the employer or qualifiedbeneficiary of the qualifying event. If theemployer is also the plan administrator,the administrator must provide the noticenot later than 44 days after: the date onwhich the qualifying event occurred; or ifthe plan provides that COBRA continua-tion coverage starts on the date of loss ofcoverage, the date of loss of coveragedue to a qualifying event.

The administrator must provide this noticegenerally within 14 days after beingnotified by the individual of the qualifyingevent.

As soon as practicable following theadministrator’s determination thatcoverage will terminate.

Section 2: Additional Disclosure Requirements for Welfare Benefit Plans That Are Group Health Plans2

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Certificate of Creditable Coverage4

General Notice of PreexistingCondition Exclusion4

Individual Notice of Period ofPreexisting Condition Exclusion4

Notice of Special Enrollment Rights4

Wellness Program Disclosure4

Notice from employee’s former grouphealth plan documenting prior group healthplan creditable coverage. See 29 CFR §2590.701-5(a)(3)(ii) for information requiredto be included on the certificate.

Notice describing a group health plan’spreexisting condition exclusion and howprior creditable coverage can reduce thepreexisting condition exclusion period.See 29 CFR § 2590.701-3(c) for pre-scribed requirements.

Notice that a specific preexisting conditionexclusion period applies to an individualupon consideration of creditable coverageevidence and an explanation of appealprocedures if the individual disputes theplan’s determination. See 29 CFR §2590.701-3(e) for prescribed requirements.

Notice describing the group health plan’sspecial enrollment rules including the rightto special enroll within 30 days of the lossof other coverage or of marriage, birth of achild, adoption, or placement for adoption.See 29 CFR § 2590.701-6(c) for prescribedrequirements as well as a model notice.

Notice given by any group health planoffering a wellness program that requiresindividuals to meet a standard related to ahealth factor in order to obtain a reward. Thenotice must disclose the availability of areasonable alternative standard (or possibilityof waiver of the otherwise applicablestandard). See 29 CFR § 2590.702(f)(2)(v) forprescribed requirements as well as modellanguage.

Participants and beneficiaries who losecoverage or who request a certificate.

Participants.

Participants and beneficiaries whodemonstrate creditable coverage that is notenough to completely offset the preexistingcondition exclusion.

Employees eligible to enroll in a grouphealth plan.

Participants and beneficiaries eligible toparticipate in a wellness program thatrequires individuals to meet a standardrelated to a health factor in order to obtaina reward.

Automatically upon losing group healthplan coverage, becoming eligible forCOBRA coverage, and when COBRAcoverage ceases. A certificate may berequested free of charge anytime prior tolosing coverage and within 24 months oflosing coverage.

Must be provided as part of any writtenapplication materials distributed forenrollment. If the plan or issuer does notdistribute such materials, by the earliestdate following a request for enrollment thata plan or issuer, acting in a reasonable andprompt fashion, can provide the notice.

As soon as possible following thedetermination of creditable coverage.

At or before the time an employee isinitially offered the opportunity to enroll inthe group health plan.

In all plan materials that describe theterms of the wellness program. If theplan materials merely mention that aprogram is available, without describingits terms, this disclosure is not required.

1 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 andbeneficiaries required under Title I of ERISA. See, e.g., 29 CFR 2520.104b-30.

2 The term “group health plan” means an employee welfare benefit plan to the extent that the plan provides medical care to employees or their dependents directly or through insurance, reimbursement or otherwise.3 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.4 For more information, see EBSA’s Compliance Assistance Guide: Health Benefits Coverage Under Federal Law.

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Women’s Health and Cancer RightsAct (WHCRA) Notices4

Medical Child Support Order (MCSO)Notice

National Medical Support (NMS)Notice

Notice describing required benefits formastectomy-related reconstructive surgery,prostheses, and treatment of physicalcomplications of mastectomy.

Notification from plan administratorregarding receipt and qualificationdetermination on a MCSO directing theplan to provide health insurance coverageto a participant’s noncustodial children. SeeERISA § 609(a)(5)(A) for prescribedrequirements.

Notice used by State agency responsiblefor enforcing health care coverageprovisions in a MCSO. See ERISA §609(a)(5) and 29 CFR § 2590.609-2 forprescribed requirements. Depending uponcertain conditions, employer mustcomplete and return Part A of the NMSnotice to the State agency or transfer Part Bof the notice to the plan administrator for adetermination on whether the notice is aqualified MCSO.

Participants.

Participants, any child named in a MCSO,and his or her representative.

State agencies, employers, plan administra-tors, participants, custodial parents,children, representatives.

Notice must be furnished upon enrollmentand annually.

Administrator, upon receipt of MCSO,must promptly issue notice (includingplan’s procedures for determining itsqualified status). Administrator must alsoissue separate notice as to whether theMCSO is qualified within a reasonabletime after its receipt.

Employer must either send Part A to theState agency, or Part B to plan administra-tor, within 20 days after the date of thenotice or sooner, if reasonable. Adminis-trator must promptly notify affectedpersons of receipt of the notice and theprocedures for determining its qualifiedstatus. Administrator must within 40-business days after its date or sooner, ifreasonable, complete and return Part B tothe State agency and must also providerequired information to affected persons.Under certain circumstances, theemployer may be required to send Part Ato the State agency after the planadministrator has processed Part B.

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Section 3: Additional Disclosure Requirements for Pension Plans

Periodic Pension Benefit Statement

Statement of Accrued andNonforfeitable Benefits

Content of statements varies dependingon the type of plan.

In general, all statements must indicatetotal benefits and total nonforfeitablepension benefits, if any, which haveaccrued, or earliest date on which benefitsbecome nonforfeitable.

Benefit statements for an individualaccount plan must also provide the valueof each investment to which assets in theindividual account have been allocated.

Benefit statements for individual accountplans that permit participant investmentdirection must also include an explanationof any limitation or restriction on anyright of the participant or beneficiaryunder the plan to direct an investment; anexplanation of the importance of a well-balanced and diversified portfolio,including a statement of the risk thatholding more than 20 percent of aportfolio in the security of an entity (suchas employer securities) may not beadequately diversified; and a noticedirecting the participant or beneficiary tothe Internet website of the Department ofLabor for sources of information onindividual investing and diversification.See ERISA § 105.

Statements of total accrued benefits andtotal nonforfeitable pension benefits, ifany, which have accrued, or the earliestdate on which benefits become nonfor-feitable. See ERISA § 209.

Participants and beneficiaries

Participants.

In general, at least once each quarter forindividual account plans that permitparticipants to direct their investments;at least once each year, in the case ofindividual account plans that do notpermit participants to direct theirinvestments; and at least once everythree years in the case of definedbenefit plans or, in the alternative,defined benefit plans can satisfy thisrequirement if at least once each yearthe administrator provides notice of theavailability of the pension benefitstatement and the ways to obtain suchstatement. In addition, the planadministrator of a defined benefit planmust furnish a benefit statement to aparticipant or beneficiary upon writtenrequest, limited to one request duringany 12-month period. In addition, theplan administrator of an individualaccount plan must furnish a benefitstatement upon request to a beneficiarythat does not receive statementsautomatically, limited to one requestduring any 12-month period.

The plan administrator shall provide astatement to participants upon request,upon termination of service with theemployer, or after the participant has a1-year break in service. Not more thanone statement shall be required in any12-month period for statementsprovided upon request. Not more thanone statement shall be required withrespect to consecutive 1-year breaks inservice.

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Suspension of Benefits Notice

Notice of Transfer of ExcessPension Assets to Retiree HealthBenefit Account

Domestic Relations Order (DRO)and Qualified Domestic RelationsOrder (QDRO) Notices

Notice of Significant Reduction inFuture Benefit Accruals

Notice of Failure to Meet MinimumFunding Standards

Section 404(c) Plan Disclosures

Notice that benefit payments are beingsuspended during certain periods ofemployment or reemployment. See 29CFR § 2530.203-3 for prescribed require-ments.

Notification of transfer of defined benefitplan excess assets to retiree health benefitaccount. See ERISA § 101(e) for pre-scribed requirements.

Notifications from plan administratorregarding its receipt of a DRO, and upon adetermination as to whether the DRO isqualified. For more information see ERISA§ 206(d)(3) and the EBSA booklet QDROs:The Division of Retirement BenefitsThrough Qualified Domestic RelationsOrders.

Notice of plan amendments to definedbenefit plans and certain defined contribu-tion plans that provide for a significantreduction in the rate of future benefitaccruals or the elimination or significantreduction in an early retirement benefit orretirement-type subsidy. See 26 CFR§ 54.4980F-1 for further information.

Notification of failure to make a requiredinstallment or other plan contribution tosatisfy minimum funding standard within 60days of contribution due date. (Notapplicable to multiemployer plans). SeeERISA § 101(d) for more information.

Investment-related and certain otherdisclosures for participant-directedindividual account plans described in 29CFR § 2550.404c-1, including blackoutnotice for participant-directed individualaccount plans described in ERISA section404(c)(1)(A)(ii), as described below.

Employees whose benefits are suspended.

Employer sponsoring pension plan fromwhich transfer is made must give notice tothe Secretaries of Labor and the Treasury,each employee organization representingplan participants, and the plan administrator.Plan administrator must notify eachparticipant and beneficiary under the plan.

Participants, and alternate payees (i.e.,spouse, former spouse, child, or otherdependent of a participant named in a DROas having a right to receive all or a portionof the participant’s plan benefits).

Participants, alternate payees under aQDRO, contributing employers,and certain employee organizations.

Participants, beneficiaries, and alternatepayees under QDROs.

Participants or beneficiaries, as applicable.

During first month or payroll period inwhich the withholding of benefitpayments occurs.

Notices must be given not later than 60days before the date of the transfer. Theemployer notice also must be availablefor inspection in the principal office ofthe administrator.

Administrator, upon receipt of the DRO,must promptly issue the notice (includ-ing the plan’s procedures for determin-ing its qualified status). The secondnotice, regarding whether the DRO isqualified, must be issued within areasonable period of time after receipt ofthe DRO.

Except as provided in regulationsprescribed by the Secretary of theTreasury, notice must be providedwithin a reasonable time, generally 45days, before the effective date of aplan amendment subject to ERISA. See§204(h) of ERISA and IRC §4980F.

Must be furnished within a “reasonable”period of time after the failure. Notice isnot required if a funding waiver isrequested in a timely manner; if waiver isdenied, notice must be provided within60 days after the denial.

Certain information should be furnishedto participants or beneficiaries before thetime when investment instructions are tobe made; certain information must befurnished upon request.

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Notice of Blackout Period for IndividualAccount Plans

Qualified Default InvestmentAlternative Notice

Automatic Contribution ArrangementNotice

Annual Funding Notice

Multiemployer Plan Summary Report

Notification of any period of more than 3consecutive business days when there is atemporary suspension, limitation orrestriction under an individual account planon directing or diversifying plan assets,obtaining loans, or obtaining distributions.

Advance notice to participants andbeneficiaries describing the circum-stances under which contributions orother assets will be invested on theirbehalf in a qualified default investmentalternative, the investment objectives ofthe qualified default investment alterna-tive, and the right of participants andbeneficiaries to direct investments out ofthe qualified default investment alterna-tive. See 29 CFR § 2550.404c-5. See alsoERISA § 514(e)(3).

A plan administrator of an automaticcontribution arrangement shall provide anotice under ERISA § 514(e)(3). Gener-ally, this notice shall inform participants oftheir rights and obligations under thearrangement.

Basic information about the funding statusand financial condition of the definedbenefit pension plan, including the plan’sfunding percentage; assets and liabilities;and a description of the benefits guaran-teed by the PBGC. See ERISA §101(f).

Certain financial information, such ascontribution schedules, benefit formulas,number of employers obligated tocontribute, number of participants onwhose behalf no contributions were madefor a specified period of time, number ofwithdrawing employers, and withdrawalliability. See ERISA §104(d).

Participants and beneficiaries of individualaccount plans affected by such blackoutperiods and issuers of affected employersecurities held by the plan.

Participants and beneficiaries.

Each participant to whom the arrangementapplies. See ERISA § 514(e)(3).

Participants, beneficiaries receivingbenefits, each labor organizationrepresenting participants under the plan,each employer that has an obligation tocontribute under the plan, and PBGC.

Each employee organization and to eachemployer that has an obligation tocontribute to the plan.

Generally at least 30 days but not morethan 60 days advance notice. See ERISA§ 101(i) and 29 CFR § 2520.101-3 forfurther information on the noticerequirement.

An initial notice must be furnished atleast 30 days in advance of the date ofplan eligibility, or at least 30 days inadvance of the date of any firstinvestment in a qualified defaultinvestment alternative on behalf of aparticipant or beneficiary; or on orbefore the date of plan eligibility if theparticipant has the opportunity to makea permissible withdrawal within the first90 days. Further, there is an annualnotice requirement within a reasonableperiod of time of at least 30 days inadvance of each subsequent plan year.See 29 CFR § 2550.404c-5.

The plan administrator of an automaticcontribution arrangement shall, withina reasonable period before such planyear, provide the notice. See ERISA§ 514(e)(3).

Not later than 120 days after the planyear for large plans. Small plans (100or fewer participants) must furnish thenotice no later than the earlier of thedate on which the annual report is filedor the latest date the annual report mustbe filed (including extensions).

Within 30 days after the due date of theannual report.

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Copies of periodic actuarial reports,quarterly, semi-annual, or annual financialreports, and amortization extensionapplications. See ERISA §101(k).

Estimated amount of employer’s with-drawal liability and how such estimatedliability was determined. See ERISA §101(l).

The plan administrator of a single-employer or multiple employer definedbenefit plan must provide a notice ofspecified funding-based limits on benefitaccruals and benefit distributions. SeeERISA § 101(j).

Notice of right to sell company stock andreinvest proceeds into other investmentsavailable under the plan. Notice alsomust describe the importance of diversi-fying the investment of retirementaccount assets. See ERISA § 101(m).

Multiemployer Pension PlanInformation Made Available on Request

Multiemployer Plan Notice of PotentialWithdrawal Liability

Notice of Funding-based Limitation

Notice of Right to Divest

Participants, beneficiaries receivingbenefits, each labor organization represent-ing participants under the plan, and eachemployer that has an obligation tocontribute to the plan.

Any employer who has an obligation tocontribute to the plan.

Participants and beneficiaries.

Participants, alternate payees withaccounts under the plan, and beneficiariesof deceased participants. See ERISA §204(j).

Within 30 days of written request.Requester not entitled to receive morethan one copy of any report orapplication during any 12-month period.See ERISA § 101(k).

Generally, within 180 days of a writtenrequest.

Generally, within 30 days after a planbecomes subject to a specified funding-based limitation, as well as at any othertime determined by the Secretary of theTreasury.

Not later than 30 days before the firstdate on which the individuals areeligible to exercise their rights. SeeERISA § 101(m).

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Overview of Basic PBGC Reporting and Disclosure RequirementsSection 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

Comprehensive Premium Filing

Notice of Intent to Terminate

Form 500 - Standard TerminationNotice

Notice of Plan Benefits

Estimated flat-rate premium payment (withsupporting data) for plans with 500 or moreparticipants in prior plan year.

Annual premium payment (with supportingdata) for all plans.

Advises of proposed termination andprovides information about the terminationprocess.

Advises of proposed termination andprovides plan data.

Provides information on each person’sbenefits.

By last day of second full calendar monthfollowing end of prior plan year.

For plans with fewer than 100 participantsin prior plan year, by last day of 16th fullcalendar month following end of thepreceding premium payment year (e.g.,April 30, 2009 for 2008 calendar-yearplans). For plans with 100 or moreparticipants in prior plan year, by 15th dayof the tenth full calendar month followingend of prior plan year (e.g., October 15,2008 for 2008 calendar-year plans).

At least 60 and no more than 90 daysbefore proposed termination date. (Ifpossible insurers not known at thistime, supplemental notice no later than45 days before distribution date.)

No later than 180 days after proposedtermination date.

No later than the time Form 500(Standard Termination Notice) is filedwith PBGC.

* 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). MyPAA and more information can be found at the PBGC’s Web site (www.pbgc.gov) on the page for Practitioners under Premium Filings.

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Section 2: Standard Terminations (for covered single-employer defined benefit plans)(ERISA §§ 4041 and 4050; 29 CFR Parts 4041 and 4050)

Pension Benefit GuarantyCorporation (PBGC)

PBGC

Participants, beneficiaries, alternatepayees, and union.

PBGC

Participants, beneficiaries, and alternatepayees.



Section 3: Distress Terminations (for covered single-employer defined benefit plans)(ERISA §§ 4041 and 4050; 29 CFR Parts 4041 and 4050)

Form 501 - Post-DistributionCertification

Schedule MP - Missing Participants

Form 600 - Distress TerminationNotice of Intent to Terminate

Notice of Intent to Terminate toAffected Parties Other than PBGC

Disclosure of TerminationInformation

Notice of Request to BankruptcyCourt to Approve Termination

Form 601 - Distress TerminationNotice, Single-Employer PlanTermination

Certifies that distribution of plan assets hasbeen properly completed.

Advises of a participant or beneficiary under aterminating plan whom the plan administratorcannot locate.

Advises of proposed termination andprovides plan and sponsor data.

Advises of proposed termination andprovides information about the termina-tion process.

A plan administrator must discloseinformation it has submitted to PBGC inconnection with a distress termination.See ERISA section 4041(c)(2)(D). (Notethat a plan administrator or a plan sponsormust disclose information it has submittedto PBGC in connection with a PBGC-initiated termination. See ERISA §4042(c)(3).)

Advises of sponsor’s/controlled groupmember’s request to Bankruptcy Court toapprove plan termination based uponreorganization test.

Demonstrates satisfaction of distresscriteria, and provides plan and sponsor/controlled group data.

No later than the 30th day after distributionof plan assets completed. (If PBGCassesses a penalty, it will do so only to theextent the form is filed more than 90 daysafter distribution deadline, includingextensions.)

Filed with Form 501. (See above fortime limits.)

At least 60 days and (except with PBGCapproval) no more than 90 days beforeproposed termination date.

No later than the time Form 600(Notice of Intent to Terminate) is filedwith PBGC.

Not later than 15 days after (1) receiptof a request from the affected party forthe information; or (2) the provision ofnew information to the PBGC relatingto a previous request.

Concurrent with request to BankruptcyCourt.

No later than the 120th day after theproposed termination date.

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PBGC

PBGC

PBGC



PBGC

PBGC



Form 602 - Post-DistributionCertification for DistressTermination

Schedule MP - Missing Participants

Form 10 - Post-Event Notice ofReportable Events

Form 10-Advance - Advance Noticeof Reportable Events

Form 200 - Notice of Failure toMake Required Contributions

Certifies the distribution of plan assets hasbeen properly completed for a plan that issufficient for guaranteed benefits.

Advises of a participant or beneficiaryunder a terminating plan whom the planadministrator cannot locate. (Thisassumes plan is sufficient for guaranteedbenefits.)

Requires submission of information relatingto event, plan, and controlled group for:failure to make a required minimum fundingpayment, active participant reduction,change in contributing sponsor orcontrolled group, application for fundingwaiver, liquidation, bankruptcy, and variousother events. See ERISA § 4043 and 29CFR Part 4043.

Requires submission of information relatingto event, plan, and controlled group for:change in contributing sponsor orcontrolled group, liquidation, loan default,transfer of benefit liabilities, and variousother events. This requirement applies toprivately held controlled groups with planshaving aggregate unfunded vested benefitsover $50 million and an aggregate fundedvested percentage under 90 percent.See ERISA § 4043 and 29 CFR Part 4043.

Requires submission of information relatingto plan and controlled group where planhas aggregate missed contributions of morethan $1 million. See ERISA § 302(f)(4) and 29CFR Part 4043, subparts A and D.

No later than the 30th day after distribu-tion of plan assets completed. (If PBGCassesses a penalty, it will do so only tothe extent the form is filed more than 90days after the distribution deadline,including extensions.)

Filed with Form 602. (See above forthe time limits.)

No later than 30 days after planadministrator or contributing sponsorknows (or has reason to know) theevent has occurred. (Extensions mayapply.)

At least 30 days in advance of effectivedate of event. (Extensions may apply.)

No later than 10 days after contributiondue date.

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Section 4: Other Reports (for covered single-employer defined benefit plans)

PBGC

PBGC

PBGC

PBGC

PBGC


Reporting of Substantial Cessation ofOperation and of Withdrawal ofSubstantial Employer

Annual Financial and ActuarialInformation Reporting

Advises PBGC of certain cessations ofoperation and of withdrawals of substan-tial employers and requests determinationof liability. See ERISA §§ 4062(e) and4063(a).

Requires submission of actuarial andfinancial information for certain con-trolled groups with substantialunderfunding. See ERISA § 4010 and 29CFR Part 4010.

No later than 60 days after event.

No later than 105 days after the closeof the filer’s information year, with apossible extension for certain requiredactuarial information until 15 days afterfiling deadline for annual report (Form5500).

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PBGC

PBGC

Overview of Form 5500 and Form M-1 Annual Reporting RequirementsCertain employee benefit plans are exempt from the annual reportingrequirements or are eligible for limited reporting options. The majorclasses of plans exempt from filing an annual report or eligible forlimited reporting are described in the Form 5500 instructions.

The Form 5500 filed by plan administrators and GIAs are due by thelast 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 instructions forinformation on extensions. The Form 5500 filed by DFEs other thanGIAs are due no later than 91/2 months after the end of the DFE year.

Two quick reference charts from the 2008 Form 5500 immediatelyfollow this section and describe the basic filing requirements for smallplans, large plans, and DFEs. The two charts are: Pension and WelfareBenefit Plan Form 5500 Quick Reference Chart on pages 15 and 16, andDFE Form 5500 Quick Reference Chart on page 17. Check the EFASTInternet site at www.efast.dol.gov and the latest Form 5500 instruc-tions for information on who is required to file, how to complete theforms, when to file, EFAST approved software, and electronic filingoptions. Also check the EFAST Internet site for Form 5500s, Schedules,and Instructions for reporting years prior to 2008, if you are submittinga late or amended filing.

Form M-1 Annual Reporting RequirementsAdministrators of multiple employer welfare arrangements (MEWAs)and certain other entities that offer or provide coverage for medicalcare to employees of two or more employers are generally required tofile the Form M-1 (Report for Multiple Employer Welfare Arrangements(MEWAs) and Certain Entities Claiming Exception (ECEs)). The FormM-1 is filed with EBSA and can be filed online athttp://www.askebsa.dol.gov/mewa. The Form M-1 is generallydue no later than March 1, following any calendar year for which afiling is required. A quick reference chart on Reporting Requirements forMEWAs and ECEs is on page 18. Also, check the EBSA Internet site atwww.dol.gov/ebsa for more information on the Form M-1.

Form 5500 Annual Reporting RequirementsEBSA, in conjunction with the Internal Revenue Service (IRS) and thePBGC, publishes the Form 5500 Annual Return/Report forms used byplan administrators to satisfy various annual reporting obligationsunder ERISA and the Internal Revenue Code (Code).

For the 2007 and 2008 plan years, filers will continue to use the ERISAFiling Acceptance System (EFAST), unless otherwise directed. There aretwo formats for filing the Form 5500 in EFAST.* The first format,“machine print,” is completed using computer software from EFAST-approved vendors and can be filed electronically or by mail, includingcertain private delivery services. The other format, “hand print,” maybe completed by typewriter, by hand, or by using computer softwarefrom EFAST approved vendors, and may be filed only by mail, includ-ing certain private delivery services. Beginning in the 2009 reportingyear, Form 5500 filing and processing will be wholly electronic. Filerswill be able to complete Form 5500s online using a Web-based interfaceor continue to use third-party developed software. For more informa-tion about electronic filing under EFAST2, see www.efast.dol.gov.

The Form 5500 filing requirements vary according to the type of filer.There are three general types of filers: small plans (generally planswith fewer than 100 participants as of the beginning of the plan year);large plans (generally plans with 100 or more participants as of thebeginning of the plan year); and direct filing entities (DFEs). DFEs aretrusts, accounts, and other investment or insurance arrangements thatplans participate in and that are required to or allowed to file the Form5500 directly with EBSA. These investment and insurance arrange-ments include master trust investment accounts (MTIAs), common/collective trusts (CCTs), pooled separate accounts (PSAs), 103-12investment entities (103-12 IEs), and group insurance arrangements(GIAs). MTIAs are the only DFE for which the filing of the Form 5500 ismandatory. Employee benefit plans that participate in CCTs, PSAs,103-12 IEs, and GIAs that file as DFEs are eligible for certain annualreporting relief.

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* For plan years and DFE reporting years beginning January 1, 2008, all Forms 5500 Annual Return/Report must be filed electronically. See 71 FR 41359 (July 21, 2006).

Large Pension Plan Small Pension Plan Small Welfare PlanLarge Welfare Plan

Section 1: Pension and Welfare Benefit Plan Quick Reference Chart: Form 5500, Schedules and Attachments

Form 5500

Schedule A -Insurance Information

Schedule C -Service Provider Information

Schedule D -DFE/Participating PlanInformation

Schedule E -ESOP Annual Information4

Schedule G -Financial TransactionSchedules

Schedule H -Large Plan and DFE FinancialInformation

Schedule I -Small Plan FinancialInformation

Schedule MB -Multiemployer DefinedBenefit Plan and CertainMoney Purchase PlanActuarial Information

Must complete.

Must complete if plan hasinsurance contracts for benefitsor investments.

Must complete if serviceprovider was paid $5,000 ormore or an accountant orenrolled actuary was terminated.

Must complete Part I if planparticipated in a CCT, PSA,MTIA, or 103-12 IE.

Not required.

Must complete if Schedule H,line 4b, 4c, or 4d is marked“Yes.”5, 6

Must complete.5, 7

Not required.

Not required.

Must complete.2


Must complete if serviceprovider was paid $5,000 ormore or an accountant orenrolled actuary was terminated.


Must complete if ESOP.

Must complete if Schedule H,line 4b, 4c, or 4d is marked“Yes.”5

Must complete.2, 5

Not required.

Must complete if amultiemployer defined benefitplan subject to minimum fundingstandards or a money purchasedefined contribution plan(including a target benefit plan)that is amortizing a fundingwaiver.

Must complete.**2


Not required.


Must complete if ESOP.

Not required.

Not required.

Must complete.2

Must complete if amultiemployer defined benefitplan subject to minimum fundingstandards or a money purchasedefined contribution plan(including a target benefit plan)that is amortizing a fundingwaiver.

Must complete.**3

Must complete if plan hasinsurance contracts forbenefits3 or investments.

Not required.


Not required.

Not required.

Not required.

Must complete.3

Not required.

1*

*See footnotes for certain exemptions and other technical requirements. All footnotes for this section are on page 16.**For the 2007 and 2008 plan years, certain plans with fewer than 25 participants as of the beginning of the plan year may be eligible for a simplified reporting option. Starting with the2009 plan year, certain plans with fewer than 100 participants as of the beginning of the 2009 plan year may be eligible to use the new Form 5500-SF. See Instructions.

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Large Pension Plan Small Pension Plan Small Welfare PlanLarge Welfare Plan

Schedule R -Retirement Plan Information

Schedule SB -Single-Employer DefinedBenefit Plan ActuarialInformation

Schedule SSA -Annual Registration StatementIdentifying SeparatedParticipants with DeferredVested Benefits4

Independent Qualified PublicAccountant’s Report

Must complete, unless exempt.8

Must complete if a single-employer or multiple-employerdefined benefit plan subject tominimum funding standards.

Must complete if plan hadseparated participants withdeferred vested benefits toreport.

Must attach. 2, 9

Must complete, unless exempt.8

Must complete if a single-employer or multiple-employerdefined benefit plan subject tominimum funding standards.

Must complete if plan hadseparated participants withdeferred vested benefits toreport.

Not required unless Schedule I,line 4k, is checked “No.”9

Not required.

Not required.

Not required.

Must attach.7, 9

Not required.

Not required.

Not required.

Not required.

1 This chart provides only general guidance and not all rules and requirements are reflected. Refer to specific Form 5500 instructions for complete information on filing requirements.2 Pension plans are exempt from filing any schedules and the independent qualified public accountant’s report if the plan uses a Code section 408 individual retirement account or annuity as

the sole funding vehicle for providing benefits. Pension benefit plans providing benefits exclusively through an insurance contract or contracts that are fully guaranteed and that meet all ofthe conditions of 29 § CFR 2520.104-44(b)(2) during the entire plan year are exempt from filing Schedule H, Schedule I, and the independent qualified public accountant’s report. For planyears prior to those commencing on January 1, 2009, plans funded solely through Code section 403(b)(1) annuity and/or 403(b)(7) custodial accounts are also exempt from filing anyschedules and the independent qualified public accountant’s report. Such plans are not exempt for plan years beginning on or after January 1, 2009.

3 Unfunded, fully insured and combination unfunded/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.

4 The Schedule E and Schedule SSA are not part of the Form 5500 filing for plan years commencing on or after January 1, 2009. For more information on how to file the informationpreviously collected on the Schedule SSA (Form 5500) for plan years commencing on or after January 1, 2009, see www.irs.gov.

5 Must also complete schedules of assets and reportable (5 percent) transactions if Schedule H, line 4i or 4j is marked “Yes.”6 Must complete Schedule G to report any nonexempt transactions even if Schedule H is not required.7 Unfunded, fully insured and combination unfunded/insured welfare plans covering 100 or more participants at the beginning of the plan year are exempt under 29 CFR § 2520.104-44 from

the accountant’s report requirement and completing Schedule H.8 Must complete if a defined benefit plan or plan is otherwise subject to the minimum funding standards under Code section 412 or ERISA section 302. See Schedule R instructions for

further explanation and for conditions that exempt a pension plan from filing the Schedule R.9 For information on the requirements for deferring an accountant’s report pursuant to 29 CFR § 2520.104-50 in connection with a short plan year of 7 months or less and the contents of the

required explanatory statement, see the Form 5500 instructions.

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MTIA CCT or PSA GIA103-12 IE

Form 5500

Schedule A -Insurance Information

Schedule C -Service ProviderInformation

Schedule D -DFE/Participating PlanInformation

Schedule G -Financial TransactionSchedules

Schedule H -Large Plan and DFEFinancial Information

Schedules of Assets andReportable (5 percent)Transactions

Independent QualifiedPublic Accountant’s Report

Must complete if filing as a DFE.2

Must complete if 103-12 IE hasinsurance contracts.

Must complete Part I if serviceprovider was paid $5,000 ormore and Part II if an accountantwas terminated.

List all plans that participated inthe 103-12 IE in Part II. List allCCTs, PSAs, and 103-12 IEs inwhich the 103-12 IE participatedor invested during the 103-12 IEyear in Part I.

Must complete if Schedule H,line 4b, 4c, or 4d is checked“Yes.”

Must complete Parts I, II, III,and IV.

Must complete Schedules ofAssets if Schedule H, line 4i, ischecked “Yes.” Schedule ofReportable (5 percent) Transactionsnot required. See Schedule Hinstructions.

Must attach.

Must complete.2

Must complete if MTIA hasinsurance contracts.

Must complete Part I if serviceprovider was paid $5,000 ormore. Part II not required.

List all plans that participated inthe MTIA in Part II. List allCCTs, PSAs, and 103-12 IEs inwhich the MTIA participated orinvested during the MTIA yearin Part I.



Must complete if Schedule H,line 4i or 4j is checked “Yes.”See Schedule H instructions.

Not required.


Not required.

Not required.

List all plans that participated inthe CCT or PSA in Part II. List allCCTs, PSAs, and 103-12 IEs inwhich the CCT or PSA partici-pated or invested during the CCTor PSA year in Part I.

Not required.

Must complete Parts I, II, and III.Skip Part IV.

Not required.

Not required.


Must complete.

Must complete Part I if serviceprovider was paid $5,000 ormore and Part II if anaccountant was terminated.

List all plans that participated inthe GIA in Part II. List allCCTs, PSAs and 103-12 IEs inwhich the GIA participated orinvested during the GIA yearin Part I.



Must complete if Schedule H,line 4i or 4j is checked “Yes.”See Schedule H instructions.

Must attach.

Section 2: DFE Quick Reference Chart: Form 5500, Schedules and Attachments

1 This chart provides only general guidance and not all rules and requirements are reflected. Refer to specific Form 5500 instructions for complete information on filing require-ments.2 An MTIA is the only DFE for which the filing of the Form 5500 is mandatory. Employee benefit plans that participate in CCTs, PSAs, 103-12 IEs, and GIAs that file as DFEs areeligible for certain annual reporting relief.

1

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Section 3: MEWAs and ECEs Quick Reference Chart: Form M-1

MEWA or ECE identifying information.States in which coverage is provided,insurance information, number ofparticipants covered, and informationabout compliance with Part 7 of ERISA,including any litigation alleging non-compliance.

Administrators of MEWAs and ECEs thatoffer or provide coverage for medical careto employees of two or more employers(including one or more self-employedindividuals) are generally required to filethe Form M-1.

An ECE is an entity that claims it is not aMEWA due to the exception in thedefinition of MEWA for entities that areestablished and maintained under orpursuant to one or more agreements thatthe Secretary of Labor finds to becollective bargaining agreements. Formore information on this exception, see29 CFR § 2510.3-40.

Annual Report: Generally due byMarch 1st of the year following thecalendar year for which report isrequired. A 60-day extension isavailable. For ECEs, an annual report isrequired to be filed only if the ECE waslast originated within 3 years beforeannual filing due date.

Origination Report: Due within 90 daysof origination.

“Origination” generally occurs when:(1) the MEWA or ECE first beginsoffering or providing coverage; (2) theMEWA or ECE begins offering orproviding coverage after a merger(unless all MEWAs or ECEs involvedin the merger were last originated atleast 3 years prior to the merger); or (3)the number of employees to which theMEWA offers or provides coveragehas grown at least 50 percent. There-fore, a MEWA or ECE may be origi-nated more than once.

1 This chart provides only general guidance and not all rules and requirements are reflected.

1

Form M-1Report for Multiple EmployerWelfare Arrangements (MEWAs)and Certain Entities ClaimingException (ECEs)

EBSA

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EBSA ResourcesFor more information about EBSA’s reporting and disclosure requirements,contact:

U.S. Department of LaborEmployee Benefits Security Administration200 Constitution Ave., N.W.Washington, DC 202101-866-444-EBSA (3272)Web site: www.dol.gov/ebsa

For assistance on completing the Form 5500, call the EFAST Help Line at1-866-463-3278.

For assistance on completing the Form M-1, call (202) 693-8360.

The following publications may be helpful in providing a more detailedexplanation on specific subject matter:

An Employer’s Guide to Group Health Continuation CoverageUnder COBRA

Provides a general explanation of the COBRA right to purchase atemporary extension of group health insurance.

QDROs: The Division of Retirement Benefits ThroughQualified Domestic Relations Orders

Addresses the division of retirement benefits during divorce orlegal separation.

Compliance Assistance Guide:Health Benefits Coverage Under Federal Law

Describes the obligations of group health plans and group healthinsurance issuers under Part 7 of Title I of ERISA, including provi-sions of the Health Insurance Portability and Accountability Act.Also includes sample language that may be used to meet disclosurerequirements.

These and other EBSA publications may be obtained from:

Toll-free number: 1- 866-444-EBSA (3272)Web site: www.dol.gov/ebsa

PBGC ResourcesFor information about PBGC’s reporting and disclosure requirements,call 1-800-736-2444 or (202) 326-4242.

For premium-related questions, send an e-mail [email protected] or write to:

PBGCDept. 77840P.O. Box 77000Detroit, MI 48277-0840

For questions on standard terminations, send an e-mail [email protected] or write to:

Pension Benefit Guaranty CorporationStandard Termination Compliance Division/Processing and Technical Assistance Branch1200 K St., N.W., Suite 930Washington, DC 20005-4026

For questions on distress terminations and reportable events, send ane-mail to [email protected], [email protected] (foradvance questions), or [email protected] (for post-eventquestions), or write to:

Pension Benefit Guaranty CorporationDept. of Insurance Supervision and Compliance1200 K Street N.W., Suite 270Washington, DC 20005-4026

For additional information, visit PBGC’s Web site: www.pbgc.gov.

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Economy & Finance

Reporting disclosure guide for employee benefit plans