PBGC proposes new reportable events regulations

HRS Insight

Under ERISA, sponsors of defined benefit pension plans are required to notify the Pension Benefit Guaranty Corporation (PBGC) of certain plan and corporate events (called 'reportable events'). In 2009, PBGC proposed to increase the reporting requirements by eliminating many of the waivers included in the current reportable events regulations. In response to negative comments and a presidential order directing agencies to review existing regulations, the PBGC has now released revised proposed regulations that would exempt many companies from making reports, as they now target the reporting requirements to those companies and plans that are at substantial risk of default. Under the proposal, electronic filing would be mandatory for all reportable events notices.

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