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PBGC May Require Electronic Filing of Some Multiemployer Notices

The Pension Benefit Guaranty Corporation (PBGC) has proposed a new requirement that multiemployer plans file certain forms electronically. If the PBGC issues the proposed requirement in final form, it would be applicable to filings made on or after Jan. 1, 2016.

The PBGC proposes that the following multiemployer plan filings be made electronically:

  • notices of termination under 29 CFR part 4041A;

  • notices of insolvency and of insolvency benefit level under 29 CFR part 4245;

  • notices of insolvency and of insolvency benefit level under 29 CFR part 4281 (following mass withdrawal); and

  • applications for financial assistance under 29 CFR part 4281 (following mass withdrawal).

At this time, the PBGC has not proposed requiring electronic filing of notices of benefit reduction and notices of benefit restoration.

The PBGC argues that electronic filing will be more efficient and better protect the security of sensitive information.

The PBGC will accept comments on the proposal through June 2, 2015. All comments must include Regulation Identifier Number (RIN) 1212–AB28. They may be submitted through the following methods:

Federal eRulemaking Portal: http://www.regulations.gov. Follow the website instructions for submitting comments.

Email: [email protected].

Fax: 202–326–4112.

Mail or Hand Delivery: to Regulatory Affairs Group, Office of the General Counsel, Pension Benefit Guaranty Corporation, 1200 K Street NW, Washington, DC 20005–4026.