[Code of Federal Regulations]
[Title 29, Volume 9]
[Revised as of July 1, 2005]
From the U.S. Government Printing Office via GPO Access
[CITE: 29CFR4007.12]

[Page 772]
 
                             TITLE 29--LABOR
 
            CHAPTER XL--PENSION BENEFIT GUARANTY CORPORATION
 
PART 4007_PAYMENT OF PREMIUMS--Table of Contents
 
Sec. 4007.12  Liability for single-employer premiums.

    (a) The designation under this part of the plan administrator as the 
person required to file the applicable forms and to submit the premium 
payment for a single-employer plan is a procedural requirement only and 
does not alter the liability for premium payments imposed by section 
4007 of ERISA. Pursuant to section 4007(e) of ERISA, both the plan 
administrator and the contributing sponsor of a single-employer plan are 
liable for premium payments, and, if the contributing sponsor is a 
member of a controlled group, each member of the controlled group is 
jointly and severally liable for the required premiums. Any entity that 
is liable for required premiums is also liable for any interest and 
penalties assessed with respect to such premiums.
    (b) For any plan year in which a plan administrator issues (pursuant 
to section 4041(a)(2) of ERISA) notices of intent to terminate in a 
distress termination under section 4041(c) of ERISA or the PBGC 
initiates a termination proceeding under section 4042 of ERISA, and for 
each plan year thereafter, the obligation to pay the premiums (and any 
interest or penalties thereon) imposed by ERISA and this part for a 
single-employer plan shall be an obligation solely of the contributing 
sponsor and the members of its controlled group, if any.

(Approved by the Office of Management and Budget under control number 
1212-0009)

[[Page 773]]