[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: 29CFR4010.4]

[Page 773-774]
 
                             TITLE 29--LABOR
 
            CHAPTER XL--PENSION BENEFIT GUARANTY CORPORATION
 
PART 4010_ANNUAL FINANCIAL AND ACTUARIAL INFORMATION REPORTING--Table 
of Contents
 
Sec. 4010.4  Filers.

    (a) General. A contributing sponsor of a plan and each member of the 
contributing sponsor's controlled group is a filer with respect to an 
information year (unless exempted under paragraph (d) of this section) 
if--
    (1) The aggregate unfunded vested benefits of all plans (including 
any exempt plans) maintained by the members of the contributing 
sponsor's controlled group exceed $50 million (disregarding those plans 
with no unfunded vested benefits);
    (2) Any member of a controlled group fails to make a required 
installment or other required payment to a plan and, as a result, the 
conditions for imposition of a lien described in section 302(f)(1)(A) 
and (B) of ERISA or section 412(n)(1)(A) and (B) of the Code have

[[Page 774]]

been met during the information year, and the required installment or 
other required payment is not made within ten days after its due date; 
or
    (3) Any plan maintained by a member of a controlled group has been 
granted one or more minimum funding waivers under section 303 of ERISA 
or section 412(d) of the Code, totaling in excess of $1 million and, as 
of the end of the plan year ending within the information year, any 
portion thereof is still outstanding (determined in accordance with 
paragraph (c) of this section).
    (b) Unfunded vested benefits. (1) General. For purposes of the $50 
million test in paragraph (a)(1) of this section, the value of a plan's 
unfunded vested benefits is determined at the end of the plan year 
ending within the filer's information year in accordance with section 
4006(a)(3)(E)(iii) of ERISA and Sec. 4006.4 of this chapter (without 
reference to the exemptions and special rules under Sec. 4006.5 of this 
chapter).
    (2) Contributions. For purposes of determining the value of a plan's 
unfunded vested benefits under paragraph (b)(1) of this section, 
contributions made after the end of the plan year ending within the 
filer's information year are taken into account for that plan year only 
to the extent that they are--
    (i) Paid on or before the filing due date under Sec. 4010.10(a) 
(without regard to the alternative due date under Sec. 4010.10(b));
    (ii) Attributable to that plan year for funding purposes under ERISA 
section 302(c)(1) and section 412(c)(10) of the Code; and
    (iii) Discounted in accordance with Sec. 4006.4(b)(2)(iv) if 
unfunded vested benefits are determined under Sec. 4006.4(b) or in 
accordance with Sec. 4006.4(c)(4) if unfunded vested benefits are 
determined under Sec. 4006.4(c).
    (c) Outstanding waiver. Before the end of the statutory amortization 
period, a portion of a minimum funding waiver for a plan is considered 
outstanding unless--
    (1) A credit balance exists in the funding standard account 
(described in section 302(b) of ERISA and section 412(b) of the Code) 
that is no less than the outstanding balance of all waivers for the 
plan;
    (2) A waiver condition or contractual obligation requires that a 
credit balance as described in paragraph (c)(1) continue to be 
maintained as of the end of each plan year during the remainder of the 
statutory amortization period for the waiver; and
    (3) No portion of any credit balance described in paragraph (c)(1) 
is used to make any required installment under section 302(e) of ERISA 
or section 412(m) of the Code for any plan year during the remainder of 
the statutory amortization period.
    (d) Exempt entities. A person is an exempt entity if the person--
    (1) Is not a contributing sponsor of a plan (other than an exempt 
plan);
    (2) Has revenue for its fiscal year ending within the controlled 
group's nformation year that is five percent or less of the controlled 
group's revenue for the fiscal year(s) ending within the information 
year;
    (3) Has annual operating income for the fiscal year ending within 
the controlled group's information year that is no more than the greater 
of--
    (i) Five percent of the controlled group's annual operating income 
for the fiscal year(s) ending within the information year, or
    (ii) $5 million; and
    (4) Has net assets at the end of the fiscal year ending within the 
controlled group's information year that is no more than the greater 
of--
    (i) Five percent of the controlled group's net assets at the end of 
the fiscal year(s) ending within the information year, or
    (ii) $5 million.

[61 FR 34022, July 1, 1996, as amended at 70 FR 11544, Mar. 9, 2005]