[Code of Federal Regulations]

[Title 29, Volume 9]

[Revised as of July 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 29CFR2520.103-12]



[Page 437-438]

 

                             TITLE 29--LABOR

 

 CHAPTER XXV--EMPLOYEE BENEFITS SECURITY ADMINISTRATION, DEPARTMENT OF 

                                  LABOR

 

PART 2520_RULES AND REGULATIONS FOR REPORTING AND DISCLOSURE--Table of 

Contents

 

                  Subpart C_Annual Report Requirements

 

Sec.  2520.103-12  Limited exemption and alternative method of compliance 

for annual reporting of investments in certain entities.



    (a) This section prescribes an exemption from and alternative method 

of compliance with the annual reporting requirements of part 1 of title 

I of ERISA for employee benefit plans whose assets are invested in 

certain entities described in paragraph (c). A plan utilizing this 

method of reporting shall include as part of its annual report the 

current value of its investment or units of participation in the entity 

in the manner prescribed by the Return/Report Form and the instructions 

thereto. The plan is not required to include in its annual report any 

information regarding the underlying assets or individual transactions 

of the entity, provided the information described in paragraph (b) 

regarding the entity is reported directly to the Department on behalf of 

the plan administrator on or before the filing due date for the entity 

in accordance with the instructions to the Form 5500 Annual Return/

Report. The information described in paragraph (b), however, shall be 

considered as part of the annual report for purposes of the requirements 

of section 104(a)(1) of the Act and Sec. Sec.  2520.104a-5 and 

2520.104a-6.

    (b) The following information must be filed regarding the entity 

described in paragraph (c) of this section:

    (1) A Form 5500 ``Annual Return/Report of Employee Benefit Plan'' 

and any statements or schedules required to be attached to the form for 

such entity, completed in accordance with the instructions for the form, 

including Schedule A (Insurance Information), Schedule C (Service 

Provider Information), Schedule D (DFE/Participating Plan Information), 

Schedule G (Financial Transaction Schedules), Schedule H (Financial 

Information), and the schedules described in Sec.  2520.103-10(b)(1) and 

(b)(2). See the instructions for this form. The information reported 

shall be for the fiscal year of such entity ending with or within the 

plan year for which the annual report of the plan is made.

    (2) A report of an independent qualified public accountant regarding 

the financial statements and schedules described in paragraph (b)(1) of 

this section which meets the requirements of Sec.  2520.103-1(b)(5).

    (c) This method of reporting is available to any employee benefit 

plan which has invested in an entity the assets of which are deemed to 

include plan assets under Sec.  2510.3-101, provided the entity holds 

the assets of two or more plans which are not members of a ``related 

group'' of employee benefit plans as that term is defined in paragraph 

(e) of this section. The method of reporting is not available for 

investments in an insurance company pooled separate account or a common 

or collective trust maintained by a bank, trust company, or similar 

institution.

    (d) The examination and report of an independent qualified public 

accountant required by Sec.  2520.103-1 for a plan utilizing the method 

of reporting described in this section need not extend to any 

information concerning an entity which is reported directly to the 

Department under paragraph (b) of this section.

    (e) A ``related group'' of employee benefit plans consists of every 

group of two or more employee benefit plans--

    (1) Each of which receives 10 percent or more of its aggregate 

contributions from the same employer or from members of the same 

controlled group of corporations (as determined under section 1563(a) of 

the Internal Revenue Code, without regard to section 1563(a)(4) 

thereof); or

    (2) Each of which is either maintained by, or maintained pursuant to 

a



[[Page 438]]



collective bargaining agreement negotiated by, the same employee 

organization or affiliated employee organizations. For purposes of this 

paragraph, an ``affiliate'' of an employee organization means any person 

controlling, controlled by, or under common control with such 

organization, and includes any organization chartered by the same parent 

body, or governed by the same constitution and bylaws, or having the 

relation of parent and subordinate.

    (f) Method of filing. The Form 5500 ``Annual Return/Report of 

Employee Benefit Plan'' may be filed electronically or through other 

media in accordance with the instructions accompanying the form provided 

the entity described in paragraph (c) of this section maintains an 

original copy, with all required signatures, as part of its records.



[51 FR 41287, Nov. 13, 1986, as amended at 65 FR 21083, Apr. 19, 2000]