[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: 29CFR2520.103-3]



[Page 427-428]

 

                             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.  2520.103-3  Exemption from certain annual reporting requirements 

for assets held in a common or collective trust.



    (a) General. Under the authority of sections 103(b)(3)(G), 

103(b)(4), 104(a)(2)(B), 104(a)(3), 110 and 505 of the Act, a plan whose 

assets are held in whole or in part in a common or collective trust 

maintained by a bank, trust company, or similar institution which meets 

the requirements of paragraph (b) of this section shall include as part 

of the annual report required to be filed under Sec. Sec.  2520.104a-5 

or 2520.104a-6 the information described in paragraph (c) of this 

section. Such plan is not required to include in its annual report 

information concerning the individual transactions of the common or 

collective trust. This exemption has no application to assets not held 

in such trusts.

    (b) Application. This provision applies only to a plan some or all 

of the assets of which are held in a common or collective trust 

maintained by a bank, trust company, or similar institution regulated 

and supervised and subject to periodic examination by a State or Federal 

agency. For purposes of this section,

    (1) A common or collective trust is a trust which consists of the 

assets of two or more participating entities and is maintained for the 

collective investment and reinvestment of assets contributed thereto, 

and

    (2) Plans maintained by a single employer or by the members of a 

controlled group of corporations, as defined in section 1563(a) of the 

Internal Revenue Code of 1954, shall be deemed to be a single 

participating entity.

    (c) Contents. (1) A plan which meets the requirements of paragraph 

(b) of this section, and which invests in a common or collective trust 

that files a Form 5500 report in accordance with Sec.  2520.103-9, shall 

include in its annual report: information required by the instructions 

to Schedule H (Financial Information) or Schedule I (Financial 

Information--Small Plan) about the current value of and net investment 

gain or loss relating to the units of participation in the common or 

collective trust held by the plan; identifying information about the 

common or collective trust including its name, employer identification 

number, and any other information required by the instructions to the 

Schedule D (DFE/Participating Plan Information); and such other 

information as is required in the separate statements and schedules of 

the annual report about the value of the plan's units of participation 

in the common or collective trust and transactions involving the 

acquisition and disposition by the plan of units of participation in the 

common or collective trust.

    (2) A plan which meets the requirements of paragraph (b) of this 

section, and which invests in a common or collective trust that does not 

file a Form 5500 report in accordance with Sec.  2520.103-9, shall 

include in its annual report: information required by the instructions 

to Schedule H (Financial Information) or Schedule I (Financial 

Information--Small Plan) about the current value of the plan's allocable 

portion of the underlying assets and liabilities of the common or 

collective trust and the net investment gain or loss relating to the 

units of participation in the common or collective trust held by the 

plan; identifying information about the common or collective trust 

including its name, employer identification number, and any other 

information required by the instructions to the Schedule D (DFE/

Participating Plan Information); and such other information as is 

required in the separate statements and schedules of the annual report 

about the value of the plan's units of participation in the common



[[Page 428]]



or collective trust and transactions involving the acquisition and 

disposition by the plan of units of participation in the common or 

collective trust.



[43 FR 10140, Mar. 10, 1978, as amended at 65 FR 21081, Apr. 19, 2000]