PBGC: Plans Missing Pension Payments Need Form 200

April 16, 2008 (PLANSPONSOR.com) - The Pension Benefit Guaranty Corp. (PBGC) has reminded defined benefit plan sponsors about the requirement to file a special form when a required pension payment is missed.

A PBGC news release said its Form 200 should be submitted if a required minimum contribution is missed and the plan has an unpaid balance of more than $1 million. The form must be filed within 10 days of the payment’s due date.

The IRS recently issued guidance on the calcualtion of minimum required distributions for single-employer plans (See IRS Continues Fleshing Out PPA DB Funding Mandates ). The payment due date for a calendar-year plan required to make quarterly installments was April 15.

The new regulations are proposed to be effective for plan years beginning on or after January 1, 2009, but the IRS said plan sponsors may rely on them for plan years beginning in 2008.

The new proposed regulations are here .  Form 200 is here .

Plan sponsors with questions about PBGC Form 200 filing requirements should contact PBGC’s Scot McCulloch at (202) 326-4070 x3033 or mcculloch.scot@pbgc.gov .