PBGC Updates Filing Portal to Include 2 New Forms

The Pension Benefit Guaranty Corporation updated its e-filing portal on December 8, allowing pension plan sponsors to submit standard termination filings—including those with missing participants—and coverage determination request forms.

The PGBC’s announcement stated that the changes would expand the type of forms available electronically, simplifying the process for plan sponsors and administrators.  

The standard termination process is one in which a plan sponsor ends a plan by settling obligations with respect to all benefits accrued. Section 4041(b) of the Employee Retirement Income Security Act requires that sponsors file a standard termination notice with the PBGC, consisting of PBGC Form 500, 180 days after the proposed termination date or 60 days before making any distribution governed by Section 4041(b) of ERISA and Subpart B of PBGC’s standard termination regulations.

Plan sponsors can submit a coverage determination request to determine whether their qualified defined benefit plan is covered by PBGC insurance.

Other forms single-employer plan sponsors may submit through the PBGC’s portal include ERISA 4010 filings, reportable event filings and settlement agreements.

For multiemployer plans, Special Financial Assistance Program applications, termination notices, regular financial assistance applications, insolvency notices and various funding notices are available through the portal.