Electronic Code of Federal Regulations
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e-CFR data is current as of January 15, 2021 |
Title 29 → Subtitle B → Chapter XL → Subchapter J → Part 4245 → §4245.3 |
Title 29: Labor
PART 4245—DUTIES OF PLAN SPONSOR OF AN INSOLVENT PLAN
§4245.3 Notice of insolvency.
(a) Requirement of notice. The plan sponsor of a plan that determines that the plan is insolvent in the current plan year or is expected to be insolvent in the next plan year must file with PBGC a notice of insolvency containing the information described in §4245.4(a) and must issue to interested parties a notice of insolvency containing the information described in §4245.4(b). Once notices of insolvency with respect to a plan have been provided as required, no notices of insolvency need be provided with respect to the plan for any subsequent plan year. A notice of insolvency may be combined with a notice of insolvency benefit level under §4245.5 for the same plan year.
(b) When to provide notice. The plan sponsor must provide the notices of insolvency under paragraph (a) of this section at the time described in §4281.43(b) of this chapter.
[84 FR 18724, May 2, 2019]