Whoops--forgot about the PBGC

[Guest flogger]

Let's see if anyone visits this part of the bulletin board.

I'm taking over (of course it's not my fault) finishing off the admin for the final year reporting for a terminated DB plan

The assets/benefits have all been distributed in Dec 2003--and all participant disclosures, documentation and benefit calculations look in order. 1099R's were filed.

However, the Plan apparently never notified the PBGC as the file contains no evidence of Form 500, or EA-S, or a 501.

There are/were only 3 participants in this plan and the annual PBGC premium was $57. Last filed in July 2003 with PBGC-1 form.

Any ideas on how to fix the lack of PBGC filing?

[david rigby]

As far as I know, the PBGC notification is the only required one. It was my impression that a DB plan termination without proper notification, and without waiting for the 60-day no action period, is not a termination at all, and the plan appears to have made distributions that may not be authorized. The plan may have even violated its own terms by not notifying PBGC.

Get thee to an experienced ERISA attorney.

[Blinky the 3-eyed Fish]

I agree with pax, except before contacting an attorney I would try contacting the PBGC to first confirm that no filing was made. If you find that to be the case, then call back a few days later and ask them an "anonymous" question as to what to do. Who knows how accomodating they will be?

Of course, as pax mentions, you may have a document issue too.

[Guest flogger]

I will take your advise Blinky. Thanks.