excise tax due while funding waiver application is pending?

[Guest Mariner]

Thoughts greatly appreciated on the following scenario: Single employer plan files funding waiver application for the 2007 plan year. The 8 1/2 month deadline for making contributions to avoid a funding deficiency for that year has expired, but the application is still pending. Absent a favorable outcome on the waiver application, a funding deficiency exists. Is a Form 5330 with 10% excise tax now due, or only if/when the waiver application is denied. Same question with respect to PBGC notice under Section 4043©(5). ERISA Section 101(d)(2) provides an exception to the participant notice requirement while a funding waiver is pending, but cannot find a similar exception for the excise tax or reportable event notice.

[Lou S.]

Somebody who has gone through this before may have more experience than me, but my understand is that you have to pay the excise tax and then request a refund when the waiver is approved.

I know it sounds dumb but the IRS and PBGC aren't always the most logical entities.