Amortization Period Extension

[JAY21]

I may have my first Val where for the 2011 plan year the employer may want to use the 2+7 extended amortization period pursuant to the IRS Notice 2011-3 guidance that explains IRC 430©(2)(D).

It appears this amortization extension can still be used for 2011 (the last year available) if I'm reading it correctly.

I see that this is a PBGC reportable event. Is this reported on the PBGC Form 10 or is there an abbreviated method that is used for this PBGC reporting purpose. Thanks for any input.

[SoCalActuary]

Here is the resource noted for more information:

"For further information regarding

this notice, please contact the Employee

Plans taxpayer assistance answering

service at 1–877–829–5500 (a toll-free

number) or e-mail Ms. Zimmerman at

RetirementPlanQuestions@irs.gov."

I looked on the PBGC.gov website, and the current Form 10 instructions. No luck finding any guidance.

Let us know what you find.

[mattmc82]

From a ASPPA webcast****

The PBGC must also be notified of the funding relief election if the plan is

covered by the PBGC. This notice is done by emailing a copy of the

election to the PBGC within 30 days after the election is made to:

1. singleemployer.

funding.relief.election@pbgc.gov.

2. The subject line of the email

must contain the plan sponsor’s

employer identification number, the plan number, and the name of

the plan.

[JAY21]

Thank you. I was hoping there was an abbreviated reporting method.

[david rigby]

I was hoping there was an abbreviated reporting method.

Ha ha ha.

[Mr. T]

Thank you. I was hoping there was an abbreviated reporting method.

Really? What you think would be easier or more "abbreviated" than an email?

[tymesup]

The election must be signed by the end of the plan year. If this is a calendar year plan, it's too late for the 2011 plan year.

The election must be emailed to the PBGC within 30 (31?) days from the date the election is signed.

[JAY21]

I meant that the e-mail approach "IS" the abbreviated method I was hoping for. It doesn't get any easier than that.