PBGC Termination..or Not?

[mphs77]

We have a client with a DB/DC Offset arrangement. There are 6 participants in the DB Plan, but with the offset only the owner has an accrued benefit. The DB Plan has been filing PBGC premiums each year.

The DB Plan is now going to terminate. As the owner is the only participant with a benefit in the DB Plan in the year of termination, would this be considered as an owner only Plan and therefor not required to file a PBGC premium for the year? Would it be required to file for a PBGC termiantion?

Sorry if I have left anything material to the case out.

Thanks

[WDIK]

We had a similar situation recently. The premium division of the PBGC continued to send premium notices and would not remove the client from their system until the standard termination division told them the plan was closed. The standard termination divison would not close the plan until they received Form 501. No other explanations or requests seemed to suffice.

[mphs77]

We had a similar situation recently. The premium division of the PBGC continued to send premium notices and would not remove the client from their system until the standard termination division told them the plan was closed. The standard termination divison would not close the plan until they received Form 501. No other explanations or requests seemed to suffice.

Thanks WD!