Form 6088 and unfunded DB Plan

[Ananda]

A DB plan is being terminated and I'm filing the 5310 and Form 6088 for the plan. Pursuant to the Form 6088 instructions, the plan is deemed "underfunded" since the sum of the value of benefit liabilities exceeds the value of plan assets. Given these facts, the instructions to the Form 6088 state that if the DB Plan is underfunded, columns (g) of the form have to be filed out. Column (g) references ERISA Section 4044 which provides the priority ordering allocation of plan assets based on whether participants made contributions, elected annuities, etc. It seems that based on the 6088 instructions, column (g) requested allocations must be filled out. But does this only apply to PBGC governed plans or all underfunded DB Plan?

[Mike Preston]

All.  It is an IRS form, not a PBGC form.