Within 30 days after the plan administrator or the contributing sponsor knows or has reason to know that a reportable event described in subsection (c) has occurred, he shall notify the corporation that such event has occurred, unless a notice otherwise required under this subsection has already been provided with respect to such event. The corporation is authorized to waive the requirement of the preceding sentence with respect to any or all reportable events with respect to any plan, and to require the notification to be made by including the event in the annual report made by the plan.
For purposes of subparagraph (B), the funded vested benefit percentage means the percentage which the aggregate value of the assets of such plans bears to the aggregate vested benefits of such plans (determined in accordance with section 1306(a)(3)(E)(iii) of this title).
For purposes of this section a reportable event occurs-
For purposes of paragraph (7), all distributions to a participant within any 24-month period are treated as a single distribution.
The Secretary of the Treasury shall notify the corporation-
The Secretary of Labor shall notify the corporation-
Any information or documentary material submitted to the corporation pursuant to this section shall be exempt from disclosure under section 552 of title 5, and no such information or documentary material may be made public, except as may be relevant to any administrative or judicial action or proceeding. Nothing in this section is intended to prevent disclosure to either body of Congress or to any duly authorized committee or subcommittee of the Congress.
29 U.S.C. § 1343
EDITORIAL NOTES
REFERENCES IN TEXTThe Securities Exchange Act of 1934, referred to in subsec. (b)(2)(B), is act June 6, 1934, ch. 404, 48 Stat. 881, which is classified principally to chapter 2B (§78a et seq.) of Title 15, Commerce and Trade. For complete classification of this Act to the Code, see section 78a of Title 15 and Tables.
AMENDMENTS2006-Subsec. (c)(7). Pub. L. 109-280 substituted "1321(d)" for "1322(b)(6)" in introductory provisions.1994-Subsec. (a). Pub. L. 103-465, §771(a), (e) (1), in first sentence, inserted "or the contributing sponsor" after "administrator", substituted "subsection (c)" for "subsection (b)", and inserted before period at end ", unless a notice otherwise required under this subsection has already been provided with respect to such event", and struck out last sentence which read as follows: "Whenever an employer making contributions under a plan to which section 1321 of this title applies knows or has reason to know that a reportable event has occurred he shall notify the plan administrator immediately."Subsec. (b). Pub. L. 103-465, §771(b), added subsec. (b). Former subsec. (b) redesignated (c).Subsec. (c). Pub. L. 103-465, §771(b), redesignated subsec. (b) as (c). Former subsec. (c) redesignated (d). Subsec. (c)(8) to (13). Pub. L. 103-465, §771(c), struck out "or" at end of par. (8), added pars. (9) to (13), and struck out former par. (9) which read as follows: "when any other event occurs which the corporation determines may be indicative of a need to terminate the plan.". Subsecs. (d), (e). Pub. L. 103-465, §771(b), (e) (1), redesignated subsecs. (c) and (d) as (d) and (e), respectively, and substituted "subsection (c)" for "subsection (b)" in par. (1) of each subsec.Subsec. (f). Pub. L. 103-465, §771(d), added subsec. (f). 1989-Subsec. (b)(4). Pub. L. 101-239 substituted "Internal Revenue Code of 1986" for "Internal Revenue Code of 1954", which for purposes of codification was translated as "title 26" thus requiring no change in text.
STATUTORY NOTES AND RELATED SUBSIDIARIES
EFFECTIVE DATE OF 2006 AMENDMENT Amendment by Pub. L. 109-280 effective Jan. 1, 2006, see section 407(d)(2) of Pub. L. 109-280 set out as a note under section 1321 of this title.
EFFECTIVE DATE OF 1994 AMENDMENT Amendment by Pub. L. 103-465 effective for events occurring 60 days or more after Dec. 8, 1994, see section 771(f) of Pub. L. 103-465 set out as a note under section 1342 of this title.
EFFECTIVE DATE OF 1989 AMENDMENT Amendment by Pub. L. 101-239 effective, except as otherwise provided, as if included in the provision of the Tax Reform Act of 1986, Pub. L. 99-514, to which such amendment relates, see section 7891(f) of Pub. L. 101-239 set out as a note under section 1002 of this title.