---
kind: "section"
citation: "29 C.F.R. § 4043.34"
title: "29"
number: "4043.34"
heading: "Loan default."
url: "https://uscodex.org/cfr/29/4043.34"
---

# §4043.34. Loan default.

- (a) **Reportable event.** A reportable event occurs for a plan when, with respect to a loan with an outstanding balance of $10 million or more to a member of the plan's controlled group—
  - (1) There is an acceleration of payment or a default under the loan agreement, or
  - (2) The lender waives or agrees to an amendment of any covenant in the loan agreement the effect of which is to cure or avoid a breach that would trigger a default.
- (b) **Waivers—**
  - (1) **De minimis 10-percent segment.** Notice under this section is waived if the debtor is not a contributing sponsor of the plan and represents a de minimis 10-percent segment of the plan's controlled group for the most recent fiscal year(s) ending on or before the date the reportable event occurs.
  - (2) **Foreign entity.** Notice under this section is waived if the debtor is a foreign entity other than a foreign parent.

## Notes

### Authority

Authority: 29 U.S.C. 1083(k), 1302(b)(3), 1343.

### Source

Source: 80 FR 55002, Sept. 11, 2015, unless otherwise noted.