---
kind: "range"
citation: "29 C.F.R. §§ 4262.6–4262.8"
title: "29"
from: "4262.6"
to: "4262.8"
count: 3
url: "https://uscodex.org/cfr/29/4262.6..4262.8"
---

# §4262.6. Information to be filed.

- (a) **In general.** An application for special financial assistance must include the information specified in this section and [§§ 4262.7](/cfr/29/4262.7.md) (plan information) and 4262.8 (actuarial and financial information); a copy of the executed plan amendment required under [paragraph (e)(1)](#e-1) of this section; a copy of the proposed plan amendment required under [paragraph (e)(2)](#e-2) of this section; and a completed checklist and other information as described in the special financial assistance instructions on PBGC's website at www.pbgc.gov. If any of the information required for an application for special financial assistance under this part is not accurately completed or not filed with the application, PBGC may require the plan sponsor to file additional information described under [paragraph (d)](#d) of this section or PBGC may consider the application incomplete. If the correction of an error or omission requires a change to the amount of special financial assistance requested, the application will be considered incomplete.
- (b) **Required trustee signature.** An application for special financial assistance must—
  - (1) Be signed and dated by an authorized trustee, who is a current member of the board of trustees and who is authorized to sign on behalf of the board of trustees, or by another authorized representative of the plan sponsor, with such signature accompanied by the printed name and title of the signer; and
  - (2) Include the following statements signed by an authorized trustee who is a current member of the board of trustees, with such signature accompanied by the printed name and title of the signer: “Under penalty of perjury under the laws of the United States of America, I declare that I am an authorized trustee who is a current member of the board of trustees of the [insert plan name] and that I have examined this application, including accompanying documents, and, to the best of my knowledge and belief, the application contains all the relevant facts relating to the application; all statements of fact contained in the application are true, correct, and not misleading because of omission of any material fact; and all accompanying documents are what they purport to be.”
- (c) **Actuarial calculations.** All calculations that are required in an application for special financial assistance under this part must include a certification by the plan's enrolled actuary.
- (d) **Clarifying and additional information.** PBGC may require a plan sponsor to file additional information, including information to clarify or verify information provided in the plan's application. The plan sponsor must promptly file any such information with PBGC upon request.
- (e) **Duty to amend plan and notify PBGC.** The plan sponsor of a plan applying for special financial assistance must—
  - (1) Amend the plan to include the following special financial assistance provision effective through the end of the last plan year ending in 2051: “Beginning with the SFA measurement date selected by the plan in the plan's application for special financial assistance, notwithstanding anything to the contrary in this or any other governing document, the plan shall be administered in accordance with the restrictions and conditions specified in [section 4262](/cfr/29/4262.md) of ERISA and [29 CFR part 4262](/cfr/29/part4262.md). This amendment is contingent upon approval by PBGC of the plan's application for special financial assistance.”
  - (2) If the plan suspended benefits under section [305(e)(9)](/cfr/29/305.md?p=e-9) or [4245(a)](/cfr/29/4245.md?p=a) of ERISA, amend the plan to include provisions substantially similar to the following to, in accordance with guidance issued by the Secretary of the Treasury under section 432(k) of the Code, {I} reinstate benefits, as required by [§ 4262.15(a)(1)](/cfr/29/4262.15.md?p=a-1), and {II} make payments of previously suspended benefits, as required by [§ 4262.15(a)(2)](/cfr/29/4262.15.md?p=a-2): “Effective as of the first month in which special financial assistance is paid to the plan, the plan shall reinstate all benefits that were suspended under section [305(e)(9)](/cfr/29/305.md?p=e-9) or [4245(a)](/cfr/29/4245.md?p=a) of ERISA. The plan shall pay each participant and beneficiary that is in pay status as of the date special financial assistance is paid to the plan the aggregate amount of the participant's or beneficiary's benefits that were not paid because of the suspension, with no actuarial adjustment or interest. Such payment shall be made [choose whichever applies: `in a lump sum no later than 3 months after the date the special financial assistance is paid to the plan, irrespective of whether the participant or beneficiary dies after the date special financial assistance is paid' or `in equal monthly installments over a period of 5 years, commencing no later than 3 months after the date the special financial assistance is paid to the plan, with all installments to be paid irrespective of whether the participant or beneficiary survives to the end of the 5-year period'].”
  - (3) During any time in which an application is pending approval by PBGC, the plan sponsor must promptly notify PBGC in writing as soon as the plan sponsor becomes aware that any material fact or representation contained in or relating to the application, or in any supporting documents, is no longer accurate, or that any material fact or representation was omitted from the application or supporting documents.
- (f) **Disclosure of information.** Unless confidential under the Privacy Act, all information that is filed with PBGC for an application for special financial assistance under this part may be made publicly available, at PBGC's sole discretion, on PBGC's website at www.pbgc.gov or otherwise publicly disclosed. Except to the extent required by the Privacy Act, PBGC provides no assurance of confidentiality in any information or documentation included in an application for special financial assistance.

# §4262.7. Plan information.

- (a) **Basic information.** An application for special financial assistance must include all of the following information with respect to the plan and amount of special financial assistance requested:
  - (1) **Name of the plan, Employer Identification Number (EIN), and three-digit Plan Number (PN).**
  - (2) **Name of the individual filing the application and role of the individual with respect to the plan.**
  - (3) Name, address, email, and telephone number of the plan sponsor and the plan sponsor's authorized representatives, if any.
  - (4) The total amount of special financial assistance requested under § [4262.4(a)(1)](/cfr/29/4262.4.md?p=a-1) or [(2)](/cfr/29/4262.4.md?p=a-2).
- (b) **Eligibility.** An application must identify the eligibility requirements in [§ 4262.3](/cfr/29/4262.3.md) that the plan satisfies to be eligible for special financial assistance. An application for a plan that is eligible under [section 4262(b)(1)(C)](/cfr/29/4262.md?p=b-1-C) of ERISA must include a demonstration to support that the plan meets the eligibility requirements.
- (c) **Priority group identification.** An application must identify any priority group under [§ 4262.10(d)(2)](/cfr/29/4262.10.md?p=d-2) that the plan is in. An application must include a demonstration to support the plan's inclusion in a priority group, unless the plan is insolvent under [section 4245(a)](/cfr/29/4245.md?p=a) of ERISA, has implemented a suspension of benefits under [section 305(e)(9)](/cfr/29/305.md?p=e-9) of ERISA as of March 11, 2021, is in critical and declining status (as defined in [section 305(b)(6)](/cfr/29/305.md?p=b-6) of ERISA) and had 350,000 or more participants, or is listed on PBGC's website at www.pbgc.gov as a plan in priority group 6, as defined under [§ 4262.10(d)(2)(vi)](/cfr/29/4262.10.md?p=d-2-vi).
- (d) **Plans with a suspension of benefits.** If a plan previously suspended benefits under section [305(e)(9)](/cfr/29/305.md?p=e-9) or [4245(a)](/cfr/29/4245.md?p=a) of ERISA, its application must include a description of how the plan will reinstate the benefits that were previously suspended and a proposed schedule showing aggregate amount and timing of payments (in accordance with [§ 4262.15](/cfr/29/4262.15.md)) to participants and beneficiaries under the plan. The proposed schedule should be prepared assuming the effective date for reinstatement is the SFA measurement date and that payments for previously suspended benefits described in [§ 4262.15(a)(2)](/cfr/29/4262.15.md?p=a-2) are paid or commence on the SFA measurement date. If the plan restored benefits under [26 CFR 1.432(e)(9)-1(e)(3)](/cfr/26/1.432..1.md) before the SFA measurement date, the proposed schedule should reflect the amount and timing of payments of restored benefits and the effect of the restoration on the benefits remaining to be reinstated.
- (e) **Plan documentation.** An application must include all of the following plan documentation:
  - (1) Most recent plan document or restatement of the plan document and all subsequent amendments adopted (if any), including a copy of the executed plan amendment required under [§ 4262.6(e)(1)](/cfr/29/4262.6.md?p=e-1).
  - (2) If the plan suspended benefits under section [305(e)(9)](/cfr/29/305.md?p=e-9) or [4245(a)](/cfr/29/4245.md?p=a) of ERISA, a copy of the proposed plan amendment(s) required under [§ 4262.6(e)(2)](/cfr/29/4262.6.md?p=e-2) and a certification by the plan sponsor that the plan amendment(s) will be timely adopted. Such certification must be signed either by all members of the plan's board of trustees or by one or more trustees duly authorized to sign the certification on behalf of the entire board and to commit the board to timely adopting the amendment after the plan's application for special financial assistance is approved, with each signature accompanied by the printed name and title of the signer.
  - (3) Most recent trust agreement or restatement of the trust agreement and all subsequent adopted amendments (if any).
  - (4) **Most recent IRS determination letter.**
  - (5) Actuarial valuation reports completed for the 2018 plan year and each subsequent actuarial valuation report completed before the date the plan's initial application for special financial assistance is filed.
  - (6) Most recent rehabilitation plan (or funding improvement plan, if applicable), including all subsequent amendments and updates, and the percentage of total contributions received under each schedule of the rehabilitation plan for the most recent plan year available. If the most recent rehabilitation plan does not include historical documentation of rehabilitation plan changes (if any) that occurred in calendar year 2020 and later, these details must be provided in a clearly identified supplemental document.
  - (7) **Most recent Form 5500 and all schedules and attachments (including the audited financial statement).**
  - (8) Plan actuary's certification of plan status required under [section 305(b)(3)](/cfr/29/305.md?p=b-3) of ERISA completed for the 2018 plan year and each subsequent annual certification of plan status completed before the date the plan's initial application was filed, with documentation supporting each certification, which must include the projections and information required in the special financial assistance instructions on PBGC's website at www.pbgc.gov.
  - (9) **Most recent statement for each of the plan's cash and investment accounts.**
  - (10) **Most recent plan financial statement (audited, or unaudited if audited is not available).**
  - (11) **Bank account and other information necessary for electronic payment of funds.**
  - (12) All written policies and procedures governing withdrawal liability determination, assessment, collection, settlement, and payment.

# §4262.8. Actuarial and financial information.

- (a) **Required information.** An application for special financial assistance must include all of the following actuarial and financial information:
  - (1) For each plan year from the 2018 plan year until the most recent plan year for which the Form 5500 is required to be filed by the date the plan's initial application for special financial assistance is filed, the projection of expected benefit payments as required to be attached to the Form 5500 Schedule MB if the response to the question at line 8b(1) of the Form 5500 Schedule MB is “Yes”.
  - (2) For a plan that has 10,000 or more participants required to be entered on line 6f of the plan's most recently filed Form 5500 (as of the date the plan's initial application for special financial assistance is filed), a listing of the 15 largest contributing employers and the contribution amounts for each such contributing employer for the most recently completed plan year (before the date the plan's initial application for special financial assistance is filed).
  - (3) Historical plan financial information for the 2010 plan year through the plan year immediately preceding the date the plan's initial application was filed that separately identifies: Total contributions; total contribution base units; average contribution rates; number of active participants at the beginning of each plan year; and other sources of non-investment income, including, if applicable, withdrawal liability payments collected, contributions from reciprocity agreements, and other sources of contributions or income not already identified.
  - (4) Information used to determine the amount of the requested special financial assistance, including all of the following information—
    - (i) Non-SFA interest rate required under [§ 4262.4(e)(1)](/cfr/29/4262.4.md?p=e-1), including supporting details on how it was determined, and SFA interest rate required under [§ 4262.4(e)(2)](/cfr/29/4262.4.md?p=e-2), including supporting details on how it was determined.
    - (ii) Fair market value of plan assets determined as of the SFA measurement date; a certification from the plan sponsor with respect to the accuracy of this amount, including information that substantiates the asset value and any projections to the SFA measurement date (including details and supporting rationale); and a reconciliation of the fair market value of plan assets from the date of the most recent audited plan financial statement to the SFA measurement date showing contributions, withdrawal liability payments, benefit payments, administrative expenses, and investment income.
    - (iii) For the calculation method used to determine the requested amount of special financial assistance, the plan year in which the sum of annual projected benefit payments and administrative expenses for the year exceeds the beginning-of-year projected SFA assets.
  - (5) The amount of special financial assistance calculated under [§ 4262.4(a)(1)](/cfr/29/4262.4.md?p=a-1) and information used to determine such amount, based on a deterministic projection, including all of the following information—
    - (i) Special financial assistance calculated under [§ 4262.4(a)(1)](/cfr/29/4262.4.md?p=a-1) determined as a lump sum as of the SFA measurement date.
    - (ii) **For each plan year in the SFA coverage period—** The projected amount of contributions, projected withdrawal liability payments reflecting a reasonable allowance for amounts considered uncollectible, and other payments expected to be made to the plan.
    - (iii) **For each plan year in the SFA coverage period—** Payments described in [§ 4262.4(b)(1)](/cfr/29/4262.4.md?p=b-1) attributable to the reinstatement of benefits under [§ 4262.15](/cfr/29/4262.15.md) that were previously suspended through the SFA measurement date.
    - (iv) **For each plan year in the SFA coverage period—** Benefit payments described in [§ 4262.4(b)(1)](/cfr/29/4262.4.md?p=b-1) (including any benefits restored under [26 CFR 1.432(e)(9)-1(e)(3)](/cfr/26/1.432..1.md) and excluding the previously suspended benefits described in [paragraph (a)(5)(iii)](#a-5-iii) of this section), separately for current retirees and beneficiaries in pay status, current terminated participants not yet in pay status, current active participants, and new entrants; and total benefit payments paid and expected to be paid from projected SFA assets separately from total benefit payments paid and expected to be paid from non-SFA assets after the projected SFA assets are fully exhausted.
    - (v) **For each plan year in the SFA coverage period—** Administrative expenses paid and expected to be paid (excluding the amount owed PBGC under [section 4261](/cfr/29/4261.md) of ERISA), separately for PBGC premiums and all other administrative expenses; and total administrative expenses paid and expected to be paid from projected SFA assets separately from total administrative expenses paid and expected to be paid from non-SFA assets after the projected SFA assets are fully exhausted.
    - (vi) **For each plan year in the SFA coverage period—** The projected total participant count at the beginning of the year.
    - (vii) **For each plan year in the SFA coverage period—** The projected investment income earned by assets not attributable to special financial assistance based on the interest rate required under [§ 4262.4(e)(1)](/cfr/29/4262.4.md?p=e-1) and the projected fair market value of non-SFA assets at the end of each plan year.
    - (viii) **For each plan year in the SFA coverage period—** The projected investment income earned by amounts attributable to special financial assistance based on the interest rate required under [§ 4262.4(e)(2)](/cfr/29/4262.4.md?p=e-2) (excluding investment returns for the plan year in which the sum of the annual projected benefit payments and administrative expenses for the year exceeds the beginning-of-year projected SFA assets) and the projected fair market value of SFA assets at the end of each plan year.
  - (6) For MPRA plans, the amount of special financial assistance calculated under [§ 4262.4(a)(2)(i)](/cfr/29/4262.4.md?p=a-2-i) and information used to determine such amount, based on a deterministic projection, including all of the following information—
    - (i) Special financial assistance calculated under [§ 4262.4(a)(2)(i)](/cfr/29/4262.4.md?p=a-2-i) determined as a lump sum as of the SFA measurement date.
    - (ii) All items identified in [paragraphs (a)(5)(ii) through (viii)](#a-5-ii..a-5-viii) of this section that support the amount described in [paragraph (a)(6)(i)](#a-6-i) of this section.
  - (7) For MPRA plans, if the amount calculated under [§ 4262.4(a)(2)(ii)](/cfr/29/4262.4.md?p=a-2-ii) is the greatest amount calculated under [§ 4262.4(a)(2)](/cfr/29/4262.4.md?p=a-2), the amount of special financial assistance calculated under [§ 4262.4(a)(2)(ii)](/cfr/29/4262.4.md?p=a-2-ii) and information used to determine the amount under [§ 4262.4(a)(2)(ii)](/cfr/29/4262.4.md?p=a-2-ii), based on a deterministic projection, including all of the following information—
    - (i) Special financial assistance calculated under[§ 4262.4(a)(2)(ii)](/cfr/29/4262.4.md?p=a-2-ii) determined as a lump sum as of the SFA measurement date.
    - (ii) **For each plan year in the SFA coverage period—** Benefit payments described in [§ 4262.4(b)(1)](/cfr/29/4262.4.md?p=b-1) (excluding the previously suspended benefits described in [paragraph (a)(5)(iii)](#a-5-iii) of this section), separately for current retirees and beneficiaries in pay status, current terminated participants not yet in pay status, current active participants, and new entrants; and total benefit payments paid or expected to be paid. For each participant group except new entrants: benefit payments after reinstatement (excluding the previously suspended benefits described in [paragraph (a)(5)(iii)](#a-5-iii) of this section), the reduced benefit payments under the approved benefit suspension, and the difference due to the reinstatement of benefits.
    - (iii) The present value, as of the SFA measurement date using the SFA interest rate required under [§ 4262.4(e)(2)](/cfr/29/4262.4.md?p=e-2), of the amounts described in [paragraph (a)(5)(iii)](#a-5-iii) of this section.
    - (iv) The present value, as of the SFA measurement date using the SFA interest rate required under [§ 4262.4(e)(2)](/cfr/29/4262.4.md?p=e-2), of the difference in benefit amounts due to the reinstatement of benefits, as described in [paragraph (a)(7)(ii)](#a-7-ii) of this section.
  - (8) Projected contributions and withdrawal liability payments, reflecting a reasonable allowance for amounts considered uncollectible, used to calculate the requested special financial assistance amount in [§ 4262.4](/cfr/29/4262.4.md), including total contributions, contribution base units, average contribution rate(s), reciprocal contributions (if applicable), additional contributions from the rehabilitation plan, and any other contributions, and number of active participants at the beginning of each plan year. For withdrawal liability, separate projections for withdrawn employers and for future assumed withdrawals.
  - (9) A description of the development of the assumed future contributions (including assumed contribution rates) and future withdrawal liability payments described in [paragraph (a)(8)](#a-8) of this section.
  - (10) For a plan that has 350,000 or more participants reported on line 6f of its most recently filed Form 5500 (as of the date the plan's initial application for special financial assistance is filed), the participant census data utilized by the plan actuary in developing the cash flow projections included in the application.
  - (11) Documentation of a death audit to identify deceased participants that was completed no earlier than 1 year before the plan's SFA measurement date, including identification of the service provider conducting the audit and a copy of the results of the audit provided to the plan administrator by the service provider.
- (b) **Information required for changed assumptions in initial and revised applications.** An application for a plan that proposes to change any assumption used in the plan's most recently completed certification of plan status before January 1, 2021, must include all of the following information:
  - (1) A table identifying which assumptions used in demonstrating the plan's eligibility for special financial assistance or in calculating the amount of special financial assistance differ from those assumptions used in the plan's most recently completed certification of plan status before January 1, 2021, and detailed narrative explanations (with supporting rationale and information) as described in the special financial assistance instructions on PBGC's website at www.pbgc.gov as to why any assumption used in the certification is no longer reasonable and why the changed assumption is reasonable.
  - (2) Deterministic cash flow projection (“Baseline”) in accordance with the special financial assistance instructions on PBGC's website at www.pbgc.gov that shows the amount of special financial assistance that would be determined if all underlying assumptions used in the projection were the same as those used in the actuarial certification of plan status last completed before January 1, 2021 (excluding the plan's non-SFA and SFA interest rates, which must be the same as the interest rates required under § [4262.4(e)(1)](/cfr/29/4262.4.md?p=e-1) and [(2)](/cfr/29/4262.4.md?p=e-2)). For purposes of this [paragraph (b)(2)](#b-2), certain changes in assumptions as described in the special financial assistance instructions on PBGC's website at www.pbgc.gov should be reflected in the Baseline projection.
  - (3) In accordance with the special financial assistance instructions on PBGC's website at www.pbgc.gov, a reconciliation of the change in the requested special financial assistance due to each changed assumption from the Baseline to the requested special financial assistance amount in [§ 4262.4](/cfr/29/4262.4.md), showing, for each assumption change from the Baseline, a deterministic projection calculated in the same manner as the requested amount in [§ 4262.4](/cfr/29/4262.4.md).
- (c) **Information required for certain events.** An application for a plan with respect to which an event described in [§ 4262.4(f)](/cfr/29/4262.4.md?p=f) occurs on or after July 9, 2021, must include the applicable information related to the event specified in special financial assistance instructions on PBGC's website at www.pbgc.gov.
- (d) **Information required for changed assumptions in supplemented applications.** Any supplemented application filed for a plan described in [§ 4262.4(g)](/cfr/29/4262.4.md?p=g) must include the information specified in the supplemented special financial assistance instructions on PBGC's website at www.pbgc.gov.