United States Government Publishing Office publisher pbl distributor dst United States National Archives and Records Administration Office of the Federal Register author aut Government Organization text government publication eng FR Regulatory Information 2006_register executive 2014-05-29 article Part IV Rules and Regulations D09002ee1c80f8d2f D09002ee1c80f8e16 United States Department of Labor originator org United States Government Agency or Subagency United States Employee Benefits Security Administration originator org United States Government Agency or Subagency This document contains three final regulations under the Employee Retirement Income Security Act of 1974 (ERISA or the Act) that facilitate the termination of, and distribution of benefits from, individual account pension plans that have been abandoned by their sponsoring employers. The first regulation establishes a procedure for financial institutions holding the assets of an abandoned individual account plan to terminate the plan and distribute benefits to the plan's participants and beneficiaries, with limited liability. The second regulation provides a fiduciary safe harbor for making distributions from terminated plans on behalf of participants and beneficiaries who fail to make an election regarding a form of benefit distribution. The third regulation establishes a simplified method for filing a terminal report for abandoned individual account plans. Appendices to these rules contain model notices for use in connection therewith. These regulations will affect fiduciaries, plan service providers, and participants and beneficiaries of individual account pension plans. 71 FR 20820 https://www.govinfo.gov/app/details/FR-2006-04-21/06-3814 06-3814 fr21ap06-13 RIN 1210-AA97 4150-29-P https://www.govinfo.gov/app/details/FR-2006-04-21/06-3814 https://www.govinfo.gov/content/pkg/FR-2006-04-21/html/06-3814.htm https://www.govinfo.gov/content/pkg/FR-2006-04-21/pdf/06-3814.pdf Accounting Employee Benefit Plans Pensions Reporting and Recordkeeping Requirements Employee Retirement Income Security Act Employee Stock Ownership Plans Exemptions Fiduciaries Investments Investments Foreign Party in Interest Pension and Welfare Benefit Programs Office Prohibited Transactions Real Estate Securities Surety Bonds Trusts and Trustees Retirement 35 p. 20820 20854 71 FR 20820 Title 29 Part 2520 29 CFR Part 2520 Title 29 Part 2550 29 CFR Part 2550 Title 29 Part 2578 29 CFR Part 2578 RIN 1210-AA97 Termination of Abandoned Individual Account Plans; Federal Register Vol. 71, Issue RULE 06-3814 IV DEPARTMENT OF LABOR Employee Benefits Security Administration 2006-05-22 4150-29-P 06-3814 Final regulations.

This document contains three final regulations under the Employee Retirement Income Security Act of 1974 (ERISA or the Act) that facilitate the termination of, and distribution of benefits from, individual account pension plans that have been abandoned by their sponsoring employers. The first regulation establishes a procedure for financial institutions holding the assets of an abandoned individual account plan to terminate the plan and distribute benefits to the plan's participants and beneficiaries, with limited liability. The second regulation provides a fiduciary safe harbor for making distributions from terminated plans on behalf of participants and beneficiaries who fail to make an election regarding a form of benefit distribution. The third regulation establishes a simplified method for filing a terminal report for abandoned individual account plans. Appendices to these rules contain model notices for use in connection therewith. These regulations will affect fiduciaries, plan service providers, and participants and beneficiaries of individual account pension plans.

All three regulations are effective May 22, 2006. Stephanie L. Ward or Melissa R. Spurgeon, Office of Regulations and Interpretations, Employee Benefits Security Administration, (202) 693-8500. This is not a toll-free number. Accounting Employee Benefit Plans Pensions Reporting and Recordkeeping Requirements Employee Retirement Income Security Act Employee Stock Ownership Plans Exemptions Fiduciaries Investments Investments Foreign Party in Interest Pension and Welfare Benefit Programs Office Prohibited Transactions Real Estate Securities Surety Bonds Trusts and Trustees Retirement Employee Retirement Income Security Act: Abandoned individual retirement account plans; termination, http://www.dol.gov/ebsa Vol. 71, no. 77 Office of the Federal Register, National Archives and Records Administration 2006-04-21 continuing daily deposited born digital 355 p. Table of Contents: AE 2.7: GS 4.107: AE 2.106: KF70.A2 https://www.govinfo.gov/app/details/FR-2006-04-21 P0b002ee1892c616d 0097-6326 0042-1219 0364-1406 769-004-00000-9 000582072 f:fr21ap06 https://www.govinfo.gov/app/details/FR-2006-04-21 https://www.govinfo.gov/content/pkg/FR-2006-04-21/pdf/FR-2006-04-21.pdf https://www.govinfo.gov/content/pkg/FR-2006-04-21/xml/FR-2006-04-21.xml fdlp 20517 20862 DGPO 2014-05-29 2024-06-06 FR-2006-04-21 machine generated eng FR FR-2006-04-21 71 77