NOTE: This part applies only to multiemployer plans and to single-employer plans that do not claim an exemption from the variable-rate premium. Unless the plan meets the requirements for one of the exemptions described in the instructions for item 12 of Form 1-EZ in part C, it is not exempt. Having a variable-rate premium of zero is not the same as being exempt from the variable-rate premium. (See B.3.a., p 11, for the forms applicable to other types of filers.) If your plan qualifies for an exemption and also has a variable-rate premium of zero, you may either file Form 1-EZ or file Form 1 with Schedule A. See Part B.3.d., p. 12.
Note For Plans With More Than One Plan Year Beginning in 2005 or 2006: References in these instructions and on Form 1 to the 2005 plan year (and to filings and notices for the 2005 plan year) should be considered to refer to your plan's most recent complete plan year. For example, a plan with a short plan year could have two plan years beginning in calendar 2006. When such a plan makes its premium filing(s) for its second 2006 plan year, the references in these instructions and on Form 1 to the 2005 plan year (and to filings and notices for the 2005 plan year) should be considered to refer to the plan's first 2006 plan year (and to filings and notices for that plan year), because that is the plan's most recent complete plan year. Similarly, if your plan had two plan years beginning in calendar 2005, the references in these instructions and on Form 1 to the 2005 plan year (and to filings and notices for the 2005 plan year) should be considered to refer to the plan's second 2005 plan year, which is the plan's most recent complete plan year.
Check for Amended FilingReturn to Top
If you are amending your 2006 premium filing, check this box and complete the form(s) as explained in B.6., p. 16.
Check for Disaster ReliefReturn to Top
From time to time, when major disasters occur, the PBGC grants disaster relief by waiving late filing and payment penalties for certain plans. Disaster relief notices are issued in Disaster Relief Announcements that are available on the PBGC's Web site (www.pbgc.gov). If your plan is covered by a PBGC disaster relief notice for this premium filing, follow the instructions in the notice and check this box.
The "Item" numbers below refer to the item or line numbers on the Form 1.
Item 1 Name of Plan SponsorReturn to Top
For a single-employer plan with one contributing sponsor, enter the name and address of the contributing sponsor.
For a single-employer plan with two or more contributing sponsors that are all in a single controlled group, enter the name and address of the parent of the controlled group or, if there is no parent, of the largest member of the controlled group (whether or not the parent or largest member is a contributing sponsor).
For a single-employer plan with two or more contributing sponsors that are not all in a single controlled group, first identify the controlled group, or contributing sponsor that is not in a controlled group, that has the most participants in the plan. If you identify a contributing sponsor that is not in a controlled group, enter the name and address of that contributing sponsor. But if you identify a controlled group, then enter the name and address of the parent of that controlled group or, if there is no parent, of the largest member of that controlled group (whether or not the parent or largest member is a contributing sponsor).
For a multiemployer plan, enter the name and address of the association, committee, joint board of trustees, or other entity that establishes or maintains the plan.
Make sure you report the plan sponsor's name and address correctly, especially if there has been a change in the last year. If the plan sponsor's address or name has changed since your last filing, check the first box in the upper right hand corner of item 1.
It is very important that the address shown in item 1 be correct.
If your plan's premium filings are prepared by a consultant, you may not need to receive your own copy of PBGC paper premium instructions. If you do not want to receive paper premium instructions next year, check the second box in the upper right hand corner of item 1. An election not to receive the paper instructions does not relieve the plan administrator of the obligation to file.
Item 2 Name of Plan AdministratorReturn to Top
If the name and address of the plan administrator is the same as that of the plan sponsor, check the second box in the upper right hand corner of item 2 and skip to item 3. Otherwise, enter the name and address of the plan administrator.
If the plan administrator's address or name has changed since your last filing, check the first box in the upper right hand corner of item 2.
It is very important that the plan administrator's name and address be correct, especially if there has been a change in the last year. This is the address we will use to mail your 2007 premium filing instructions.
Item 3 Plan Sponsor's EIN/PN, Electronic filingReturn to Top
Item 3(a) EIN For The Plan Sponsor
Enter the EIN for the plan sponsor identified in item 1.
Item 3(b) Plan Number
Enter the Plan Number (PN) for the plan.
Item 3(c) Does EIN/PN Match Form 5500?
In general, the EIN and PN entered in item 3(a) and (b) should be the same as the EIN and PN reported on the Form 5500 series for the plan year preceding the premium payment year.
If the EIN and PN entered in item 3(a) and (b) both match exactly the EIN/PN entered on the Form 5500 series for the plan year preceding the premium payment year, check the "Yes" box.
If either the EIN or PN is not exactly the same, check the "No" box, enter the EIN/PN used for the Form 5500 filing, attach an explanation, and check the box in item 18.
If your plan is a new plan that is not required to file the Form 5500 series for the plan year preceding the premium payment year because the plan did not exist, check the box labeled "2005 Form 5500 not required."
Item 3(d) Exemption from electronic filing
This item is only for plans that are subject to mandatory electronic premium filing. The PBGC expects to publish in early 2006 a final rule making electronic filing mandatory for 2006 premium filings made on or after July 1, 2006, for large plans (plans that were required to pay premiums for 500 or more participants for the plan year preceding the premium payment year). If you are not subject to mandatory e-filing, you should leave this item blank.
If you are subject to mandatory e-filing, you are required to make your 2006 premium filing electronically unless the PBGC has granted the plan an exemption from electronic filing for good cause in appropriate circumstances.
If the PBGC has granted you an exemption from electronic filing for the 2006 final premium declaration, check the box to indicate that you have an exemption.
If you do not have an exemption but you choose to make a paper filing in anticipation of an exemption, check the box to indicate that you do not have an exemption, and provide an explanation. Either indicate when you submitted the exemption request to which the PBGC has not yet responded, or attach your exemption request.
If you do not receive the anticipated exemption, your paper filing will not satisfy the electronic filing requirement. Failure to comply with the electronic filing requirement without an exemption is subject to penalty under section 4071 of ERISA.
Item 4 Change In EIN/PNReturn to Top
This item should be completed to report a change in EIN or PN since your last premium filing. The EIN of the plan sponsor or the plan's PN may change for a number of reasons.
Item 4(a) Change In EIN
Enter the previous EIN in the space provided.
Item 4(b) Change In PN
Enter the previous PN in the space provided.
Item 4(c) Effective Date
Enter the effective date of the change in EIN/PN.
Item 5 Plan Coverage StatusReturn to Top
If the plan is covered under section 4021 of ERISA, check 5(a) "Covered."
If you are not certain if the plan is covered, check 5(b) "Uncertain." See B.1.a., p. 7.
If you check "Uncertain," you should complete Form 1 and pay the applicable premium as if the plan were covered. Attach a separate sheet to explain why you checked "Uncertain," and check the box in item 18.
Item 6 Is This The First Year's Premium Filing For This Plan?Return to Top
Check the "No" box if you are filing for the second or subsequent plan year of coverage, and go to item 7. Check the "Yes" box if you are filing for the first plan year of coverage, and complete items 6(a), 6(b), and 6(c).
Item 6(a) Plan Effective Date
Enter the date on which the plan became effective with respect to benefit accruals for future service. This date is considered to be the first day of a new plan's short first year for purposes of prorating the premium (see B.5., p. 13). If the adoption date of a newly created plan covered under section 4021 of ERISA is after its effective date (i.e., the plan is adopted retroactively), you may either the adoption date or the effective date as the first day of the plan year in item 12(a), but the date that you enter in 12(a) must also be used as the premium snapshot date.
Item 6(b) Plan Adoption Date
Enter the date on which the plan was formally adopted.
Item 6(c) Plan Coverage Date
Enter the date on which the plan became covered under section 4021 of ERISA. If you are unsure whether your plan is covered, check the "Uncertain" box in item 5 and leave this date field blank.
Item 7 Transfers From Disappearing PlansReturn to Top
If a plan other than yours ceased to exist in connection with any transfer of assets or liabilities from that plan to your plan since the last premium filing, check the "Yes" box in item 7. In the case of a plan that is filing for the first time, this includes a transfer of assets or liabilities that was made to the plan when it was established, if the transferor plan ceased to exist in connection with the transfer. If you check "Yes," enter in the spaces provided the EIN/PN of each plan that ceased to exist in connection with the transfer of any assets or liabilities to your plan. Also enter the type and effective date of each transfer.
The types of transfers are explained in A.9., p.6. For purposes of this item, "M" designates a merger, "C" designates a consolidation, and "S" designates a spinoff. Check the box under the appropriate letter for the type of each transfer.
The effective date of a transfer is determined based on the facts and circumstances of the particular situation. (For transfers subject to section 414(l) of the Code, report the date determined under 26 CFR 1.414(l)-1(b)(11).)
Example: The merger agreement between Plans A and B provides that participants of Plan A will cease accruing benefits under Plan A and begin coverage and benefit accruals under Plan B as of January 1, 2005, and that the obligation to pay benefits to Plan A participants will pass from Plan A to Plan B as of that date. The agreement also provides that Plan A's assets will be transferred to Plan B's account as soon as practicable. The transfer actually occurs on February 17, 2006. The effective date of the transfer is January 1, 2006.
If you need to report transfers from more than 2 plans, attach a separate sheet listing the EIN/PN of each additional plan and the effective date and type of each transfer. If you attach a separate sheet, check the box in item 18.
You do not need to report any transfer in this item unless the transferor plan ceased to exist in connection with the transfer -- i.e., transferred all of its assets and liabilities to your plan or to two or more plans including your plan. You also do not need to report a transfer in this item if you have no reasonable way of determining whether or not the transferor plan ceased to exist in connection with the transfer.
Note that premium proration is not available for "overlapping" premium payments resulting from a plan merger, consolidation, or spinoff.
Item 8 Business Code and CUSIP NumberReturn to Top
Item 8(a)
Enter the 6-digit code that best describes the nature of the employer's business. If more than one employer is involved, enter the business code for the predominant business activity of all employers. Choose one code from the list in Appendix B at the back of this package.
Item 8(b)
If a CUSIP number has been assigned to publicly traded securities of the plan sponsor identified in item 1 or any member of the plan sponsor's controlled group, enter the first 6 digits of the CUSIP number. If the plan sponsor has no CUSIP number, enter N/A.
Item 9 Name of PlanReturn to Top
Enter the complete name of the plan as stated in the plan document. For example, "The ABC Company Pension Plan for Salaried Personnel."
Item 10 Name and Phone Number of Plan ContactReturn to Top
Item 10(a) Name of Plan Contact
Enter the name of the person we may contact if we have any questions concerning this filing. If Form 1 is completed by a plan consultant, you may enter the consultant's name.
Item 10(b) Phone Number of Plan Contact
Enter the phone number of the plan contact named in item 10(a).
Item 11 Plan TypeReturn to Top
Check the applicable box to show plan type. See A.8., p. 6, for an explanation of the distinction between multiemployer and single-employer plans.
Item 11(a) Multiemployer Plans
Check item 11(a), "Multiemployer Plan," if the plan is a multiemployer plan.
Item 11(b) Single-Employer Plans
Check item 11(b), "Single-Employer Plan," if the plan is not a multiemployer plan.
Item 12 Plan YearReturn to Top
Item 12(a)
Enter the beginning date of the plan year for which you are making the premium payment. If you are filing for the first year of a new plan, this should generally be the effective date of the plan. However, if a newly created plan was adopted with a retroactive effective date, you may use the adoption date as the first day of the plan year for purposes of determining the premium snapshot date, the filing due date, and premium proration (if any); in that case, enter the adoption date here.
Item 12(b)
Enter the ending date of the plan year for which you are making the premium payment. If this filing is for the plan's last year because the plan has merged or consolidated into another plan or has spun off all its participants, liabilities, and assets to other plans, enter the effective date of the merger, consolidation, or spinoff. Note that a plan that has a short plan year because it disappears by merger, consolidation, or spinoff does not qualify for premium proration.
Item 12(c)
Check the box if the month and day on which the plan year begins is not the same as that shown on the last Form 1 or Form 1-EZ you filed with us. Attach a separate sheet with a brief explanation for the change, and check the box in item 18.
. Item 12(d)
If you checked the box in item 12(c), enter the adoption date of the plan year change. If the plan year beginning date has changed for a reason other than a change in the plan year -- i.e., because the plan uses a 52/53-week plan year, or because this is the second year of a plan whose first plan year was a short year -- enter all zeroes in item 12(d).
Item 13 Participant CountReturn to Top
Enter the total number of participants covered by the plan. This is the number on which the plan's premium is based. Count the number of plan participants as of the premium snapshot date
For post-2000 plan years, newly created plans that do not grant past service credits typically have a participant count of zero for premium purposes. See the definition of "participant" in A.7., p. 4.
The participant count for premium computation purposes for the PBGC Form 1 and the participant count for item 7 of the Form 5500 filed in the same year (e.g., the 2006 Form 1 and 2005 Form 5500) are generally determined as of the same date, i.e., the last day of the plan year preceding the year of the filing. However, the two participant counts may differ. For example --
Item 14 Premium (See Note Below)Return to Top
Item 14(a) MULTIEMPLOYER Premium
For a multiemployer plan, multiply the participant count in item 13 by $8 and enter the result in item 14(a). This is the total multiemployer plan premium.
Item 14(b) SINGLE-EMPLOYER Flat-rate Premium
For a single-employer plan, multiply the participant count in item 13 by $30 and enter the result in item 14(b). This is the single-employer plan flat-rate premium.
Note: The 2006 per-participant flat premium rate of $30 for single-employer plans and $8 for multiemployer plans was established under recently enacted legislation. Congress is also considering other legislation that might further change flat-rate premiums. We will make updated information about the flat premium rate available as we get it: check our web site (www.pbgc.gov) or call or write us (at the address and phone numbers in item 4. under "CONTACTS" on p. ii) for more information.
Item 14(c) SINGLE-EMPLOYER Variable-rate Premium
For a single-employer plan, enter in item 14(c) the amount in item 6 of Schedule A. This is the single-employer plan variable-rate premium.
Item 14(d) SINGLE-EMPLOYER Total Premium
For a single-employer plan, add items 14(b) and 14(c) and enter the result in item 14(d). This is the total single-employer plan premium.
Item 15 Premium CreditsReturn to Top
Item 15(a) Amount Paid With 2006 Estimated Filing
Enter any amounts you previously paid for the 2006 plan year with an estimated filing. Do not include any credits claimed in your estimated filing.
Item 15(b) Other credit
Enter the amount of any credit you are entitled to: (1) any available credit claimed in your 2006 estimated filing, (2) any available credit from item 17 of your 2005 Form 1 or Form 1-EZ (or from an equivalent electronic filing), (3) any short-year credit (as explained in B.5. (Prorating Your Premium), p. 13), and (4) any other available credit. Attach an explanation of any credit claimed in item 15(b) (other than an amount entered in item 17 of your 2005 Form 1 or Form 1-EZ or in an equivalent electronic filing) and check the box in item 18.
Item 15(c) Total Credit
Add items 15(a) and 15(b) and enter the result in item 15(c) of the Form 1. This is the total credit.
Item 16 Premium Due The PBGCReturn to Top
If this is a multiemployer plan and the amount you entered in item 14(a) exceeds the amount entered in item 15(c), subtract the amount entered in item 15(c) from the amount entered in item 14(a) and enter the result in item 16 of Form 1. This is the amount you owe the PBGC.
If this is a single-employer plan and the amount you entered in item 14(d) exceeds the amount entered in item 15(c), subtract the amount entered in item 15(c) from the amount entered in item 14(d) and enter the result in item 16 of the Form 1. This is the amount you owe the PBGC.
You must pay the premium due by paper check or electronically. Indicate by checking one of the boxes in item 16 which method you are using.
If you pay by paper check, write the EIN/PN (from item 3(a) and (b) of Form 1) and the date the premium payment year commenced (PYC) on the check and file the check with Form 1.
If you pay by electronic funds transfer, make the transfer as described in item 3.d. under "CONTACTS" on p. ii. Report the EIN/PN from item 3(a) and (b) of Form 1, and the date the premium payment year commenced (PYC), in the payment ID line of the electronic funds transfer in the format "EIN/PN: XX-XXXXXXX/XXX PYC: MM/DD/YY."
To ensure proper credit for your premium payment, the payment must be for the exact amount due for the plan. Do not combine payments for different plans in a single check or electronic funds transfer.
Item 17 Amount Of OverpaymentReturn to Top
If this is a multiemployer plan and the amount you entered in item 14(a) is less than the amount entered in item 15(c), subtract the amount entered in item 14(a) from the amount entered in item 15(c) and enter the result in item 17. This is the amount of your overpayment.
If this is a single-employer plan and the amount you entered in item 14(d) is less than the amount entered in item 15(c), subtract the amount entered in item 14(d) from the amount entered in item 15(c) and enter the result in item 17. This is the amount of your overpayment.
If item 17 shows an overpayment, you may request that the amount of the overpayment either be refunded or be applied against the next year's premium for the plan.
To request that the amount of the overpayment be applied against the next year's premium for the plan, check the first box in item 17. If you request application of the overpayment against the next year's premium for the plan, you should claim the overpayment amount as a credit on the next year's premium filing for the plan.
To request a refund, check the second box in item 17. If you want your refund paid by electronic funds transfer, check either the third or the fourth box in item 17 to indicate whether the account to which the refund is to be credited is a checking account or savings account, and enter in the fifth and sixth boxes of item 17 the bank routing number and account number to which the refund is to be credited. If you want the refund credited to a sub-account within the main account, enter the sub-account number in the seventh box of item 17.
See B.7.b., p. 18, for more information on overpayments.
Item 18 Additional InformationReturn to Top
If you have used attachments other than the Schedule A to explain any of your answers, check the box in item 18. Be sure to show your plan's EIN/PN and the date on which the premium payment year commenced (PYC) at the top of each sheet.
Item 19 Certification of Multiemployer Plan AdministratorReturn to Top
If your plan is a multiemployer plan, then you, as plan administrator, must sign the Form 1 in this space. Your signature must be filed in original form. We may return your filing if it does not have your signature. Single-employer plans -- see items 8 and 9 of Schedule A to Form 1.