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Federal Register / Vol. 86, No. 130 / Monday, July 12, 2021 / Rules and Regulations
an application for special financial assistance under this part may be made publicly available, at PBGCs sole discretion, on PBGCs 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.

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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 threedigit 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 sponsors authorized representatives, if any.
4 The total amount of special financial assistance requested.
b Eligibility. An application must identify the eligibility requirements in 4262.3 that the plan satisfies to be eligible for special financial assistance.
An application for a plan that is eligible under section 4262b1C 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 4262.10d2 that the plan is in. An application must include a demonstration to support the plans inclusion in a priority group, unless the plan is insolvent under section 4245a of ERISA, has implemented a suspension of benefits under section 305e9 of ERISA as of March 11, 2021, is in critical and declining status as defined in section 305b6 of ERISA
and had 350,000 or more participants, or is listed on PBGCs website at www.pbgc.gov as a plan in priority group 6, as defined under 4262.10d2vi.
d Plans with a suspension of benefits. If a plan previously suspended benefits under sections 305e9 or 4245a 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 to participants and beneficiaries under the plan. The proposed schedule should be prepared assuming the effective date for
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reinstatement is the SFA measurement date and that payments for previously suspended benefits described in 4262.15a2 are paid or commence on the SFA measurement date. If the plan restored benefits under 26 CFR
1.432e91e3 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 4262.6e1.
2 A copy of the proposed plan amendment required under 4262.6e2 and certification by the plan sponsor that the plan amendment will be timely adopted.
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 report completed for the 2018 plan year and each subsequent actuarial valuation report completed before the date the plans application was 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 supplemental document.
7 Most recent Form 5500 and all schedules and attachments including the audited financial statement.
8 Plan actuarys certification of plan status required under section 305b3
of ERISA completed for the 2018 plan year and each subsequent annual certification completed before the date the plans application was filed, with documentation supporting each certification, which must include the projections and information required in the special financial assistance instructions on PBGCs website at www.pbgc.gov.
9 Most recent statement for each of the plans cash and investment accounts.

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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, 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 8b1 of the Form 5500 Schedule MB is Yes.
2 For a plan that has 10,000 or more participants as required to be entered on line 6f of the plans most recently filed Form 5500, a listing of the 15 largest contributing employers and the contribution amounts for each for the most recently completed plan year.
3 Historical plan financial information for each of the most recent 10 plan years immediately preceding the date the plans 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, based on a deterministic projection, including all of the following information i Interest rate required under 4262.4e1, 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 plan financial
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