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Code of Federal Regulations (Last Updated: July 5, 2024) |
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Title 29 - Labor |
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Subtitle B - Regulations Relating to Labor |
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Chapter XL - Pension Benefit Guaranty Corporation |
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SubChapter E - Plan Terminations |
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Part 4041a - Termination of Multiemployer Plans |
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Subpart C - Plan Sponsor Duties |
§ 4041A.23 - Withdrawal liability.
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§ 4041A.23 Imposition and collection Withdrawal liability.
(a) Collection of withdrawal liability.
theUntil plan assets are distributed in accordance with subpart D of this part, or until the end of the plan year as of which
shall be responsible for determining, imposing and collectingPBGC determines that plan assets (exclusive of claims for withdrawal liability) are sufficient to satisfy all nonforfeitable benefits under the plan, the plan sponsor
part 4219, ,must determine, give notice of, and collect withdrawal liability (including the liability arising as a result of the mass withdrawal), in accordance with
of part 4219 of this chapter and sections 4201 through 4225 of ERISA.
(b) Filing of withdrawal liability information. For each employer that has withdrawn from the plan, the plan sponsor must file with PBGC, not later than 180 days after the end of the plan year in which the plan terminates and each plan year thereafter, the information specified in the withdrawal liability instructions on PBGC's website (www.pbgc.gov).
[61 FR 34052, July 1, 1996, as amended at 84 FR 18722, May 2, 2019]