83_FR_31118 83 FR 30991 - Pension Benefit Guaranty Corporation Disaster Relief

83 FR 30991 - Pension Benefit Guaranty Corporation Disaster Relief

PENSION BENEFIT GUARANTY CORPORATION

Federal Register Volume 83, Issue 127 (July 2, 2018)

Page Range30991-30993
FR Document2018-14125

The Pension Benefit Guaranty Corporation (PBGC) is changing how it announces relief from filing deadlines and penalties when a disaster occurs. Under an Announcement made today, PBGC's disaster relief will be available at the same time the Internal Revenue Service issues disaster relief for taxpayers that includes filing extensions for the Form 5500 series. Filers will not have to wait for PBGC to issue a separate announcement. For premium filings, PBGC is changing its practice so that in addition to no late payment penalty charges, no late payment interest charges will be assessed for the disaster relief period.

Federal Register, Volume 83 Issue 127 (Monday, July 2, 2018)
[Federal Register Volume 83, Number 127 (Monday, July 2, 2018)]
[Notices]
[Pages 30991-30993]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-14125]


=======================================================================
-----------------------------------------------------------------------

PENSION BENEFIT GUARANTY CORPORATION


Pension Benefit Guaranty Corporation Disaster Relief

AGENCY: Pension Benefit Guaranty Corporation.

ACTION: Notice.

-----------------------------------------------------------------------

SUMMARY: The Pension Benefit Guaranty Corporation (PBGC) is changing 
how it announces relief from filing deadlines and penalties when a 
disaster occurs. Under an Announcement made today, PBGC's disaster 
relief will be available at the same time the Internal Revenue Service 
issues disaster relief for taxpayers that includes filing extensions 
for the Form 5500 series. Filers will not have to wait for PBGC to 
issue a separate announcement. For premium filings, PBGC is changing 
its practice so that in addition to no late payment penalty charges, no 
late payment interest charges will be assessed for the disaster relief 
period.

DATES: The Disaster Relief Announcement in this notice is effective for 
disasters for which the Internal Revenue Service has issued a disaster 
relief news release on or after July 2, 2018.

FOR FURTHER INFORMATION CONTACT: Stephanie Cibinic, Deputy Assistant 
General Counsel for Regulatory Affairs, Office of the General Counsel, 
Pension Benefit Guaranty Corporation, 1200 K Street NW, Washington, DC 
20005-4026; pbgc.gov">cibinic.stephanie@pbgc.gov; 202-326-4400 extension 6352. 
TTY users may call the Federal relay service toll-free at 800-877-8339 
and ask to be connected to 202-326-4400 extension 6352.

SUPPLEMENTARY INFORMATION:

Background

    When there is a disaster covered by Internal Revenue Code section 
1033(h)(3), Employee Retirement Income Security Act (ERISA) section 
4002(i) gives the Pension Benefit Guaranty Corporation (PBGC) authority 
to extend deadlines by notice or otherwise. PBGC has followed a 
practice of posting a disaster relief announcement on its website each 
time the Internal Revenue Service (IRS) posts a disaster relief news 
release that includes filing extensions for the Annual Return/Report of 
Employee Benefit Plan Form 5500 Series. Each PBGC disaster relief 
announcement copies the disaster, disaster area, and relief period from 
the IRS news release on which it is based. Except for these types of 
fields, the text in PBGC disaster relief announcements is boilerplate 
that is repeated in every announcement.
    IRS issues a separate disaster relief news release for each state 
affected by a disaster. Each news release lists the names of counties 
in the state that are covered by the relief. IRS may add newly affected 
counties to an existing news release. PBGC filers have to rely on a 
statement in each PBGC announcement that the corresponding IRS news 
release should be checked for other counties that IRS might have added. 
Because PBGC's announcements rely on data from IRS news releases, 
PBGC's announcements are always issued later than IRS' news releases. 
PBGC filers have to wait for PBGC to respond to each IRS disaster 
relief news release before they can be certain that PBGC is providing 
disaster relief.
    PBGC is changing its practice to simplify how it announces disaster 
relief by referring PBGC filers directly to IRS' disaster relief news 
releases. Filers will no longer have to wait for PBGC to act, because 
PBGC's disaster relief will be keyed to IRS' news releases. Instead of 
multiple disaster relief announcements, all explaining disaster relief 
in the same repetitive language, PBGC will have one simple announcement 
that clearly explains how PBGC disaster relief is keyed to IRS relief, 
what circumstances generally lead to relief, and the nature of relief 
generally granted.
    The qualifications for disaster relief and relief granted will be 
simpler and easier to apply. Formerly, relief was described separately 
for premiums, single-employer plan terminations, reportable events 
notices, annual employer reporting, administrative review, and 
multiemployer plan filings. This detail is unnecessary because, no 
matter the type of PBGC filing or whether the plan is a multiemployer 
or single-employer plan, the deadline extension is simply the end of 
the IRS relief period for due dates that fall within that period.
    As with the current practice, there are exceptions to this general 
``IRS-based'' relief, which are listed in the Announcement. Filers 
would still be able to request relief on a case-by-case basis for the 
excepted filings or other actions not covered by the general relief.
    PBGC also makes the following changes and clarifications in the 
Announcement, which are designed to be helpful to plan sponsors:
     Formerly, a late premium payment eligible for disaster 
relief and paid by the end of the relief period was treated as timely 
for purposes of assessing the late payment penalty, but not the 
applicable interest charge. Under PBGC's new practice, the premium 
payment due date is extended so that no late payment penalty or 
interest charges will be assessed for the disaster relief period.
     Formerly, premium filers had to submit the premium form 
and payment owed (``the premium filing'') by the end of the relief 
period for disaster relief to apply. Under PBGC's new practice,

[[Page 30992]]

where a filer is unable to submit, or anticipates difficulty in 
submitting, a premium filing by the end of the relief period, the filer 
would simply notify PBGC by the end of the period of the filer's 
eligibility for disaster relief to apply. For example, if a premium 
filer notifies PBGC by the end of the relief period that the filer is 
eligible for disaster relief but is unable to submit the premium filing 
by that time, late payment penalty and interest charges would not begin 
to accrue until after the end of the relief period, i.e., the extended 
due date for the payment. This same method of notification is available 
for filings other than premium filings covered by the general disaster 
relief.
     Formerly, filers would need to apply for case-by-case 
disaster relief for late annual financial and actuarial information 
reporting under ERISA section 4010. PBGC believes these filings more 
appropriately fall under general relief.
     Formerly, post-event notices of reportable events under 
ERISA section 4043 fell under general relief. Because certain of these 
filings involve time-sensitive information where there may be a high 
risk of substantial harm to participants or PBGC's insurance program, 
PBGC believes five post-event filings are more appropriate for case-by-
case relief. Those five events are identified in the exceptions list in 
the Announcement.
     Formerly, where disaster relief is founded on problems 
getting information or assistance from a service provider, the 
provider's operations must be ``directly affected'' by the disaster. 
This vague standard is replaced with a clear standard that the service 
provider be located in the disaster area. This is the same objective 
condition as for the person required to file.
    PBGC's Announcement of disaster relief is set forth below and 
posted on the ``Disaster Relief'' web page of pbgc.gov.

Announcement of Pension Benefit Guaranty Corporation Disaster Relief

    When a disaster causes a delay in making a required filing or in 
taking some other required action, the Pension Benefit Guaranty 
Corporation (PBGC) generally grants relief by extending the time to 
act. PBGC's relief relies on data from Internal Revenue Service (IRS) 
announcements, so historically PBGC has followed IRS' lead when 
announcing relief. With this Announcement, unless a filing is on the 
``Exceptions List'' below, filers can be assured that PBGC grants 
disaster relief when, where, and for the same relief period that IRS 
grants relief for taxpayers affected by a disaster. Filers will not 
have to wait for PBGC to issue a separate announcement.
    PBGC also may grant case-by-case relief for filings and actions on 
the Exceptions List. See ``Requesting Case-by-Case Relief'' below for 
how to request such relief.

Disasters Covered

    Except for filings and actions on the Exceptions List, PBGC 
provides relief where there is a disaster for which the IRS announces 
that tax relief is being granted for affected taxpayers that includes 
filing extensions for the Form 5500 series returns. The IRS announces 
tax relief for a disaster in a news release that states:
     The identifying number of the announcement.
     The disaster for which relief is granted.
     The disaster area covered by the announcement (typically 
counties within a state).
     The starting and ending dates of the relief period covered 
by the announcement.
    Each news release may be updated periodically by the IRS to broaden 
the disaster area to include places subsequently affected by the same 
disaster and covered by the relief.
    IRS news releases announcing tax relief for disasters are listed on 
IRS' website. Select the applicable news release on the list to see the 
text of the announcement.

Requirements for Disaster Relief

    The disaster relief in this Announcement applies only if all of the 
following requirements are met:
     The person responsible for a filing, payment, or other 
action under PBGC regulations, e.g., a plan administrator or 
contributing sponsor, is located in the disaster area. Or, a person 
responsible for providing information or other assistance needed for 
the filing, payment, or other action, e.g., a service provider (such as 
the plan's enrolled actuary) or bank, is located in the disaster area.
     The due date of the filing, payment, or other action falls 
within the relief period.
     The filer notifies PBGC of the filer's eligibility for 
disaster relief on or before the last day of the relief period. See 
``Notifying PBGC of Your Eligibility for Disaster Relief'' below.
     The filing or action is not described in the Exceptions 
List below.

Relief Granted

    If the requirements for relief listed above are met, the due date 
for the filing, payment, or other action is extended to the last day of 
the relief period. Accordingly--
     A filing will not be subject to a late filing penalty 
under section 4071 or 4302 of the Employee Retirement Income Security 
Act of 1974 (ERISA) for the relief period.
     A premium payment will not be subject to late payment 
penalty or interest charges under section 4007 of ERISA for the relief 
period.
     The extended due date for a filing or other action will 
apply for purposes of calculating any other due date that is based on 
the due date of the filing or other action. For instance, if a plan is 
filing certain actuarial information by an alternative due date that is 
15 days after a plan's Form 5500 due date (29 CFR 4010.10(b)), and the 
deadline to file a Form 5500 is extended because of a disaster, then 
the 15-day period in PBGC's regulation is automatically measured from 
the last day of the Form 5500 disaster relief period.

Example of How Disaster Relief Works

    Plan A is a calendar year plan. Absent disaster relief, Plan A 
would be required to submit the 2018 Comprehensive Premium Filing (CPF) 
and pay its 2018 premium by October 15, 2018. IRS issues a news release 
providing disaster relief for tax payers in a specified disaster area 
for the period September 4, 2018 through January 31, 2019. Plan A's 
plan administrator is located in the disaster area covered by the IRS 
disaster relief news release. Plan A notifies PBGC that it is eligible 
for disaster relief on or before January 31, 2019 (either by submitting 
a CPF in which such eligibility is reported or by sending an email to 
PBGC). If Plan A pays its 2018 premium:
     On or before January 31, 2019, no late payment charges 
(interest or penalties) will be assessed.
     After January 31, 2019, late payment charges will begin 
accruing on February 1, 2019.

Exceptions List

    The following filings and actions are not covered by the disaster 
relief described above. These are filings that involve particularly 
important or time-sensitive information where there may be a high risk 
of substantial harm to participants or PBGC's insurance program. To 
request case-by-case relief for these filings see ``Requesting Case-by-
Case Relief'' below.
     Advance notices of reportable events under ERISA section 
4043 (Form 10-Advance).

[[Page 30993]]

     Notices of large missed contributions under ERISA section 
303(k) (Form 200).
     Post-event notices for the following five reportable 
events under ERISA section 4043:

--Failure to make required contributions under $1 million.
--Inability to pay benefits when due.
--Liquidation.
--Loan default.
--Insolvency or similar settlement.
     Actions related to distress terminations for which PBGC 
has issued a distribution notice.

Notifying PBGC of Your Eligibility for Disaster Relief

    Premium filings: Notify us by providing certain information as part 
of the Comprehensive Premium Filing. See the Filing Instructions for 
the applicable plan year for details. We also encourage filers to 
notify us by email to pbgc.gov">premiums@pbgc.gov as soon as reasonably possible 
that you are eligible for disaster relief. The email should contain the 
following identifying information: (1) The number of the applicable IRS 
News Release, (2) plan information, i.e., plan name, EIN, plan number, 
and, (3) the name and address of the person affected by the disaster. 
Item (3) may be omitted if the plan administrator's address reported in 
the most recently submitted premium filing is in the applicable 
disaster area.
    In situations where a filer is unable to submit, or anticipates 
difficulty in submitting, the Comprehensive Premium Filing by the end 
of the relief period, the filer should notify us by sending an email 
with the same information and to the same address noted above.
    All other filings or actions: Notify us by following the disaster 
relief instructions (if any) for the particular filing. If there are no 
such instructions, filers should notify us of their eligibility for 
relief by sending an email by the end of the relief period to the email 
address included in the instructions for the particular filing, or on a 
PBGC web page listing applicable contact information, such as PBGC's 
Contact Information for Practitioners page. The email should contain 
relevant identifying information, such as: (1) The number of the 
applicable IRS News Release, (2) plan information, i.e., plan name, 
EIN, plan number, and, (3) the name and address of the person affected 
by the disaster. We encourage filers to notify us as soon as reasonably 
possible.

Requesting Case-by-Case Relief

    Follow the instructions for requesting a waiver or extension in the 
regulations or instructions for completing the particular filing. For 
example, for a reportable events filing on the Exceptions List, follow 
the provision for waivers and extensions in PBGC's reportable events 
regulation at 29 CFR 4043.4. That provision explains that a request for 
a waiver or extension must be filed with PBGC in writing (which may be 
in electronic form) and must state the facts and circumstances on which 
the request is based.
    If there is no such guidance, contact PBGC as soon as reasonably 
possible using the phone number or email address in the instructions 
for the particular filing, or on a PBGC web page listing applicable 
contact information, such as PBGC's Contact Information for 
Practitioners page.
    Otherwise, contact PBGC's Practitioner Problem Resolution Officer 
by--
     Email at pbgc.gov">practitioner.pro@pbgc.gov.
     Telephone at 800-736-2444 extension 4136 or 202-326-4136. 
(For TTY users, call 800-877-8339 and request connection to 202-326-
4136.)
     U.S. mail at Practitioner Problem Resolution Officer, 
Pension Benefit Guaranty Corporation, 1200 K Street NW, Suite 610, 
Washington, DC 20005-4026.
    For general information on PBGC disaster relief, please call our 
toll-free practitioner number, 800-736-2444.

    Issued in Washington, DC.
William Reeder,
Director, Pension Benefit Guaranty Corporation.
[FR Doc. 2018-14125 Filed 6-29-18; 8:45 am]
BILLING CODE 7709-02-P



                                                                               Federal Register / Vol. 83, No. 127 / Monday, July 2, 2018 / Notices                                              30991

                                               presentation at least 30 minutes before                 SUMMARY:   The Pension Benefit Guaranty                announcement that the corresponding
                                               the meeting.                                            Corporation (PBGC) is changing how it                  IRS news release should be checked for
                                                  In accordance with Subsection 10(d)                  announces relief from filing deadlines                 other counties that IRS might have
                                               of Public Law 92–463 and 5 U.S.C.                       and penalties when a disaster occurs.                  added. Because PBGC’s announcements
                                               552b(c), certain portions of this meeting               Under an Announcement made today,                      rely on data from IRS news releases,
                                               may be closed, as specifically noted                    PBGC’s disaster relief will be available               PBGC’s announcements are always
                                               above. Use of still, motion picture, and                at the same time the Internal Revenue                  issued later than IRS’ news releases.
                                               television cameras during the meeting                   Service issues disaster relief for                     PBGC filers have to wait for PBGC to
                                               may be limited to selected portions of                  taxpayers that includes filing extensions              respond to each IRS disaster relief news
                                               the meeting as determined by the                        for the Form 5500 series. Filers will not              release before they can be certain that
                                               Chairman. Electronic recordings will be                 have to wait for PBGC to issue a                       PBGC is providing disaster relief.
                                               permitted only during the open portions                 separate announcement. For premium                        PBGC is changing its practice to
                                               of the meeting.                                         filings, PBGC is changing its practice so              simplify how it announces disaster
                                                  ACRS meeting agendas, meeting                        that in addition to no late payment                    relief by referring PBGC filers directly to
                                               transcripts, and letter reports are                     penalty charges, no late payment                       IRS’ disaster relief news releases. Filers
                                               available through the NRC Public                        interest charges will be assessed for the              will no longer have to wait for PBGC to
                                               Document Room at pdr.resource@                          disaster relief period.                                act, because PBGC’s disaster relief will
                                               nrc.gov, or by calling the PDR at 1–800–                DATES: The Disaster Relief                             be keyed to IRS’ news releases. Instead
                                               397–4209, or from the Publicly                          Announcement in this notice is effective               of multiple disaster relief
                                               Available Records System (PARS)                         for disasters for which the Internal                   announcements, all explaining disaster
                                               component of NRC’s document system                      Revenue Service has issued a disaster                  relief in the same repetitive language,
                                               (ADAMS) which is accessible from the                    relief news release on or after July 2,                PBGC will have one simple
                                               NRC website at http://www.nrc.gov/                      2018.                                                  announcement that clearly explains
                                               reading-rm/adams.html or http://                                                                               how PBGC disaster relief is keyed to IRS
                                                                                                       FOR FURTHER INFORMATION CONTACT:
                                               www.nrc.gov/reading-rm/doc-                                                                                    relief, what circumstances generally
                                                                                                       Stephanie Cibinic, Deputy Assistant
                                               collections/ACRS/.                                                                                             lead to relief, and the nature of relief
                                                                                                       General Counsel for Regulatory Affairs,
                                                  Video teleconferencing service is                                                                           generally granted.
                                                                                                       Office of the General Counsel, Pension                    The qualifications for disaster relief
                                               available for observing open sessions of                Benefit Guaranty Corporation, 1200 K
                                               ACRS meetings. Those wishing to use                                                                            and relief granted will be simpler and
                                                                                                       Street NW, Washington, DC 20005–                       easier to apply. Formerly, relief was
                                               this service should contact Mr. Theron                  4026; cibinic.stephanie@pbgc.gov; 202–
                                               Brown, ACRS Audio Visual Technician                                                                            described separately for premiums,
                                                                                                       326–4400 extension 6352. TTY users                     single-employer plan terminations,
                                               (301–415–6702), between 7:30 a.m. and                   may call the Federal relay service toll-               reportable events notices, annual
                                               3:45 p.m. (ET), at least 10 days before                 free at 800–877–8339 and ask to be                     employer reporting, administrative
                                               the meeting to ensure the availability of               connected to 202–326–4400 extension                    review, and multiemployer plan filings.
                                               this service. Individuals or                            6352.                                                  This detail is unnecessary because, no
                                               organizations requesting this service
                                                                                                       SUPPLEMENTARY INFORMATION:                             matter the type of PBGC filing or
                                               will be responsible for telephone line
                                                                                                       Background                                             whether the plan is a multiemployer or
                                               charges and for providing the
                                                                                                                                                              single-employer plan, the deadline
                                               equipment and facilities that they use to                  When there is a disaster covered by                 extension is simply the end of the IRS
                                               establish the video teleconferencing                    Internal Revenue Code section                          relief period for due dates that fall
                                               link. The availability of video                         1033(h)(3), Employee Retirement                        within that period.
                                               teleconferencing services is not                        Income Security Act (ERISA) section                       As with the current practice, there are
                                               guaranteed.                                             4002(i) gives the Pension Benefit                      exceptions to this general ‘‘IRS-based’’
                                                  Note: This notice is late due to the                 Guaranty Corporation (PBGC) authority                  relief, which are listed in the
                                               adjustment of accurate meeting topics for               to extend deadlines by notice or                       Announcement. Filers would still be
                                               APR1400. Specifically, the related                      otherwise. PBGC has followed a practice                able to request relief on a case-by-case
                                               Subcommittees which occurred in late May                of posting a disaster relief                           basis for the excepted filings or other
                                               affected the schedule.                                  announcement on its website each time                  actions not covered by the general relief.
                                                 Dated at Rockville, Maryland, this 27th day           the Internal Revenue Service (IRS) posts                  PBGC also makes the following
                                               of June 2018.                                           a disaster relief news release that                    changes and clarifications in the
                                                 For the Nuclear Regulatory Commission.                includes filing extensions for the                     Announcement, which are designed to
                                               Annette L. Vietti-Cook,
                                                                                                       Annual Return/Report of Employee                       be helpful to plan sponsors:
                                                                                                       Benefit Plan Form 5500 Series. Each                       • Formerly, a late premium payment
                                               Federal Advisory Committee Management
                                               Officer.
                                                                                                       PBGC disaster relief announcement                      eligible for disaster relief and paid by
                                                                                                       copies the disaster, disaster area, and                the end of the relief period was treated
                                               [FR Doc. 2018–14202 Filed 6–29–18; 8:45 am]
                                                                                                       relief period from the IRS news release                as timely for purposes of assessing the
                                               BILLING CODE 7590–01–P
                                                                                                       on which it is based. Except for these                 late payment penalty, but not the
                                                                                                       types of fields, the text in PBGC disaster             applicable interest charge. Under
                                                                                                       relief announcements is boilerplate that               PBGC’s new practice, the premium
                                               PENSION BENEFIT GUARANTY                                is repeated in every announcement.                     payment due date is extended so that no
                                               CORPORATION                                                IRS issues a separate disaster relief               late payment penalty or interest charges
daltland on DSKBBV9HB2PROD with NOTICES




                                                                                                       news release for each state affected by                will be assessed for the disaster relief
                                               Pension Benefit Guaranty Corporation                    a disaster. Each news release lists the                period.
                                               Disaster Relief                                         names of counties in the state that are                   • Formerly, premium filers had to
                                               AGENCY: Pension Benefit Guaranty                        covered by the relief. IRS may add                     submit the premium form and payment
                                               Corporation.                                            newly affected counties to an existing                 owed (‘‘the premium filing’’) by the end
                                                                                                       news release. PBGC filers have to rely                 of the relief period for disaster relief to
                                               ACTION: Notice.
                                                                                                       on a statement in each PBGC                            apply. Under PBGC’s new practice,


                                          VerDate Sep<11>2014   17:40 Jun 29, 2018   Jkt 244001   PO 00000   Frm 00083   Fmt 4703   Sfmt 4703   E:\FR\FM\02JYN1.SGM   02JYN1


                                               30992                           Federal Register / Vol. 83, No. 127 / Monday, July 2, 2018 / Notices

                                               where a filer is unable to submit, or                   taxpayers affected by a disaster. Filers               filing, payment, or other action is
                                               anticipates difficulty in submitting, a                 will not have to wait for PBGC to issue                extended to the last day of the relief
                                               premium filing by the end of the relief                 a separate announcement.                               period. Accordingly—
                                               period, the filer would simply notify                      PBGC also may grant case-by-case                       • A filing will not be subject to a late
                                               PBGC by the end of the period of the                    relief for filings and actions on the                  filing penalty under section 4071 or
                                               filer’s eligibility for disaster relief to              Exceptions List. See ‘‘Requesting Case-                4302 of the Employee Retirement
                                               apply. For example, if a premium filer                  by-Case Relief’’ below for how to                      Income Security Act of 1974 (ERISA) for
                                               notifies PBGC by the end of the relief                  request such relief.                                   the relief period.
                                               period that the filer is eligible for                                                                             • A premium payment will not be
                                                                                                       Disasters Covered
                                               disaster relief but is unable to submit                                                                        subject to late payment penalty or
                                               the premium filing by that time, late                     Except for filings and actions on the
                                                                                                                                                              interest charges under section 4007 of
                                               payment penalty and interest charges                    Exceptions List, PBGC provides relief
                                                                                                                                                              ERISA for the relief period.
                                               would not begin to accrue until after the               where there is a disaster for which the
                                               end of the relief period, i.e., the                     IRS announces that tax relief is being                    • The extended due date for a filing
                                               extended due date for the payment. This                 granted for affected taxpayers that                    or other action will apply for purposes
                                               same method of notification is available                includes filing extensions for the Form                of calculating any other due date that is
                                               for filings other than premium filings                  5500 series returns. The IRS announces                 based on the due date of the filing or
                                               covered by the general disaster relief.                 tax relief for a disaster in a news release            other action. For instance, if a plan is
                                                  • Formerly, filers would need to                     that states:                                           filing certain actuarial information by an
                                               apply for case-by-case disaster relief for                • The identifying number of the                      alternative due date that is 15 days after
                                               late annual financial and actuarial                     announcement.                                          a plan’s Form 5500 due date (29 CFR
                                               information reporting under ERISA                         • The disaster for which relief is                   4010.10(b)), and the deadline to file a
                                               section 4010. PBGC believes these                       granted.                                               Form 5500 is extended because of a
                                               filings more appropriately fall under                     • The disaster area covered by the                   disaster, then the 15-day period in
                                               general relief.                                         announcement (typically counties                       PBGC’s regulation is automatically
                                                  • Formerly, post-event notices of                    within a state).                                       measured from the last day of the Form
                                               reportable events under ERISA section                     • The starting and ending dates of the               5500 disaster relief period.
                                               4043 fell under general relief. Because                 relief period covered by the                           Example of How Disaster Relief Works
                                               certain of these filings involve time-                  announcement.
                                               sensitive information where there may                     Each news release may be updated                        Plan A is a calendar year plan. Absent
                                               be a high risk of substantial harm to                   periodically by the IRS to broaden the                 disaster relief, Plan A would be required
                                               participants or PBGC’s insurance                        disaster area to include places                        to submit the 2018 Comprehensive
                                               program, PBGC believes five post-event                  subsequently affected by the same                      Premium Filing (CPF) and pay its 2018
                                               filings are more appropriate for case-by-               disaster and covered by the relief.                    premium by October 15, 2018. IRS
                                               case relief. Those five events are                        IRS news releases announcing tax                     issues a news release providing disaster
                                               identified in the exceptions list in the                relief for disasters are listed on IRS’                relief for tax payers in a specified
                                               Announcement.                                           website. Select the applicable news                    disaster area for the period September 4,
                                                  • Formerly, where disaster relief is                 release on the list to see the text of the             2018 through January 31, 2019. Plan A’s
                                               founded on problems getting                             announcement.                                          plan administrator is located in the
                                               information or assistance from a service                                                                       disaster area covered by the IRS disaster
                                               provider, the provider’s operations must                Requirements for Disaster Relief
                                                                                                                                                              relief news release. Plan A notifies
                                               be ‘‘directly affected’’ by the disaster.                  The disaster relief in this                         PBGC that it is eligible for disaster relief
                                               This vague standard is replaced with a                  Announcement applies only if all of the                on or before January 31, 2019 (either by
                                               clear standard that the service provider                following requirements are met:                        submitting a CPF in which such
                                               be located in the disaster area. This is                   • The person responsible for a filing,              eligibility is reported or by sending an
                                               the same objective condition as for the                 payment, or other action under PBGC                    email to PBGC). If Plan A pays its 2018
                                               person required to file.                                regulations, e.g., a plan administrator or             premium:
                                                  PBGC’s Announcement of disaster                      contributing sponsor, is located in the                   • On or before January 31, 2019, no
                                               relief is set forth below and posted on                 disaster area. Or, a person responsible                late payment charges (interest or
                                               the ‘‘Disaster Relief’’ web page of                     for providing information or other                     penalties) will be assessed.
                                               pbgc.gov.                                               assistance needed for the filing,
                                                                                                                                                                 • After January 31, 2019, late
                                                                                                       payment, or other action, e.g., a service
                                               Announcement of Pension Benefit                                                                                payment charges will begin accruing on
                                                                                                       provider (such as the plan’s enrolled
                                               Guaranty Corporation Disaster Relief                                                                           February 1, 2019.
                                                                                                       actuary) or bank, is located in the
                                                  When a disaster causes a delay in                    disaster area.                                         Exceptions List
                                               making a required filing or in taking                      • The due date of the filing, payment,
                                               some other required action, the Pension                 or other action falls within the relief                  The following filings and actions are
                                               Benefit Guaranty Corporation (PBGC)                     period.                                                not covered by the disaster relief
                                               generally grants relief by extending the                   • The filer notifies PBGC of the filer’s            described above. These are filings that
                                               time to act. PBGC’s relief relies on data               eligibility for disaster relief on or before           involve particularly important or time-
                                               from Internal Revenue Service (IRS)                     the last day of the relief period. See                 sensitive information where there may
                                               announcements, so historically PBGC                     ‘‘Notifying PBGC of Your Eligibility for               be a high risk of substantial harm to
daltland on DSKBBV9HB2PROD with NOTICES




                                               has followed IRS’ lead when                             Disaster Relief’’ below.                               participants or PBGC’s insurance
                                               announcing relief. With this                               • The filing or action is not described             program. To request case-by-case relief
                                               Announcement, unless a filing is on the                 in the Exceptions List below.                          for these filings see ‘‘Requesting Case-
                                               ‘‘Exceptions List’’ below, filers can be                                                                       by-Case Relief’’ below.
                                               assured that PBGC grants disaster relief                Relief Granted                                           • Advance notices of reportable
                                               when, where, and for the same relief                      If the requirements for relief listed                events under ERISA section 4043 (Form
                                               period that IRS grants relief for                       above are met, the due date for the                    10-Advance).


                                          VerDate Sep<11>2014   17:40 Jun 29, 2018   Jkt 244001   PO 00000   Frm 00084   Fmt 4703   Sfmt 4703   E:\FR\FM\02JYN1.SGM   02JYN1


                                                                               Federal Register / Vol. 83, No. 127 / Monday, July 2, 2018 / Notices                                                   30993

                                                  • Notices of large missed                            or instructions for completing the                     3642 and 3632(b)(3), on June 26, 2018,
                                               contributions under ERISA section                       particular filing. For example, for a                  it filed with the Postal Regulatory
                                               303(k) (Form 200).                                      reportable events filing on the                        Commission a USPS Request to Add
                                                  • Post-event notices for the following               Exceptions List, follow the provision for              Priority Mail Express, Priority Mail, &
                                               five reportable events under ERISA                      waivers and extensions in PBGC’s                       First-Class Package Service Contract 40
                                               section 4043:                                           reportable events regulation at 29 CFR                 to Competitive Product List. Documents
                                               —Failure to make required                               4043.4. That provision explains that a                 are available at www.prc.gov, Docket
                                                  contributions under $1 million.                      request for a waiver or extension must                 Nos. MC2018–187, CP2018–261.
                                               —Inability to pay benefits when due.                    be filed with PBGC in writing (which
                                               —Liquidation.                                                                                                  Elizabeth Reed,
                                                                                                       may be in electronic form) and must
                                               —Loan default.                                          state the facts and circumstances on                   Attorney, Corporate and Postal Business Law.
                                               —Insolvency or similar settlement.                      which the request is based.                            [FR Doc. 2018–14111 Filed 6–29–18; 8:45 am]
                                                  • Actions related to distress                           If there is no such guidance, contact               BILLING CODE 7710–12–P
                                               terminations for which PBGC has issued                  PBGC as soon as reasonably possible
                                               a distribution notice.                                  using the phone number or email
                                               Notifying PBGC of Your Eligibility for                  address in the instructions for the                    RAILROAD RETIREMENT BOARD
                                               Disaster Relief                                         particular filing, or on a PBGC web page
                                                                                                       listing applicable contact information,                Sunshine Act: Notice of Public Meeting
                                                  Premium filings: Notify us by                        such as PBGC’s Contact Information for
                                               providing certain information as part of                                                                         Notice is hereby given that the
                                                                                                       Practitioners page.                                    Railroad Retirement Board will hold a
                                               the Comprehensive Premium Filing. See                      Otherwise, contact PBGC’s
                                               the Filing Instructions for the applicable                                                                     meeting on July 17, 2018, 10:00 a.m. at
                                                                                                       Practitioner Problem Resolution Officer
                                               plan year for details. We also encourage                                                                       the Board’s meeting room on the 8th
                                                                                                       by—
                                               filers to notify us by email to                                                                                Floor of its headquarters building, 844
                                                                                                          • Email at practitioner.pro@pbgc.gov.
                                               premiums@pbgc.gov as soon as                               • Telephone at 800–736–2444                         North Rush Street, Chicago, Illinois
                                               reasonably possible that you are eligible               extension 4136 or 202–326–4136. (For                   60611. The agenda for this meeting
                                               for disaster relief. The email should                   TTY users, call 800–877–8339 and                       follows:
                                               contain the following identifying                       request connection to 202–326–4136.)                     Portion open to the public:
                                               information: (1) The number of the                         • U.S. mail at Practitioner Problem                   (1) Executive Committee Reports.
                                               applicable IRS News Release, (2) plan                   Resolution Officer, Pension Benefit                      The person to contact for more
                                               information, i.e., plan name, EIN, plan                 Guaranty Corporation, 1200 K Street                    information is Martha Rico-Parra,
                                               number, and, (3) the name and address                   NW, Suite 610, Washington, DC 20005–                   Secretary to the Board, Phone No. 312–
                                               of the person affected by the disaster.                 4026.                                                  751–4920.
                                               Item (3) may be omitted if the plan                        For general information on PBGC                       For the Board.
                                               administrator’s address reported in the                 disaster relief, please call our toll-free               Dated: June 28, 2018.
                                               most recently submitted premium filing                  practitioner number, 800–736–2444.                     Martha Rico-Parra,
                                               is in the applicable disaster area.                       Issued in Washington, DC.                            Secretary to the Board.
                                                  In situations where a filer is unable to
                                               submit, or anticipates difficulty in                    William Reeder,                                        [FR Doc. 2018–14258 Filed 6–28–18; 4:15 pm]

                                               submitting, the Comprehensive                           Director, Pension Benefit Guaranty                     BILLING CODE 7905–01–P

                                               Premium Filing by the end of the relief                 Corporation.
                                               period, the filer should notify us by                   [FR Doc. 2018–14125 Filed 6–29–18; 8:45 am]
                                               sending an email with the same                          BILLING CODE 7709–02–P                                 SECURITIES AND EXCHANGE
                                               information and to the same address                                                                            COMMISSION
                                               noted above.                                                                                                   [Release No. 34–83526; File No. SR–BX–
                                                  All other filings or actions: Notify us              POSTAL SERVICE                                         2018–027]
                                               by following the disaster relief
                                               instructions (if any) for the particular                Product Change—Priority Mail                           Self-Regulatory Organizations; Nasdaq
                                               filing. If there are no such instructions,              Express, Priority Mail, & First-Class                  BX, Inc.; Notice of Filing and
                                               filers should notify us of their eligibility            Package Service Negotiated Service                     Immediate Effectiveness of Proposed
                                               for relief by sending an email by the end               Agreement                                              Rule Change To Extend the
                                               of the relief period to the email address               AGENCY: Postal ServiceTM.                              Exchange’s Penny Pilot Program
                                               included in the instructions for the
                                                                                                       ACTION: Notice.
                                               particular filing, or on a PBGC web page                                                                       DATES:   June 26, 2018.
                                               listing applicable contact information,                 SUMMARY:    The Postal Service gives                      Pursuant to Section 19(b)(1) of the
                                               such as PBGC’s Contact Information for                  notice of filing a request with the Postal             Securities Exchange Act of 1934
                                               Practitioners page. The email should                    Regulatory Commission to add a                         (‘‘Act’’),1 and Rule 19b–4 thereunder,2
                                               contain relevant identifying                            domestic shipping services contract to                 notice is hereby given that on June 25,
                                               information, such as: (1) The number of                 the list of Negotiated Service                         2018, Nasdaq BX, Inc. (‘‘BX’’ or
                                               the applicable IRS News Release, (2)                    Agreements in the Mail Classification                  ‘‘Exchange’’) filed with the Securities
                                               plan information, i.e., plan name, EIN,                 Schedule’s Competitive Products List.                  and Exchange Commission (‘‘SEC’’ or
                                               plan number, and, (3) the name and                                                                             ‘‘Commission’’) the proposed rule
daltland on DSKBBV9HB2PROD with NOTICES




                                                                                                       DATES: Date of required notice: July 2,
                                               address of the person affected by the                   2018.                                                  change as described in Items I and II
                                               disaster. We encourage filers to notify us                                                                     below, which Items have been prepared
                                               as soon as reasonably possible.                         FOR FURTHER INFORMATION CONTACT:                       by the Exchange. The Commission is
                                                                                                       Elizabeth Reed, 202–268–3179.                          publishing this notice to solicit
                                               Requesting Case-by-Case Relief                          SUPPLEMENTARY INFORMATION:     The
                                                 Follow the instructions for requesting                United States Postal Service® hereby                     1 15   U.S.C. 78s(b)(1).
                                               a waiver or extension in the regulations                gives notice that, pursuant to 39 U.S.C.                 2 17   CFR 240.19b–4.



                                          VerDate Sep<11>2014   17:40 Jun 29, 2018   Jkt 244001   PO 00000   Frm 00085   Fmt 4703   Sfmt 4703   E:\FR\FM\02JYN1.SGM     02JYN1



Document Created: 2018-06-30 00:17:48
Document Modified: 2018-06-30 00:17:48
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionNotices
ActionNotice.
DatesThe Disaster Relief Announcement in this notice is effective for disasters for which the Internal Revenue Service has issued a disaster relief news release on or after July 2, 2018.
ContactStephanie Cibinic, Deputy Assistant General Counsel for Regulatory Affairs, Office of the General Counsel, Pension Benefit Guaranty Corporation, 1200 K Street NW, Washington, DC 20005-4026; [email protected]; 202-326-4400 extension 6352. TTY users may call the Federal relay service toll-free at 800-877-8339 and ask to be connected to 202-326-4400 extension 6352.
FR Citation83 FR 30991 

2025 Federal Register | Disclaimer | Privacy Policy
USC | CFR | eCFR