The following terms are defined in § 4001.2 of this chapter: benefit liabilities, Code, contributing sponsor, controlled group, ERISA, fair market value, irrevocable commitment, multiemployer plan, PBGC, person, plan, plan administrator, plan year, single-employer plan, ultimate parent, and U.S. entity.
In addition, for purposes of this part:
De minimis 10-percent segment means, in connection with a plan's controlled group, one or more entities that in the aggregate have for a fiscal year -
(1) Revenue not exceeding 10 percent of the controlled group's revenue;
(2) Annual operating income not exceeding the greater of -
(i) 10 percent of the controlled group's annual operating income; or
(ii) $5 million; and
(3) Net tangible assets at the end of the fiscal year(s) not exceeding the greater of -
(i) 10 percent of the controlled group's net tangible assets at the end of the fiscal year(s); or
(ii) $5 million.
De minimis 5-percent segment has the same meaning as de minimis 10-percent segment, except that “5 percent” is substituted for “10 percent” each time it appears.
Event year means the plan year in which a reportable event occurs.
Foreign entity means a member of a controlled group that -
(1) Is not a contributing sponsor of a plan;
(2) Is not organized under the laws of (or, if an individual, is not a domiciliary of) any state (as defined in section 3(10) of ERISA); and
(3) For the fiscal year that includes the date the reportable event occurs, meets one of the following tests -
(i) Is not required to file any United States federal income tax form;
(ii) Has no income reportable on any United States federal income tax form other than passive income not exceeding $1,000; or
(iii) Does not own substantial assets in the United States (disregarding stock of a member of the plan's controlled group) and is not required to file any quarterly United States tax returns for employee withholding.
Foreign parent means a foreign entity that is a direct or indirect parent of a person that is a contributing sponsor of a plan.
Low-default-risk has the meaning described in § 4043.9.
Notice due date means the deadline (including extensions) for filing notice of a reportable event with PBGC.
Participant means a participant as defined in § 4006.2 of this chapter.
Public company means a person subject to the reporting requirements of section 13 or 15(d) of the Securities Exchange Act of 1934 or a subsidiary (as defined for purposes of the Securities Exchange Act of 1934) of a person subject to such reporting requirements.
Substantial owner means a substantial owner as defined in section 4021(d) of ERISA.
Well-funded plan safe harbor has the meaning described in § 4043.10.
[80 FR 55002, Sept. 11, 2015, as amended at 83 FR 49806, Oct. 3, 2018; 85 FR 6061, Feb. 4, 2020]