(a) Summary plan description and information to be furnished to participants and beneficiaries The administrator of each employee benefit plan shall cause to be furnished in accordance with section 1024(b) of this title to each participant covered under the plan and to each beneficiary who is receiving benefits under the plan - (1) a summary plan description described in section 1022(a)(1) (!1) of this title; and (2) the information described in sections 1024(b)(3) and 1025(a) and (c) of this title. (b) Reports to be filed with Secretary of Labor The administrator shall, in accordance with section 1024(a) of this title, file with the Secretary - (1) the annual report containing the information required by section 1023 of this title; and (2) terminal and supplementary reports as required by subsection (c) of this section. (c) Terminal and supplementary reports (1) Each administrator of an employee pension benefit plan which is winding up its affairs (without regard to the number of participants remaining in the plan) shall, in accordance with regulations prescribed by the Secretary, file such terminal reports as the Secretary may consider necessary. A copy of such report shall also be filed with the Pension Benefit Guaranty Corporation. (2) The Secretary may require terminal reports to be filed with regard to any employee welfare benefit plan which is winding up its affairs in accordance with regulations promulgated by the Secretary. (3) The Secretary may require that a plan described in paragraph (1) or (2) file a supplementary or terminal report with the annual report in the year such plan is terminated and that a copy of such supplementary or terminal report in the case of a plan described in paragraph (1) be also filed with the Pension Benefit Guaranty Corporation. (d) Notice of failure to meet minimum funding standards (1) In general If an employer maintaining a plan other than a multiemployer plan fails to make a required installment or other payment required to meet the minimum funding standard under section 1082 of this title to a plan before the 60th day following the due date for such installment or other payment, the employer shall notify each participant and beneficiary (including an alternate payee as defined in section 1056(d)(3)(K) of this title) of such plan of such failure.

Such notice shall be made at such time and in such manner as the Secretary may prescribe. (2) Subsection not to apply if waiver pending This subsection shall not apply to any failure if the employer has filed a waiver request under section 1083 of this title with respect to the plan year to which the required installment relates, except that if the waiver request is denied, notice under paragraph (1) shall be provided within 60 days after the date of such denial. (3) Definitions For purposes of this subsection, the terms "required installment" and "due date" have the same meanings given such terms by section 1082(e) of this title. (e) Notice of transfer of excess pension assets to health benefits accounts (1) Notice to participants Not later than 60 days before the date of a qualified transfer by an employee pension benefit plan of excess pension assets to a health benefits account, the administrator of the plan shall notify (in such manner as the Secretary may prescribe) each participant and beneficiary under the plan of such transfer.

Such notice shall include information with respect to the amount of excess pension assets, the portion to be transferred, the amount of health benefits liabilities expected to be provided with the assets transferred, and the amount of pension benefits of the participant which will be nonforfeitable immediately after the transfer. (2) Notice to Secretaries, administrator, and employee organizations (A) In general Not later than 60 days before the date of any qualified transfer by an employee pension benefit plan of excess pension assets to a health benefits account, the employer maintaining the plan from which the transfer is made shall provide the Secretary, the Secretary of the Treasury, the administrator, and each employee organization representing participants in the plan a written notice of such transfer. A copy of any such notice shall be available for inspection in the principal office of the administrator. (B) Information relating to transfer Such notice shall identify the plan from which the transfer is made, the amount of the transfer, a detailed accounting of assets projected to be held by the plan immediately before and immediately after the transfer, and the current liabilities under the plan at the time of the transfer. (C) Authority for additional reporting requirements The Secretary may prescribe such additional reporting requirements as may be necessary to carry out the purposes of this section. (3) Definitions For purposes of paragraph (1), any term used in such paragraph which is also used in section 420 of title 26 (as in effect on December 17, 1999) shall have the same meaning as when used in such section. (f) Repealed.

Pub. L. 105-200, title IV, Sec. 401(h)(1)(A), July 16, 1998, 112 Stat. 668 (g) Reporting by certain arrangements The Secretary may, by regulation, require multiple employer welfare arrangements providing benefits consisting of medical care (within the meaning of section 1191b(a)(2) of this title) which are not group health plans to report, not more frequently than annually, in such form and such manner as the Secretary may require for the purpose of determining the extent to which the requirements of part 7 are being carried out in connection with such benefits. (h) Simple retirement accounts (1) No employer reports Except as provided in this subsection, no report shall be required under this section by an employer maintaining a qualified salary reduction arrangement under section 408(p) of title 26. (2) Summary description The trustee of any simple retirement account established pursuant to a qualified salary reduction arrangement under section 408(p) of title 26 shall provide to the employer maintaining the arrangement each year a description containing the following information: (A) The name and address of the employer and the trustee. (B) The requirements for eligibility for participation. (C) The benefits provided with respect to the arrangement. (D) The time and method of making elections with respect to the arrangement. (E) The procedures for, and effects of, withdrawals (including rollovers) from the arrangement. (3) Employee notification The employer shall notify each employee immediately before the period for which an election described in section 408(p)(5)(C) of title 26 may be made of the employee's opportunity to make such election.

Such notice shall include a copy of the description described in paragraph (2). (i) Notice of blackout periods to participant or beneficiary under individual account plan (1) Duties of plan administrator In advance of the commencement of any blackout period with respect to an individual account plan, the plan administrator shall notify the plan participants and beneficiaries who are affected by such action in accordance with this subsection. (2) Notice requirements (A) In general The notices described in paragraph (1) shall be written in a manner calculated to be understood by the average plan participant and shall include - (i) the reasons for the blackout period, (ii) an identification of the investments and other rights affected, (iii) the expected beginning date and length of the blackout period, (iv) in the case of investments affected, a statement that the participant or beneficiary should evaluate the appropriateness of their current investment decisions in light of their inability to direct or diversify assets credited to their accounts during the blackout period, and (v) such other matters as the Secretary may require by regulation. (B) Notice to participants and beneficiaries Except as otherwise provided in this subsection, notices described in paragraph (1) shall be furnished to all participants and beneficiaries under the plan to whom the blackout period applies at least 30 days in advance of the blackout period. (C) Exception to 30-day notice requirement In any case in which - (i) a deferral of the blackout period would violate the requirements of subparagraph (A) or (B) of section 1104(a)(1) of this title, and a fiduciary of the plan reasonably so determines in writing, or (ii) the inability to provide the 30-day advance notice is due to events that were unforeseeable or circumstances beyond the reasonable control of the plan administrator, and a fiduciary of the plan reasonably so determines in writing, subparagraph (B) shall not apply, and the notice shall be furnished to all participants and beneficiaries under the plan to whom the blackout period applies as soon as reasonably possible under the circumstances unless such a notice in advance of the termination of the blackout period is impracticable. (D) Written notice The notice required to be provided under this subsection shall be in writing, except that such notice may be in electronic or other form to the extent that such form is reasonably accessible to the recipient. (E) Notice to issuers of employer securities subject to blackout period In the case of any blackout period in connection with an individual account plan, the plan administrator shall provide timely notice of such blackout period to the issuer of any employer securities subject to such blackout period. (3) Exception for blackout periods with limited applicability In any case in which the blackout period applies only to 1 or more participants or beneficiaries in connection with a merger, acquisition, divestiture, or similar transaction involving the plan or plan sponsor and occurs solely in connection with becoming or ceasing to be a participant or beneficiary under the plan by reason of such merger, acquisition, divestiture, or transaction, the requirement of this subsection that the notice be provided to all participants and beneficiaries shall be treated as met if the notice required under paragraph (1) is provided to such participants or beneficiaries to whom the blackout period applies as soon as reasonably practicable. (4) Changes in length of blackout period If, following the furnishing of the notice pursuant to this subsection, there is a change in the beginning date or length of the blackout period (specified in such notice pursuant to paragraph (2)(A)(iii)), the administrator shall provide affected participants and beneficiaries notice of the change as soon as reasonably practicable.

In relation to the extended blackout period, such notice shall meet the requirements of paragraph (2)(D) and shall specify any material change in the matters referred to in clauses (i) through (v) of paragraph (2)(A). (5) Regulatory exceptions The Secretary may provide by regulation for additional exceptions to the requirements of this subsection which the Secretary determines are in the interests of participants and beneficiaries. (6) Guidance and model notices The Secretary shall issue guidance and model notices which meet the requirements of this subsection. (7) Blackout period For purposes of this subsection - (A) In general The term "blackout period" means, in connection with an individual account plan, any period for which any ability of participants or beneficiaries under the plan, which is otherwise available under the terms of such plan, to direct or diversify assets credited to their accounts, to obtain loans from the plan, or to obtain distributions from the plan is temporarily suspended, limited, or restricted, if such suspension, limitation, or restriction is for any period of more than 3 consecutive business days. (B) Exclusions The term "blackout period" does not include a suspension, limitation, or restriction - (i) which occurs by reason of the application of the securities laws (as defined in section 78c(a)(47) of title 15,(!2) (ii) which is a change to the plan which provides for a regularly scheduled suspension, limitation, or restriction which is disclosed to participants or beneficiaries through any summary of material modifications, any materials describing specific investment alternatives under the plan, or any changes thereto, or (iii) which applies only to 1 or more individuals, each of whom is the participant, an alternate payee (as defined in section 1056(d)(3)(K) of this title), or any other beneficiary pursuant to a qualified domestic relations order (as defined in section 1056(d)(3)(B)(i) of this title). (8) Individual account plan (A) In general For purposes of this subsection, the term "individual account plan" shall have the meaning provided such term in section 1002(34) of this title, except that such term shall not include a one-participant retirement plan. (B) One-participant retirement plan For purposes of subparagraph (A), the term "one-participant retirement plan" means a retirement plan that - (i) on the first day of the plan year - (I) covered only the employer (and the employer's spouse) and the employer owned the entire business (whether or not incorporated), or (II) covered only one or more partners (and their spouses) in a business partnership (including partners in an S or C corporation (as defined in section 1361(a) of title 26),(!3) (ii) meets the minimum coverage requirements of section 410(b) of title 26 (as in effect on July 30, 2002) without being combined with any other plan of the business that covers the employees of the business, (iii) does not provide benefits to anyone except the employer (and the employer's spouse) or the partners (and their spouses), (iv) does not cover a business that is a member of an affiliated service group, a controlled group of corporations, or a group of businesses under common control, and (v) does not cover a business that leases employees. (j) Cross reference For regulations relating to coordination of reports to the Secretaries of Labor and the Treasury, see section 1204 of this title.