PBGC—Seeking Changes to Form 5500 Reporting—Requests OMB Approval for Modifications to the Agency’s Information Collection Authority

The Pension Benefit Guaranty Corporation (PBGC) is requesting that the Office of Management and Budget (OMB) extend approval, with modifications, for the agency to collect information pertaining to retirement plan annual reporting on Form 5500, Annual Return/Report of Employee Benefit Plan.

The PBGC is proposing modifications to the 2020 Form 5500 Schedule R, Retirement Plan Information, and its related instructions. The proposed modifications would affect multiemployer (union) defined benefit pension plans covered by Title IV of ERISA. PBGC is also proposing other minor modifications to the Form 5500 series to improve the accuracy of reported information.

The PBGC is publishing a notice informing the public of its request for OMB approval.  Comments on the request are to be submitted no later than 30 days after publication in the Federal Register, which is currently scheduled for tomorrow, November 13.