Termination of Single Employer Plans

MISSING PARTICIPANTS
FILING INSTRUCTIONS

This package contains:
Schedule MP
Attachment A
Attachment B
Payment Voucher
Instructions

THE FORMS AND INSTRUCTIONS IN THIS BOOKLET APPLY TO STANDARD AND DISTRESS
TERMINATIONS WITH MISSING PARTICIPANTS. YOU WILL ALSO NEED THE STANDARD OR DISTRESS
TERMINATION PACKAGE, AS APPLICABLE.
Paperwork Reduction
Act Notice
PBGC needs the information required by Schedule MP
(and applicable attachments) to administer the Missing
Participants Program. Section 4050 of the Employee
Retirement Income Security Act of 1974 provides for the
Missing Participants Program to assist plan administrators
in closing out plans and to help participants and
beneficiaries, who could not be located when plan benefits
were being distributed, to obtain their benefits. PBGC
will use the information to direct Missing Participants for
whom annuity contracts were purchased to the appropriate
insurance company; to locate and pay Missing Participants
for whom benefits were paid to PBGC; and to monitor
and audit compliance. You are required to provide this
information pursuant to section 4050 of ERISA and 29
CFR Part 4050. The information provided to PBGC may
be subject to disclosure under the Freedom of Information
Act or protected from disclosure by the Privacy Act, as
applicable.
This collection of information has been approved by the
Office of Management and Budget (OMB) under control
number 1212-0036. An agency may not conduct or sponsor,
and a person is not required to respond to, a collection
of information unless it displays a currently valid OMB
control number.
PBGC estimates that it will take an average of 1.21 hours of
the plan administrator’s time and cost the plan administrator
$1,699 per plan to comply with standard termination
paperwork requirements, including requirements for
Missing Participants. (See PBGC’s Distress Termination
Package for burden estimates for distress terminations.)
These are estimates and the actual time will vary depending
on the circumstances of a given plan.
If you have comments concerning the accuracy of
these estimates or suggestions for making the forms
simpler, please send your comments to the Legislative
and Regulatory Department, Pension Benefit Guaranty
Corporation, 1200 K Street, NW, Washington, DC 200054026.

Table of Contents
I. OVERVIEW
II. GENERAL INSTRUCTIONS FOR

MISSING PARTICIPANT FORMS

A. Who Must File

B. What to File and Pay

C. When to File and Pay

1. In General

2. Due Dates for Later Filings

3. Filing Methods and Filing Date

4. Requests for Deadline Extensions

D. Where to File and Pay

1. Where to File

2. Where to Pay

3. Penalties and Interest

E. Forms and Instructions; Contacting Us

F. Recordkeeping Requirements

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III. SPECIFIC INSTRUCTIONS FOR

MISSING PARTICIPANT FORMS
6

A. Schedule MP
6

1. Plan Identification Information
6

2. Missing Participant Information
6

3. Amounts Due to PBGC
7

B. Attachment A

(Annuity Purchase Information)
7

C. Attachment B (Individual Information)
7

1. Plan Identification Information
7

2. Identification of Missing Participant
7

3. Amounts Due to PBGC
8

4. Missing Participant Who is a Participant

And Whose Benefit Was Not in Pay Status 10

5. Missing Participant Who is a Beneficiary

and Whose Benefit Was Not in Pay
Status 10

6. Missing Participant Who Was in

Pay Status 10
Table of Plan Benefit Forms
12
Appendix A: Examples of Designated

Benefit Determinations

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Overview

I. OVERVIEW
PBGC has established a Missing Participants Program for single-employer defined benefit pension plans subject to Title IV of
ERISA. This program helps terminating plans distribute Missing Participants’ benefits and helps Missing Participants receive
their benefits. A Missing Participant is a participant or beneficiary (including a participant’s spouse or alternate payee) entitled
to a distribution under a terminating plan whom, after a diligent
search, the plan administrator has not located as of the date the
plan administrator pays the individual’s designated benefit to
the PBGC (or distributes the individual’s benefit by purchasing
an irrevocable commitment from an insurer). In the absence
of proof of death, individuals not located are presumed living.

Be carried on in such a manner that if the individual is
found, distribution can reasonably be expected to be
made on or before the deemed distribution date;

•

Include inquiry of any plan beneficiaries (including
alternate payees) of the Missing Participant whose
names and addresses are known to the plan administrator; and

•

Include use of a commercial locator service to search
for the Missing Participant (without charge to the
Missing Participant or reduction of the Missing Participant’s plan benefit).

Step 2: Method(s) of Distribution
 Determine for each Missing Participant whether you
will distribute the benefits of that Missing Participant by
purchasing an irrevocable commitment from an insurance company or by paying the value of the Missing
Participant’s benefit to PBGC.

Note: You may use the PBGC’s Missing Participants Program
for a participant or beneficiary only if you are unable to locate
the person after a diligent search (see Step 1, below). The mere
fact that a person fails to return an election form or cash a check
does not mean the person is a “Missing Participant.” Unless
a person is a “Missing Participant,” you must, in accordance
with all applicable requirements under the Code and ERISA,
distribute plan assets in satisfaction of all plan benefits by
purchase of an irrevocable commitment from an insurer or by
distributing benefits to the person in another permitted form.

Step 3: Deemed Distribution Date
 Select a deemed distribution date and calculate the value
of the Missing Participants’ benefits as of that date using
the rules in PBGC’s Missing Participants regulation (see
29 CFR §§ 4050.5 and 4050.12). The deemed distribution
date must be no later than the distribution deadline, including extensions, under 29 CFR § 4041.28(a), and no earlier
than the date when distributions have been completed for
all other participants and beneficiaries (including Missing
Participants for whom you provide annuities). (See section
III.A. Part II.3.c., below.)

NOTE: The Pension Protection Act of 2006 (PPA 2006)
amended section 4050 of ERISA to expand the Missing Participants Program to cover multiemployer plans, small professional
service employer plans (25 or fewer active participants), and
individual account plans (such as 401(k) plans).  The changes
will be effective after PBGC issues final regulations implementing the PPA change.

Note: If, late in the distribution period, you locate a
participant or beneficiary or learn that a participant or
beneficiary cannot be located, you may request an extension of the distribution deadline, if necessary. To request
a deadline extension, see instructions in Section II.J of the
Standard Termination Package or Section C of Appendix
C of the Distress Termination Package.

The instructions provided below do not reflect the changes
made by PPA. PBGC will issue new forms and instructions in
connection with  the final regulations implementing the PPA
change. 

Step 4: Forms and Payments
 Complete Schedule MP and the applicable attachment(s)
and send them to PBGC with the Post-Distribution Certification. These forms must contain information required by
PBGC to identify and locate Missing Participants to whom
it will pay benefits, to compute and pay those benefits, and
to direct individuals for whom the plan purchased annuities
to the appropriate insurance company.

In the following, the terms “you” and “plan administrator”
are used interchangeably.
You must follow specific steps in distributing the benefits
of Missing Participants on plan termination. These steps are
briefly summarized below. Sections II and III below provide
detailed instructions.

If you are sending payment to PBGC for one or more
Missing Participants, you may submit a check with your
Missing Participant Payment Voucher or arrange for a wire
transfer and indicate on your Missing Participant Payment
Voucher the amount that has been transferred. See section
II.D.2 for payment information. The filing deadline for
Schedule MP, for the Post-Distribution Certification, and

Step 1: Diligent Search
 Conduct a diligent search for all participants and beneficiaries whom you could not locate. “Diligent search” is
defined in 29 CFR § 4050.4. A diligent search must —
•

•

Begin not more than 6 months before notices of intent
to terminate are issued;
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General Instructions
for payment of designated benefits to PBGC is 30 days
after the deemed distribution date.

5. If requested information is not available, write “N/A” in the
space provided or next to the question.

If you purchased annuities for all Missing Participants
and are not paying designated benefits to PBGC, the
deadline for filing Schedule MP and the Post-Distribution
Certification is 30 days after the last distribution of assets
in satisfaction of plan benefits (through priority category 6
under section 4044 of ERISA and 29 CFR Part 4044).

PBGC will accept the original pre-printed forms, photocopies
of the forms, or downloaded forms. However, Schedule MP
must have an original signature. For this reason, Schedule MP
cannot be faxed or e-mailed to PBGC. See II.C.3. for filing
instructions for this form.

A. Who Must File

Note: PBGC may assess a penalty for late filing of Schedule MP. However, PBGC will do so only to the extent the
information is filed more than 90 days after the distribution
deadline (including extensions) (see section II.H.1 of the
Standard Termination Package or section C of Appendix C
of the Distress Termination Package.) Also, PBGC will assess interest for late payment of amounts for Missing Participants only to the extent the payment is made more than 90
days after that distribution deadline (including extensions).

If your plan is terminating in a standard termination (or in a
distress termination in which the plan is sufficient for at least
guaranteed benefits and closes out in the private sector), you
must file Schedule MP with PBGC if you have one or more
Missing Participants. PBGC will apply this filing requirement to participants or beneficiaries who are eligible for a
distribution of residual assets but cannot be located, after a
diligent search, at the time residual assets are distributed. In
addition, this filing requirement will apply for a distribution pursuant to a PBGC audit of a plan termination where
individuals entitled to a distribution cannot be located
after a diligent search. See section II.C.2. With regard to
distributions of residual assets or after an audit, a diligent
search is not required for an individual if an earlier diligent
search was done for the individual and the individual was not
found, i.e., the individual was determined to be a Missing
Participant.

This package contains (1) Missing Participant filing instructions, and (2) Schedule MP, including Attachment A (Annuity
Purchase Information), Attachment B (Individual Information
for Missing Participants for whom amounts are paid to PBGC),
and a Missing Participant Payment Voucher to submit with
payment to PBGC.
The specific rules for distributing benefits for Missing
Participants are set forth in section 4050 of ERISA and in
PBGC’s regulation on Missing Participants (29 CFR Part
4050), which are available on PBGC’s Web site, www.pbgc.
gov, along with Missing Participant forms and instructions.

B. What to File and Pay
You must file Schedule MP, including Attachment A (Annuity Purchase Information), Attachment B (Individual Information), or both, as applicable. File Attachment A if the
plan purchased an irrevocable commitment for one or more
Missing Participants. File a separate Attachment B for each
Missing Participant for whom amounts are due to PBGC.
You must send payment of the total of the amounts on the
Attachment B(s) to PBGC, together with a Payment Voucher.

Note: If, after paying a designated benefit to PBGC for
a Missing Participant, you are contacted by that Missing
Participant, please refer the individual to PBGC’s Customer Contact Center ((800) 400-7242) for payment of
the individual’s benefit.

II. GENERAL INSTRUCTIONS FOR
MISSING PARTICIPANT FORMS

C. When to File and Pay

PBGC may assess penalties for incomplete filings. Therefore,
you should ensure that an appropriate response is provided for
each item, as follows:

1. In General. The filing due date for the Schedule MP (including attachments) and payment of designated benefits
(including Payment Voucher) is the same as for the PostDistribution Certification.

1. If an item requests a numeric response, a number must be
entered.
2. If an item provides a box or boxes to be checked, a check
should be entered (written responses are not acceptable).

2. Due Dates for Later Filings. In some cases, after you
have already filed the Post-Distribution Certification, you
may be required to file a Schedule MP (including applicable
attachment(s) and payment), or an amended Schedule MP
if a Schedule MP was previously filed. Where there are
one or more persons whom you cannot locate, after a
diligent search, at the time benefits must be distributed in
the following situations, the following due dates apply:

3. No additions or deletions may be made to the certifications
required to be signed by the plan administrator or enrolled
actuary.
4. All information requested by an item must be provided,
e.g., Missing Participants’ full names; complete addresses
where requested.
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General Instructions

(a) Residual Assets. If residual assets remaining after
the satisfaction of all plan benefits through priority
category 6 (under section 4044 of ERISA and 29
CFR Part 4044) are owed to one or more Missing Participants, you must submit a Schedule MP (including
Attachments A and Bs, as applicable) and any amounts
that will be paid to PBGC, no earlier than the date
when the Post-Distribution Certification is filed with
PBGC, and no later than the 30th day after the date
on which all residual assets have been distributed to
all participants and beneficiaries other than Missing
Participants.

If PBGC receives your submission after 5:00 p.m. (Washington, D.C. time) on a business day, or anytime on a
weekend or Federal holiday, PBGC treats it as received
on the next business day.
Filings by mail. If you file your submission using the
U.S. Postal Service, your filing date is the date you mail
your submission by the last collection of the day, provided that the submission: (1) meets the applicable postal
requirements; (2) is properly addressed; and (3) is sent by
First-Class Mail (or another class that is at least equivalent).
If you mail the submission after the last collection of the
day, or if there is no scheduled collection that day, your
filing date is the date of the next scheduled collection. If
you meet these requirements, PBGC makes the following
presumptions:

Note: If you previously filed the Post-Distribution Certification and are using the Missing Participants Program to
provide residual assets with respect to a person who cannot
be located at the time residual assets are distributed, file
only Schedule MP (with applicable attachment(s)) and, if
appropriate, a Payment Voucher. Do not file a new PostDistribution Certification. (Form 501 or Form 602)

(b) PBGC Audit of Plan Termination. If, pursuant to an
audit of the plan termination, amounts are owed to
one or more participants or beneficiaries who are
Missing Participants, you must submit a Schedule MP
(with applicable attachments) and any amounts that
will be paid to PBGC by the date specified by PBGC
in connection with the audit, unless PBGC grants an
extension.

Legible postmark date. If your submission has a legible
U.S. Postal Service postmark, PBGC presumes that the
postmark date is the filing date.
Legible private meter date. If your submission has a legible
postmark made by a private postage meter (but no legible
U.S. Postal Service postmark) and arrives at the proper
address by the time reasonably expected, PBGC presumes
that the metered postmark date is your filing date.
You may prove an earlier send date.
Filings using a commercial delivery service. If you
file your submission using a commercial delivery service,
your filing date is the date you deposit your submission
by the last scheduled collection of the day for the type of
delivery you use (such as two-day delivery or overnight
delivery) with the commercial delivery service, provided
that the submission meets the applicable requirements of
the commercial delivery service and is properly addressed,
and the delivery service meets one of the requirements
listed below. If you deposit it later than that last scheduled
collection of the day, or if there is no scheduled collection
that day, your filing date is the date of the next scheduled
collection. The delivery service must meet one of the following requirements:

3. Filing Methods and Filing Date. You may file Schedule MP (including attachments) and make payments to
PBGC by hand, mail, or commercial delivery service.
In addition, in some circumstances, the attachments may
be filed electronically. Note: Schedule MP may not be
faxed or e-mailed to PBGC because this form requires an
original signature.
The discussion below describes the rules for filings other
than electronic filings. For information on wire transfers,
see section D.2.(b). If you want to file attachments to
Schedule MP in electronic form, contact PBGC using the
contact information in part E, below. When you have 100
or more Missing Participants, PBGC strongly encourages
you to file the attachments to Schedule MP by submitting
a computer disk. Complete rules on filing methods and on
how PBGC determines your filing date are on PBGC’s Web
site, www.pbgc.gov (click on “Resources” tab and select
“Law & Regulations” on left menu bar).

Delivery within two days. It must be reasonable to expect
your submission will arrive at the proper address by 5:00
p.m. on the second business day after the next scheduled
collection; or
Designated private delivery service. You must use a
“designated private delivery service” within the meaning
of § 7502(f) of the Code. PBGC’s Web site, www.pbgc.
gov, lists those designated private delivery services (at
the “Practitioners” page select “Contact Us” tab, “More
contact information for practitioners,” and then “Commercial delivery services”). You should make sure that
both the provider and the particular type of delivery (such
as two-day delivery) are designated.

Your filing date will be the date you send your filing (the
“send date”), provided you meet certain requirements that
are summarized below. If you do not meet these requirements, your filing date is the date PBGC receives your
submission. (If you file your submission by hand, your
filing date is the date of receipt of your hand-delivered
submission at the proper address.)
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General Instructions
with a completed Payment Voucher to the appropriate lockbox address below. Make the check payable to the Pension
Benefit Guaranty Corporation and write the plan’s EIN/PN
and PBGC Case Number on your check. Send one check
for the plan, not separate checks for each participant.

4. Requests for Deadline Extensions. PBGC may in
its discretion extend a deadline for taking a required action
to a later date. PBGC will grant such an extension where
it finds compelling reasons why it is not administratively
feasible for you (or other persons acting on your behalf)
to take the action until the later date and the delay is brief.
PBGC will consider (1) the length of the delay and (2)
whether ordinary business care and prudence in attempting
to meet the deadline was exercised.

Note: The amount you pay to the PBGC with this filing
must equal the amount entered in column (1) of item 4c
of Schedule MP (this is the same amount that should be
entered in item 3a of the Missing Participant Payment
Voucher). The amount entered in column (1) of item 4c of
Schedule MP must equal the sum of all amounts entered
in column (1) of item 3c of the Attachments B (Individual
Information) submitted with this filing.

If you are using the U.S. Postal Service:

Note: PBGC will not extend the following statutory deadlines: (1) that the Notice of Intent to Terminate (NOIT) be
issued not less than 60 days before the proposed termination date, (2) that the Notice of Plan Benefits (NOPB)
be issued by the time the plan administrator files the
standard termination notice with PBGC, and (3) that the
Post-Distribution Certification be filed with PBGC within
30 days after the last distribution date. (Although PBGC
may assess a penalty for late filing of a Post-Distribution
Certification, it will do so only to the extent the PostDistribution Certification is filed more than 90 days after
the distribution deadline (including extensions) described
in section II.H.1. of the Standard Termination Package
and section C of Appendix C of the Distress Termination
Package.)

Pension Benefit Guaranty Corporation
P.O. Box 64523
Baltimore, MD 21264-4523
If you are using a delivery service other than the U.S. Postal
Service:
M&T Bank
Attn: Lockbox #64523, 8th Floor
1800 Washington Blvd.
Baltimore, MD 21230

If you file a request for an extension with PBGC later than
the 15th day before the applicable deadline, you must include a justification for not filing the request earlier.
Requests for extensions must be in writing and —

Addressed to:
Pension Benefit Guaranty Corporation
Standard Termination Compliance Division
Processing and Technical Assistance Branch
1200 K Street, NW
Washington, DC 20005-4026

Send wire transfer to:
M&T Bank
Baltimore, Maryland
ABA: 022000046
Account: 191-1428-6
Beneficiary: PBGC
Payment ID line: (MP, the plan’s EIN/PN, and the standard termination case number)

E-mailed to: [email protected]; or
Faxed to: (202) 326-4001

Please use the following format:
“MP, EIN/PN:XX-XXXXXXX/XXX, CN:XXXXXXXX”

D. Where to File and Pay

3. Penalties and Interest. If a plan administrator fails
to provide any required information within the specified
time limit, PBGC may assess a penalty of up to $1,100 a
day for each day that the failure continues. However, it
will do so only to the extent the information is filed more
than 90 days after the distribution deadline (including
extensions) determined under 29 CFR § 4041.28(a) or
§ 4041.50, whichever applies, for closeout of a plan. Also,
PBGC will assess interest for late payment of amounts
for Missing Participants only to the extent the payment
is made more than 90 days after the distribution deadline.
See 29 CFR § 4050.6(b) and PBGC’s Statement of Policy
on ERISA section 4071 penalties, 60 Fed. Reg. 36,837
(July 18, 1995).

1. Where to File. File the Schedule MP (including any
required attachments) with the Post-Distribution Certification. Send the forms to:
Pension Benefit Guaranty Corporation
Standard Termination Compliance Division
1200 K Street, NW
Washington, DC 20005-4026
2. Where to Pay.

(b) Wire transfers.

(a) Checks.
Send payment for designated benefits and/or other amounts
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Schedule MP

E. Forms and Instructions; Contacting Us

III. SPECIFIC INSTRUCTIONS

You may obtain forms and instructions from PBGC’s Web site
at www.pbgc.gov.

A. Schedule MP

If you have any questions about Missing Participants, standard
terminations, or distress terminations, or if you need copies
of this Missing Participant Package, the Standard Termination Package, or the Distress Termination Package, call the
toll-free telephone number at PBGC’s Customer Service
Center for Plan Administrators and Pension Professionals (1800-736-2444). (TTY/TDD users may call the Federal relay
service toll-free at 1-800-877-8339 and ask to be connected to
1-800-736-2444.)

If you previously filed one or more Schedule MPs for this
plan, check the box immediately below “PART I.” If you
checked the box, provide the date(s) of any filing(s).
Note: If this filing is an amended Schedule MP, you must
file an amended Form 501 (if you filed a standard termination) or an amended Form 602 (if you filed a distress termination that is sufficient for at least guaranteed benefits)
unless you are using the Missing Participants Program
to provide residual assets with respect to a person who
cannot be located at the time residual assets are payable.
See Note on p. 4.

E-mail addresses:

Standard Terminations ([email protected]) —
Questions about Missing Participants in a standard
termination.

Distress Terminations ([email protected]) —
Questions about Missing Participants in a distress
termination.

Part I. Plan Identification Information
1a Enter the complete name of the plan as it appears in the
plan document.
1b-c Enter the 9-digit employer identification number (EIN)
assigned to the contributing sponsor by the Internal
Revenue Service for income tax purposes and the
3-digit plan number (PN) assigned by the plan sponsor.

Fax: (202) 326-4001

F. Recordkeeping Requirements
Each contributing sponsor and the plan administrator of a terminated plan must maintain all records necessary to demonstrate
compliance with section 4041 of ERISA and 29 CFR Part 4041
for six years after the date the Post-Distribution Certification
is filed with PBGC. For rules on maintaining records electronically, see 29 CFR Part 4000, Subpart E (also available on
PBGC’s Web site, www.pbgc.gov at the “Practitioners” page
select “Code of Federal Regulations” under “Law, Regulations
& Informal Guidance”).

1d Enter the PBGC case number.
Part II. Missing Participant Information
2a

Enter the name and address (mailing or Internet) of commercial locator service(s) used. If more than one service
was used, attach sheet with information.

3a-b Enter the number of Missing Participants for whom irrevocable commitments were purchased, and the number
of Missing Participants for whom amounts are being paid
to PBGC. Enter zero in 3a if no annuities were purchased
for Missing Participants, and zero in 3b if no amounts are
being paid to PBGC. Entries are required in both 3a and
3b, as well as in both columns (1) and (2).

Note: If a contributing sponsor or the plan administrator
maintains information in accordance with this requirement,
the other(s) need not maintain that information.
For each Missing Participant, these records must include all
evidence of a diligent search and all underlying data, including worksheets prepared by or at the direction of the enrolled
actuary, used in determining the amount, form, and value of
the plan benefits.

Within 30 days after receipt of PBGC’s written request for
records or by a later date specified in the request, the contributing sponsor or plan administrator, as applicable, must make all
such records available to PBGC upon request for inspection and
photocopying (or, for electronic records, inspection, electronic
copying, and printout) at the location where they are kept (or
another, mutually agreeable, location), or must submit copies
of the records to PBGC.

If this is your first submission of a Schedule MP, the
same numbers should be entered in columns (1) and (2),
and the numbers entered should be consistent with the
Missing Participants reported on the Attachments A and/
or B that are attached
If this filing is an amended Schedule MP, Attachments
A and/or B for only those Missing Participants for whom
you are reporting additional or revised information with
the amended filing should be attached. The numbers
entered in column (1) should be a count of only those
Missing Participants reported on Attachments A and/or B
that are attached. The entries in column (2) should be a
count of all Missing Participants reported on Attachments
A and/or B that you have submitted to PBGC, in this filing
and all earlier filings.

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Schedule MP
3c

The deemed distribution date is (1) the distribution deadline (including extensions) or (2) if the plan administrator
selects an earlier date that is no earlier than the date when
all distributions have been made under the plan except
for distributions to Missing Participants whose designated
benefits are paid to PBGC, such earlier date. The distribution deadline (including extensions) is described in section
II.H.1 of the Standard Termination Package and section
C of Appendix C of the Distress Termination Package.

B. Attachment A (Annuity Purchase Information)

Note: If the only amounts you are distributing or have
distributed to Missing Participants are residual assets or voluntary employee contributions i.e., you have
never paid designated benefits to PBGC or purchased
annuities for any Missing Participant in the plan, enter
“00/00/0000” for the deemed distribution date.

Part I. Plan Identification Information

File Attachment A (Annuity Purchase Information) with the
Schedule MP if the plan purchased an irrevocable commitment
for one or more Missing Participants.
If you previously filed one or more Attachments A for this
plan, check the box immediately below “PART I.”
The information entered in Part I should be the same as that
entered in Part I of the Schedule MP.
Part II. Insurance Company Information
2a-d Enter name and address of insurer, and the name, telephone
number and e-mail of your contact at the insurer.

Part III. Amounts Due to PBGC
4a-c The same instructions that applied to items 3a and 3b
above apply to items 4a-4c (if the amount in any item
is zero, enter zero; do not leave blank). As was done
for items 3a and 3b above, entries are required in both
columns (1) and (2), and what is entered in each column
depends on whether this is your first submission of a
Schedule MP, or an amended submission.

2e

Enter the policy number with the insurer.

Part III. Annuitized Missing Participant Information
For each Missing Participant listed in Part III, enter the full name,
Social Security Number, and date of birth of the Missing Participant
and, if applicable, of the Missing Participant’s spouse or beneficiary.
Also enter the certificate number for the Missing Participant’s
annuity.

For items 4a (Total amount of designated benefits), 4b
(Total of other amounts due for Missing Participants) and
4c (Total amount due to PBGC), the numbers entered in
column (1) should equal the sum of the amounts in items
3a, 3b, and 3c, respectively, of all Attachments B (Missing
Participant Individual Information) submitted with this
filing. If this filing is your first submission of a Schedule
MP, the same numbers should be entered in columns (1)
and (2). If this is an amended filing, the numbers entered
in column (2) for items 4a, 4b, and 4c, should equal the
sum of the amounts in items 3a, 3b, and 3c, respectively,
of all Attachments B that you have submitted to PBGC,
in this filing and all earlier filings.

For the Missing Participant’s Monthly Benefit, enter the monthly benefit (in the normal form payable under plan provisions)
payable at the Missing Participant’s normal retirement age. The
normal form is the form in which the benefit is typically paid
paid under plan provisions (generally a single-life or joint-life
annuity). If the Missing Participant is an alternate payee or other
beneficiary, enter the monthly benefit amount payable at the
earliest date the alternate payee or other beneficiary may begin
receiving benefits. If the Missing Participant was in pay status,
enter the monthly benefit amount that was in pay status.

C. Attachment B (Missing Participant Individual Information)

Part IV. Plan Administrator Certification
Part IV should be completed and signed by the plan’s administrator.

File an Attachment B (Missing Participant Individual Information) with the Schedule MP for each Missing Participant for
whom an amount is due to PBGC. On each Attachment B, enter
the sequence number of the attachment in terms of the total
number of Attachments B that are submitted with this filing.

Part V. Enrolled Actuary Certification
If only an Attachment A is attached to the Schedule MP, i.e.,
all distributions to Missing Participants in this filing were by
the purchase of irrevocable commitments, Part V does not
need to be completed. If any benefits were paid to PBGC for
Missing Participants in this filing, Part V should be completed
and signed by an Enrolled Actuary.

Part I. Plan Identification Information
The information entered in Part I should be the same as that
entered in Part I of the Schedule MP.
Part II. Identification of Missing Participant
If you previously filed one or more Attachments B for this
individual, check the box immediately below “PART II.”

7

Schedule MP

2a-g Enter the requested identification information for the
Missing Participant.

After determining the category of designated benefit for
the Missing Participant under A., above, calculate the
amount of the designated benefit using the applicable
calculation instructions below for that category.

Part III. Amounts Due to PBGC
Note: Where amounts are requested for items 3a-3c, if the
amount in any item is zero, enter zero; do not leave blank.
As was done for items 4a-4c on the Schedule MP, entries
are required in both columns (1) and (2). What is entered
in each column depends on whether this is your first submission of an Attachment B for this individual, or if you
previously filed an Attachment B for this individual.

(1) Mandatory lump sum. The designated benefit amount
is the amount that the plan would have distributed to this
Missing Participant as of the deemed distribution date.
The amount must be no greater than the plan’s cash
out limit, which must not exceed the dollar limit under  
§ 411(a)(11) of the Code (currently $5,000).
(2) De minimis lump sum. The designated benefit amount
is the lump sum amount calculated as of the deemed
distribution date using PBGC “Missing participant lump
sum assumptions” and the “most valuable benefit” for a
Missing Participant who is not in pay status. “Missing
participant lump sum assumptions” and “most valuable
benefit” are defined in C., below. As with (1), the amount
entered must not be more than $5,000.

If this is your first submission of an Attachment B for
this individual, the same amounts should be entered in
columns (1) and (2) for items 3a-3c.
If you previously filed an Attachment B for this individual, the responses entered in column (1) for items 3a-3c
should reflect only the revised or additional information
that you are reporting for this individual in this filing. The
entries in column (2) should reflect the responses of all
Attachments B that you have submitted to PBGC, in this
filing and all earlier filings.
3

(3) No lump sum. The designated benefit amount is the
actuarial present value of the Missing Participant’s benefit as of the deemed distribution date calculated using
PBGC “Missing participant annuity assumptions” and
the “most valuable benefit.” “Missing participant annuity
assumptions” and “most valuable benefit” are defined in
C., below.

A. Category of designated benefit (see 29 CFR § 4050.5)
Determine the category of the Missing Participant’s designated benefit from the following list:
(1) Mandatory lump sum. The terms of the plan require an
automatic cash out of this Missing Participant. The mandatory lump sum amount must be no greater than the plan’s
cash out limit for de minimis benefit amounts, which may
not exceed the dollar limit under § 411(a)(11) of the Code
(currently $5,000). This category must not be checked if
the amount is greater than the plan’s cash out limit.

(4) Elective lump sum. The designated benefit amount
is the greater of the amounts determined under B.(1),
Mandatory lump sum, or B.(3), No lump sum.
C. Definitions for calculation of designated benefit
(see 29 CFR §§ 4050.2 and 4050.5(b)(1))
(1) Missing participant annuity assumptions.
“Missing participant annuity assumptions” means the
interest rate assumptions and actuarial methods for
valuing benefits under 29 CFR § 4044.52 applied--

(2) De minimis lump sum. The terms of the plan do not
require an automatic cash out of this Missing Participant,
the amount is $5,000 or less when calculated under B.(2)
below, and the benefit was not in pay status as of the
deemed distribution date. This category must not be
checked if the amount exceeds $5000.

(a) as if the deemed distribution date were the
termination date;
(b) using mortality rates that are a fixed blend
of 50 percent of the healthy male mortality rates
in § 4044.53(c)(1) and 50 percent of the healthy
female mortality rates in 29 CFR § 4044.53(c)
(2);

(3) No lump sum. The terms of the plan require that only
an annuity may be paid for this Missing Participant.
(4) Elective lump sum. The benefit of this Missing Participant is not described in the first three categories.
Note: If the designated benefit category includes any
amount attributable to mandatory employee contributions, check the designated benefit category applicable
to the whole accrued benefit - do not check category
4 (Elective lump sum) merely because the participant
may choose to withdraw mandatory employee contributions in a lump sum.

(c) without using the expected retirement age
assumptions in 29 CFR §§  4044.55 through
4044.57;
(d) without making the adjustment for expenses
provided for in 29 CFR § 4044.52(d); and
(e) by adding $300, as an adjustment (loading)
for expenses, if the missing participant’s designated benefit without this adjustment is greater
than $5,000.

B. Amount of designated benefit (see 29 CFR
§§ 4050.5 and 4050.12(c))
8

Schedule MP
(2) Missing participant lump sum assumptions.
“Missing participant lump sum assumptions” means
the interest rate and mortality assumptions and actuarial methods for determining the lump sum value of
a benefit under 29 CFR § 4022.7(d), applied--

(2) Interest credited on those contributions to the deemed
distribution date (see 29 CFR § 4050.12(c)(1)).
(3) The total of (1) and (2).
Note: The designated benefit amount reported in item 3a
must include, and be no less than, the amount of mandatory employee contributions plus interest to the deemed
distribution date. The amount entered in item 3a must
not be less than the amount in 3a(3).

(a) as if the deemed distribution date were the
termination date; and
(b) without using the expected retirement age
assumptions in 29 CFR §§ 4044.55 through
4044.57.

Missed benefit payments: In determining the amount of
designated benefits, for any Missing Participant who was
in pay status at the deemed distribution date (see item
6 below), the designated benefit amount must include
payments that were due before the deemed distribution
date but that were not made, with interest through the
deemed distribution date. That is, the amount entered
in 3a must include the amount entered in the last line of
item 6a below.

(3) Most valuable benefit.
(a) Benefit in pay status - For a missing participant whose benefit is in pay status as of the
deemed distribution date, the most valuable
benefit is the pay status benefit.
(b) Benefit not in pay status - For a missing participant whose benefit is not in pay status as of
the deemed distribution date, the most valuable
benefit is the benefit payable at the age on or after
the deemed distribution date (beginning with the
participant’s earliest early retirement age and
ending with the participant’s normal retirement
age) for which the present value as of the deemed
distribution date is the greatest. The present value
as of the deemed distribution date with respect to
any age is determined by multiplying:

3b “Other amounts due” are (1) voluntary employee
contributions (and earnings thereon) as defined in
29 CFR § 4050.12(c)(2)(i) and (ii); and (2) residual assets,
as determined under 29 CFR § 4050.12(d). If no voluntary
employee contributions or residual assets are due, enter
zero; do not leave blank.
(1) Voluntary employee contributions and earnings

(i) the monthly (or other periodic) benefit payable under the plan; by

(a) Voluntary employee contributions held in a separate account.

(ii) the present value (determined as of the
deemed distribution date using the missing participant annuity assumptions) of a $1 monthly
(or other periodic) annuity beginning at the applicable age.

(b) Earnings credited on contributions in (a) to the
date sent to PBGC.
(c) Total of (a) and (b).
(d) If the amount entered in (c) is not zero, enter the
date voluntary contributions sent to PBGC (see 29
CFR § 4050.12(c)(2)(i) and (ii)).

Note: See Appendix A for examples of the designated
benefit categories and calculations of the designated
benefit amount.

(2) Residual assets and earnings
(a) The amount, if any, of residual assets due to PBGC
based on a Missing Participant’s share of residual assets (in accordance with section 4044(d) of ERISA).

Pages 2 and 3 of Attachment B: Enter the Missing Participant’s Social Security Number at the top of each page
in the space provided.
3a

(b) Earnings on residual assets to the date you pay
PBGC (see 29 CFR § 4050.12(d)).
(c) Total of (a) and (b).

Enter amount of designated benefits.

(d) If the amount entered in (c) is not zero, enter the
date residual assets sent to PBGC.

Mandatory employee contributions: Is any part of the
Missing Participant’s designated benefit amount attributable to mandatory employee contributions? If “Yes,”
complete (1)-(3) below:
(1) Mandatory employee contributions that fund a portion of the Missing Participant’s accrued benefit under
the plan,

(3) Total other amounts, if any, due to PBGC (line (1)(c)
+ line (2)(c))
3c

9

Total amount due to PBGC (line 3a + line 3b(3))

Schedule MP
4a Enter the participant’s earliest retirement date (or the
deemed distribution date, if later).

Note: You must pay the total amount due for the Missing
Participant to PBGC, without any reduction for the 20%
tax withholding, even if 20% tax withholding has already
been paid to the Internal Revenue Service for the benefit.

4b

Note: Complete item 4, item 5 or item 6 below (complete only one):

If you checked category 1 (Mandatory Lump Sum) in item
3.A (Category of Designated Benefit) above, do not
complete 4c-4e; go to item 7.

For a Missing Participant who is a participant and
whose benefit was not in pay status as of the deemed
distribution date → Complete item 4
For a Missing Participant who is a beneficiary (including a spouse or alternate payee) and whose benefit was
not in pay status as of the deemed distribution date →
Complete item 5

4c

If applicable, check whether the participant’s last-known
spouse consented to the participant’s waiver of the plan’s
QPSA. If “Yes” is checked, attach a copy of the waiver.

4d

If applicable, enter the participant’s last-known spouse’s
earliest possible QPSA annuity starting date under the
plan (or the deemed distribution date, if later). Enter the
deemed distribution date if the QPSA is payable immediately upon the participant’s death.

For a Missing Participant whose benefit was in pay
status as of the deemed distribution date → Complete
item 6

4e Enter Codes from the Table of Plan Benefit Forms on
page 11 which describes the automatic annuity format
that would be payable with respect to the participant.
Regardless of the participant’s last-known marital
status, provide a Code for the automatic annuity form
for a married participant, 4e(1), and for an unmarried
participant, 4e(2).

Note: A Missing Participant’s benefit is in pay status
as of the deemed distribution date if, as of that date,
the plan administrator has made or (except for administrative delay or a waiting period) would have made
one or more
benefit payments. In addition, the benefit of a Missing Participant who is a beneficiary is considered to
be in pay status if (1) the participant from whom the
beneficiary’s benefit was derived went into pay status
on or before the deemed distribution date or (2) payments to the beneficiary have commenced or would
have commenced automatically without an election
on or before that date.

If you entered Codes 2 – 6, or 10, provide the information requested for that Code (if Code 10 entered, describe
the form).
5

In addition, if the Missing Participant is an alternate
payee under a QDRO that required benefits to commence concurrent with the participant’s benefits, the
benefit is in pay status if the participant was in pay
status as of the
deemed distribution date. If the Missing Participant is
an alternate payee who is entitled to commence benefits upon his or her own election, the benefit is in pay
status if, as of the deemed distribution date, the plan
administrator has made or (except for administrative
delay or a waiting period) would have made one or
more benefit payments.
4

Missing Participant Who is a Participant and Whose
Benefit Was Not in Pay Status

Complete this item only if the Missing Participant is a
participant whose benefit was not in pay status as of the
deemed distribution date.

If applicable, enter the participant’s last-known spouse’s
name and Social Security Number; otherwise enter
“N/A.”

Missing Participant Who Is a Beneficiary (including
a participant’s spouse or alternate payee) and Whose
Benefit Was Not in Pay Status
Complete this item only if the Missing Participant is a
beneficiary, and the beneficiary’s benefit was not in pay
status as of the deemed distribution date.

5a Enter a code from the Table of Plan Benefit Forms on
page 11 that describes the form of benefit to which the
beneficiary is entitled.

10

If you entered Code 2 -- 6, or 10, provide the information
requested for that Code (if Code 10 entered, describe the
form).

5b

Enter the earliest date the beneficiary could commence
receiving benefits (or the deemed distribution date, if
later).

6

Missing Participant Who Was in Pay Status

Complete this item only if the Missing Participant was in

Schedule MP
pay status as of the deemed distribution date.

6a Enter a Code from the Table of Plan Benefit Forms on
page 11 that describes the form of benefit that was in
pay status. If you entered Code 2 -- 8, or 10, provide the
information requested for that Code (if Code 10 entered,
describe the form). In addition, provide, as applicable,
the following information:
•
•
•
•

the date if tbe first missed payment:
the amount of the first missed payment;
the plan interest rate for missed payments; and
payments that were due before the deemed distribution
date but that were not made, with interest through the
deemed distribution date.

6b

If available, the full name(s) of the Missing Participant’s
beneficiaries. Attach a copy of the beneficiary designation
form, if available.

7

Enter check marks for all documents which are
attached.

11

Table of Plan Benefit Forms

Table of Plan Benefit Forms
Benefit
Form Code

Benefit Form Applicable to Missing Participant

1

Life annuity

2

Annuity certain

3

Annuity certain and continuous

4

Temporary life annuity

5

Joint and survivor annuity (contingent basis) thereafter

6

Annuity certain and joint and survivor (contingent basis) thereafter

7

Single life cash refund annuity

8

Installment refund annuity

9

Single sum

10

Other benefit form - Use the space provided on Attachment B to describe the benefit form that is payable with respect to the Missing Participant.

Include, as applicable:
•
•
•
•

the percentage of the Missing Participant’s monthly benefit amount that is payable to each
beneficiary upon the Missing Participant’s death,
the period during which the Missing Participant’s benefit is payable,
the period during which each beneficiary’s benefit is payable, and
any other provisions that distinguish the benefit form. For example, in the case of a step-down
benefit, state when and by how much the benefit is reduced.

12

Appendix A
APPENDIX A - Examples of Designated Benefit Determinations
Examples of Designated Benefit Determinations for Missing Participants under § 4050.5 in plans with deemed distribution dates
on and after February 27, 2007. The calculation of the designated benefit is illustrated by the following examples:
Example 1.a. - $5,000 cash out limit. Plan A provides that any participant whose benefit has a value at distribution of $5,000
or less will be paid a lump sum, and that no other lump sums will be paid. P, Q, and R are missing participants.
(1) As of the deemed distribution date, the value of P’s benefit is $4,000 under Plan A’s assumptions. Under § 4050.5(a)(1),
the plan administrator pays PBGC $4,000 as P’s designated benefit.
(2) As of the deemed distribution date, the value of Q’s benefit is $5,200 under Plan A’s assumptions and $4,700 based
on PBGC’s missing participant lump sum assumptions and the most valuable benefit. Under § 4050.5(a)(2), the plan
administrator pays PBGC $4,700 as Q’s designated benefit.
(3) As of the deemed distribution date, the value of R’s benefit is $5,500 under Plan A’s assumptions, $5,100 based on
PBGC’s missing participant lump sum assumptions and the most valuable benefit, and $5,400 based on PBGC’s missing
participant annuity assumptions (which includes the $300 loading) and the most valuable benefit. Under § 4050.5(a)(3),
the plan administrator pays PBGC $5,400 as R’s designated benefit.
Example 1.b. - $3,500 cash out limit. Plan A provides that any participant whose benefit has a value at distribution of $3,500
or less will be paid a lump sum, and that no other lump sums will be paid. P, Q, and R are missing participants.
(1) As of the deemed distribution date, the value of P’s benefit is $3,000 under Plan A’s assumptions. Under § 4050.5(a)(1),
the plan administrator pays PBGC $3,000 as P’s designated benefit.
(2) As of the deemed distribution date, the value of Q’s benefit is $3,600 under Plan A’s assumptions and $4,700 based
on PBGC’s missing participant lump sum assumptions and the most valuable benefit. Under § 4050.5(a)(2), the plan
administrator pays PBGC $4,700 as Q’s designated benefit.
(3) As of the deemed distribution date, the value of R’s benefit is $3,600 under Plan A’s assumptions, $5,100 based on
PBGC’s missing participant lump sum assumptions and the most valuable benefit, and $4,950 based on PBGC’s missing participant annuity assumptions (which does not include the $300 loading) and the most valuable benefit. Under
§ 4050.5(a)(3), the plan administrator pays PBGC $4,950 as R’s designated benefit.
Example 2 - Annuity assumptions. Plan B provides for a normal retirement age of 65 and permits early commencement of benefits at any age between 60 and 65, with benefits reduced by 5 percent for each year before age 65 that the benefit begins. The
qualified joint and 50 percent survivor annuity payable under the terms of the plan requires in all cases a 16 percent reduction
in the benefit otherwise payable. The plan does not provide for elective lump sums.
(1) M is a missing participant who separated from service under Plan B with a deferred vested benefit. M is age 50 at the
deemed distribution date, which is in May 2007, and has a normal retirement benefit of $1,000 per month payable at age
65 in the form of a single life annuity. M’s benefit as of the deemed distribution date has a value greater than $5,000 using either plan assumptions or PBGC’s missing participant lump sum assumptions. Accordingly, M’s designated benefit
is to be determined under § 4050.5(a)(3).
(2) For purposes of determining M’s designated benefit, M is assumed to be married to a spouse who is also age 50 on the
deemed distribution date. M’s monthly benefit in the form of the qualified joint and survivor annuity under the plan
varies from $840 at age 65 (the normal retirement age) ($1,000 x (1-0.16)) to $630 at age 60 (the earliest retirement
age) ($1,000 x (1-(5 x 0.05)) x (1-0.16)).
(3) Under § 4050.5(a)(3), M’s benefit is to be valued using PBGC’s missing participant annuity assumptions. The select
and ultimate interest rates on Plan B’s deemed distribution date are 5.20 percent for the first 20 years and 4.87 percent
thereafter. Using these rates and the blended mortality table described in paragraph (2) of the definition of “missing

13

Appendix A

participant annuity assumptions” in § 4050.2, the plan administrator determines that the benefit commencing at age
60 is the most valuable benefit (i.e., the benefit at age 60 is more valuable than the benefit at ages 61, 62, 63, 64 or
65). The present value as of the deemed distribution date of each dollar of annual benefit (payable monthly as a joint
and 50 percent survivor annuity) is $8.4632 if the benefit begins at age 60. (Because a new spouse may succeed to the
survivor benefit, the mortality of the spouse during the deferral period is ignored.) Thus, without adjustment (loading)
for expenses, the value of the benefit beginning at age 60 is $63,982 (12 x $630 x 8.4632). The designated benefit is
equal to this value plus an expense adjustment of $300, or a total of $64,282.

14