Missing Participants

This package contains:
Form MP-100, Schedule A, and Schedule B

Missing Participants Program
Filing Instructions
for
PBGC-insured Single-Employer Defined Benefit Plans
Terminating on or after January 1, 2018

Table of Contents
Overview............................................................................................................................................... 1

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What, How, and When to File............................................................................................................................ 3
........................

Determining Benefit Transfer Amounts .................................................................................................................. 5
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Line-by-Line Instructions for Completing Forms and Related Schedules
•

Form MP-100 (Plan Information) ............................................................................................... 7

•

Schedule A (Individual Information – Annuity Purchases) .......................................................... 10

•

Schedule B (Individual Information – Transfers to PBGC) ........................................................... 12

Appendices
•

Appendix 1 – Defined Terms .................................................................................................... 15

•

Appendix 2 – Diligent Search Requirement ................................................................................17

•

Appendix 3 – Accumulating Back Payments ...............................................................................19

•

Appendix 4 – Common Filing Errors ............................................................................................ 20

•

Appendix 5 – Paperwork Reduction Act Notice ..........................................................................21

Form MP-100 instructions

Overview
Introduction
The goal of PBGC’s Missing Participants Program is to connect missing participants with their benefits from
plans that terminated and closed out. PBGC does this by searching for participants and beneficiaries who
could not be located when their plans ended and paying their benefits when found, or, where the plan
purchases an annuity from an insurance company for the missing participant, by providing contact
information for the applicable insurer to the found participant or beneficiary.
The program covers PBGC-insured single-employer defined benefit (DB) plans terminated in a standard
termination or in a sufficient distress termination (where the plan was sufficient for all guaranteed
benefits) and other types of terminated retirement plans, including multiemployer DB plans, small
professional service DB plans, and defined contribution plans.
Although the Missing Participants Program is voluntary for some eligible retirement plans, submission of
information and/or benefits for a missing participant in a terminated PBGC-insured single-employer DB
plan is required by section 4050 of the Employee Retirement Income Security Act of 1974 (ERISA) and
PBGC’s Missing Participants Regulations (29 CFR Part 4050). These forms and instructions apply to such
plans unless the plan terminated before 2018. Instructions and forms for the other types of retirement plans
covered by PBGC’s Missing Participants Program and for PBGC-covered DB plans that terminated before
2018 can be found on PBGC’s Missing Participants Program webpage.
Terminology
Although the program is referred to as the Missing Participants Program, it covers beneficiaries as well as
plan participants. Throughout these instructions we use the term missing distributee when referring to
anyone covered by the program (i.e., a participant or a beneficiary). The term participant is used both
when referring to the overall program and when referring to an individual who was a participant in the
plan.
Appendix 1 provides definitions for terms used throughout these instructions. In general, defined terms
are capitalized to signal the reader to refer to Appendix 1 for more information. The convention of
capitalizing the defined terms is not followed for a few frequently-used defined terms (e.g., “we,” “you,”
“participant,” “distributee”).
What’s New
The current filing requirements are almost identical to the prior filing requirements. Key changes
include:
•

Filings with more than five missing distributees – If there are more than five missing distributees,
information about those missing individuals (i.e., information that gets reported on Schedule A or B,
whichever is applicable) must be reported in a spreadsheet format. Plan-related information is still
reported on a form. See the “How to File” section for more information.

•

Definition of De Minimis – The threshold for a benefit to be considered De Minimis, which affects
the calculation of the Benefit Transfer Amount and whether annuity information must be reported
on Schedule B, has changed with respect to plans that terminated on or after January 1, 2024. See
Appendix 1 for more information.

•

Default beneficiary provision – A new question has been added to Schedule B asking if the plan has a
provision describing who is entitled to receive benefits in the event benefits are owed, but the

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Overview
participant dies with no valid beneficiary designation on file.
•

Common filing errors – We have added a new appendix containing details about common filing
errors. We encourage you to review this information before submitting your filing. We’ve also
added an overview of those common errors at the end of this section.

Who must file
The plan administrator must submit this form (and related schedules and attachments) if:
•

The plan is terminating (i.e., closing out) under PBGC’s standard or distress termination
programs 1, and
P 0F

•

The plan cannot distribute or transfer all assets because some distributees are missing.

Who counts as missing
In general, an individual is considered missing if, when the plan closes out, the plan doesn’t know the
individual’s location (e.g., if a notice from the plan is returned as undeliverable). For purposes of these
instructions, we use the term “Unlocatable” to describe a missing distributee in this situation. 2
An individual is also considered missing if:
•

The individual’s benefit was subject to a mandatory cash-out under the plan’s terms and the
individual did not return the necessary paperwork providing instructions about how the payment
should be made (e.g., by check or as a direct rollover to an IRA); or

•

The individual did not accept a lump sum payment, whether elected voluntarily or subject to
mandatory cash-out (see “Unaccepted lump sum payments” below).

We use the term “Unresponsive” to describe a missing distributee in either of the two situations noted
immediately above. Note that a missing distributee may be both “Unlocatable” and “Unresponsive.”

1

2

Plans closing out in conjunction with a distress termination use this program only if the plan is sufficient for all
guaranteed benefits.
There is a requirement to do a Diligent Search in an attempt to locate these individuals. See Appendix 2 for
information about the Diligent Search requirements.

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Overview
Unaccepted lump sum payments issued in conjunction with the plan’s termination
If a check issued to a distributee by the plan in conjunction with the plan’s termination remains uncashed
by the “cash-by” date on the check or in an accompanying notice, e.g., a date prescribed by the bank or
the plan, the lump sum payment is considered unaccepted if the check is not cashed by that date. This
“cash-by” date must be at least 45 days after the check is issued. If there is no prescribed “cash-by” date,
then the lump sum is considered unaccepted if it is not cashed by the check’s stale date. 3
Obligation before filing
You must conduct a Diligent Search in an attempt to find Unlocatable distributees before reporting
them as missing. For information about the Diligent Search requirements, see § 4050.104 of PBGC’s
Missing Participants regulations and Appendix 2 of these instructions.
Transferring Benefits vs. Reporting Annuity Purchase Information
For each missing distributee, the plan must either:
•

Transfer the value of the distributee’s benefit to PBGC, or

•

Purchase an annuity from a private insurer in the distributee’s name and provide PBGC with the
information necessary to connect the individual with that insurer.

Administrative Fee
PBGC charges a one-time $35 administrative fee with respect to each missing distributee for whom the
plan transfers a payment obligation of more than $250 to PBGC. No fees are charged for individuals
whom the plan:
•

transfers a payment obligation of $250 or less to PBGC, or

•

purchases an annuity from a private insurer.

Contacting PBGC
If you have questions about how to complete a Missing Participants Filing for a PBGC-insured singleemployer plan, contact PBGC’s Standard Termination Compliance Division:
•

By email: [email protected]

•

By phone: (800) 736-2444. Select option 3. If you are deaf, hard of hearing, or have a speech disability, dial
7-1-1 to access telecommunications relay services.

3

A check’s stale date is typically six months after the check’s payment date. See § 4-404 of the Uniform Commercial
Code. Note that this date may vary by state.

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Overview
Common Filing Errors
•

Deceased participants — In situations where the missing distributee is a beneficiary:
‒ Not providing the required attachment, and/or
‒ Reporting the participant’s name and Social Security Number (SSN) on Schedule A or B
(whichever is applicable) instead of the beneficiary’s name and SSN.

•

Uncashed checks — In situations where the distributee is considered missing because they
failed to cash a distribution check issued in conjunction with the plan’s termination,
transferring the balance net of the amount withheld for taxes.

Appendix 4 provides detailed information about these errors.

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What, How, and When to File
What to file
A Missing Participants Filing includes Form MP-100 and applicable schedules as summarized below:
Form/Schedule

Type of information

Form MP-100

Plan information

Schedule A

Individual information about annuity purchases

Schedule B

Individual information about transfers to PBGC

With respect to Form MP-100, you may:
•

Enter data directly into a PDF fillable/printable version of the form, or

•

Print a blank pdf version of the form and applicable schedule and enter the data by hand.

With respect to Schedules A and B:
•

If you are reporting information for more than five missing distributees on either Schedule, the
required information must be reported in a spreadsheet format (i.e., the information for each missing
distributee is reported in a separate row and each required data element is reported in a separate
column). The spreadsheet is submitted as an attachment to the filing.
A sample spreadsheet that may be used for this purpose is available on PBGC’s website. The
spreadsheet is set up so that each required data element is reported in a particular cell and it also
includes space for additional attachment information that is required. In addition, the spreadsheet
can be used to calculate totals that need to be reported on Form MP-100 (e.g., number of
individuals, total transfer amount).

•

If you are reporting information for fewer than six missing distributees on either Schedule, you may
report the individual information:
‒

In a spreadsheet format (see above), or

‒

Directly on the “form-version” of the applicable Schedule(s). With this approach, you may
enter data directly into a PDF fillable/printable version of the form or print a blank pdf version
of the form and applicable schedule and enter the data by hand.
Although the spreadsheet format is not required for these filings, you may find it useful
because a spreadsheet can be used to calculate totals that you will need to report on Form
MP-100 (e.g., number of individuals, total transfer amount).

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What, How, and When to File
Before filing, the Plan Administrator must sign and date Form MP-100. You may submit the signed filing by
email, U.S. mail or a commercial delivery service.
To file by email, scan a signed copy of Form MP-100 and send the complete Missing Participants
Filing (Form MP-100, applicable schedules and any required attachments) to [email protected] . If
you are reporting individual-specific information in a spreadsheet using the template posted on
PBGC’s website (as opposed to directly on the Schedule A and/or B), be sure to attach that
spreadsheet as well.

•

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For the security of your data, PBGC recommends submitting your filing using PBGC | Powered By
LeapFILE or password protecting your files and sending the password separately.
To file by mail or a commercial delivery service, send the complete filing to:

•

Pension Benefit Guaranty Corporation
Standard Termination Compliance Division
Processing and Technical Assistance Branch
445 12th Street SW
Washington, DC 20024-2101
Regardless of how you submit your Missing Participants Filing, PBGC requests you include the
Post-Distribution Certification (Form 501 or 602, whichever is applicable) in the same submission.
How to send payment
If you are required to submit payment as part of the filing, we encourage you to send funds electronically
via www.pay.gov , a free and user-friendly Federal website from which you can make secure electronic
payments directly to many Federal Agencies, including PBGC. Alternatively, you may send payment by
electronic funds transfer (ACH or Fedwire) or paper check.
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See the “ Payment Instructions ” section of the Missing Participants Program webpage for additional
information about payment options, including addresses and information to be included with the
payment.
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When to file
The date for submitting a Missing Participants Filing, and for payment of any monies owed to PBGC, is
generally the same as the date for filing the Post-Distribution Certification 4 as part of a standard or
distress termination (i.e., for a standard termination, within 30 days after the last distribution date for
any affected party or within 60 if a timely email certification was sent).

4

Forms 501 and 602 for standard and sufficient distress terminations, respectively.

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What, How, and When to File
In some cases, a later due date applies as explained below:
• Residual Assets — If, after the satisfaction of all plan benefits through priority category 6, 5 residual assets
remain and are owed to one or more missing distributees, a Missing Participants Filing must be amended
(or in some cases, submitted for the first time) by the 30th day after the date on which all residual
assets have been distributed to individuals who are not missing.
P4F

• PBGC Audit of Plan Termination — If, as the result of a plan termination audit, it is discovered that
amounts are owed to one or more missing distributees, a Missing Participants Filing must be amended (or
in some cases, submitted for the first time) by the date specified by PBGC in connection with the audit,
unless PBGC grants an extension.
• Other — If, after submitting a Missing Participants Filing, you discover that previously reported
information is incorrect or incomplete, you must submit an amended filing as soon as practicable after
discovering the issue.
Amending Filings
If, after submitting a Missing Participants Filing, you discover that it is incorrect or incomplete, you must
submit an amended filing.
If, as a result of an amended filing, additional money must be transferred to PBGC, a late payment charge
will be owed if the transfer is made more than 90 days after the Benefit Determination Date.
Reminder – If you need to amend a Missing Participants Filing for any reason, the corresponding PostDistribution Certification (e.g., Form 501 or 602) must also be amended.
.

5

See 29 CFR § 4044.16

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Determining Benefit Transfer Amounts
This section provides guidance on how to determine the amount to be paid to PBGC on behalf of a missing
distributee for whom the obligation for paying the benefit is transferred to PBGC, instead of to a private
insurer. This amount is called the “Benefit Transfer Amount.”
Determining a Distributee’s Benefit Transfer Amount
The Benefit Transfer Amount is generally the present value of a distributee’s accrued benefit as of the
Benefit Determination Date. In some cases, it also includes the accumulated value of payments that
should have been made before that date.
The assumptions and methods used to calculate the present value vary depending upon whether the
distributee would have, or could have, received a lump sum had the distributee not been missing when
the plan terminated. Depending upon the answer, each distributee falls into one of the following three
categories:
•

Category 1 – The participant’s benefit was De Minimis and would have been distributed as a lump sum
without consent. 6

•

Category 2 – The participant’s benefit was not De Minimis and the participant would not have been
eligible to elect to receive a lump sum in lieu of an annuity.

•

Category 3 – The participant’s benefit was not De Minimis and the participant would have been
eligible to elect to receive a lump sum (subject to spousal consent rules, if married) in lieu of an
annuity.

The rules applicable to each category follow:
Category 1 (De Minimis benefit)
The Benefit Transfer Amount for a Category 1 participant is determined using the assumptions and
methods the plan uses for determining lump sums and, if applicable, established plan practice with
respect to missed back payments. Thus, in general the Benefit Transfer Amount is the amount the plan
would have provided to the participant had the participant not been missing (before reflecting tax
withholding, etc.).
Category 2 (Non De Minimis benefit/No lump sum option)
The Benefit Transfer Amount for a Category 2 participant is the present value of benefits payable on or
after the Benefit Determination Date determined using PBGC Missing Participant Assumptions, plus, if
applicable, the accumulated value of certain back payments (see next page).
•

Present value determined using PBGC Missing Participant Assumptions - The PBGC Missing Participant
Assumptions are a simplified version of the assumptions used to value benefits to be paid as annuities
in PBGC’s trusteed plans (i.e., 29 CFR § 4044 assumptions). PBGC has developed a user-friendly
spreadsheet that can be used for this portion of the calculation. The spreadsheet is called the
“ Category 2 PV Calculator ” and is available on PBGC’s Missing Participants Program webpage.
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The threshold under section 203(e) of ERISA, commonly called the “automatic cash-out” or “mandatory cash-out” threshold is
$7,000 if the Benefit Determination Date is after December 31, 2023. Otherwise, it is $5,000. It’s possible that a plan provides
for a lower threshold or that it has no provision for automatic cash-outs. If either situation applies, when determining to which
category a Missing Participant belongs, the plan is treated as if it provided for automatic cash-outs of benefits that do not
exceed the maximum allowable threshold. If the plan does not specify assumptions or methods to be used for purposes of
determining lump sums, any assumptions and methods that would be permitted under section 205(g) of ERISA or section
417(e) of the Code may be used for this purpose.

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Determining Benefit Transfer Amounts
A summary of how the PBGC Missing Participant Assumptions compare to § 4044 assumptions is
provided below:
PBGC Missing Participant Assumptions
Interest

Mortality

Same as for § 4044 calculations except that the § 4044 factors change
monthly, and for purposes of determining the Benefit Transfer Amount,
the factors in effect for January are used for the entire calendar year.
A unisex version of the mortality table used for § 4044 purposes . The
unisex table is created by taking a 50/50 blend of the healthy male and
female tables.
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Assumed retirement age If the missing distributee is a participant whose Normal Retirement Date is:
•

After the Benefit Determination Date, the § 4044 expected
retirement age (“XRA”) determined using the “high” table.

•

On or before the Benefit Determination Date, age at Normal
Retirement Date.

If the missing distributee is a beneficiary, the later of:

•

•

The Benefit Determination Date, or

•

The earliest date the beneficiary is allowed to start receiving
benefits (per plan provisions).

Form of payment to be
valued

Straight life annuity payable at the assumed retirement age.

Pre-retirement
death benefits

Disregarded

§ 4044 Expense Load

Disregarded

Accumulated value of certain back payments. This component of the Category 2 Benefit Transfer
Amount applies only if:
–

The Benefit Determination Date is after the missing participant’s Normal Retirement Date, or

–

The missing participant began receiving benefits before the Benefit Determination Date (i.e., the
missing participant was in Pay-Status).

Appendix 3 provides detailed information about how these calculations are done.
Category 3 (Non De Minimis benefit/Lump sum available)
The Benefit Transfer Amount for a Category 3 participant is whichever is greater:
–

The amount that would apply if the participant was in Category 1, or

–

The amount that would apply if the participant was in Category 2.

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Instructions for Form MP-100 (Plan Information)
Unless the instructions below indicate that an item may be omitted, all of the following information must
be reported. If you are filling out the form by hand, please print all information in uppercase.
Amended filings
When amending a Missing Participants Filing, Schedules A and B of the amended filing must contain
complete information for all missing distributees, including an amended filing code. For example, if
you report three individuals on the original Schedule B, and subsequently discover that:
•

One missing participant was inadvertently omitted, the Schedule B for the amended filing must
contain complete data on all four missing participants.

•

One previously reported participant is not entitled to a benefit, the Schedule B for the amended filing
must contain complete data on the other two missing participants.

If you are amending a filing for a post-2017 plan termination, check the box at the top of the form. If you
need to amend a filing for a plan that terminated before January 1, 2018, do not use this form. Rather,
use the pre-2018 forms available on PBGC’s website.
Part I — General Information
1 Plan information
a

Enter the complete name of the plan as it appears in the plan document.

b

Enter the Employer Identification Number and the plan number.

c

Enter the 8-digit PBGC case number. This number is provided by PBGC after receipt of the
Form 500 (Standard Termination Notice Single-Employer Plan Termination) or Form 600 (Distress
Termination Notice of Intent to Terminate) for the Plan.

d

Enter contact information (e.g., name, company, address, email, phone) for the person PBGC
should contact if we have questions about the filing. This could be the Plan Administrator, a
third-party administrator, etc.

2 Number of missing distributees. Enter the total number of missing distributees broken down into the
following categories:
a

Enter the number for whom an annuity was purchased (i.e., individuals reported on Schedule A).

b

Enter the number for whom benefits are being transferred to PBGC (i.e., individuals reported on
Schedule B) and provide a breakdown of those with Benefit Transfer Amounts above $250, and
those with Benefit Transfer Amounts of $250 or less.

c

Enter the total number of missing distributees.

3 Enter the Benefit Determination Date (mm/dd/yyyy). If you are not transferring any benefits to PBGC’s
Missing Participants Program, skip this item.

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Instructions for Form MP-100 (Plan Information)
4 Commercial locator service. If a commercial locator service was used in an attempt to locate missing
individuals, enter the name of such service. Otherwise, leave this item blank.
If this is an amended filing, complete item 5. Otherwise, skip to Part II.
5 Additional information re: amended filings.
If one or more individuals reported in the original filing is not reported in this amended filing, check
the “Yes” box. This could happen if, for example, you originally reported that an annuity had been
purchased for a missing individual, but later discovered that the individual received a lump sum and
that the annuity was purchased in error. Otherwise, check the “no” box.
Required attachment— If any previously reported individuals are no longer considered missing (i.e., if
you checked the “Yes” box), include an attachment, reporting each such individual’s name, social
security number, and whether the individual was previously reported on Schedule A or Schedule B.

Part II — Amounts due PBGC (enter amounts in dollars and cents)
6 Amounts owed to PBGC for missing distributees reported in this filing:
a

Enter the aggregate value of all Benefit Transfer Amounts. This is the sum of the amounts
reported in item 3 of Schedule B for each individual reported on a Schedule B.

b

Enter the aggregate administrative fee. The fee is $35 for each missing distributee reported on
Schedule B for whom the Benefit Transfer Amount exceeds $250. This is the sum of the amounts
reported in item 4 of each Schedule B. This is also the result you get if you multiply $35 by the
number reported in item 2b of Form MP-100.

c

Enter the aggregate late payment charge, if applicable. This is the sum of the amounts reported
in item 5b of each Schedule B.

d

Enter the sum of items 6a, 6b, and 6c above.

If this is an amended filing, complete item 7. Otherwise, skip to Part III.
7 Reconciliation
a

Previously paid amounts — Enter the amount previously sent to PBGC in conjunction with prior
filings for this plan.

b

Underpayment/(Overpayment) — Subtract item 7a from item 6d and enter the result. If the result
is greater than $0, this is the amount that must be sent to PBGC. If the result is negative, PBGC will
contact you to facilitate a refund of the overpayment.

8 Payment method. Check the applicable box to indicate the payment method.
Part III — Plan Administrator Certification
9 The information reported in this filing must be certified by the Plan Administrator. To do so, the
required identifying information (e.g., name of person certifying the filing and applicable contact
information) must be entered and the Plan Administrator must sign and date the filing.
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Instructions for Schedule A (Individual Information - Annuity Purchases)
You must complete Schedule A if annuities were purchased from a private insurer for any missing
distributees.
If you are:
•

Using a spreadsheet to report Schedule A information, complete item 1 of Schedule A, enter “See
attached” in item 2a (the space provided for the name of the financial institution), and leave the
rest of the Schedule A blank.

•

Entering information into the pdf-fillable form version of Schedule A and need to report information
for more than two individuals, click the button labeled “Add another Schedule A.” 7

•

Entering information on a hard copy of the “form version” of Schedule A by hand:
‒

Print all information in uppercase, and

‒

If you need to report information for more than two individuals, use additional Schedules A,
number each one consecutively and report the total number of Schedules A in the space
provided at the top of the form. For example, if two Schedules A are needed, the top of the
first schedule should show: “This Schedule A is # 1 of 2.”

Unless the instructions below indicate that an item may be omitted, all of the following information
must be reported.
Part I — Plan/Insurance Company Information
1 Plan information — Enter the same information reported in items 1a-c of Form MP-100.
2 Insurance company information — Enter the applicable information about the insurer from which you
purchased the annuities.
Part II — Individuals for whom Annuities were Purchased
Enter applicable information for each missing distributee for whom an annuity was purchased from the
insurer reported in item 2.
If the participant is deceased (i.e., if the missing distributee is a beneficiary), the information reported
should relate to the beneficiary.
3 Missing distributee information— Enter the following information with respect to each missing
distributee.
a Identifying information — Enter the individual’s name, date of birth, and Social Security number.
If the insurer provided individual certificate numbers for each distributee, enter the individual’s
certificate number in the space provided. Otherwise, enter “N/A”.
b Last known address — Enter the individual’s last known address.
c Accrued benefit — Enter the individual’s accrued benefit.
PBGC intends to use the accrued benefit reported solely to prioritize its search efforts, so it is not
necessary to do additional calculations for purposes of reporting the benefit in a particular payment
form. Report whatever information is readily available. For example, you may report a lump sum
equivalent of the accrued benefit or the monthly benefit commencing at the later of the individual’s
7

The form version of Schedule A has room to report only two participants.

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Instructions for Schedule A (Individual Information - Annuity Purchases)
Normal Retirement Date or current age. No adjustment is needed if the amount reported as a
monthly annuity is in a form other than the plan’s normal form. Hybrid plans may report the
hypothetical account balance.
Check the applicable box to indicate whether the amount reported is a monthly benefit or a
“current value” (e.g., the lump sum equivalent of the accrued benefit, the hypothetical account
balance, etc.).
If this is an amended filing, complete item 4. Otherwise, leave this item blank.
4 Amended filing code — Enter the applicable code for each reported individual.
Code

Description

A

This individual was previously reported; none of the information related to this
distributee has changed since the most recently submitted filing.

B

This individual was previously reported; some or all of the information related to
this distributee has changed since the most recently submitted filing.

C

This individual was not previously reported.

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Instructions for Schedule B (Individual Information – Transfers to PBGC)
You must complete Schedule B if the obligation for paying benefits to any missing distributee is being
transferred to PBGC.
If you are:
•

Using a spreadsheet to report Schedule B information, complete item 1 of Schedule B, enter “See
attached” in item 2a (the space provided for the name of the financial institution), and leave the rest
of the Schedule B blank.

•

Entering information into the pdf-fillable form version of Schedule B and need to report information
for more than one individual, click the button labeled “Add another Schedule B.” 8

•

Entering information on a hard copy of the “form version” of Schedule B by hand:
‒

Print all information in uppercase, and

‒

If you need to report information for more than one individual, use additional Schedules B,
number each one consecutively and report the total number of Schedules B in the space
provided at the top of the form. For example, if three Schedules B are needed, the top of the
first schedule should show: “This Schedule B is # 1 of 3.”

Unless the instructions below indicate that an item may be omitted, all of the following information
must be reported.
Part I — Identifying Information
1 Plan information — Enter the same information reported in items 1a - c and item 3 of Form MP-100.
2 Missing distributee information —Enter the following information with respect to each missing
distributee.
If the participant is deceased (i.e., if the missing distributee is a beneficiary), the information
reported should relate to the beneficiary.
a - d Enter the name, date of birth, Social Security Number and last known address of each missing
distributee for whom a benefit is being transferred to PBGC.
e

Other name(s) ever used — If you are aware of other names this missing distributee has used,
enter that information here. This item may be left blank.

f

Type of missing distributee — If the missing distributee is the plan participant, check the
“Participant” box. Otherwise, check the “Beneficiary” box. Note that a separate attachment is
required if the answer is “Beneficiary” (see below).
Required attachment for Missing Distributees who are Beneficiaries – The following information
must be attached to the Schedule if a missing distributee is a beneficiary:

8

•

Identifying information about the plan and missing distributee (e.g., information reported in
items 1a – c and 2a – d, including applicable Schedule number).

•

Explanation of why this individual is entitled to benefits (e.g., surviving spouse, alternate
payee, other named beneficiary) and the name and Social Security Number of the relevant
participant (i.e., the individual who earned the benefits). If the relevant participant is
deceased, include the date of death.

The form version of Schedule B has room to report only one participant.

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Instructions for Schedule B (Individual Information – Transfers to PBGC)
•

Information about the benefit to which the beneficiary is entitled (e.g., amount, scheduled
commencement date, scheduled form of payment).

•

Information about any required benefit adjustments including adjustments for early or late
commencement.

•

Any other information that would be useful in determining the benefit to which the
beneficiary is entitled.

Attach any relevant documents (e.g., a copy of a QDRO, a beneficiary designation form, a plan
provision related to default beneficiaries for situations where no valid beneficiary designation form is
on file).
g

Check the applicable box to indicate whether the missing distributee received any benefit
payments from this plan before losing contact with the Plan. Note that a separate attachment is
required if the answer is “Yes” (see below).
Required attachment for “Pay-Status” Missing Distributees –The following information must
be attached to the Schedule:

h

•

Identifying information about the plan and missing distributee (e.g., information reported in
items 1a – c and 2a – d, including Schedule number, if applicable).

•

Benefit Information (monthly benefit amount, payment form selected, date benefits
commenced, date of last payment).

•

Any other information that would be useful in determining the benefit to which the
individual is entitled.

Check the applicable box to indicate whether any portion of the missing distributee’s benefit is
attributable to non-U.S.-source income. Note that a separate attachment is required if the
answer is “Yes” (see below).
There are different taxation and withholding rules for a distribution depending on whether the
payment is U.S. source or non-U.S. source income. For more information about determining the
source of pension payments, see Source of Income, Pension payments, in IRS Publication 515,
Withholding of Tax on Nonresident Aliens and Foreign Entities.
Required attachment where a portion of the benefit is treated as non-US-source income – The
following information must be attached to the Schedule:
•

Provide the method used for determining what portion of the distributee’s benefit is
attributable to non-U.S.-source income. The method used should be consistent with the
method prescribed by the IRS in Revenue Procedure 2004-37. If not, describe the method
that was used.

•

Identify what portion of the distributee’s benefit is treated as U.S.-source income.

•

Identify what portion of the distributee’s benefit is treated as non-U.S.-source income.

•

If the portion of the benefit treated as U.S.-source income is very low or zero percent,
explain why and provide additional information, such as:
o

The situs of the trust if it is not in the United States.

o

Any other information that would help explain why all or most of the benefit is treated as

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Instructions for Schedule B (Individual Information – Transfers to PBGC)
non-U.S.-source income.
o

i

Any information that would provide another reason why all or most of the benefit is nontaxable. For example, if the distributee is eligible for treaty benefits with respect to the
distribution, the applicable provision in the income tax treaty or related agreement under
which those benefits are claimed. (This includes a copy of a valid form W-8 BEN,
Certificate of Status of Beneficial Owner for United States Tax Withholding and Reporting,
if available.)

Check the applicable box to indicate whether any portion of the benefit due is attributable to
employee contributions. Note that a separate attachment is required if the answer is “Yes” (see
below).
Required attachment for benefits partially funded with employee contributions — The
following information must be attached to the Schedule:

j

•

Identifying information about the plan and missing distributee (e.g., information reported in
items 1a – c and 2a – d, including Schedule number, if applicable).

•

Accumulated value of employee contributions, broken down into voluntary and mandatory
contributions. For this calculation, interest is credited at the rate prescribed by section
411(c) of the Internal Revenue Code (the Code).

•

Total amount of employee contributions, excluding interest, broken down into voluntary and
mandatory contributions.

•

Any other information that would be useful in determining the benefit to which the
individual is entitled.

Beneficiary information — Complete this item only if “Participant” is checked in item 2f.
(1) Default beneficiary provision — If the plan provides a rule regarding who is entitled to a
benefit in the event benefits are owed, but the participant dies with no valid beneficiary
designation on file, check the “Yes” box and attach a copy of the relevant plan provision 9.
Otherwise, check the “No” box.
If you check the “Yes” box and are filing more than one Schedules B, attaching one copy of
the relevant plan provision is sufficient.
(2) If the plan has a valid beneficiary designation form on file for this missing participant, check
the “Yes” box and attach a copy of the form. If the Plan does not have a valid beneficiary
designation form on file, check the “No” box. A beneficiary designation form is considered
valid for this purpose if it:
•

Includes the participant’s signature, and

•

In the case of a married participant who designated someone other than a spouse,
includes the spouse’s signed consent form witnessed by a notary.

If item 2j(2) is “yes,” complete items 2j(3) - 2j(5). Otherwise, skip to item 2k.
(3) - (5) Enter the applicable information about the beneficiary. If the beneficiary is not an

9

If the same provision applies to more than one participant reported on Schedule B, one attachment is sufficient.

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Instructions for Schedule B (Individual Information – Transfers to PBGC)
individual (e.g., a trust), leave the Social Security Number item blank.
If this is an amended filing, complete item 2k. Otherwise, skip to item 3.
k

Amended filing code — Enter the applicable code for each reported individual.
Code

Description

A

This individual was previously reported; none of the information related to this
distributee has changed since the most recently submitted filing.

B

This individual was previously reported; some, or all of the information related
to this distributee has changed since the most recently submitted filing.

C

This individual was not previously reported.

Part II — Amount Owed to PBGC (enter amounts in dollars and cents)
3 Enter the Benefit Transfer Amount (dollars and cents). For instructions on how to determine this
amount, see the section titled “Determining a Distributee’s Benefit Transfer Amount.”
4 Administrative fee — If item 3 is greater than $250.00, enter $35.00. Otherwise, enter $0.
5 Late payment charge
a

Late payment — A Benefit Transfer Amount (or portion thereof) is considered late if it is paid to
PBGC more than 90 days after the Benefit Determination Date. This could happen for a variety of
reasons (e.g., the plan discovers that a participant is missing several months after Form MP-100
was filed and thus amends the filing to report that participant). If any portion of the amount
entered in item 3 is (or will be) transferred to PBGC more than 90 days after the Benefit
Determination Date, enter that amount.

b

If there is a late payment, enter the applicable interest charge. Otherwise, leave this item blank.
Interest is determined using the Missing Participants Interest Rate and is accumulated from the
90 th day after the Benefit Determination Date through to the date the late payment is
transferred to PBGC. A historical listing of applicable interest rates is available on PBGC’s
Missing Participants Program webpage.
P

36T

36T

Part III— Missing Participant Benefit Information
Complete this part only if (1) the missing distributee is the plan participant, (2) the missing distributee has
yet to receive any plan benefits (i.e., 2g was answered “No”) and (3) the Benefit Transfer Amount reported in
item 3 is not De Minimis).
6 Lump sum eligibility — If the missing participant would have been eligible to elect a lump sum had the
participant not been missing, check the “Yes” box. Otherwise, check the “No” box.
7 Normal retirement date — Enter the missing participant’s normal retirement date or, if later, the date
the participant stopped accruing benefits.

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Instructions for Schedule B (Individual Information – Transfers to PBGC)
8 Annuity Information (enter amounts in dollars and cents)
a Annuity payable at Benefit Determination Date — Complete this item only if as of the Benefit
Determination Date the participant is over age 55, is eligible to commence benefits, and has not yet
reached Normal Retirement Age.
Enter the monthly straight life annuity payable starting at the Benefit Determination Date.
b Annuity payable at various possible benefit commencement dates – Enter the monthly straight life
annuity at each applicable age as explained below:
•

•

Ages 55-65 — In general, an amount must be entered for each of these possible commencement
dates, but there are some exceptions. Enter N/A for:
–

Ages before the participant would have been eligible to commence benefits.

–

Commencement dates in the past. For example, if the participant is age 58¾ on the Benefit
Determination Date, for the age-specific items, report amounts starting with age 59 and
enter N/A for ages 55 – 58.

–

Ages after the participant’s normal retirement age. For example, if the participant’s normal
retirement age is 62, enter N/A for ages 63, 64, and 65.

Normal Retirement Date — Enter the amount payable at the missing participant’s Normal
Retirement Date or, if later, the date the participant stopped accruing benefits. This amount
must be reported, even if the participant’s Normal Retirement Date was before the Benefit
Determination Date. In many cases, PBGC expects that this will be the same amount entered
for age 65.

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Appendix 1 — Defined Terms
The definitions shown below apply for purposes of PBGC’s Missing Participants Program, as it relates
to PBGC-covered single-employer DB plans. These terms may have different meanings for other
purposes. In general, the terms below are shown in capital letters throughout the instructions.
Beneficiary generally means a person designated by a pension plan participant, or by the plan's terms,
to receive some or all of the participant's pension benefits upon the participant's death or some other
event. An alternate payee under a Qualified Domestic Relations Order also is considered a beneficiary.
In some cases, a Beneficiary might be a trust or organization rather than an individual.
Benefit Determination Date means the date as of which the Benefit Transfer Amount is determined.
This date must be during the period the plan makes distributions pursuant to the close-out of the plan
to distributees who are not missing (i.e., on or after the first day such a distribution is made, but no
later than the last day such a distribution is made).
Benefit Transfer Amount means the single sum actuarial equivalent of the distributee’s accrued
benefit, including the value of back payments owed, if applicable, as of the Benefit Determination Date
for a missing distributee that is transferred to PBGC.
Close-Out or Close Out with respect to a plan means the process of the final distribution or transfer of
assets pursuant to the termination of the plan.
Commercial Locator Service means a business that holds itself out as a finder of lost persons for
compensation using information from a database maintained by a consumer reporting agency (as
defined in 15 U.S.C. section 1681a(f)).
De Minimis means a benefit with a value, determined using methods and assumptions the plan used
to determine lump sums, that does not exceed the amount under section 203(e)(1) of ERISA and
section 411(a)(11)(A) of the Code in effect as of the Benefit Determination Date (i.e., $7,000 if the
Benefit Determination Date is January 1, 2024 or later, otherwise $5,000). 10
Diligent Search means the process provided in 29 CFR § 4050.104, for attempting to locate
distributees. See Appendix 2 for a summary of that process.
Distributee means a participant or beneficiary entitled to a distribution under the plan pursuant to the
close-out of the plan.
Missing Participants Filing means, Form MP-100 and any applicable schedules and attachments.
Missing Participants Interest Rate means, for each month, the applicable federal mid-term rate (as
determined by the Secretary of the Treasury pursuant to section 1274(d)(1)(C)(ii) of the Code) for that
month, compounded monthly.
Normal Retirement Date means the normal retirement date for a participant under the terms of the
plan.
Notice of Intent to Terminate means the notice of a proposed termination of a single-employer plan
sent to plan participants, as required by section 4041(a)(2) of ERISA and 29 CFR § 4041.23 (in a
standard termination) or 29 CFR § 4041.43 (in a distress termination).
Participant means a person who earned a pension benefit under a pension plan.

10

In the case of a plan does not specify lump sum assumptions, any assumptions that would be permitted
under section 205(g) of ERISA or section 417(e) of the Code may be used for this purpose.

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Appendix 1 — Defined Terms
Pay-Status or Pay Status means being in, or having a benefit that has started, before the Benefit
Determination Date. A benefit that becomes payable to a participant at the participant’s Normal
Retirement Date before the Benefit Determination Date but that is not in fact paid is not a Pay-Status
benefit.
PBGC means the Pension Benefit Guaranty Corporation.
PBGC Missing Participant Assumptions means the actuarial assumptions used to determine the
Benefit Transfer Amount for a missing distributee meeting certain criteria. See section titled
“Determining a Distributee’s Benefit Transfer Amount” for information about what these assumptions
are and when they are used. See section 29 CFR § 4050.102 for a complete description of these
assumptions.
Plan Administrator means a plan administrator as defined in section 3(16)(A) of ERISA.
QDRO means a qualified domestic relations order as defined in section 206(d)(3) of ERISA and section
414(p) of the Code.
Unlocatable with respect to a missing distributee means that the plan does not know with reasonable
certainty the distributee’s location upon close out of the plan (e.g., a notice from the plan is returned
as undeliverable). Note that there is a requirement to do a Diligent Search in an effort to find these
participants before reporting them as missing.
Unresponsive with respect to a missing distributee means that when the plan closes out the
distributee either—
•

Was subject to mandatory cash-out under the plan’s terms and failed to submit the necessary
paperwork providing instructions about how the payment should be made (e.g., by check or as a
direct rollover to an IRA), or

•

Did not accept a lump sum payment (e.g., by not timely cashing a check).

See “Who Counts as Missing” in the Overview section for more information.
We or “us” refers to the Pension Benefit Guaranty Corporation.
You or “your” refers to the Plan Administrator.

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Appendix 2 — Diligent Search Requirement
When a diligent search is (or is not) required
You must conduct a diligent search in an attempt to find Unlocatable distributees before reporting
them as missing on close-out of the plan. For example, if the Notice of Intent to Terminate sent to a
distributee is returned as undeliverable, you must do a Diligent Search in an attempt to find a current
address. If the distributee is not located as a result of the Diligent Search, no further searching is
required; the distributee may be reported as missing.
You do not have to do a Diligent Search with respect to distributees considered missing solely because
they are Unresponsive. For example, if you have a current address for a distributee who, according to
plan terms is subject to mandatory cash-out, but the distributee fails to return the necessary
paperwork to facilitate the distribution, there is no need to do a Diligent Search.
Search methods
Plans may search for Unlocatable Missing Distributees however they like and, if successful, no
additional searching is required. However, before reporting an Unlocatable distributee as missing, a
Plan Administrator must have failed to locate the distributee using the following Diligent Search
procedures.
•

If the Missing Distributee’s accrued monthly benefit is greater than $50, the plan must use a
Commercial Locator Service to try to find the individual.

•

If the Missing Distributee’s accrued monthly benefit is $50 or less, to try to find the individual,
the plan may either:
–

Use a Commercial Locator Service, or

–

Do a “records search” (see below).

Regardless of the size of the benefit, if you use a Commercial Locator Service to try to find an
individual and that individual is not located, no further searching is required.
A records search means doing all of the following (to the extent reasonably feasible and affordable) in
an attempt to locate the distributee:
•

Using a free internet search such as a search engine, network database, public records database
(such as those for licenses, mortgages, and real estate taxes) and a “social media” website; and

•

Searching:
–

Plan records,

–

Records of any other retirement or welfare plan of the plan sponsor in which the distributee
participated, and

–

Plan sponsor records (e.g., payroll records).

If a beneficiary is identified from any of the searches, you must attempt to contact the
beneficiary.

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Appendix 2 — Diligent Search Requirement
As noted above, a records search is required only to the extent reasonably feasible and affordable. A
records search would be unaffordable if the cost of searching (including the value of labor) is more
than a reasonable fraction of the benefit owed. In no event would searching need to be pursued
beyond the point where the cost of the search equals the value of the benefit. A records search would
be unfeasible if, as a practical matter, it is prevented (e.g., confidentiality considerations that prevent
the disclosure of information).
Timing of Diligent Search
A Diligent Search for an Unlocatable distributee must be made within nine months before the Missing
Participants Filing is submitted.

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Appendix 3 — Accumulating Back Payments for Category 2 Calculations
As explained in the “Determining a Distributee’s Benefit Transfer Amount” section, for Category 2
calculations, the Benefit Transfer Amount includes the accumulated value of certain back payments if:
•

The individual’s Normal Retirement Date is before the Benefit Determination Date, or

•

The individual commenced benefits prior to losing contact with the plan.

This appendix provides information about which back payments are reflected in this calculation and
the assumptions used to determine the accumulated value. The methodology differs slightly
depending on which situations apply as shown below.
Missing Distributees with Normal Retirement Dates before the Benefit Determination Date
For a missing distributee whose Normal Retirement Date is before the Benefit Determination Date
(and who, as of the Benefit Determination Date, has not received any benefits), the calculation
represents the accumulated value (as of the Benefit Determination Date) of benefits the distributee
would have received had the distributee started receiving benefits on the distributee’s Normal
Retirement Date 11.
P8F

The calculation is done using the following assumptions:
•

Form of payment — Single life annuity paid monthly.

•

Interest rate for accumulating past “missed” payments — Missing Participants Interest Rate.

•

Survival — Distributee is still alive at the Benefit Determination Date.

•

Last “missed” payment — The month before the Benefit Determination Date.

An example of how this calculation is done and a historical listing of applicable interest rates is
available on PBGC’s Missing Participants Program webpage.
36T

36T

36T

36T

Distributees Who Started Receiving Benefits before the Benefit Determination Date
For a missing distributee who went into pay status before the Benefit Determination Date, the
calculation represents the accumulated value (as of the Benefit Determination Date) of benefits that
person should have received, but didn’t, based on the commencement date and form of payment
elected when the distributee first went into pay status.
This calculation is done using the following assumptions and information:
•

Form of payment — Form elected when distributee went into pay status.

•

Interest rate for accumulating past “missed” payments — Missing Participants Interest Rate.

•

Survival — Distributee is still alive at the Benefit Determination Date.

•

Last “missed” payment — The last payment due before the Benefit Determination Date.

11

In the event a non-pay-status missing participant accrued benefits after Normal Retirement Date, this
calculation is done as if the distributee started receiving benefits on the date benefit accruals ceased.

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Appendix 4 – Common Filing Errors
Deceased Participants/Missing Beneficiaries
Background
As explained in the Overview section, we use the term “missing distributee” when referring to anyone
covered by the program (i.e., a participant or a beneficiary). Thus, if the participant is deceased at the
time the plan terminates, the missing distributee is the individual (or entity) entitled to that
participant’s benefit (i.e., the beneficiary) and that beneficiary’s identifying information (e.g., name,
Social Security number) is reported on Schedule A or B, whichever is applicable.
In addition, when the missing distributee is a beneficiary, plan administrators are required to submit
additional information in an attachment (e.g., information about the deceased participant). See
instructions for Schedule B, line 2f.
Common filing errors
In situations where the missing distributee is a beneficiary, some filers:
• Fail to include the required attachment, and/or
• Mistakenly report the participant’s identifying information.
Be sure to report the beneficiary’s identifying information on Schedule A or B, whichever is applicable.
If you know the participant is deceased, but are unsure who the beneficiary is, enter “see attachment”
in the space provided and include, on the required attachment, any information you think might be
helpful in locating the beneficiary. Similarly, if there are multiple beneficiaries attached to the same
benefit, enter “see attachment” in the space provided and provide the information in the attachment.
Uncashed checks issued in conjunction with the plan’s termination
Background
As explained in the Overview section, one of the ways a participant is considered missing is if, when
the plan closes out, the participant did not accept a lump sum payment, such as a check issued by the
plan in conjunction with the plan’s termination. In situations where the plan is transferring the
amount owed to a participant who is considered missing because they did not cash a distribution
check that was sent in conjunction with the plan termination, the transfer amount must reflect the
total value of the benefit without any reduction for tax withholding.
Common filing error
PBGC has received several filings where the amount transferred is net of tax withholding (e.g., the
face value of an uncashed check).

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Appendix 5 — Paperwork Reduction Act Notice
We need this information to facilitate the payment of benefits or the sharing of information as
required under section 4050 of ERISA and 29 CFR part 4050. You are required to give us this
information. Confidentiality is that provided by the Privacy Act and the Freedom of Information Act.
OMB has approved this collection of information under control number 1212-0069. 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 preparation and submission of a filing will on average take under an hour of in-house
plan time and $1,443 in contractor costs. These are estimates; the actual time and cost will vary
depending on the circumstances of a given plan.
If you have comments concerning the accuracy of these burden estimates, or suggestions for making
the forms or the filing process simpler, please send your comments to Pension Benefit Guaranty
Corporation, Office of the General Counsel, Regulatory Affairs Division, 445 12th Street SW
Washington, DC 20024-2101.

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