29 USC 1343(f): Confidential business information information submitted to PBGC as part of a notice of a reportable event

          
Sec. 1343. Reportable events
(a) Notification that event has occurred

    Within 30 days after the plan administrator or the contributing 
sponsor knows or has reason to know that a reportable event described in 
subsection (c) of this section has occurred, he shall notify the 
corporation that such event has occurred, unless a notice otherwise 
required under this subsection has already been provided with respect to 
such event. The corporation is authorized to waive the requirement of 
the preceding sentence with respect to any or all reportable events with 
respect to any plan, and to require the notification to be made by 
including the event in the annual report made by the plan.

(b) Notification that event is about to occur

    (1) The requirements of this subsection shall be applicable to a 
contributing sponsor if, as of the close of the preceding plan year--
        (A) the aggregate unfunded vested benefits (as determined under 
    section 1306(a)(3)(E)(iii) of this title) of plans subject to this 
    subchapter which are maintained by such sponsor and members of such 
    sponsor's controlled groups (disregarding plans with no unfunded 
    vested benefits) exceed $50,000,000, and
        (B) the funded vested benefit percentage for such plans is less 
    than 90 percent.

For purposes of subparagraph (B), the funded vested benefit percentage 
means the percentage which the aggregate value of the assets of such 
plans bears to the aggregate vested benefits of such plans (determined 
in accordance with section 1306(a)(3)(E)(iii) of this title).
    (2) This subsection shall not apply to an event if the contributing 
sponsor, or the member of the contributing sponsor's controlled group to 
which the event relates, is--
        (A) a person subject to the reporting requirements of section 13 
    or 15(d) of the Securities Exchange Act of 1934 [15 U.S.C. 78m, 
    78o(d)], or
        (B) a subsidiary (as defined for purposes of such Act [15 U.S.C. 
    78a et seq.]) of a person subject to such reporting requirements.

    (3) No later than 30 days prior to the effective date of an event 
described in paragraph (9), (10), (11), (12), or (13) of subsection (c) 
of this section, a contributing sponsor to which the requirements of 
this subsection apply shall notify the corporation that the event is 
about to occur.
    (4) The corporation may waive the requirement of this subsection 
with respect to any or all reportable events with respect to any 
contributing sponsor.

(c) Enumeration of reportable events

    For purposes of this section a reportable event occurs--
        (1) when the Secretary of the Treasury issues notice that a plan 
    has ceased to be a plan described in section 1321(a)(2) of this 
    title, or when the Secretary of Labor determines the plan is not in 
    compliance with subchapter I of this chapter;
        (2) when an amendment of the plan is adopted if, under the 
    amendment, the benefit pay
    able with respect to any participant may be decreased;
        (3) when the number of active participants is less than 80 
    percent of the number of such participants at the beginning of the 
    plan year, or is less than 75 percent of the number of such 
    participants at the beginning of the previous plan year;
        (4) when the Secretary of the Treasury determines that there has 
    been a termination or partial termination of the plan within the 
    meaning of section 411(d)(3) of title 26, but the occurrence of such 
    a termination or partial termination does not, by itself, constitute 
    or require a termination of a plan under this subchapter;
        (5) when the plan fails to meet the minimum funding standards 
    under section 412 of title 26 (without regard to whether the plan is 
    a plan described in section 1321(a)(2) of this title) or under 
    section 1082 of this title;
        (6) when the plan is unable to pay benefits thereunder when due;
        (7) when there is a distribution under the plan to a participant 
    who is a substantial owner as defined in section 1321(d) of this 
    title if--
            (A) such distribution has a value of $10,000 or more;
            (B) such distribution is not made by reason of the death of 
        the participant; and
            (C) immediately after the distribution, the plan has 
        nonforfeitable benefits which are not funded;

        (8) when a plan merges, consolidates, or transfers its assets 
    under section 1058 of this title, or when an alternative method of 
    compliance is prescribed by the Secretary of Labor under section 
    1030 of this title;
        (9) when, as a result of an event, a person ceases to be a 
    member of the controlled group;
        (10) when a contributing sponsor or a member of a contributing 
    sponsor's controlled group liquidates in a case under title 11, or 
    under any similar Federal law or law of a State or political 
    subdivision of a State;
        (11) when a contributing sponsor or a member of a contributing 
    sponsor's controlled group declares an extraordinary dividend (as 
    defined in section 1059(c) of title 26) or redeems, in any 12-month 
    period, an aggregate of 10 percent or more of the total combined 
    voting power of all classes of stock entitled to vote, or an 
    aggregate of 10 percent or more of the total value of shares of all 
    classes of stock, of a contributing sponsor and all members of its 
    controlled group;
        (12) when, in any 12-month period, an aggregate of 3 percent or 
    more of the benefit liabilities of a plan covered by this subchapter 
    and maintained by a contributing sponsor or a member of its 
    controlled group are transferred to a person that is not a member of 
    the controlled group or to a plan or plans maintained by a person or 
    persons that are not such a contributing sponsor or a member of its 
    controlled group; or
        (13) when any other event occurs that may be indicative of a 
    need to terminate the plan and that is prescribed by the corporation 
    in regulations.

For purposes of paragraph (7), all distributions to a participant within 
any 24-month period are treated as a single distribution.

(d) Notification to corporation by Secretary of the Treasury

    The Secretary of the Treasury shall notify the corporation--
        (1) whenever a reportable event described in paragraph (1), (4), 
    or (5) of subsection (c) of this section occurs, or
        (2) whenever any other event occurs which the Secretary of the 
    Treasury believes indicates that the plan may not be sound.

(e) Notification to corporation by Secretary of Labor

    The Secretary of Labor shall notify the corporation--
        (1) whenever a reportable event described in paragraph (1), (5), 
    or (8) of subsection (c) of this section occurs, or
        (2) whenever any other event occurs which the Secretary of Labor 
    believes indicates that the plan may not be sound.

        

            
 
          

(f) Disclosure exemption

    Any information or documentary material submitted to the corporation 
pursuant to this section shall be exempt from disclosure under section 
552 of title 5, and no such information or documentary material may be 
made public, except as may be relevant to any administrative or judicial 
action or proceeding. Nothing in this section is intended to prevent 
disclosure to either body of Congress or to any duly authorized 
committee or subcommittee of the Congress.

(Pub. L. 93-406, title IV, Sec. 4043, Sept. 2, 1974, 88 Stat. 1024; Pub. 
L. 101-239, title VII, Sec. 7891(a), Dec. 19, 1989, 103 Stat. 2445; Pub. 
L. 103-465, title VII, Sec. 771(a)-(e)(1), Dec. 8, 1994, 108 Stat. 5042, 
5043; Pub. L. 109-280, title IV, Sec. 407(c)(2), Aug. 17, 2006, 120 
Stat. 930.)

                       References in Text

    The Securities Exchange Act of 1934, referred to in subsec. 
(b)(2)(B), is act June 6, 1934, ch. 404, 48 Stat. 881, as amended, which 
is classified principally to chapter 2B (Sec. 78a et seq.) of Title 15, 
Commerce and Trade. For complete classification of this Act to the Code, 
see section 78a of Title 15 and Tables.
                               Amendments

    2006--Subsec. (c)(7). Pub. L. 109-280 substituted ``1321(d)'' for 
``1322(b)(6)'' in introductory provisions.
    1994--Subsec. (a). Pub. L. 103-465, Sec. 771(a), (e)(1), in first 
sentence, inserted ``or the contributing sponsor'' after 
``administrator'', substituted ``subsection (c)'' for ``subsection 
(b)'', and inserted before period at end ``, unless a notice otherwise 
required under this subsection has already been provided with respect to 
such event'', and struck out last sentence which read as follows: 
``Whenever an employer making contributions under a plan to which 
section 1321 of this title applies knows or has reason to know that a 
reportable event has occurred he shall notify the plan administrator 
immediately.''
    Subsec. (b). Pub. L. 103-465, Sec. 771(b), added subsec. (b). Former 
subsec. (b) redesignated (c).
    Subsec. (c). Pub. L. 103-465, Sec. 771(b), redesignated subsec. (b) 
as (c). Former subsec. (c) redesignated (d).
    Subsec. (c)(8) to (13). Pub. L. 103-465, Sec. 771(c), struck out 
``or'' at end of par. (8), added pars. (9) to (13), and struck out 
former par. (9) which read as follows: ``when any other event occurs 
which the corporation deter
mines may be indicative of a need to terminate the plan.''.
    Subsecs. (d), (e). Pub. L. 103-465, Sec. 771(b), (e)(1), 
redesignated subsecs. (c) and (d) as (d) and (e), respectively, and 
substituted ``subsection (c)'' for ``subsection (b)'' in par. (1) of 
each subsec.
    Subsec. (f). Pub. L. 103-465, Sec. 771(d), added subsec. (f).
    1989--Subsec. (b)(4). Pub. L. 101-239 substituted ``Internal Revenue 
Code of 1986'' for ``Internal Revenue Code of 1954'', which for purposes 
of codification was translated as ``title 26'' thus requiring no change 
in text.
                    Effective Date of 2006 Amendment

    Amendment by Pub. L. 109-280 effective Jan. 1, 2006, see section 
407(d)(2) of Pub. L. 109-280, set out as a note under section 1321 of 
this title.
                    Effective Date of 1994 Amendment

    Amendment by Pub. L. 103-465 effective for events occurring 60 days 
or more after Dec. 8, 1994, see section 771(f) of Pub. L. 103-465, set 
out as a note under section 1342 of this title.
                    Effective Date of 1989 Amendment

    Amendment by Pub. L. 101-239 effective, except as otherwise 
provided, as if included in the provision of the Tax Reform Act of 1986, 
Pub. L. 99-514, to which such amendment relates, see section 7891(f) of 
Pub. L. 101-239, set out as a note under section 1002 of this title.