29 CFR 4043.34 - Loan default.

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§ 4043.34 Loan default.

(a) Reportable event. A reportable event occurs for a plan when, with respect to a loan with an outstanding balance of $10 million or more to a member of the plan's controlled group -

(1) There is an acceleration of payment or a default under the loan agreement, or

(2) The lender waives or agrees to an amendment of any covenant in the loan agreement the effect of which is to cure or avoid a breach that would trigger a default.

(b) Waivers -

(1) De minimis 10-percent segment. Notice under this section is waived if the debtor is not a contributing sponsor of the plan and represents a de minimis 10-percent segment of the plan's controlled group for the most recent fiscal year(s) ending on or before the date the reportable event occurs.

(2) Foreign entity. Notice under this section is waived if the debtor is a foreign entity other than a foreign parent.

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United States Code

Title 29 published on 2015-07-01

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 29 CFR Part 4043 after this date.

  • 2015-09-11; vol. 80 # 176 - Friday, September 11, 2015
    1. 80 FR 54980 - Reportable Events and Certain Other Notification Requirements
      GPO FDSys XML | Text
      PENSION BENEFIT GUARANTY CORPORATION
      Final rule.
      Effective October 13, 2015. See Applicability in SUPPLEMENTARY INFORMATION.
      29 CFR Parts 4000, 4001, 4043, 4204, 4206, and 4231