§ 1059. Recordkeeping and reporting requirements

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 1974

   Employee Retirement Income Security Act of 1974

   Pub. L. 93–406 title I § 209 · 88 Stat. 829

   Enacted · 29 U.S.C. § 1059

   Pub. L. 93–406, title I, § 209, Sept. 2, 1974, 88 Stat. 865

   Source evidence

   Code source credit
   Pub. L. 93–406, title I, § 209, Sept. 2, 1974, 88 Stat. 865

   Enacted provision · exact public law section
   Sec. 209. recordkeeping and reporting requirements (a) (1) Except as provided by paragraph (2) every 29 USC 1059. employer shall, in accordance with regulations prescribed by the Secretary, maintain records with respect to each of his employees sufficient to determine the benefits due or which may become due to such employees. The plan administrator shall make a report, in such manner and at such time as may be provided in regulations prescribed by the Secretary, to each employee who is a participant under the plan and who— (A) requests such report, in such manner and at such time as may be provided in such regulations, (B) terminates his service with the employer, or (C) has a 1-year break in service (as defined in section 203 (b)(3)(A)). The employer shall furnish to the plan administrator the information necessary for the administrator to make the reports required by the preceding sentence. Not more than one report shall be required under subparagraph (A) in any 12-month period. Not more than one report shall be required under subparagraph (C) with respect to consecutive 1-year breaks in service. The report required under this paragraph shall be sufficient to inform the employee of his accrued benefits under the plan and the percentage of such benefits which are nonforfeitable under the plan. (2) If more than one employer adopts a plan, each such employer shall, in accordance with regulations prescribed by the Secretary, furnish to the plan administrator the information necessary for the administrator to maintain the records and make the reports required by paragraph (1). Such administrator shall maintain the records and, to the extent provided under regulations prescribed by the Secretary, make the reports, required by paragraph (1). (b) If any person who is required, under subsection (a), to furnish Noncompliance, penalty. information or maintain records for any plan year fails to comply with such requirement, he shall pay to the Secretary a civil penalty of $10 for each employee with respect to whom such failure occurs, unless it is shown that such failure is due to reasonable cause.

2. 2008

   Worker, Retiree, and Employer Recovery Act of 2008

   Pub. L. 110–458 § 105(f)(1) · 122 Stat. 5092

   1. Substituted · 29 U.S.C. § 1059(a)(1)

      Pub. L. 110–458, § 105(f)(1), in introductory provisions, substituted “such regulations as the Secretary may prescribe” for “regulations prescribed by the Secretary” and, in concluding provisions

   2. Inserted · 29 U.S.C. § 1059(a)(1)

      Pub. L. 110–458, § 105(f)(1), in introductory provisions, inserted last sentence

   3. Struck · 29 U.S.C. § 1059(a)(1)

      Pub. L. 110–458, § 105(f)(1), in introductory provisions, struck out former last sentence which read as follows: “The report required under this paragraph shall be sufficient to inform the employee of his accrued benefits under the plan and the percentage of such benefits which are nonforfeitable under the plan.”

   Source evidence

   Code amendment note
   Subsec. (a)(1). Pub. L. 110–458, § 105(f)(1), in introductory provisions, substituted “such regulations as the Secretary may prescribe” for “regulations prescribed by the Secretary” and, in concluding provisions, inserted last sentence and struck out former last sentence which read as follows: “The report required under this paragraph shall be sufficient to inform the employee of his accrued benefits under the plan and the percentage of such benefits which are nonforfeitable under the plan.”

   Enacted provision · exact public law section
   (1) in paragraph (1)— (A) by striking “regulations prescribed by the Secretary” and inserting “such regulations as the Secretary may prescribe”, and (B) by striking the last sentence and inserting “The report required under this paragraph shall be in the same form, and contain the same information, as periodic benefit statements under section 105(a).”, and

   Effective date note
   Amendment by Pub. L. 110–458 effective as if included in the provisions of Pub. L. 109–280 to which the amendment relates, except as otherwise provided, see section 112 of Pub. L. 110–458, set out as a note under section 72 of Title 26, Internal Revenue Code.

3. 2008

   Worker, Retiree, and Employer Recovery Act of 2008

   Pub. L. 110–458 § 105(f)(2) · 122 Stat. 5092

   1. Added · 29 U.S.C. § 1059(a)(2)

      Pub. L. 110–458, § 105(f)(2), added par. (2)

   2. Struck · 29 U.S.C. § 1059(a)(2)

      Pub. L. 110–458, § 105(f)(2), struck out former par. (2) which read as follows: “If more than one employer adopts a plan, each such employer shall, in accordance with regulations prescribed by the Secretary, furnish to the plan administrator the information necessary for the administrator to maintain the records and make the reports required by paragraph (1). Such administrator shall maintain the records and, to the extent provided under regulations prescribed by the Secretary, make the reports, required by paragraph (1).”

   Source evidence

   Code amendment note
   Subsec. (a)(2). Pub. L. 110–458, § 105(f)(2), added par. (2) and struck out former par. (2) which read as follows: “If more than one employer adopts a plan, each such employer shall, in accordance with regulations prescribed by the Secretary, furnish to the plan administrator the information necessary for the administrator to maintain the records and make the reports required by paragraph (1). Such administrator shall maintain the records and, to the extent provided under regulations prescribed by the Secretary, make the reports, required by paragraph (1).”

   Enacted provision · exact public law section
   (2) by striking paragraph (2) and inserting the following: “(2) If more than one employer adopts a plan, each such employer shall furnish to the plan administrator the information necessary for the administrator to maintain the records, and make the reports, required by paragraph (1). Records. Reports. Such administrator shall maintain the records, and make the reports, required by paragraph (1).” .

   Effective date note
   Amendment by Pub. L. 110–458 effective as if included in the provisions of Pub. L. 109–280 to which the amendment relates, except as otherwise provided, see section 112 of Pub. L. 110–458, set out as a note under section 72 of Title 26, Internal Revenue Code.

6 of 6 references resolved to an enrolled provision