108 STAT. 5044 PUBLIC LAW 103-465—DEC. 8, 1994 SEC. 772. CERTAIN INFORMATION REQUIRED TO BE FURNISHED TO PBGC. (a) GENERAL RULE. — Subtitle A of title IV of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1301 et seq.) is amended by adding at the end the following new section: 29 USC 1310. " SEC. 4010. AUTHORTIY TO REQUIRE CERTAIN INFORMATION. Regulations. «(a) INPORMATION REQUIRED. —Each person described in subsection (b) shall provide the corporation annually, on or before a date specified by the corporation "in regulations, with— "(1) such records, documents, or other information that the corporation specifies in regulations as necessary to determine the liabilities and assets of plans covered by this title; £Uld
- (2) copies of such person's audited (or, if unavailable,
unaudited) financial statements, and such other financial information as the corporation may prescribe in regulations. "(b) PERSONS REQUIRED TO PROVIDE INFORMATION.—The persons covered by subsection (a) are each contributing sponsor, and each member of a contributing sponsor's controlled group, of a single-employer plan covered by this title, if— "(1) the aggregate unfunded vested benefits at the end of the prececQg plan year (as determined under section 4006(a)(3)(E)(iii)) of plans maintained by the contributing sponsor and the members of its controlled group exceed $50,000,000 (disregarding plans with no unfunded vested benefits); "(2) the conditions for imposition of a Hen described in section 302(f)(l)(A) and (B) of this Act or section 412(n)(l)(A) and (B) of the Internal Revenue Code of 1986 have been met with respect to any plan maintained by the contributing sponsor or any member of its controlled group; or "(3) minimum funding waivers in excess of $1,000,000 have been granted with respect to any plan maintained by the contributing sponsor or any member of its controlled group, and any portion thereof is still outstanding. "(c) INFORMATION EXEMPT FROM DISCLOSURE REQUIREMENTS.— Any information or documentary material submitted to the corporation pursuant to this section shall be exempt fix)m disclosure under section 552 of title 5, United States Code, 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 ofCongress or to any duly authorized committee or subcommittee of the Congress." (b) CLERICAL AMENDMENT.—The table of contents contained in section 1 of such Act is amended by inserting after the item relating to section 4009 the following new item: "Sec. 4010. Authority to require certain information." 29 USC 1310 (c) EFFECTIVE DATE. —The amendments made by this section ^°^- shall be effective on the date of enactment of this Act SEC. 773. ENFORCEMENT OF MINIMUM FUNDING REQUIREMENTS. (a) IN GENERAL.— Paragraph (1) of section 4003(e) of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1303(e)(1)) is amended— (1) by inserting "(A)" after "enforce"; and
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