Internal Revenue Code:Sec. 6059. Periodic report of actuary

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Location in Internal Revenue Code

     TITLE 26 - INTERNAL REVENUE CODE
      Subtitle F - Procedure and Administration
       CHAPTER 61 - INFORMATION AND RETURNS
        Subchapter A - Returns and Records
         PART III - INFORMATION RETURNS
          Subpart E - Registration of and Information Concerning Pension,
                Etc., Plans
         

Statute

    Sec. 6059. Periodic report of actuary
 
    (a) General rule
      The actuarial report described in subsection (b) shall be filed
    by the plan administrator (as defined in section 414(g) of each
    defined benefit plan to which section 412 applies, for the first
    plan year for which section 412 applies to the plan and for each
    third plan year thereafter (or more frequently if the Secretary
    determines that more frequent reports are necessary).
    (b) Actuarial report
      The actuarial report of a plan required by subsection (a) shall
    be prepared and signed by an enrolled actuary (within the meaning
    of section 7701(a)(35)) and shall contain -
        (1) a description of the funding method and actuarial
      assumptions used to determine costs under the plan,
        (2) a certification of the contribution necessary to reduce the minimum required contribution determined under section 
        430, or the accumulated funding deficiency determined under 
        section 431, to
      zero,
        (3) a statement -
          (A) that to the best of his knowledge the report is complete
        and accurate, and
          (B) the requirements for reasonable actuarial 
        assumptions under section 430(h)(1) or 431(c)(3), 
        whichever are applicable, have been complied with.
        (4) such other information as may be necessary to fully and
      fairly disclose the actuarial position of the plan, and
        (5) such other information regarding the plan as the Secretary
      may by regulations require.
    (c) Time and manner of filing
      The actuarial report and statement required by this section shall
    be filed at the time and in the manner provided by regulations
    prescribed by the Secretary.
    (d) Cross reference
          For coordination between the Department of the Treasury and
        the Department of Labor with respect to the report required to
        be filed under this section, see section 3004 of title III of
        the Employee Retirement Income Security Act of 1974.
 

Sources

    (Added Pub. L. 93-406, title II, Sec. 1033(a), Sept. 2, 1974, 88
    Stat. 947; amended Pub. L. 94-455, title XIX, Sec. 1906(b)(13)(A),
    Oct. 4, 1976, 90 Stat. 1834.)
 

References in Text

                             REFERENCES IN TEXT
      Section 3004 of title III of the Employee Retirement Income
    Security Act of 1974, referred to in subsec. (d), is classified to
    section 1204 of Title 29, Labor.
 

Miscellaneous

                                 AMENDMENTS
      2006 - Pension Protection Act of 2006 (P.L. 109-280)
Section 114(f) Reporting Requirements.--Section 6059(b) of such Code is 
amended--
            (1) by striking ``the accumulated funding deficiency (as 
        defined in section 412(a))'' in paragraph (2) and inserting 
        ``the minimum required contribution determined under section 
        430, or the accumulated funding deficiency determined under 
        section 431,'', and
            (2) by striking paragraph (3)(B) and inserting:
                    ``(B) the requirements for reasonable actuarial 
                assumptions under section 430(h)(1) or 431(c)(3), 
                whichever are applicable, have been complied with.''.

      1976 - Pub. L. 94-455 struck out ''or his delegate'' after
    ''Secretary'' wherever appearing.
                               EFFECTIVE DATE
      Requirements of section applicable only with respect to plan
    years to which part I of subtitle A of title II of Pub. L. 93-406
    applies, see section 1034(1) of Pub. L. 93-406, set out as an note
    under section 6057 of this title.  For a description of the plan
    years to which part 1 applies, see section 1017 of Pub. L. 93-406,
    set out as an Effective Date; Transitional Rules note under section
    410 of this title.
                     CONSOLIDATION OF ACTUARIAL REPORTS
      Section 1033(c) of Pub. L. 93-406, as amended by Pub. L. 99-514,
    Sec. 2, Oct. 22, 1986, 100 Stat. 2095, provided that: ''The
    Secretary of the Treasury and the Secretary of Labor shall take
    such steps as may be necessary to assure coordination to the
    maximum extent feasible between the actuarial reports required by
    section 6059 of the Internal Revenue Code of 1986 and by section
    103(d) of title I of the Employee Retirement Income Security Act of
    1974 (section 1023(d) of Title 29, Labor).''
 

References

                   SECTION REFERRED TO IN OTHER SECTIONS
      This section is referred to in section 6692 of this title.