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Internal Revenue Code, § 6059. Periodic Report Of Actuary

I.R.C. § 6059(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).
I.R.C. § 6059(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—
I.R.C. § 6059(b)(1)
a description of the funding method and actuarial assumptions used to determine costs under the plan,
I.R.C. § 6059(b)(2)
a certification of the contribution necessary to reduce the minimum required contribution determined under section 430, the accumulated funding deficiency under section 433, or the accumulated funding deficiency determined under section 431, to zero,
I.R.C. § 6059(b)(3)
a statement—
I.R.C. § 6059(b)(3)(A)
that to the best of his knowledge the report is complete and accurate, and
I.R.C. § 6059(b)(3)(B)
that the requirements for reasonable actuarial assumptions under section 430(h)(1), 431(c)(3), or 433(c)(3), whichever are applicable, have been complied with,
I.R.C. § 6059(b)(4)
such other information as may be necessary to fully and fairly disclose the actuarial position of the plan, and
I.R.C. § 6059(b)(5)
such other information regarding the plan as the Secretary may by regulations require.
I.R.C. § 6059(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.
I.R.C. § 6059(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.
(Added by Pub. L. 93-406, title II, Sec. 1033(a), Sept. 2, 1974, 88 Stat. 947, and amended by Pub. L. 94-455, title XIX, Sec. 1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1834; Pub. L. 109-280, title I, Sec. 114(f), Aug. 17, 2006, 120 Stat. 780; Pub. L. 113-97, title II, Sec. 202(c)(10), Apr. 7, 2014, 128 Stat. 1101; Pub. L. 115-141, Div. U, title IV, Sec. 401(a)(265), Mar. 23, 2018, 132 Stat. 348.)
BACKGROUND NOTES
AMENDMENTS
2018--Subsec. (b)(3)(B). Pub. L. 115-141, Div. U, Sec. 401(a)(265), amended subpar. (B) by substituting “that the requirements” for “the requirements”, and by substituting a comma for the period at the end.
2014 - Subsec. (b)(2). Pub. L. 113-97, Sec. 202(c)(10)(A), amended par. (2) by substituting “430, the accumulated funding deficiency under section 433,” for “403,”.
Subsec. (b)(3)(B). Pub. L. 113-97, Sec. 202(c)(10)(B), amended subpar. (B) by substituting “430(h)(1), 431(c)(3), or 433(c)(3)” for “430(h)(1) or 431(c)(3)”.
2006 - Subsec. (b)(2). Pub. L. 109-280, Sec. 114(f)(1), amended par. (2) by substituting “the minimum required contribution determined under section 430, or the accumulated funding deficiency determined under section 431” for “the accumulated funding deficiency (as defined in section 412(a))”.
Subsec. (b)(3)(B). Pub. L. 109-280, Sec. 114(f)(2), amended subpar. (B). Before amendment, it read as follows:
“(B) the requirements of section 412(c) (relating to reasonable actuarial assumptions) have been complied with,”.
1976--Pub. L. 94-455 struck out “or his delegate” after “Secretary” wherever appearing.
EFFECTIVE DATE OF 2018 AMENDMENTS
Amendments by Pub. L. 115-141, Div. U, Sec. 401(a)(265), effective March 23, 2018.
EFFECTIVE DATE OF 2014 AMENDMENTS
Amendments by Sec. 202(c)(10) of Pub. L. 113-97 effective for years beginning after December 31, 2013.
EFFECTIVE DATE OF 2006 AMENDMENTS
Amendments by Sec. 114(f) of Pub. L. 109-280 effective for plan years beginning after 2007.
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, 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].”