PUBLIC LAW 109–280—AUG. 17, 2006
120 STAT. 787
‘‘(C) EXCEPTION FOR CERTAIN WAIVERS.— ‘‘(i) IN GENERAL.—The preceding provisions of this paragraph shall not apply to any plan with respect to which the sum of— ‘‘(I) the aggregate unpaid minimum required contributions for the plan year and all preceding plan years, and ‘‘(II) the present value of all waiver amortization installments determined for the plan year and succeeding plan years under section 303(e)(2), is less than $1,000,000. ‘‘(ii) TREATMENT OF WAIVERS FOR WHICH APPLICATIONS ARE PENDING.—The amount described in clause (i)(I) shall include any increase in such amount which would result if all applications for waivers of the minimum funding standard under this subsection which are pending with respect to such plan were denied. ‘‘(iii) UNPAID MINIMUM REQUIRED CONTRIBUTION.— For purposes of this subparagraph— ‘‘(I) IN GENERAL.—The term ‘unpaid minimum required contribution’ means, with respect to any plan year, any minimum required contribution under section 303 for the plan year which is not paid on or before the due date (as determined under section 303(j)(1)) for the plan year. ‘‘(II) ORDERING RULE.—For purposes of subclause (I), any payment to or under a plan for any plan year shall be allocated first to unpaid minimum required contributions for all preceding plan years on a first-in, first-out basis and then to the minimum required contribution under section 303 for the plan year. ‘‘(5) SPECIAL RULES FOR SINGLE-EMPLOYER PLANS.— ‘‘(A) APPLICATION MUST BE SUBMITTED BEFORE DATE 1⁄2 MONTHS AFTER CLOSE OF YEAR.—In the case of a single2 employer plan, no waiver may be granted under this subsection with respect to any plan for any plan year unless an application therefor is submitted to the Secretary of the Treasury not later than the 15th day of the 3rd month beginning after the close of such plan year. ‘‘(B) SPECIAL RULE IF EMPLOYER IS MEMBER OF CONTROLLED GROUP.—In the case of a single-employer plan, if an employer is a member of a controlled group, the temporary substantial business hardship requirements of paragraph (1) shall be treated as met only if such requirements are met— ‘‘(i) with respect to such employer, and ‘‘(ii) with respect to the controlled group of which such employer is a member (determined by treating all members of such group as a single employer). The Secretary of the Treasury may provide that an analysis of a trade or business or industry of a member need not be conducted if such Secretary determines such analysis is not necessary because the taking into account of such member would not significantly affect the determination under this paragraph. ‘‘(6) ADVANCE NOTICE.—
VerDate 14-DEC-2004
10:20 Jul 12, 2007
Jkt 059194
PO 00001
Frm 00785
Fmt 6580
Sfmt 6581
E:\PUBLAW\PUBL001.109
Deadline.
APPS06
PsN: PUBL001
�
