duty of disclosure and reporting

duty of disclosure and reporting Sec. 101. (a) The administrator of each employee benefit plan shall cause to be furnished in accordance with section 104(b) to each participant covered under the plan and to each beneficiary who is receiving benefits under the plan— (1) a summary plan description described in section 102(a)(1); and (2) the information described in section 104(b)(3) and 105(a) and (c). (b) The administrator shall, in accordance with section 104(a), file with the Secretary— (1) the summary plan description described in section 102(a)(1); (2) a plan description containing the matter required in section 102(b); (3) modifications and changes referred to in section 102(a)(2); (4) the annual report containing the information required by section 103; and (5) terminal and supplementary reports as required by subsection (c) of this section. (c)(1) Each administrator of an employee pension benefit plan which is winding up its affairs (without regard to the number of participants remaining in the plan) shall, in accordance with regulations prescribed by the Secretary, file such terminal reports as the Secretary may consider necessary. A copy of such report shall also be filed with the Pension Benefit Guaranty Corporation. (2) The Secretary may require terminal reports to be filed with regard to any employee welfare benefit plan which is winding up its affairs in accordance with regulations promulgated by the Secretary. (3) The Secretary may require that a plan described in paragraph (1) or (2) file a supplementary or terminal report with the annual report in the year such plan is terminated and that a copy of such supplementary or terminal report in the case of a plan described in paragraph (1) be also filed with the Pension Benefit Guaranty Corporation. (d) Cross References.— For regulations relating to coordination of reports to the Secretaries of Labor and the Treasury, see section 3004.