29 CFR § 4043.35 - Insolvency or similar settlement.

---
identifier: "/us/cfr/t29/s4043.35"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "29 CFR § 4043.35 - Insolvency or similar settlement."
title_number: 29
title_name: "Labor"
section_number: "4043.35"
section_name: "Insolvency or similar settlement."
chapter_name: "PENSION BENEFIT GUARANTY CORPORATION"
subchapter_number: "E"
subchapter_name: "PLAN TERMINATIONS"
part_number: "4043"
part_name: "REPORTABLE EVENTS AND CERTAIN OTHER NOTIFICATION REQUIREMENTS"
positive_law: false
currency: "2026-03-24"
last_updated: "2026-03-24"
format_version: "1.1.0"
generator: "[email protected]"
authority: "29 U.S.C. 1083(k), 1302(b)(3), 1343."
regulatory_source: "80 FR 55002, Sept. 11, 2015, unless otherwise noted."
cfr_part: "4043"
---


# 4043.35 Insolvency or similar settlement.

(a) *Reportable event.* A reportable event occurs for a plan when any member of the plan's controlled group—

(1) Commences or has commenced against it any insolvency proceeding (including, but not limited to, the appointment of a receiver) other than a bankruptcy case under the Bankruptcy Code;

(2) Commences, or has commenced against it, a proceeding to effect a composition, extension, or settlement with creditors;

(3) Executes a general assignment for the benefit of creditors; or

(4) Undertakes to effect any other nonjudicial composition, extension, or settlement with substantially all its creditors.

(b) *Waivers*—(1) *De minimis 10-percent segment.* Notice under this section is waived if the person described in paragraph (a) of this section is not a contributing sponsor of the plan and represents a *de minimis* 10-percent segment of the plan's controlled group for the most recent fiscal year(s) ending on or before the date the reportable event occurs.

(2) *Foreign entity.* Notice under this section is waived if the person described in paragraph (a) of this section is a foreign entity other than a foreign parent.

(3) *Liquidation event.* Notice under paragraph (a)(3) or (4) of this section is waived if reporting is also required under § 4043.30 and notice has been provided timely to PBGC for the same event under that section.

[80 FR 55002, Sept. 11, 2015, as amended at 85 FR 6064, Feb. 4, 2020]