PBGC July Note to Reviewer

Annual Return/Report of Employee Benefit Plan (Form 5500)
OMB Number 1210-0110
July, 2007

NOTE TO REVIEWER:
The PBGC is submitting paperwork numbers for approval to OMB for the three-year
renewal period. The program changes to the plan year 2007, 2008, and 2009 Form 5500
are discussed in detail in the Forms Revisions document, the Notice of Rulemaking, and
in the supporting statements of PBGC and DOL.
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The 2007 Form 5500 forms are attached, and the instructions are scheduled to be
finished shortly and will be sent to OMB at that time by DOL. The main
difference between the 2006 and 2007 instructions include the introduction of the
simplified reporting option for certain small plans. The 2007 forms and schedules
are essentially unchanged from 2006. Due to the removal of Schedule B and the
introduction of Schedule SB and MB in 2008, the instructions for 2007 will
include information about 2008 short plan year filers.
The 2008 forms and instructions are not scheduled to be finished before mid2008, but are a combination of the 2007 and 2009 forms. The 2008 forms will
consist of two components: a) the 2007 forms with the date changed minus the
Schedule B; b) the 2009 Schedules SB and MB, plus the new PPA-required
questions and the asset allocation questions on the 2009 Schedule R and the new
question 7 on the 2009 Form 5500, but only for defined benefit plans. The
Schedules SB and MB, as well as the 2009 questions on the Schedule R will be
attached to the Form 5500 as non-standard forms until the transition to electronic
filing under EFAST2.
The 2009 forms and instructions can be found in the appendices of the Forms
Revisions document. The main difference to the 2008 forms are: a) all forms will
be required to be filed electronically; b) removal of Schedule E and Schedule
SSA; c) establishment of the new Short Form 5500 (5500-SF); d) elimination of
the special limited reporting rules for Code section 403(b) plans; e) revision of
Schedule C; f) additional data elements on Schedule R; and g) various smaller
technical revisions to the Schedule A, Schedule H, and Schedule I.

In 2008, DOL intends to file non-substantive and non-material modification for the 2008
Forms (and in 2009 for the 2009 Forms), as long as there are no additional program
changes.