In an Advisory Opinion, the DOL clarifies that if the controlled group maintains only a single top hat plan, only a single registration statement need be filed. However, the DOL cautions that employers should review the arrangement maintained by controlled group members to determine whether the group maintains only one top hat arrangement or multiple arrangements.
Document Excerpt
This responds to your request on behalf of Empresas Fonalledas, Inc. (Empresas) for an advisory opinion concerning the applicability of Title I of the Employee Retirement Income Security Act of 1974 (ERISA). Specifically, your inquiry relates to whether, in the case of a plan covering a “controlled group of corporations” or a “group of trades or businesses under common control” within the meaning of section 414(b) and (c) of the Internal Revenue Code (Code), filing a single registration statement for the plan will satisfy the alternative method of compliance in 29 C.F.R. § 2520.104-23 for the participating employers.
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