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Title 29 — LaborRelease 119-73not60

§1059 Recordkeeping and Reporting Requirements

Title 29 › Chapter 18— EMPLOYEE RETIREMENT INCOME SECURITY PROGRAM › Subchapter I— PROTECTION OF EMPLOYEE BENEFIT RIGHTS › Subtitle Subtitle B— Regulatory Provisions › Part 2— participation and vesting › § 1059

Last updated Apr 5, 2026|Official source

Summary

Employers must keep enough records, following rules set by the Secretary, to figure out the benefits owed or that might be owed to each employee. The plan administrator must send a report to any plan participant who asks for one, who leaves the job, or who has a 1-year break in service. If more than one employer uses the same plan, each employer must give the administrator the needed information, and the administrator must keep the records and send the reports. If a person who must keep records or give information fails to do so for any plan year, they must pay $10 for each employee affected, unless they can show the failure was for reasonable cause.

Full Legal Text

Title 29, §1059

Labor — Source: USLM XML via OLRC

(a)(1)Except as provided by paragraph (2) every employer shall, in accordance with such regulations as the Secretary may prescribe, maintain records with respect to each of his employees sufficient to determine the benefits due or which may become due to such employees. The plan administrator shall make a report, in such manner and at such time as may be provided in regulations prescribed by the Secretary, to each employee who is a participant under the plan and who—
(A)requests such report, in such manner and at such time as may be provided in such regulations,
(B)terminates his service with the employer, or
(C)has a 1-year break in service (as defined in section 1053(b)(3)(A) of this title).
(2)If more than one employer adopts a plan, each such employer shall furnish to the plan administrator the information necessary for the administrator to maintain the records, and make the reports, required by paragraph (1). Such administrator shall maintain the records, and make the reports, required by paragraph (1).
(b)If any person who is required, under subsection (a), to furnish information or maintain records for any plan year fails to comply with such requirement, he shall pay to the Secretary a civil penalty of $10 for each employee with respect to whom such failure occurs, unless it is shown that such failure is due to reasonable cause.

Legislative History

Notes & Related Subsidiaries

Editorial Notes

Amendments

2008—Subsec. (a)(1). Pub. L. 110–458, § 105(f)(1), in introductory provisions, substituted “such

Regulations

as the Secretary may prescribe” for “

Regulations

prescribed by the Secretary” and, in concluding provisions, inserted last sentence and struck out former last sentence which read as follows: “The report required under this paragraph shall be sufficient to inform the employee of his accrued benefits under the plan and the percentage of such benefits which are nonforfeitable under the plan.” Subsec. (a)(2). Pub. L. 110–458, § 105(f)(2), added par. (2) and struck out former par. (2) which read as follows: “If more than one employer adopts a plan, each such employer shall, in accordance with

Regulations

prescribed by the Secretary, furnish to the plan administrator the information necessary for the administrator to maintain the records and make the reports required by paragraph (1). Such administrator shall maintain the records and, to the extent provided under

Regulations

prescribed by the Secretary, make the reports, required by paragraph (1).”

Statutory Notes and Related Subsidiaries

Effective Date

of 2008 AmendmentAmendment by Pub. L. 110–458 effective as if included in the provisions of Pub. L. 109–280 to which the amendment relates, except as otherwise provided, see section 112 of Pub. L. 110–458, set out as a note under section 72 of Title 26, Internal Revenue Code.

Regulations

Secretary authorized, effective Sept. 2, 1974, to promulgate

Regulations

wherever provisions of this subchapter call for the promulgation of

Regulations

, see section 1031 of this title.

Reference

Citations & Metadata

Citation

29 U.S.C. § 1059

Title 29 — Labor

Last Updated

Apr 5, 2026

Release point: 119-73not60