Olms interpretative Manual

SURETYCOMPANYREPORTING

1. 
   LMRDA,SECTION211
   

Each surety company which issues any bond required by this Act or ERISA shall fileannually with the Secretary, with respect to each fiscal year during which any such bond was inforce, a report, in such form and detail as he may prescribe by regulation, filed by the presidentand treasurer or corresponding principal officers of the surety company, describing its bondexperience under each such Act, including information as to the premiums received, total claimspaid, amounts recovered by way of subrogation, administrative and legal expenses and suchrelated data and information as the Secretary shall determine to be necessary in the publicinterestandtocarryout thepolicyoftheAct.

Notwithstanding the foregoing, if the Secretary finds that any such specific informationcannotbepracticablyascertainedorwouldbeuninformative,theSecretarymaymodifyorwaivetherequirements for such information.

(TechnicalRevisions:Dec.2016)

2. 
   SEE29CFR409
   

290.005SECRETARYMAYNOTWAIVEENTIREREPORT

Section 211 of the LMRDA requires an annual report from each surety company whichissues any bond under the LMRDA or ERISA.While the Secretary is empowered to modify orwaive the requirement for any specific information, this authority is not construed to beapplicabletothewaivingofthe report as a whole.

(TechnicalRevisions:Dec.2016)

290.100ALLLOSSEXPERIENCE MUSTBEREPORTED

Instructions for completing and filing Form S-1 indicate that, in Parts II and III, theinformation is to be reported on the basis of the five listed code classifications.However, withrespect to part IV, all losses involving a welfare or pension plan covered by ERISA or involvingany labor organization or trust in which a labor organization is interested which is covered by theLMRDA are to be reported regardless of whether or not such plan, labor organization or trust isinsuredunderacontractreportedinPartsIIandIII.

(TechnicalRevisions:Dec.2016)