US Code

Public Law 119-73 (01/23/2026)

29 U.S.C. § 1307

Payment of premiums

(a)

Premiums payable when due; accrual; waiver or reduction

section 1342 of this titlesection 1431 of this titleThe designated payor of each plan shall pay the premiums imposed by the corporation under this subchapter with respect to that plan when they are due. Premiums under this subchapter are payable at the time, and on an estimated, advance, or other basis, as determined by the corporation. Premiums imposed by this subchapter on (applicable to that portion of any plan year during which such date occurs) are due within 30 days after such date. Premiums imposed by this subchapter on the first plan year commencing after , are due within 30 days after such plan year commences. Premiums shall continue to accrue until a plan’s assets are distributed pursuant to a termination procedure, or until a trustee is appointed pursuant to , whichever is earlier. The corporation may waive or reduce premiums for a multiemployer plan for any plan year during which such plan receives financial assistance from the corporation under , except that any amount so waived or reduced shall be treated as financial assistance under such section.

(b)

Late payment charge; waiver; interest on overpayment

(1)
section 6601(a) of title 26 If any basic benefit premium is not paid when it is due the corporation is authorized to assess a late payment charge of not more than 100 percent of the premium payment which was not timely paid. The preceding sentence shall not apply to any payment of premium made within 60 days after the date on which payment is due, if before such date, the designated payor obtains a waiver from the corporation based upon a showing of substantial hardship arising from the timely payment of the premium. The corporation is authorized to grant a waiver under this subsection upon application made by the designated payor, but the corporation may not grant a waiver if it appears that the designated payor will be unable to pay the premium within 60 days after the date on which it is due. If any premium is not paid by the last date prescribed for a payment, interest on the amount of such premium at the rate imposed under (relating to interest on underpayment, nonpayment, or extensions of time for payment of tax) shall be paid for the period from such last date to the date paid.
(2)
The corporation is authorized to pay, subject to regulations prescribed by the corporation, interest on the amount of any overpayment of premium refunded to a designated payor. Interest under this paragraph shall be calculated at the same rate and in the same manner as interest is calculated for underpayments under paragraph (1).
(c)

Civil action to recover premium penalty and interest

If any designated payor fails to pay a premium when due, the corporation is authorized to bring a civil action in any district court of the United States within the jurisdiction of which the plan assets are located, the plan is administered, or in which a defendant resides or is found for the recovery of the amount of the premium penalty, and interest, and process may be served in any other district. The district courts of the United States shall have jurisdiction over actions brought under this subsection by the corporation without regard to the amount in controversy.

(d)

Basic benefits guarantee not stopped by designated payor’s failure to pay premiums when due

The corporation shall not cease to guarantee basic benefits on account of the failure of a designated payor to pay any premium when due.

(e)

Designated payor

(1)
For purposes of this section, the term “designated payor” means—
(A)
the contributing sponsor or plan administrator in the case of a single-employer plan, and
(B)
the plan administrator in the case of a multiemployer plan.
(2)
osection 414 of title 26 If the contributing sponsor of any single-employer plan is a member of a controlled group, each member of such group shall be jointly and severally liable for any premiums required to be paid by such contributing sponsor. For purposes of the preceding sentence, the term “controlled group” means any group treated as a single employer under subsection (b), (c), (m), or () of .

Pub. L. 93–406, title IV, § 400788 Stat. 1013Pub. L. 96–364, title IV94 Stat. 1298Pub. L. 100–203, title IX, § 9331(c)101 Stat. 1330–368Pub. L. 101–239, title VII, § 7891(a)(1)103 Stat. 2445Pub. L. 109–280, title IV, § 406(a)120 Stat. 929(, , ; , §§ 402(a)(3), 403(b), , , 1300; , , ; , , ; , , .)

Editorial Notes

Amendments

Pub. L. 109–2802006—Subsec. (b). designated existing provisions as par. (1) and added par. (2).

Pub. L. 101–2391989—Subsec. (b). substituted “Internal Revenue Code of 1986” for “Internal Revenue Code of 1954”, which for purposes of codification was translated as “title 26” thus requiring no change in text.

Pub. L. 100–203, § 9331(c)(1)1987—Subsecs. (a) to (d). , substituted “designated payor” for “plan administrator” wherever appearing.

Pub. L. 100–203, § 9331(c)(2)Subsec. (e). , added subsec. (e).

Pub. L. 96–3641980—Subsec. (a). inserted provisions relating to waiver or reduction of premiums, and struck out provisions relating to payment of premiums under statutory requirements respecting contingent liability coverage.

Statutory Notes and Related Subsidiaries

Effective Date of 2006 Amendment

Pub. L. 109–280, title IV, § 406(b)120 Stat. 929

“The amendments made by subsection (a) [amending this section] shall apply to interest accruing for periods beginning not earlier than the date of the enactment of this Act [].”
, , , provided that:

Effective Date of 1989 Amendment

Pub. L. 101–239Pub. L. 99–514section 7891(f) of Pub. L. 101–239section 1002 of this titleAmendment by effective, except as otherwise provided, as if included in the provision of the Tax Reform Act of 1986, , to which such amendment relates, see , set out as a note under .

Effective Date of 1987 Amendment

Pub. L. 100–203section 9331(f)(1) of Pub. L. 100–203section 1305 of this titleAmendment by applicable to plan years beginning after , see , set out as a note under .

Effective Date of 1980 Amendment

Pub. L. 96–364section 1461(e) of this titleAmendment by effective , except as specifically provided, see .

Pension Payment Acceleration

Pub. L. 114–74, title V, § 502129 Stat. 593

29 U.S.C. 1307(a)“Notwithstanding section 4007(a) of the Employee Retirement Income Security Act of 1974 () and section 4007.11 of title 29, Code of Federal Regulations, for plan years commencing after , and before , the premium due date for such plan years shall be the fifteenth day of the ninth calendar month that begins on or after the first day of the premium payment year.”
, , , provided that: