Browse Arkansas Code titles and sections
29 U.S.C. § 1368 — Lien for liability
Federal law — U.S. Code and appendices · legal_authorities
**(a) Creation of lien** If any person liable to the corporation under section 1362, 1363, or 1364 of this title neglects or refuses to pay, after demand, the amount of such liability (including interest), there shall be a lien in favor of the corporation in the amount of such liability (including interest) upon all property and rights to property, whether real or personal, belonging to such person, except that such lien may not be in an amount in excess of 30 percent of the collective net worth of all persons described in [section 1362(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1362/a&num=0&edition=prelim) 11 So in original. Probably should be followed by a period.
**(b) Term of lien** The lien imposed by subsection (a) arises on the date of termination of a plan, and continues until the liability imposed under section 1362, 1363, or 1364 of this title is satisfied or becomes unenforceable by reason of lapse of time.
**(c) Priority**
(1) Except as otherwise provided under this section, the priority of a lien imposed under subsection (a) shall be determined in the same manner as under [section 6323 of title 26](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section6323&num=0&edition=prelim) (as in effect on April 7, 1986). Such section 6323 shall be applied for purposes of this section by disregarding subsection (g)(4) and by substituting—
(A) “lien imposed by section 4068 of the Employee Retirement Income Security Act of 1974 [[29 U.S.C. 1368](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1368&num=0&edition=prelim)]” for “lien imposed by section 6321” each place it appears in subsections (a), (b), (c)(1), (c)(4)(B), (d), (e), and (h)(5);
(B) “the corporation”
Source: Supplied U.S. Code snapshot — release unconfirmed · 29 U.S.C. § 1368
Stored review status: release_metadata_unconfirmed. A text match is a research starting point; applicability is not established.
Original supplied file — preserved unchanged
Download original Markdown file
File SHA-256: f6f1a4268016718582c3cc028c36dde4b785f068d893be0fe2e20c6a90950767. The original may include catalog metadata, neighboring provisions, or embedded records outside this collection's scope. Search shows only the selected federal record. Historical editions and unverified snapshots are not a statement of current law.
Authority boundary: historical or unconfirmed source not current law verified.
Open the recorded source website ↗
Record provenance
Stable record: federal_law:legal_authorities:record_usc_55a3e9c024e6f5f9806e2e7f
Source file: Laws/federal/codes/united-states-code/title-29/section-1368-lien-for-liability--e3e5271c64.md
Pages: Not recorded – Not recorded
Passage SHA-256: 57921abb5231c917c50fe417eeb47bae92a0660cf8d8553bf18cabfd8b28961c
Source location: Title 29, Chapter 18, § 1368; chapter-018-employee-retirement-income-security-program.md
Stored source content
**(a) Creation of lien** If any person liable to the corporation under section 1362, 1363, or 1364 of this title neglects or refuses to pay, after demand, the amount of such liability (including interest), there shall be a lien in favor of the corporation in the amount of such liability (including interest) upon all property and rights to property, whether real or personal, belonging to such person, except that such lien may not be in an amount in excess of 30 percent of the collective net worth of all persons described in [section 1362(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1362/a&num=0&edition=prelim) 11 So in original. Probably should be followed by a period.
**(b) Term of lien** The lien imposed by subsection (a) arises on the date of termination of a plan, and continues until the liability imposed under section 1362, 1363, or 1364 of this title is satisfied or becomes unenforceable by reason of lapse of time.
**(c) Priority**
(1) Except as otherwise provided under this section, the priority of a lien imposed under subsection (a) shall be determined in the same manner as under [section 6323 of title 26](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section6323&num=0&edition=prelim) (as in effect on April 7, 1986). Such section 6323 shall be applied for purposes of this section by disregarding subsection (g)(4) and by substituting—
(A) “lien imposed by section 4068 of the Employee Retirement Income Security Act of 1974 [[29 U.S.C. 1368](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1368&num=0&edition=prelim)]” for “lien imposed by section 6321” each place it appears in subsections (a), (b), (c)(1), (c)(4)(B), (d), (e), and (h)(5);
(B) “the corporation” for “the Secretary” in subsections (a) and (b)(9)(C);
(C) “the payment of the amount on which the section 4068(a) lien is based” for “the collection of any tax under this title” in subsection (b)(3);
(D) “a person whose property is subject to the lien” for “the taxpayer” in subsections (b)(8), (c)(2)(A)(i) (the first place it appears), (c)(2)(A)(ii), (c)(2)(B), (c)(4)(B), and (c)(4)(C) (in the matter preceding clause (i));
(E) “such person” for “the taxpayer” in subsections (c)(2)(A)(i) (the second place it appears) and (c)(4)(C)(ii);
(F) “payment of the loan value of the amount on which the lien is based is made to the corporation” for “satisfaction of a levy pursuant to section 6332(b)” in subsection (b)(9)(C);
(G) “section 4068(a) lien” for “tax lien” each place it appears in subsections (c)(1), (c)(2)(A), (c)(2)(B), (c)(3)(B)(iii), (c)(4)(B), (d), and (h)(5); and
(H) “the date on which the lien is first filed” for “the date of the assessment of the tax” in subsection (g)(3)(A).
(2) In a case under title 11 or in insolvency proceedings, the lien imposed under subsection (a) shall be treated in the same manner as a tax due and owing to the United States for purposes of title 11 or [section 3713 of title 31](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title31-section3713&num=0&edition=prelim).
(3) For purposes of applying [section 6323(a) of title 26](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section6323/a&num=0&edition=prelim) to determine the priority between the lien imposed under subsection (a) and a Federal tax lien, each lien shall be treated as a judgment lien arising as of the time notice of such lien is filed.
(4) For purposes of this subsection, notice of the lien imposed by subsection (a) shall be filed in the same manner as under section 6323(f) and (g) of title 26.
**(d) Civil action; limitation period**
(1) In any case where there has been a refusal or neglect to pay the liability imposed under section 1362, 1363, or 1364 of this title, the corporation may bring civil action in a district court of the United States to enforce the lien of the corporation under this section with respect to such liability or to subject any property, of whatever nature, of the liable person, or in which he has any right, title, or interest to the payment of such liability.
(2) The liability imposed by section 1362, 1363, or 1364 of this title may be collected by a proceeding in court if the proceeding is commenced within 6 years after the date upon which the plan was terminated or prior to the expiration of any period for collection agreed upon in writing by the corporation and the liable person before the expiration of such 6-year period. The period of limitations provided under this paragraph shall be suspended for the period the assets of the liable person are in the control or custody of any court of the United States, or of any State, or of the District of Columbia, and for 6 months thereafter, and for any period during which the liable person is outside the United States if such period of absence is for a continuous period of at least 6 months.
**(e) Release or subordination** If the corporation determines that release of the lien or subordination of the lien to any other creditor of the liable person would not adversely affect the collection of the liability imposed under section 1362, 1363, or 1364 of this title, or that the amount realizable by the corporation from the property to which the lien attaches will ultimately be increased by such release or subordination, and that the ultimate collection of the liability will be facilitated by such release or subordination, the corporation may issue a certificate of release or subordination of the lien with respect to such property, or any part thereof.
**(f) Definitions** For purposes of this section—
(1) The collective net worth of persons subject to liability in connection with a plan termination shall be determined as provided in [section 1362(d)(1) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1362/d/1&num=0&edition=prelim).
(2) The term “pre-tax profits” has the meaning provided in [section 1362(d)(2) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1362/d/2&num=0&edition=prelim).
Cross-references
Connections may be documented source relationships, shared citations or nearby passages. Each explains its basis; a connection alone does not establish applicability to your situation.
Federal law — U.S. Code and appendices · legal_authorities
**(a) General rules governing single-employer plan terminations**
(1) **Exclusive means of plan termination** — Except in the case of a termination for which proceedings are otherwise instituted by the corporation as provided in [section 1342 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1342&num=0&edition=prelim), a single-employer plan may be terminated only in a standard termination under subsection (b) or a distress termination under subsection (c).
(2) **60-day notice of intent to terminate** — Not less than 60 days before the proposed termination date of a standard termination under subsection (b) or a distress termination under subsection (c), the plan administrator shall provide to each affected party (other than the corporation in the case of a standard termination) a written notice of intent to terminate stating that such termination is intended and the proposed termination date. The written notice shall include any related additional information required in regulations of the corporation.
(3) **Adherence to collective bargaining agreements** — The corporation shall not proceed with a termination of a plan under this section if the termination would violate the terms and conditions of an existing collective bargaining agreement. Nothing in the preceding sentence shall be construed as limiting the authority of the corporation to institute proceedings to involuntarily terminate a plan under [section 1342 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1342&num=0&edition=prelim).
**(b) Standard termination of single-employer plans**
(1) **General requirements** — A single-employer plan may terminate under a standard termination only if—
(A) the plan administrator provi
Source: Supplied U.S. Code snapshot — release unconfirmed · 29 U.S.C. § 1341
Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** In any case in which a single-employer plan is terminated in a distress termination under [section 1341(c) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1341/c&num=0&edition=prelim) or a termination otherwise instituted by the corporation under [section 1342 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1342&num=0&edition=prelim), any person who is, on the termination date, a contributing sponsor of the plan or a member of such a contributing sponsor’s controlled group shall incur liability under this section. The liability under this section of all such persons shall be joint and several. The liability under this section consists of—
(1) liability to the corporation, to the extent provided in subsection (b), and
(2) liability to the trustee appointed under subsection (b) or (c) of [section 1342 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1342&num=0&edition=prelim), to the extent provided in subsection (c).
**(b) Liability to corporation**
(1) **Amount of liability**
(A) *In general* — Except as provided in subparagraph (B), the liability to the corporation of a person described in subsection (a) shall be the total amount of the unfunded benefit liabilities (as of the termination date) to all participants and beneficiaries under the plan, together with interest (at a reasonable rate) calculated from the termination date in accordance with regulations prescribed by the corporation.
(B) *Special rule in case of subsequent insufficiency* — For purposes of subparagraph (A), in any case described in [section 1341(c)(3)(C)(ii) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-se
Source: Supplied U.S. Code snapshot — release unconfirmed · 29 U.S.C. § 1362
Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
**(a) Authority to institute proceedings to terminate a plan** The corporation may institute proceedings under this section to terminate a plan whenever it determines that—
(1) the plan has not met the minimum funding standard required under [section 412 of title 26](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section412&num=0&edition=prelim), or has been notified by the Secretary of the Treasury that a notice of deficiency under [section 6212 of title 26](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section6212&num=0&edition=prelim) has been mailed with respect to the tax imposed under [section 4971(a) of title 26](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section4971/a&num=0&edition=prelim),
(2) the plan will be unable to pay benefits when due,
(3) the reportable event described in [section 1343(c)(7) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1343/c/7&num=0&edition=prelim) has occurred, or
(4) the possible long-run loss of the corporation with respect to the plan may reasonably be expected to increase unreasonably if the plan is not terminated.
The corporation shall as soon as practicable institute proceedings under this section to terminate a single-employer plan whenever the corporation determines that the plan does not have assets available to pay benefits which are currently due under the terms of the plan. The corporation may prescribe a simplified procedure to follow in terminating small plans as long as that procedure includes substantial safeguards for the rights of the participants and beneficiaries under the plans, and for the employers who maintain such plans (including the requirement for a court decree under subsection (c)). Not
Source: Supplied U.S. Code snapshot — release unconfirmed · 29 U.S.C. § 1342
Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
In this title the following definitions shall apply:
(1) The term “accountant” means accountant authorized under applicable law to practice public accounting, and includes professional accounting association, corporation, or partnership, if so authorized.
(2) The term “affiliate” means—
(A) entity that directly or indirectly owns, controls, or holds with power to vote, 20 percent or more of the outstanding voting securities of the debtor, other than an entity that holds such securities—
(i) in a fiduciary or agency capacity without sole discretionary power to vote such securities; or
(ii) solely to secure a debt, if such entity has not in fact exercised such power to vote;
(B) corporation 20 percent or more of whose outstanding voting securities are directly or indirectly owned, controlled, or held with power to vote, by the debtor, or by an entity that directly or indirectly owns, controls, or holds with power to vote, 20 percent or more of the outstanding voting securities of the debtor, other than an entity that holds such securities—
(i) in a fiduciary or agency capacity without sole discretionary power to vote such securities; or
(ii) solely to secure a debt, if such entity has not in fact exercised such power to vote;
(C) person whose business is operated under a lease or operating agreement by a debtor, or person substantially all of whose property is operated under an operating agreement with the debtor; or
(D) entity that operates the business or substantially all of the property of the debtor under a lease or operating agreement.
(3) The term “assisted person” means any person whose debts consist primarily of consumer debts and the value of whose nonexempt property is less than $150,000.11 See Adjustment of Dollar Amounts not
Source: Supplied U.S. Code snapshot — release unconfirmed · 11 U.S.C. § 101
Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
**(a) Requirements for qualification** A trust created or organized in the United States and forming part of a stock bonus, pension, or profit-sharing plan of an employer for the exclusive benefit of his employees or their beneficiaries shall constitute a qualified trust under this section—
(1) if contributions are made to the trust by such employer, or employees, or both, or by another employer who is entitled to deduct his contributions under section 404(a)(3)(B) (relating to deduction for contributions to profit-sharing and stock bonus plans), or by a charitable remainder trust pursuant to a qualified gratuitous transfer (as defined in section 664(g)(1)), for the purpose of distributing to such employees or their beneficiaries the corpus and income of the fund accumulated by the trust in accordance with such plan;
(2) if under the trust instrument it is impossible, at any time prior to the satisfaction of all liabilities with respect to employees and their beneficiaries under the trust, for any part of the corpus or income to be (within the taxable year or thereafter) used for, or diverted to, purposes other than for the exclusive benefit of his employees or their beneficiaries (but this paragraph shall not be construed, in the case of a multiemployer plan, to prohibit the return of a contribution within 6 months after the plan administrator determines that the contribution was made by a mistake of fact or law (other than a mistake relating to whether the plan is described in section 401(a) or the trust which is part of such plan is exempt from taxation under section 501(a), or the return of any withdrawal liability payment determined to be an overpayment within 6 months of such determination));
(3) if the plan of which such trust is a part satisfies the requireme
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 401
Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
**(a)** For purposes of this subchapter, the term—
(1) “administrator” means the person or persons described in paragraph (16) of [section 1002 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1002&num=0&edition=prelim);
(2) “substantial employer”, for any plan year of a single-employer plan, means one or more persons—
(A) who are contributing sponsors of the plan in such plan year,
(B) who, at any time during such plan year, are members of the same controlled group, and
(C) whose required contributions to the plan for each plan year constituting one of—
(i) the two immediately preceding plan years, or
(ii) the first two of the three immediately preceding plan years,
total an amount greater than or equal to 10 percent of all contributions required to be paid to or under the plan for such plan year;
(3) “multiemployer plan” means a plan—
(A) to which more than one employer is required to contribute,
(B) which is maintained pursuant to one or more collective bargaining agreements between one or more employee organizations and more than one employer, and
(C) which satisfies such other requirements as the Secretary of Labor may prescribe by regulation,
except that, in applying this paragraph—
(i) a plan shall be considered a multiemployer plan on and after its termination date if the plan was a multiemployer plan under this paragraph for the plan year preceding such termination, and
(ii) for any plan year which began before September 26, 1980, the term “multiemployer plan” means a plan described in [section 414(f) of title 26](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section414/f&num=0&edition=prelim) as in effect immediately before such date;
(4) “corporation”,
Source: Supplied U.S. Code snapshot — release unconfirmed · 29 U.S.C. § 1301
Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
**(a)**
(1) A claim of the United States Government shall be paid first when—
(A) a person indebted to the Government is insolvent and—
(i) the debtor without enough property to pay all debts makes a voluntary assignment of property;
(ii) property of the debtor, if absent, is attached; or
(iii) an act of bankruptcy is committed; or
(B) the estate of a deceased debtor, in the custody of the executor or administrator, is not enough to pay all debts of the debtor.
(2) This subsection does not apply to a case under title 11.
**(b)** A representative of a person or an estate (except a trustee acting under title 11) paying any part of a debt of the person or estate before paying a claim of the Government is liable to the extent of the payment for unpaid claims of the Government.
Source: Supplied U.S. Code snapshot — release unconfirmed · 31 U.S.C. § 3713
Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
**(a) Purchasers, holders of security interests, mechanic’s lienors, and judgment lien creditors** The lien imposed by section 6321 shall not be valid as against any purchaser, holder of a security interest, mechanic’s lienor, or judgment lien creditor until notice thereof which meets the requirements of subsection (f) has been filed by the Secretary.
**(b) Protection for certain interests even though notice filed** Even though notice of a lien imposed by section 6321 has been filed, such lien shall not be valid—
(1) **Securities** — With respect to a security (as defined in subsection (h)(4))—
(A) as against a purchaser of such security who at the time of purchase did not have actual notice or knowledge of the existence of such lien; and
(B) as against a holder of a security interest in such security who, at the time such interest came into existence, did not have actual notice or knowledge of the existence of such lien.
(2) **Motor vehicles** — With respect to a motor vehicle (as defined in subsection (h)(3)), as against a purchaser of such motor vehicle, if—
(A) at the time of the purchase such purchaser did not have actual notice or knowledge of the existence of such lien, and
(B) before the purchaser obtains such notice or knowledge, he has acquired possession of such motor vehicle and has not thereafter relinquished possession of such motor vehicle to the seller or his agent.
(3) **Personal property purchased at retail** — With respect to tangible personal property purchased at retail, as against a purchaser in the ordinary course of the seller’s trade or business, unless at the time of such purchase such purchaser intends such purchase to (or knows such purchase will) hinder, evade, or defeat the collection of any tax under this title.
(4) **Pers
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 6323
Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
For purposes of this subchapter:
(1) The terms “employee welfare benefit plan” and “welfare plan” mean any plan, fund, or program which was heretofore or is hereafter established or maintained by an employer or by an employee organization, or by both, to the extent that such plan, fund, or program was established or is maintained for the purpose of providing for its participants or their beneficiaries, through the purchase of insurance or otherwise, (A) medical, surgical, or hospital care or benefits, or benefits in the event of sickness, accident, disability, death or unemployment, or vacation benefits, apprenticeship or other training programs, or day care centers, scholarship funds, or prepaid legal services, or (B) any benefit described in [section 186(c) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section186/c&num=0&edition=prelim) (other than pensions on retirement or death, and insurance to provide such pensions).
(2)
(A) Except as provided in subparagraph (B), the terms “employee pension benefit plan” and “pension plan” mean any plan, fund, or program which was heretofore or is hereafter established or maintained by an employer or by an employee organization, or by both, to the extent that by its express terms or as a result of surrounding circumstances such plan, fund, or program—
(i) provides retirement income to employees, or
(ii) results in a deferral of income by employees for periods extending to the termination of covered employment or beyond,
regardless of the method of calculating the contributions made to the plan, the method of calculating the benefits under the plan or the method of distributing benefits from the plan. A distribution from a plan, fund, or program shall not be treated as made
Source: Supplied U.S. Code snapshot — release unconfirmed · 29 U.S.C. § 1002
Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
**(a) Minimum required contribution** For purposes of this section and [section 1082(a)(2)(A) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1082/a/2/A&num=0&edition=prelim), except as provided in subsection (f), the term “minimum required contribution” means, with respect to any plan year of a single-employer plan—
(1) in any case in which the value of plan assets of the plan (as reduced under subsection (f)(4)(B)) is less than the funding target of the plan for the plan year, the sum of—
(A) the target normal cost of the plan for the plan year,
(B) the shortfall amortization charge (if any) for the plan for the plan year determined under subsection (c), and
(C) the waiver amortization charge (if any) for the plan for the plan year as determined under subsection (e); or
(2) in any case in which the value of plan assets of the plan (as reduced under subsection (f)(4)(B)) equals or exceeds the funding target of the plan for the plan year, the target normal cost of the plan for the plan year reduced (but not below zero) by such excess.
**(b) Target normal cost** For purposes of this section:
(1) **In general** — Except as provided in subsection (i)(2) with respect to plans in at-risk status, the term “target normal cost” means, for any plan year, the excess of—
(A) the sum of—
(i) the present value of all benefits which are expected to accrue or to be earned under the plan during the plan year, plus
(ii) the amount of plan-related expenses expected to be paid from plan assets during the plan year, over
(B) the amount of mandatory employee contributions expected to be made during the plan year.
(2) **Special rule for increase in compensation** — For purposes of this subsection, if any benefit attribu
Source: Supplied U.S. Code snapshot — release unconfirmed · 29 U.S.C. § 1083
Stored review status: release_metadata_unconfirmed. Incoming connection: Explicit cross-reference supplied in source Markdown; currentness and applicability require review.