Continuing its program to simplify premium payment filings, the Pension Benefit Guaranty Corporation (PBGC) adopted final Regulations regarding the premium due date for small plans. Under the new Regulation, the premium due date for small plans will be 9 1/2 months after the beginning of the premium payment year. This date will correspond with the premium due dates for mid- and large-size plans and also correspond with the extended due date for filing Form 5500. The Regulation would allow small plans that determine their data as of the end of the plan year the determination of the variable rate premium using information and assumptions for the prior premium payment year. Under existing rules, a small plan that operates on a calendar year would file its 2014 premium by February 15, 2015, and, under the new Regulation, for the 2015 year by October 15, 2015. This would create the financial burden of filing two premiums in a single year. Under the new Regulation, the plan could elect a four-month extension for the 2015 premium so that the time between premium payments is a little more equally spaced. Also, in case of financial hardship, a penalty waiver would effectively allow for an additional two-month extension. (PBGC Final Rule)