(a) Reportable event and information required. Advance notice is required for a transfer of benefit liabilities, as described in Sec. 4043.32(a) (determined without regard to Sec. 4043.32(d)), and the notice shall include the information described in Sec. 4043.32(b).
(b) Waivers. Notice is waived--
(1) In the circumstances described in Sec. 4043.32 (c)(1), (c)(2), and (c)(4); and
(2) If the benefit liabilities of 500 or fewer participants are transferred, in the circumstances described in Sec. 4043.32(c)(3).