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Late Premium Payment Interest Charges

Last Updated:

ERISA section 4006 provides that interest on late PBGC premiums accrue at the rate imposed under section 6601(a) of the Code (the rate for late payment of taxes), compounded daily.  These rates are published by the IRS and are subject to change quarterly.

The same rates are also used to compute certain interest charges applicable when PBGC trustees a plan (e.g., interest on required contributions unpaid as of the termination date).

NOTE:

  • In addition to interest charges on late premium payments, penalty charges may also apply. See our Late Payment Charges web page for more information.
  • Prior to 1983, simple interest applied.
  • Prior to 1987, IRS published these rates less frequently than quarterly.

2024

Time Period Interest Rate
Jan. 1, 2024 thru Mar. 31, 2024 8%
Apr. 1, 2024 thru June 30, 2024 8%
July 1, 2024 thru Sep. 30, 2024 8%
Oct. 1, 2024 thru Dec. 31, 2024 8%

2023

Time Period Interest Rate
Jan. 1, 2023 thru Mar. 31, 2023 7%
Apr. 1, 2023 thru June 30, 2023 7%
July 1, 2023 thru Sep. 30, 2023 7%
Oct. 1, 2023 thru Dec. 31, 2023 8%

2022

Time Period Interest Rate
Jan. 1, 2022 thru Mar. 31, 2022 3%
Apr. 1, 2022 thru June 30, 2022 4%
July 1, 2022 thru Sep. 30, 2022 5%
Oct. 1, 2022 thru Dec. 31, 2022 6%

2021

Time Period Interest Rate
Jan. 1, 2021 thru Mar. 31, 2021 3%
Apr. 1, 2021 thru June 30, 2021 3%
July 1, 2021 thru Sep. 30, 2021 3%
Oct. 1, 2021 thru Dec. 31, 2021 3%

2020

Time Period Interest Rate
Jan. 1, 2020 thru Mar. 31, 2020 5%
Apr. 1, 2020 thru June 30, 2020 5%
July 1, 2020 thru Sep. 30, 2020 3%
Oct. 1, 2020 thru Dec. 31, 2020 3%

2019

Time Period Interest Rate
Jan. 1, 2019 thru Mar. 31, 2019 6%
Apr. 1, 2019 thru June 30, 2019 6%
July 1, 2019 thru Sep. 30, 2019 5%
Oct. 1, 2019 thru Dec. 31, 2019 5%

 

2018

Time Period Interest Rate
Jan. 1, 2018 thru Mar. 31, 2018 4%
Apr. 1, 2018 thru June 30, 2018 5%
July 1, 2018 thru Sep. 30, 2018 5%
Oct. 1, 2018 thru Dec. 31, 2018 5%

 

2017

Time Period Interest Rate
Jan. 1, 2017 thru Mar. 31, 2017 4% 
Apr. 1, 2017 thru June 30, 2017 4%
July 1, 2017 thru Sep. 30, 2017 4%
Oct. 1, 2017 thru Dec. 31, 2017 4%

 

2016

Time Period Interest Rate
Jan. 1, 2016 thru Mar. 31, 2016 3%
Apr. 1, 2016 thru June 30, 2016 4%
July 1, 2016 thru Sep. 30, 2016 4%
Oct. 1, 2016 thru Dec. 31, 2016 4%

 

2015

Time Period Interest Rate
Jan. 1, 2015 thru Mar. 31, 2015  3%
Apr. 1, 2015 thru June 30, 2015   3%
July 1, 2015 thru Sep. 30, 2015   3%
Oct. 1, 2015 thru Dec. 31, 2015   3%

 

2014

Time Period Interest Rate
Jan. 1, 2014 thru Mar. 31, 2014  3%
Apr. 1, 2014 thru June 30, 2014  3%
Jul. 1, 2014 thru Sep. 30, 2014  3%
Oct. 1, 2014 thru Dec. 31, 2014  3%

 

2013

Time Period Interest Rate
Jan. 1, 2013 thru Mar. 31, 2013  3%
Apr. 1, 2013 thru June 30, 2013  3%
Jul. 1, 2013 thru Sep. 30, 2013  3%
Oct. 1, 2013 thru Dec. 31, 2013  3%

 

2012

Time Period Interest Rate
Jan. 1, 2012 thru Mar. 31, 2012  3%
Apr. 1, 2012 thru June 30, 2012  3%
Jul. 1, 2012 thru Sep. 30, 2012  3%
Oct. 1, 2012 thru Dec. 31, 2012  3%

 

2011

Time Period Interest Rate
Jan. 1, 2011 thru Mar. 31, 2011  3%
Apr. 1, 2011 thru June 30, 2011  4%
Jul. 1, 2011 thru Sep. 30, 2011  4%
Oct. 1, 2011 thru Dec. 31, 2011  3%

 

2010

Time Period Interest Rate
Jan. 1, 2010 thru Mar. 31, 2010  4%
Apr. 1, 2010 thru June 30, 2010  4%
Jul. 1, 2010 thru Sep. 30, 2010  4%
Oct. 1, 2010 thru Dec. 31, 2010  4%

 

2009

Time Period Interest Rate
Jan. 1, 2009 thru Mar. 31, 2009  5%
Apr. 1, 2009 thru June 30, 2009  4%
Jul. 1, 2009 thru Sep. 30, 2009  4%
Oct. 1, 2009 thru Dec. 31, 2009  4%

 

2008

Time Period Interest Rate
Jan. 1, 2008 thru Mar. 31, 2008  7%
Apr. 1, 2008 thru June 30, 2008  6%
Jul. 1, 2008 thru Sep. 30, 2008  5%
Oct. 1, 2008 thru Dec. 31, 2008  6%

 

2007

Time Period Interest Rate
Jan. 1, 2007 thru Mar. 31, 2007  8%
Apr. 1, 2007 thru June 30, 2007  8%
Jul. 1, 2007 thru Sep. 30, 2007  8%
Oct. 1, 2007 thru Dec. 31, 2007  8%

 

2006

Time Period Interest Rate
Jan. 1, 2006 thru Mar. 31, 2006  7%
Apr. 1, 2006 thru June 30, 2006  7%
Jul. 1, 2006 thru Sep. 30, 2006  8%
Oct. 1, 2006 thru Dec. 31, 2006  8%

 

2005

Time Period Interest Rate
Jan. 1, 2005 thru Mar. 31, 2005  5%
Apr. 1, 2005 thru June 30, 2005  6%
Jul. 1, 2005 thru Sep. 30, 2005  6%
Oct. 1, 2005 thru Dec. 31, 2005  7%

 

2004

Time Period Interest Rate
Jan. 1, 2004 thru Mar. 31, 2004  4%
Apr. 1, 2004 thru June 30, 2004  5%
Jul. 1, 2004 thru Sep. 30, 2004  4%
Oct. 1, 2004 thru Dec. 31, 2004  5%

 

2003

Time Period Interest Rate
Jan. 1, 2003 thru Mar. 31, 2003  5%
Apr. 1, 2003 thru June 30, 2003  5%
Jul. 1, 2003 thru Sep. 30, 2003  5%
Oct. 1, 2003 thru Dec. 31, 2003  4%

 

2002

Time Period Interest Rate
Jan. 1, 2002 thru Mar. 31, 2002  6%
Apr. 1, 2002 thru June 30, 2002  6%
Jul. 1, 2002 thru Sep. 30, 2002  6%
Oct. 1, 2002 thru Dec. 31, 2002  6%

 

2001

Time Period Interest Rate
Jan. 1, 2001 thru Mar. 31, 2001  9%
Apr. 1, 2001 thru Jun. 30, 2001  8%
Jul. 1, 2001 thru Sep. 30, 2001  7%
Oct. 1, 2001 thru Dec. 31, 2001  7%

 

2000

Time Period Interest Rate
Jan. 1, 2000 thru Mar. 31, 2000  8%
Apr. 1, 2000 thru Jun. 30, 2000  9%
July 1, 2000 thru Sep. 30, 2000  9%
Oct. 1, 2000 thru Dec. 31, 2000  9%

 

1999

Time Period Interest Rate
Jan. 1, 1999 thru Mar. 31, 1999  7%
Apr. 1, 1999 thru Jun. 30, 1999  8%
Jul. 1, 1999 thru Sep. 30, 1999  8%
Oct. 1, 1999 thru Dec. 31, 1999  8%

 

1998

Time Period Interest Rate
Jan. 1, 1998 thru Mar. 31, 1998  9%
Apr. 1, 1998 thru June 30, 1998  8%
July 1, 1998 thru Sept. 30, 1998  8%
Oct. 1, 1998 thru Dec. 31, 1998  8%

 

1997

Time Period Interest Rate
Jan. 1, 1997 thru Mar. 31, 1997  9%
Apr. 1, 1997 thru June 30, 1997  9%
July 1, 1997 thru Sep. 30, 1997  9%
Oct. 1, 1997 thru Dec. 31, 1997  9%

 

1996

Time Period Interest Rate
Jan. 1, 1996 thru Mar. 31, 1996  9%
Apr. 1, 1996 thru June 30, 1996  8%
July 1, 1996 thru Sep. 30, 1996  9%
Oct. 1, 1996 thru Dec. 31, 1996  9%

 

1995

Time Period Interest Rate
Jan. 1, 1995 thru Mar. 31, 1995  9%
Apr. 1, 1995 thru June 30, 1995  10%
July 1, 1995 thru Sep. 30, 1995  9%
Oct. 1, 1995 thru Dec. 31, 1995  9%

 

1994

Time Period Interest Rate
Jan. 1, 1994 thru Mar. 31, 1994  7%
Apr. 1, 1994 thru June 30, 1994  7%
July 1, 1994 thru Sep. 30, 1994  8%
Oct. 1, 1994 thru Dec. 31, 1994  9%

 

1993

Time Period Interest Rate
Jan. 1, 1993 thru Mar. 31, 1993  7%
Apr. 1, 1993 thru June 30, 1993  7%
July 1, 1993 thru Sep. 30, 1993  7%
Oct. 1, 1993 thru Dec. 31, 1993  7%

 

1992

Time Period Interest Rate
Jan. 1, 1992 thru Mar. 31, 1992  9%
Apr. 1, 1992 thru June 30, 1992  8%
July 1, 1992 thru Sep. 30, 1992  8%
Oct. 1, 1992 thru Dec. 31, 1992  7%

 

1991

Time Period Interest Rate
Jan. 1, 1991 thru Mar. 31, 1991  11%
Apr. 1, 1991 thru June 30, 1991  10%
July 1, 1991 thru Sep. 30, 1991  10%
Oct. 1, 1991 thru Dec. 31, 1991  10%

 

1990

Time Period Interest Rate
Jan. 1, 1990 thru Mar. 31, 1990  11%
Apr. 1, 1990 thru June 30, 1990  11%
July 1, 1990 thru Sep. 30, 1990  11%
Oct. 1, 1990 thru Dec. 31, 1990  11%

 

1989

Time Period Interest Rate
Jan. 1, 1989 thru Mar. 31, 1989  11%
Apr. 1, 1989 thru June 30, 1989  12%
July 1, 1989 thru Sep. 30, 1989  12%
Oct. 1, 1989 thru Dec. 31, 1989  11%

 

1988

Time Period Interest Rate
Jan. 1, 1988 thru Mar. 31, 1988  11%
Apr. 1, 1988 thru June 30, 1988  10%
July 1, 1988 thru Sep. 30, 1988  10%
Oct. 1, 1988 thru Dec. 31, 1988  11%

 

Dec. 1987 - Jan. 1986

Time Period Interest Rate
Jan. 1, 1986 thru June 30, 1986  10%
July 1, 1986 thru Sep. 30, 1987  9%
Oct. 1, 1987 thru Dec. 31, 1987  10%

 

1985

Time Period Interest Rate
Jan. 1, 1985 thru June 30, 1985  13%
July 1, 1985 thru Dec. 31, 1985  11%

 

Dec. 1984 - Jan. 1983

Time Period Interest Rate
July 1, 1983 thru Dec. 31, 1984  11%
Jan. 1, 1983 thru June 30, 1983  16%

 

Feb. - Dec. 1982

Time Period Interest Rate
Feb. 1, 1982 thru Dec. 31, 1982  20%

 

Jan. 1982 - Feb. 1980

Time Period Interest Rate
Feb. 1, 1980 thru Jan. 31, 1982  12%

 

Jan. 1980 - Feb. 1978

Time Period Interest Rate
Feb. 1, 1978 thru Jan. 31, 1980  6%

 

Jan. 1978 - Feb. 1976

Time Period Interest Rate
Feb. 1, 1976 thru Jan. 31, 1978  7%

 

Jan. 1976 - July 1975

Time Period Interest Rate
July 1, 1975 thru Jan. 31, 1976  9%

 

June 1975 - Sept. 1974

Time Period Interest Rate
Sept.2, 1974 thru June 30, 1975  6%