PBGC makes international wire transfer payments directly to the accounts of customers living outside the United States who do not have a U.S. bank account. To receive your pension payment via international wire transfer, you must meet these paying agent requirements:
You must provide a signed letter from your financial institution. The letter must be on its official letterhead and written entirely in English. The following information must be included in the letter:
- Name and address of the financial institution.
- Name of the account holder (it must match name of person receiving a PBGC benefit.)
- Address of the bank account holder.
- Bank account number.
- The International Bank Account Number (IBAN) for the account holder.
- The IBAN identifies an individual account at a financial institution and is used to process transactions between institutions in different countries.
- The SWIFT (Society for Worldwide Interbank Financial Telecommunication) code for the financial institution, which permits the institution to transact wire transfers.
- If the financial institution submitting the letter does not use SWIFT code you must provide an explanation in writing.
- A written statement from your financial institution with the confirmation that they accept wire transfers in US dollars.
Send the letter to PBGC either via email, fax, or regular mail.
- Email: CustomerService@pbgc.gov.
- Regular mail:
Pension Benefit Guaranty Corporation
PO Box 151750
Alexandria, VA - 22315-1750 - Fax: 202-229-4047
Once PBGC receives and verifies the letter from your financial institution, we will start to pay your benefit through international wire transfers. You will receive your benefit in quarterly payments, paid in advance. After the first quarterly payment, we will make up any payments that you missed in the past.
If you have any questions, please feel free to contact CustomerService@pbgc.gov.
The following section provides an example of the required format for the letter from your financial institution.
SAMPLE LETTER FROM FINANCIAL INSTITUTION
BANK OFFICIAL LETTERHEAD
Date/Place
TO: Pension Benefit Guaranty Corporation – PBGC
PO Box 151750. Alexandria, VA 22315-1750.
We are writing to inform you that (NAME OF FINANCIAL INSTITUTION) will accept international wire transfers from PBGC on behalf of (NAME OF CUSTOMER).
We will accept transfers denominated in U.S. dollars.
Required information for international wire transfers:
- Account holder name: (Must match name of person receiving a PBGC benefit)
- Physical address of account holder: (Address of person receiving a PBGC benefit)
- Name of financial institution:
- International Bank Account Number (IBAN):
- Physical address of financial institution:
- SWIFT (Society for Worldwide Interbank Financial Telecommunication) code of financial institution: (If not applicable, explain it in writing)
INSERT SIGNATURE OF OFFICAL OF FINANCIAL INSTITUTION