The premium to PBGC was underpaid in 1996. My company received the first notice of this in April 2001. Almost 5 years later. Anyone have any suggestions on getting the interest & penalties waived? PBGC is not budging. The interest and penalties amount to more than the premium owed. I cant see paying for something the PBGC never notified me on. 4.5 years ago, I might of considered paying the penalites and interest, but not now. I believe I should have been notifed then not now.