Notice 2021-38 provides guidance under § 432(k) of the Code to sponsors of multiemployer defined benefit pension plans that are required to reinstate certain previously suspended benefits as a condition of receiving special financial assistance from the Pension Benefit Guaranty Corporation under § 9704 of the American Rescue Plan Act of 2021. The notice also provides guidance on whether make-up payments with respect to previously suspended benefits are eligible to be rolled over to another eligible retirement plan under § 402(c), and the extent to which any special financial assistance received by the plan is not taken into account in determining contributions required under § 431.