identifies the issues addressed therein, and is provided at the time and with the frequency required for each such notice. (2) The Secretary of Labor and the Secretary of the Treasury may include in such regulations rules to ensure that, to the extent such notices are consolidated with the summary plan description or summary of material modifications, the presentation, placement, or prominence of the information in such notices shall not have the effect of failing to inform participants and beneficiaries regarding the information in such notices. (b) Provision of annual notices without regard to plan year (1) Clause (i) of section 404(c)(5)(B) of the Employee Retirement Income Security Act of 1974 ( 29 U.S.C. 1104(c)(5)(B) ) is amended— (A) in subclause (I) by striking within a reasonable period of time before each plan year, and inserting within a reasonable period before the arrangement described in subparagraph (A) applies to such participant or beneficiary, and thereafter at least once within any 12-month period (without regard to the plan year) during which such arrangement applies,