UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 11-K

 

ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

 

(Mark One)

 

 

For the transition period from          to         

 

 

Commission File Number 002-39822

 

 

 

EQUIFAX INC.

1550 Peachtree Street, N.W.

Atlanta, Georgia 30309

 

 

 

Required Information

 

Pursuant to the section of the General Instructions to Form 11-K entitled “Required Information,” this Annual Report on Form 11-K for the fiscal year ended December 31, 2008 consists of the audited financial statements of the Equifax Inc. 401(k) Plan (the “Plan”) for the years ended December 31, 2008 and 2007, and the related schedule thereto as of December 31, 2008. The Plan is subject to the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and, in accordance with Item 4 of the section of the General Instructions to Form 11-K entitled “Required Information,” the financial statements and schedule have been prepared in accordance with the financial reporting requirements of ERISA in lieu of the requirements of Items 1-3 of that section of the General Instructions.

 

FINANCIAL STATEMENTS AND EXHIBIT

 

(a)  FINANCIAL STATEMENTS
Report of Independent Registered Public Accounting Firm
Financial Statements As of and for the Years Ended December 31, 2008 and 2007
Statements of Net Assets Available for Benefits
Statement of Changes in Net Assets Available for Benefits
Notes to Financial Statements
Supplemental Schedule As of December 31, 2008*
Schedule H, Line 4i—Schedule of Assets (Held at End of Year)
Signature
(b)  Index to Exhibits
Exhibit 23 - Consent of Smith & Howard, Independent Registered Public Accounting Firm

 

*       All other schedules required by 29 CFR 2520.103-10 of the Department of Labor’s Rules and Regulations for Reporting and Disclosure under ERISA are not included because they are not applicable.

 

1

 

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

 

To the Equifax Inc. Group Plans Administrative Committee

Equifax Inc. 401(k) Plan:

 

We have audited the accompanying statement of net assets available for plan benefits of the Equifax Inc. 401(k) Plan (the “Plan”) as of December 31, 2008 and 2007, and the related statement of changes in net assets available for plan benefits for the year ended December 31, 2008. These financial statements are the responsibility of the Plan’s management.  Our responsibility is to express an opinion on these financial statements based on our audits.

 

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement. The Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Plan’s internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

 

In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for plan benefits of the Plan as of December 31, 2008 and 2007, and the changes in net assets available for plan benefits for the year ended December 31, 2008 in conformity with accounting principles generally accepted in the United States of America.

 

Our audits were performed for the purpose of forming an opinion on the basic financial statements taken as a whole. The accompanying supplemental schedule listed in the table of contents is presented for the purpose of additional analysis and is not a required part of the basic financial statements but is supplementary information required by the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. This supplemental schedule is the responsibility of the Plan’s management. The supplemental schedule has been subjected to the auditing procedures applied in the audits of the basic financial statements and, in our opinion, is fairly stated in all material respects in relation to the basic financial statements taken as a whole.

 

 

/s/ Smith & Howard
Atlanta, GA
June 18, 2009

 

 

2

 

EQUIFAX, INC. 401(k) PLAN

STATEMENT OF NET ASSETS AVAILABLE FOR PLAN BENEFITS

DECEMBER 31, 2008 AND 2007

 

		2008			2007
Assets
Investments, at fair value		$	206,722,026		$	249,444,766
Participant contribution receivable		—			3,552
Company contribution receivable		6,683,648			4,824,388
Accrued income		752			2,699
Other receivable		—			1,578
Net assets reflecting all investments at fair value		213,406,426			254,276,983
Adjustment From Fair Value to Contract Value for Fully Benefit-Responsive Investment Contracts		774,928			—
Net Assets Available for Plan Benefits		$	214,181,354		$	254,276,983

 

The accompanying notes are an integral part of these financial statements.

 

3

 

EQUIFAX, INC. 401(k) PLAN

STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR PLAN BENEFITS

YEAR ENDED DECEMBER 31, 2008

 

Contributions:
Employer		$	6,739,176
Participant		21,755,410
Rollovers		1,136,533
		29,631,119
Investment Income (Loss):
Interest and dividend income		7,745,468
Interest on participant loans		363,124
Net depreciation in fair value of investments		(96,217,286		)
		(88,108,694		)
Expenses:
Administrative and other expenses		(34,334		)
Benefits paid to participants		(30,008,583		)
		(30,042,917		)
Decrease in Net Assets		(88,520,492		)
Transfers In		48,424,863
Net Assets Available for Plan Benefits at Beginning of Year		254,276,983
Net Assets Available for Plan Benefits at End of Year		$	214,181,354

 

The accompanying notes are an integral part of these financial statements.

 

4

 

EQUIFAX INC. 401(k) PLAN

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2008 AND 2007

 

NOTE 1 - DESCRIPTION OF THE PLAN

 

General

 

The following brief description of the Equifax Inc. 401(k) Plan (the “Plan”) is provided for general informational purposes only. Participants should refer to the Plan document, summary plan description and other materials distributed to Plan participants for more detailed information.

 

The Plan is a defined contribution plan which is subject to the provisions of the Employee Retirement Income Security Act of 1974 (“ERISA”), as amended. All U.S. salaried employees of the participating companies of Equifax Inc. and its subsidiaries (“Equifax” or the “Company”) are eligible to participate in the Plan immediately upon employment.

 

On May 15, 2007, Equifax Inc. purchased all of the common stock of TALX Corporation (“TALX”), a publicly traded company. Effective January 1, 2008, the TALX Corporation Savings and Retirement Plan (“TALX Plan”) was merged with the Equifax Plan and $48,424,863 in assets were transferred into the Plan.

 

Contributions

 

Each participant may make contributions from 1% to 30% of his/her total compensation (base salary only for highly compensated employees) through payroll deductions on a pre-tax and/or an after-tax basis, subject to certain limits. In addition, participants who are eligible to make contributions under the Plan and who have attained age 50 before the end of the Plan year are eligible to make catch-up contributions, as defined, subject to certain limits. These contributions are not eligible for Company matching contributions.

 

The Company may make a discretionary matching contribution of some percentage of the first 6% of salary contributed by each participant during the Plan year. The match percentage for the 2008 Plan year was 50%. Matching contributions are invested according to Company match investment elections or the participant pre-tax investment elections.  If no investment elections are on file, matching contributions are invested into the Fidelity Freedom Funds based on the ages of the affected participants.  Matching of after-tax contributions are net of any in-service after-tax withdrawals, without regard to roll-over contributions, either deposited or withdrawn. Company contributions shall not exceed the maximum amount which, together with Company contributions to the Equifax Inc. Pension Plan for a Plan year, is deductible under the Internal Revenue Code (the “IRC”) or such other federal income tax statutory provision as may be applicable. In addition, a participant must be actively employed or on an approved leave of absence by the Company on December 31 to receive the matching contribution for that Plan year, unless termination prior to December 31 is due to attainment of age 65, retirement, disability or death.

 

5

 

EQUIFAX INC. 401(k) PLAN

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2008 AND 2007

 

NOTE 1 — DESCRIPTION OF THE PLAN (Continued)

 

Vesting

 

Participants’ accounts (including all Company and employee contributions and earnings thereon) are at all times vested with such participants.

 

Administration

 

The trustee of the Plan is Fidelity Management Trust Company (“Trustee” or “Fidelity”). Fidelity Investments Institutional Operations Company, Inc. performs participant record keeping and other administrative duties for the Plan. The Equifax Inc. Group Plans Administrative Committee is comprised of employees of Equifax Inc. appointed by the Compensation, Human Resources and Management Succession Committee of the Company’s Board of Directors and oversees the Plan’s assets and operations.

 

Investment Options

 

The participants may direct their elective deferrals in and among various investment options. Participants may change their investment elections and transfer money between investment options on a daily basis. The investment options consist of publicly traded mutual funds, including various mutual funds managed by Fidelity or a Fidelity affiliate as well as one collective trust. In addition, the participants may elect to invest their contributions in Equifax Inc. common stock through a unitized fund, the Equifax Stock Fund, which includes an investment in a money market fund for liquidity purposes. However, a participant could make transfers out of this fund into one of the other available Plan investment options at any time.

 

Benefits

 

Prior to a participant attaining age 59½, in-service withdrawals from the pre-tax portion of a participant’s account are permitted only on the basis of financial hardship. Once participants attain age 59½, they may withdraw up to 100% of their account in one or more withdrawals. Once a participant’s employment with the Company ceases due to termination of employment, retirement, death, or disability, and upon the election of the participant, the Plan will distribute to the participant 100% of the participant’s account balance. This lump-sum distribution is payable in cash, Equifax Inc. common stock, or any combination thereof at the participant’s election.

 

If a participant’s account balance is less than $1,000 upon retirement or termination, a distribution of the participant’s account will be made automatically. A voluntary lump sum distribution option is available to the participant for balances over $1,000 but less than $5,000.

 

6

 

EQUIFAX INC. 401(k) PLAN

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2008 AND 2007

 

NOTE 1 - DESCRIPTION OF THE PLAN (Continued)

 

Benefits (Continued)

 

The after-tax portion of a participant’s account balance is available for withdrawal at any time.

 

Participant Accounts

 

Individual accounts are maintained for each of the Plan’s participants to reflect the participant’s share of the Plan’s net earnings or losses, Company contributions, and the participant’s contributions. Allocations of earnings or losses are based on relative account balances and investment elections, as defined.

 

Loans to Participants

 

The Plan permits loans to be made to participants which are secured by balances in the participant’s account. Participants are permitted to have two loans outstanding at a time, and the minimum loan amount is $1,000. Loans may generally be taken up to 50% of a participant’s account balance but not exceeding $50,000 in the aggregate. Loans are generally repaid through payroll deductions with a 5-year maximum limit, except for loans for home purchases which may have terms up to 15 years. Interest rates are set at the date of the loan at a rate equal to prime plus 1% on the first day of the calendar quarter in which the loan is taken. Loan fees for setup and maintenance are paid by the participant.

 

Plan Termination

 

The Company has the right under the Plan to discontinue its contributions at any time and otherwise amend or terminate the Plan at any time subject to the provisions of ERISA. In the event of Plan termination, the interests of the participants shall be non-forfeitable on the termination date and these amounts and related investment income will be distributed to participants as soon as administratively feasible as required by ERISA.

 

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

 

Basis of Presentation

 

The financial statements of the Plan have been prepared on the accrual basis of accounting.

 

7

 

EQUIFAX INC. 401(k) PLAN

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2008 AND 2007

 

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

 

Reclassifications

 

Certain reclassifications have been made to the 2007 financial statements to conform to the presentation used in the 2008 financial statements.

 

New Accounting Pronouncement

 

In September 2006, the Financial Accounting Standards Board (“FASB”) issued SFAS 157, Fair Value Measurements.  SFAS 157 defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. SFAS 157 applies to reporting periods beginning after November 15, 2007. As of January 1, 2008, the Plan has adopted SFAS 157.  See Note 3 - “Fair Value Measurements” - for disclosures provided for fair value measurements of Plan investments.  The adoption of SFAS 157 did not have any impact on the Plan’s financial statements.

 

Investment Valuation and Income (Loss) Recognition

 

The investments of the Plan are reported at fair value. The fair value of a financial instrument is the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (the exit price).

 

Mutual Funds

 

Mutual funds represent investments with various investment managers. The fair values of these investments are determined by reference to the fund’s underlying assets, which are principally marketable equity and fixed income securities. Shares held in mutual funds traded on national securities exchanges are valued at the net asset value as of December 31, 2008 and 2007.

 

Collective Trust Fund

 

The Managed Income Portfolio is a common collective trust fund that is valued at the net asset value based on the last reported sales price of the underlying investments held. The Plan’s interest in the collective trust is based on information reported by the investment advisor using the audited financial statements of the collective trust at year-end. The investment income is allocated to participants based on their proportionate share of the net assets of the fund.

 

8

 

EQUIFAX INC. 401(k) PLAN

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2008 AND 2007

 

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

 

Investment Valuation and Income (Loss) Recognition (Continued)

 

Collective Trust Fund (Continued)

 

As described in FASB Staff Position Nos. AAG INV-1 and SOP 94-4-1, Reporting of Fully Benefit-Responsive Investment Contracts Held by Certain Investment Companies Subject to the AICPA Investment Company Guide and Defined-Contribution Health and Welfare and Pension Plans (the “FSP”), investment contracts held by a defined-contribution plan are required to be reported at fair value. The Plan adopted FSP AAG INV-1 in 2006. In 2007, the adoption did not have a material effect on the Plan’s financial statements. Accordingly, contract value approximated fair value at December 31, 2007.  As required by the FSP, the statement of net assets available for plan benefits as of December 31, 2008 presents the fair value of the investment contracts with a separate line item to adjust from fair value to contract value. The contracts are fully benefit-responsive.

 

Equifax Stock Fund

 

The Equifax Stock Fund (the “Fund”) is a unitized fund which includes Equifax Inc. common stock and an investment in an interest-bearing cash account for liquidity purposes.  The total value of the Fund at any point in time is equal to the total market value of the common stock in the Fund plus the amount of cash.  Each unit represents the ownership of both common shares and a small amount of cash.

 

Investments in Traded Active Markets

 

Equifax Inc. common stock is valued at the quoted market prices as obtained from the New York Stock Exchange.  Securities transactions are accounted for on the trade date.  Interest income is recorded on an accrual basis.  Dividend income is recorded on the ex-dividend date.

 

Cash and Short-Term Investments

 

Cash and short-term investments include cash and short-term interest-bearing investments with initial maturities of three months or less. Such amounts are recorded at cost, plus accrued interest.

 

9

 

EQUIFAX INC. 401(k) PLAN

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2008 AND 2007

 

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

 

Investment Valuation and Income Recognition (Continued)

 

Money Market Mutual Funds

 

Money market mutual funds are valued using the amortized cost or penny rounding method as permitted by Rule 2a-7 under the Investment Company Act of 1940, which approximates their fair value.

 

Other

 

The carrying amount of receivables is a reasonable approximation of the fair value due to the short-term nature of these instruments.

 

Participant loans are carried at their outstanding cost balances, which approximates fair value. Loan interest income is allocated to the investment funds according to the participant’s current investment elections.

 

Payment of Benefits

 

Benefit payments made to participants are recorded when paid.

 

Use of Estimates and Assumptions

 

The accompanying financial statements are prepared in conformity with accounting principles generally accepted in the United States of America and require the Plan’s management to make estimates and assumptions that affect the reported amounts of assets available for plan benefits at the dates of the financial statements, and the reported amounts of additions and deductions during the reporting period. Significant judgment is required in making these estimates and assumptions and is based on the best available information. Actual results could be materially different from those estimates and assumptions.

 

Administrative Expenses

 

All expenses for the administration of the Plan, except for brokerage commissions and related expenses on security transactions and loan fees, are paid by the Company. The expenses for administration include the fees and expenses of the Plan’s Trustee.

 

10

 

EQUIFAX INC. 401(k) PLAN

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2008 AND 2007

 

NOTE 3 — FAIR VALUE MEASUREMENTS

 

As of the beginning of the fiscal year ended December 31, 2008, the Plan adopted SFAS 157 which establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurement) and the lowest priority to unobservable inputs in which little or no market data exists (Level 3 measurements). The three levels of the fair value hierarchy under SFAS 157 are described below:

 

Basis of Fair Value Measurement

 

Level 1 - Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities;

 

Level 2 - Quoted prices in markets that are not considered to be active or financial instruments for which all significant inputs are observable, either directly or indirectly;

 

Level 3 - Prices or valuations that require inputs that are both significant to the fair value measurement and unobservable.

 

A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement.

 

The following tables set forth by level within the fair value hierarchy the Plan investment assets and investment liabilities at fair value, as of December 31, 2008. As required by SFAS 157, assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.

 

Total Plan investment assets at fair value classified within Level 3 were $5,047,362, as of December 31, 2008, which consists of the Participant Loans. Such amounts were 3% of total investments as of December 31, 2008.  The table below represents fair value measurement hierarchy of the plan investment assets at fair value as of December 31, 2008:

 

		Level 1			Level 2			Level 3			Total
Mutual funds		$	151,113,929		$	—		$	—		$	151,113,929
Equifax common stock		35,780,970			—			—			35,780,970
Cash, interest-bearing		413,813			—			—			413,813
Collective trust fund		—			14,365,952			—			14,365,952
Participant loans		—			—			5,047,362			5,047,362
		$	187,308,712		$	14,365,952		$	5,047,362		$	206,722,026

 

Level 3 Gains and Losses

 

The table below sets forth a summary of changes in the fair value of the Plan’s Level 3 investment assets for the year ended December 31, 2008.

 

Participant Loans:
Balance, beginning of year		$	2,782,623
Issuances and repayments, net		2,264,739
Balance, end of year		$	5,047,362

 

11

 

EQUIFAX INC. 401(k) PLAN

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2008 AND 2007

 

NOTE 4 — SIGNIFICANT INVESTMENTS

 

The fair value of individual investments that represent 5% or more of the Plan’s net assets as of December 31 are as follows:

 

		2008			2007
Equifax Inc. common stock participant-directed		$	35,780,970		$	51,898,482
Fidelity Managed Income Portfolio		14,365,952			12,839,756
Spartan® U.S. Equity Index Fund		19,631,709			32,385,738
Fidelity Low-Priced Stock Fund		(*		)	14,239,598
Fidelity Value Fund		(*		)	18,794,776
Fidelity Diversified International		(*		)	15,159,742
Fidelity Retirement Government Money Market		18,432,027			12,632,617

 

Individual investments noted with a (*) above did not represent 5% or more, as defined, of the Plan’s net assets in 2008.

 

The net depreciation in the fair value of investments (including gains and losses on investments bought and sold, as well as held during the period) and interest and dividends for the year ended December 31, 2008 are as follows:

 

		Net Depreciation			Interest and Dividends
Money market funds		$	—		$	384,097
Common/collective trusts		—			465,497
Equifax Inc. common stock		(13,144,440		)	—
Mutual funds		(83,072,846		)	6,895,874
		$	(96,217,286	)	$	7,745,468

 

Additional information concerning the above listed investments is contained in the prospectuses and financial statements of the funds.

 

12

 

EQUIFAX INC. 401(k) PLAN

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2008 AND 2007

 

NOTE 5 - RISKS AND UNCERTAINTIES

 

The Plan provides for various investment options which include investments in any combination of equities, fixed income securities, money market funds and guaranteed investment contracts. Investment securities are exposed to various risks, such as interest rate, market and credit risk. Due to the level of risk associated with certain investments and the level of uncertainty related to changes in the value of investment securities, it is possible that changes in risks in the near term could materially affect participants’ account balances and the amounts reported in the statements of net assets available for plan benefits and the statement of changes in net assets available for plan benefits.

 

NOTE 6 - FEDERAL INCOME TAX STATUS

 

The Plan has received a determination letter from the Internal Revenue Service dated August 15, 2003 stating that the Plan is qualified under Section 401(a) of the IRC and, therefore, the related trust is exempt from federal taxation. Subsequent to this determination by the Internal Revenue Service, the Plan was amended. Once qualified, the Plan is required to operate in conformity with the IRC to maintain its qualification. The Plan sponsor believes that the Plan is currently designed and operated in compliance with the applicable requirements of the IRC and the Plan and related trust continue to be exempt from federal income taxes.

 

NOTE 7 — PARTY-IN-INTEREST TRANSACTIONS

 

The Plan allows for transactions with certain parties who may perform services or have fiduciary responsibilities to the Plan, including the Company.

 

The Plan held approximately 1,349,207 and 1,427,351 shares of Equifax Inc. common stock at December 31, 2008 and 2007, respectively, with a market value of $35,780,970 and $51,898,482, respectively. Dividends received by the Plan include dividends paid by Equifax Inc. All transactions in Equifax Inc. common stock held within the Equifax Stock Fund qualify as related-party transactions since Equifax Inc. is the Plan sponsor.

 

The Plan issues loans to participants, which are secured by the balances in the participants’ accounts. These transactions qualify as party-in-interest transactions.

 

The Plan offers investments in mutual funds and the collective trust issued by affiliates of the Trustee. These Fidelity affiliates receive investment management fees related to these mutual funds and collective trust prior to any fund and/or trust being allocated investment earnings or losses.

 

13

 

EQUIFAX INC. 401(k) PLAN

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2008 AND 2007

 

NOTE 8 - RECONCILIATION OF FINANCIAL STATEMENTS TO FORM 5500

 

As of December 31, 2008 and 2007, $1,989 and $11,279, respectively, were payable to participants who had requested distributions or withdrawals which were processed and approved for payment prior to year-end, but not paid until the following year. These amounts are recorded as liabilities on the Plan’s Form 5500, but are recorded when paid in the Plan financial statements. Also, fully benefit-responsive contracts are recorded on the Form 5500 at fair value but are recorded at contract value in the Plan financial statements. The following is a reconciliation of net assets available for plan benefits per the financial statements to the amounts reflected in the Form 5500 as filed by the Company as of December 31:

 

		2008			2007
Net assets available for plan benefits per the financial statements		$	214,181,354		$	254,276,983
Benefits payable		(1,989		)	(11,279		)
Adjustment from contract value to fair value for fully benefit-responsive investment contracts		(774,928		)	—
Net assets available for plan benefits per Form 5500		$	213,404,437		$	254,265,704

 

The following is a reconciliation of total investment loss and expenses per the Plan financial statements to the amounts reflected in the Form 5500 as filed by the Company for the year ended of December 31, 2008:

 

Total investment loss per the financial statements		$	(88,108,694	)
Less: Adjustment from contract value to fair value for fully benefit-responsive investment contracts at December 31, 2008		(774,928		)
Total investment loss per Form 5500		$	(88,883,622	)

 

Total expenses per the financial statements		$	30,042,917
Add:  Adjustment for benefits payable at December 31, 2008		1,989
Less:  Adjustment for benefits payable at December 31, 2007		(11,279		)
Total expenses per Form 5500		$	30,033,627

 

14

 

EQUIFAX INC. 401(k) PLAN

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2008 AND 2007

 

NOTE 9 - SUBSEQUENT EVENTS

 

Effective for the 2009 Plan year, Equifax Inc. changed the Company matching formula to 100% of the first 4% of compensation unless the employee is grandfathered into the Equifax Inc. Pension Plan. If the employee is grandfathered into the Equifax Inc. Pension Plan, the Company match is 50% on the first 6%.

 

A direct Company contribution was also added to the Plan effective for the 2009 Plan year for non-grandfathered employees. The direct contribution ranges from 1.5% to 4% of compensation based upon the employee’s credited years of service with the Company. The direct Company contribution is subject to a three year “cliff” vesting schedule.

 

15

 

SUPPLEMENTAL SCHEDULE

 

16

 

EQUIFAX INC. 401(k) PLAN

SCHEDULE H, LINE 4i — SCHEDULE OF ASSETS (HELD AT END OF YEAR)

DECEMBER 31, 2008

 

EMPLOYER IDENTIFICATION NUMBER: 58-0401110

PLAN NUMBER: 003

FORM: 5500

 

		(b)
		Identity of issue,		(c)
		borrower, lessor, or		Description of investment including maturity date, rate of		(d)		(e)
(a)		similar party		interest, collateral, par or maturity value		Cost		Market Value
		ABF		International Equity PA		N/A		$	3,711,275
		Morgan Stanley Instl		U.S. Large Cap Growth		N/A		6,038,002
		Morgan Stanley Instl		Midcap Growth Adv		N/A		4,787,438
		Morgan Stanley Instl		Emerging Markets		N/A		2,451,448
		PIMCO		Total Return Instl		N/A		9,478,456
		RS Partners		Small Cap Blend		N/A		2,477,340
				Employer Stock Fund
*		Equifax		Equifax Inc. Common Stock		N/A		35,780,970
*		Fidelity		Interest Bearing Cash		N/A		413,813
*		Fidelity		Real Estate		N/A		724,391
*		Fidelity		Equity Income		N/A		7,906,799
*		Fidelity		Value		N/A		10,217,011
*		Fidelity		Asset Manager		N/A		6,203,920
*		Fidelity		Low-Priced Stock		N/A		8,326,269
*		Fidelity		Asset Manager: Growth		N/A		5,465,150
*		Fidelity		Diversified International		N/A		9,969,068
*		Fidelity		Freedom Income		N/A		1,811,249
*		Fidelity		Freedom 2000		N/A		600,953
*		Fidelity		Freedom 2010		N/A		4,174,658
*		Fidelity		Freedom 2020		N/A		6,623,207
*		Fidelity		Freedom 2030		N/A		6,696,716
*		Fidelity		Freedom 2040		N/A		2,267,501
*		Fidelity		Freedom 2050		N/A		3,666,472
*		Fidelity		Retirement Government Money Market		N/A		18,432,027
*		Fidelity		Managed Income Portfolio		N/A		14,365,952
*		Fidelity		Spartan® US Equity Index		N/A		19,631,709
*		Fidelity		US Bond Index		N/A		9,452,870
*		Participant Loans		Varying maturities and interest rates from 5.0% to 10.25%		N/A		5,047,362
								$	206,722,026

 

*  Party-in-interest to the Plan as defined by ERISA

 

17

 

SIGNATURE

 

The Plan.  Pursuant to the requirements of the Securities Exchange Act of 1934, the Group Plans Administrative Committee, administrator of the Plan, has duly caused this Annual Report to be signed on its behalf by the undersigned thereunto duly authorized.

 

	EQUIFAX INC. 401(k) PLAN
	By:	Group Plans Administrative Committee
Date:  June 29, 2009	By:	/s/ KENT E. MAST
		Kent E. Mast Corporate Vice President and Chief Legal Officer; Member of the Equifax Inc. Group Plans Administrative Committee, Plan Administrator

 

18

 

INDEX TO EXHIBITS

 

Exhibit No.		Description
23		Consent of Smith & Howard, Independent Registered Public Accounting Firm