26-U.S.C.-4973
§4973 – Tax On Excess Contributions to Certain Tax-Favored Accounts and Annuities
Pathway
Title 26 > Subtitle D > Chapter 43 > Section 4973
Details
- Reference: Section 4973
- Legend: §4973 – Tax On Excess Contributions to Certain Tax-Favored Accounts and Annuities
- USCode Year: 2013
Provision Content
(a) Tax imposed
In the case of—
(1) an individual retirement account (within the meaning of section 408(a)),
(2) an Archer MSA (within the meaning of section 220(d)),
(3) an individual retirement annuity (within the meaning of section 408(b)), a custodial account treated as an annuity contract under section 403(b)(7)(A) (relating to custodial accounts for regulated investment company stock),
(4) a Coverdell education savings account (as defined in section 530), or
(5) a health savings account (within the meaning of section 223(d)),
there is imposed for each taxable year a tax in an amount equal to 6 percent of the amount of the excess contributions to such individuals accounts or annuities (determined as of the close of the taxable year). The amount of such tax for any taxable year shall not exceed 6 percent of the value of the account or annuity (determined as of the close of the taxable year). In the case of an endowment contract described in section 408(b), the tax imposed by this section does not apply to any amount allocable to life, health, accident, or other insurance under such contract. The tax imposed by this subsection shall be paid by such individual.
(b) Excess contributions
For purposes of this section, in the case of individual retirement accounts or individual retirement annuities, the term excess contributions means the sum of—
(1) the excess (if any) of—
(A) the amount contributed for the taxable year to the accounts or for the annuities (other than a contribution to a Roth IRA or a rollover contribution described in section 402(c), 403(a)(4), 403(b)(8), 408(d)(3), or 457(e)(16)), over
(B) the amount allowable as a deduction under section 219 for such contributions, and
(2) the amount determined under this subsection for the preceding taxable year reduced by the sum of—
(A) the distributions out of the account for the taxable year which were included in the gross income of the payee under section 408(d)(1),
(B) the distributions out of the account for the taxable year to which section 408(d)(5) applies, and
(C) the excess (if any) of the maximum amount allowable as a deduction under section 219 for the taxable year over the amount contributed (determined without regard to section 219(f)(6)) to the accounts or for the annuities (including the amount contributed to a Roth IRA) for the taxable year.
For purposes of this subsection, any contribution which is distributed from the individual retirement account or the individual retirement annuity in a distribution to which section 408(d)(4) applies shall be treated as an amount not contributed. For purposes of paragraphs (1)(B) and (2)(C), the amount allowable as a deduction under section 219 shall be computed without regard to section 219(g).
(c) Section 403(b) contracts
For purposes of this section, in the case of a custodial account referred to in subsection (a)(3), the term excess contributions means the sum of—
(1) the excess (if any) of the amount contributed for the taxable year to such account (other than a rollover contribution described in section 403(b)(8) or 408(d)(3)(A)(iii)), over the lesser of the amount excludable from gross income under section 403(b) or the amount permitted to be contributed under the limitations contained in section 415 (or under whichever such section is applicable, if only one is applicable), and
(2) the amount determined under this subsection for the preceding taxable year, reduced by—
(A) the excess (if any) of the lesser of (i) the amount excludable from gross income under section 403(b) or (ii) the amount permitted to be contributed under the limitations contained in section 415 over the amount contributed to the account for the taxable year (or under whichever such section is applicable, if only one is applicable), and
(B) the sum of the distributions out of the account (for all prior taxable years) which are included in gross income under section 72(e).
(d) Excess contributions to Archer MSAs
For purposes of this section, in the case of Archer MSAs (within the meaning of section 220(d)), the term excess contributions means the sum of—
(1) the aggregate amount contributed for the taxable year to the accounts (other than rollover contributions described in section 220(f)(5)) which is neither excludable from gross income under section 106(b) nor allowable as a deduction under section 220 for such year, and
(2) the amount determined under this subsection for the preceding taxable year, reduced by the sum of—
(A) the distributions out of the accounts which were included in gross income under section 220(f)(2), and
(B) the excess (if any) of—
(i) the maximum amount allowable as a deduction under section 220(b)(1) (determined without regard to section 106(b)) for the taxable year, over
(ii) the amount contributed to the accounts for the taxable year.
For purposes of this subsection, any contribution which is distributed out of the Archer MSA in a distribution to which section 220(f)(3) or section 138(c)(3) applies shall be treated as an amount not contributed.
(e) Excess contributions to Coverdell education savings accounts
For purposes of this section—
(1) In general
In the case of Coverdell education savings accounts maintained for the benefit of any one beneficiary, the term excess contributions means the sum of—
(A) the amount by which the amount contributed for the taxable year to such accounts exceeds $2,000 (or, if less, the sum of the maximum amounts permitted to be contributed under section 530(c) by the contributors to such accounts for such year); and
(B) the amount determined under this subsection for the preceding taxable year, reduced by the sum of—
(i) the distributions out of the accounts for the taxable year (other than rollover distributions); and
(ii) the excess (if any) of the maximum amount which may be contributed to the accounts for the taxable year over the amount contributed to the accounts for the taxable year.
(2) Special rules
For purposes of paragraph (1), the following contributions shall not be taken into account:
(A) Any contribution which is distributed out of the Coverdell education savings account in a distribution to which section 530(d)(4)(C) applies.
(B) Any rollover contribution.
(f) Excess contributions to Roth IRAs
For purposes of this section, in the case of contributions to a Roth IRA (within the meaning of section 408A(b)), the term excess contributions means the sum of—
(1) the excess (if any) of—
(A) the amount contributed for the taxable year to Roth IRAs (other than a qualified rollover contribution described in section 408A(e)), over
(B) the amount allowable as a contribution under sections 408A(c)(2) and (c)(3), and
(2) the amount determined under this subsection for the preceding taxable year, reduced by the sum of—
(A) the distributions out of the accounts for the taxable year, and
(B) the excess (if any) of the maximum amount allowable as a contribution under sections 408A(c)(2) and (c)(3) for the taxable year over the amount contributed by the individual to all individual retirement plans for the taxable year.
For purposes of this subsection, any contribution which is distributed from a Roth IRA in a distribution described in section 408(d)(4) shall be treated as an amount not contributed.
(g) Excess contributions to health savings accounts
For purposes of this section, in the case of health savings accounts (within the meaning of section 223(d)), the term excess contributions means the sum of—
(1) the aggregate amount contributed for the taxable year to the accounts (other than a rollover contribution described in section 220(f)(5) or 223(f)(5)) which is neither excludable from gross income under section 106(d) nor allowable as a deduction under section 223 for such year, and
(2) the amount determined under this subsection for the preceding taxable year, reduced by the sum of—
(A) the distributions out of the accounts which were included in gross income under section 223(f)(2), and
(B) the excess (if any) of—
(i) the maximum amount allowable as a deduction under section 223(b) (determined without regard to section 106(d)) for the taxable year, over
(ii) the amount contributed to the accounts for the taxable year.
For purposes of this subsection, any contribution which is distributed out of the health savings account in a distribution to which section 223(f)(3) applies shall be treated as an amount not contributed.
(Added Pub. L. 93–406, title II, §2002(d), Sept. 2, 1974, 88 Stat. 966; amended Pub. L. 94–455, title XV, §1501(b)(8), title XIX, §1904(a)(22), Oct. 4, 1976, 90 Stat. 1736, 1814; Pub. L. 95–600, title I, §§156(c)(3), (5), 157(b)(3), (j)(1), title VII, §701(aa)(1), Nov. 6, 1978, 92 Stat. 2803, 2804, 2809, 2921; Pub. L. 96–222, title I, §101(a)(13)(C), (14)(B), Apr. 1, 1980, 94 Stat. 204; Pub. L. 97–34, title III, §§311(h)(7), (9), (10), 313(b)(2), Aug. 13, 1981, 95 Stat. 282, 286; Pub. L. 98–369, div. A, title IV, §491(d)(41)–(44), (55), July 18, 1984, 98 Stat. 851, 852; Pub. L. 99–514, title XI, §1102(b)(1), title XVIII, §1848(f), Oct. 22, 1986, 100 Stat. 2415, 2858; Pub. L. 100–647, title I, §1011(b)(3), Nov. 10, 1988, 102 Stat. 3456; Pub. L. 102–318, title V, §521(b)(41), July 3, 1992, 106 Stat. 313; Pub. L. 104–188, title I, §1704(t)(70), (72), Aug. 20, 1996, 110 Stat. 1891; Pub. L. 104–191, title III, §301(e), Aug. 21, 1996, 110 Stat. 2051; Pub. L. 105–33, title IV, §4006(b)(1), Aug. 5, 1997, 111 Stat. 333; Pub. L. 105–34, title II, §213(d), title III, §302(b), Aug. 5, 1997, 111 Stat. 817, 828; Pub. L. 105–206, title VI, §§6004(d)(10), 6005(b)(8), 6023(18)(A), July 22, 1998, 112 Stat. 795, 799, 825; Pub. L. 106–554, §1(a)(7) [title II, §202(a)(6), (b)(2)(C), (6), (10)], Dec. 21, 2000, 114 Stat. 2763, 2763A–628, 2763A–629; Pub. L. 107–16, title IV, §§401(a)(2), (g)(2)(D), 402(a)(4)(A), title VI, §641(e)(11), June 7, 2001, 115 Stat. 57, 60, 121; Pub. L. 107–22, §1(b)(1)(C), (2)(B), (4), July 26, 2001, 115 Stat. 197; Pub. L. 108–173, title XII, §1201(e), Dec. 8, 2003, 117 Stat. 2478; Pub. L. 108–311, title IV, §408(a)(22), Oct. 4, 2004, 118 Stat. 1192.)
Amendments
2004—Subsec. (c). Pub. L. 108–311 substituted subsection (a)(3) for subsection (a)(2) in introductory provisions.
2003—Subsec. (a)(5). Pub. L. 108–173, §1201(e)(1), added par. (5).
Subsec. (g). Pub. L. 108–173, §1201(e)(2), added subsec. (g).
2001—Subsec. (a)(4). Pub. L. 107–22, §1(b)(1)(C), substituted a Coverdell education savings for an education individual retirement.
Subsec. (b)(1)(A). Pub. L. 107–16, §641(e)(11), substituted 408(d)(3), or 457(e)(16) for or 408(d)(3).
Subsec. (e). Pub. L. 107–22, §1(b)(4), substituted Coverdell education savings for education individual retirement in heading.
Pub. L. 107–16, §402(a)(4)(A), which directed the substitution of qualified tuition for qualified State tuition wherever appearing in subsec. (e), could not be executed because the term qualified State tuition did not appear subsequent to amendment by section 401(g)(2)(D) of Pub. L. 107–16, which struck out par. (1)(B). See below.
Subsec. (e)(1). Pub. L. 107–22, §1(b)(2)(B), substituted Coverdell education savings for education individual retirement in introductory provisions.
Subsec. (e)(1)(A). Pub. L. 107–16, §401(a)(2), (g)(2)(D), substituted $2,000 for $500 and inserted and at end.
Subsec. (e)(1)(B), (C). Pub. L. 107–16, §401(g)(2)(D), redesignated subpar. (C) as (B) and struck out former subpar. (B) which read as follows: if any amount is contributed (other than a contribution described in section 530(b)(2)(B)) during such year to a qualified State tuition program for the benefit of such beneficiary, any amount contributed to such accounts for such taxable year; and.
Subsec. (e)(2)(A). Pub. L. 107–22, §1(b)(2)(B), substituted Coverdell education savings for education individual retirement.
2000—Subsec. (a)(2). Pub. L. 106–554, §1(a)(7) [title II, §202(b)(10)], substituted an Archer for a Archer.
Pub. L. 106–554, §1(a)(7) [title II, §202(a)(6)], substituted Archer MSA for medical savings account.
Subsec. (d). Pub. L. 106–554, §1(a)(7) [title II, §202(a)(6), (b)(2)(C), (6)], substituted Archer MSAs for medical savings accounts in heading, Archer MSAs for medical savings accounts in introductory provisions, and Archer MSA for medical savings account in concluding provisions.
1998—Pub. L. 105–206, §6023(18)(A), amended section catchline generally. Prior to amendment, catchline read as follows: Tax on excess contributions to individual retirement accounts, medical savings accounts, certain section 403(b) contracts, and certain individual retirement annuities.
Subsec. (b)(1)(A). Pub. L. 105–206, §6005(b)(8)(B)(i), inserted a contribution to a Roth IRA or after other than.
Subsec. (b)(2)(C). Pub. L. 105–206, §6005(b)(8)(B)(ii), inserted (including the amount contributed to a Roth IRA) after annuities.
Subsec. (e)(1). Pub. L. 105–206, §6004(d)(10)(A), reenacted heading without change and amended text of par. (1) generally. Prior to amendment, text read as follows: In the case of education individual retirement accounts maintained for the benefit of any 1 beneficiary, the term ‘excess contributions’ means—
(A) the amount by which the amount contributed for the taxable year to such accounts exceeds $500, and
(B) any amount contributed to such accounts for any taxable year if any amount is contributed during such year to a qualified State tuition program for the benefit of such beneficiary.
Subsec. (e)(2)(B), (C). Pub. L. 105–206, §6004(d)(10)(B), redesignated subpar. (C) as (B) and struck out former subpar. (B) which read as follows: Any contribution described in section 530(b)(2)(B) to a qualified State tuition program.
Subsec. (f). Pub. L. 105–206, §6005(b)(8)(C), made technical amendment to directory language of Pub. L. 105–34, §302(b). See 1997 Amendment note below.
Subsec. (f)(1)(A). Pub. L. 105–206, §6005(b)(8)(A)(i), substituted Roth IRAs for such accounts.
Subsec. (f)(2)(B). Pub. L. 105–206, §6005(b)(8)(A)(ii), substituted by the individual to all individual retirement plans for to the accounts.
1997—Subsec. (a)(4). Pub. L. 105–34, §213(d)(1), added par. (4).
Subsec. (d). Pub. L. 105–33 inserted or section 138(c)(3) after section 220(f)(3) in concluding provisions.
Subsec. (e). Pub. L. 105–34, §213(d)(2), added subsec. (e).
Subsec. (f). Pub. L. 105–34, §302(b), as amended by Pub. L. 105–206, §6005(b)(8)(C), added subsec. (f).
1996—Pub. L. 104–191, §301(e)(1), inserted medical savings accounts, after accounts, in section catchline.
Subsec. (a). Pub. L. 104–191, §301(e)(1)–(3), struck out or at end of par. (1), added par. (2), and redesignated former par. (2) as (3).
Subsec. (b)(1)(A). Pub. L. 104–188, §1704(t)(72), provided that section 521(b)(41) of Pub. L. 102–318 shall be applied as if section appeared instead of sections in the material proposed to be stricken. See 1992 Amendment note below.
Pub. L. 104–188, §1704(t)(70), substituted section for sections.
Subsec. (d). Pub. L. 104–191, §301(e)(4), added subsec. (d).
1992—Subsec. (b)(1)(A). Pub. L. 102–318, which directed the substitution of sections 402(c) for sections 402(a)(5), 402(a)(7), was executed by substituting sections 402(c) for section 402(a)(5), 402(a)(7). See 1996 Amendment note above.
1988—Subsec. (b). Pub. L. 100–647 substituted shall be computed without regard to section 219(g) for (after application of section 408(o)(2)(B)(ii)) shall be increased by the nondeductible limit under section 408(o)(2)(B) in last sentence.
1986—Subsec. (b). Pub. L. 99–514, §1102(b)(1), inserted at end For purposes of paragraphs (1)(B) and (2)(C), the amount allowable as a deduction under section 219 (after application of section 408(o)(2)(B)(ii)) shall be increased by the nondeductible limit under section 408(o)(2)(B).
Pub. L. 99–514, §1848(f), in introductory provisions, substituted or individual retirement annuities for , individual retirement annuities, or bonds, in par. (1)(A), substituted (other than a rollover contribution described in section 402(a)(5), 402(a)(7), 403(a)(4), 403(b)(8), or 408(d)(3)), over for or bonds (other than a rollover contribution described in section 402(a)(5), 402(a)(7), 403(a)(4), 403(b)(8), 405(d)(3), or 408(d)(3)), over, and in par. (2)(A), struck out or bonds after for the annuities.
1984—Pub. L. 98–369, §491(d)(55), substituted and certain individual retirement annuities for certain individual retirement annuities, and certain retirement bonds in section catchline.
Subsec. (a). Pub. L. 98–369, §491(d)(41), inserted or at end of par. (1), struck out or at end of par. (2), struck out par. (3) which imposed a tax in the case of a retirement bond, within the meaning of section 409, established for the benefit of any individual, and in the concluding provision substituted or annuity for , annuity, or bond and or annuities for , annuities, or bonds.
Subsec. (b). Pub. L. 98–369, §491(d)(43), substituted in provision following par. (2)(C) or the individual retirement annuity for , individual retirement annuity, or bond.
Subsec. (b)(1)(A). Pub. L. 98–369, §491(d)(42), which directed the amendment of subpar. (A) by substituting and 408(d)(3) for 408(d)(3), and 409(b)(3)(C) was executed, as the probable intent of Congress, by substituting or 408(d)(3)) for 408(d)(3)), or 409(b)(3)(C).
Subsec. (c)(1). Pub. L. 98–369, §491(d)(44), substituted or 408(d)(3)(A)(iii) for , 408(d)(3)(A)(iii), or 409(b)(3)(C).
1981—Subsec. (a). Pub. L. 97–34, §311(h)(9), substituted The tax imposed by this subsection shall be paid by such individual for The tax imposed by this subsection shall be paid by the individual to whom a deduction is allowed for the taxable year under section 219 (determined without regard to subsection (b)(1) thereof) or section 220 (determined without regard to subsection (b)(1) thereof), whichever is appropriate.
Subsec. (b)(1)(A). Pub. L. 97–34, §313(b)(2), inserted 405(d)(3), after 403(b)(8),.
Subsec. (b)(1)(B). Pub. L. 97–34, §311(h)(7), substituted section 219 for section 219 or 220.
Subsec. (b)(2)(C). Pub. L. 97–34, §311(h)(7), (10), substituted section 219 for section 219 or 220, and section 219(f)(6) for sections 219(c)(5) and 220(c)(6).
1980—Subsec. (b)(1)(A). Pub. L. 96–222, §101(a)(14)(B), inserted reference to section 402(a)(7).
Subsec. (c)(1). Pub. L. 96–222, §101(a)(13)(C), substituted 409(b)(3)(C) for 409(d)(3)(C).
1978—Subsec. (b)(1)(A). Pub. L. 95–600, §156(c)(3), inserted reference to section 403(b)(8).
Subsec. (b)(2). Pub. L. 95–600, §157(b)(3), substituted reduced by the sum of— for reduced by the excess (if any) of, struck out the maximum amount allowable as a deduction under section 219 or 220 for the taxable year over the amount contributed to the accounts or for the annuities or bonds for the taxable years and reduced by the sum of the distributions out of the account (for the taxable year and all prior taxable years) which were included in the gross income of the payee under section 408(d)(1) in provision preceding par. (A), and added subpars. (A), (B), and (C).
Subsec. (b). Pub. L. 95–600, §§157(j)(1), 701(aa)(1), struck out in last sentence if such distribution consists of an excess contribution solely because of employer contributions to a plan or contract described in section 219(b)(2) or by reason of the application of section 219(b)(1) (without regard to the $1,500 limitation) or section 220(b)(1) (without regard to the $1,750 limitation) and only if such distribution does not exceed the excess of $1,500 or $1,750 if applicable, over the amount described in paragraph (1)(B) after as an amount not contributed.
Subsec. (c)(1). Pub. L. 95–600, §156(c)(5), inserted (other than a rollover contribution described in section 403(b)(8), 408(d)(3)(A)(iii), or 409(d)(3)(C)) after account.
1976—Subsec. (a)(3). Pub. L. 94–455, §§1501(b)(8)(A), 1904(a)(22)(A), substituted the individual to whom a deduction is allowed for the taxable year under section 219 (determined without regard to subsection (b)(1) thereof) or section 220 (determined without regard to subsection (b)(1) thereof), whichever is appropriate for such individual, effective for taxable years beginning after December 31, 1976 and substituted such individual for the individual to whom a deduction is allowed for the taxable year under section 219 (determined without regard to subsection (b)(1) thereof) or section 220 (determined without regard to subsection (b)(1) thereof), whichever is appropriate, effective for the first day of the first month which begins more than 90 days after Oct. 4, 1976.
Subsec. (b)(1)(B). Pub. L. 94–455, §1501(b)(8)(B), inserted or 220 after under section 219.
Subsec. (b)(2). Pub. L. 94–455, §1501(b)(8)(C), inserted or 220 after under section 219 and the taxable year and before all prior taxable years and struck out provisions relating to the treatment of contributions out of individual retirement accounts, annuities or bonds to which section 408(d)(4) applied.
Subsec. (c). Pub. L. 94–455, §1904(a)(22)(B), substituted subsection (a)(2) for subsection (a)(3) in provisions preceding par. (1).
Effective Date of 2003 Amendment
Amendment by Pub. L. 108–173 applicable to taxable years beginning after Dec. 31, 2003, see section 1201(k) of Pub. L. 108–173, set out as a note under section 62 of this title.
Effective Date of 2001 Amendments
Amendment by Pub. L. 107–22 effective July 26, 2001, see section 1(c) of Pub. L. 107–22, set out as a note under section 26 of this title.
Amendment by section 401(a)(2), (g)(2)(D) of Pub. L. 107–16 applicable to taxable years beginning after Dec. 31, 2001, see section 401(h) of Pub. L. 107–16, set out as a note under section 25A of this title.
Amendment by section 402(a)(4)(A) of Pub. L. 107–16 applicable to taxable years beginning after Dec. 31, 2001, see section 402(h) of Pub. L. 107–16, set out as a note under section 72 of this title.
Amendment by section 641(e)(11) of Pub. L. 107–16 applicable to distributions after Dec. 31, 2001, see section 641(f)(1) of Pub. L. 107–16, set out as a note under section 402 of this title.
Effective Date of 1998 Amendment
Amendment by section 6023(18)(A) of Pub. L. 105–206 effective July 22, 1998, see section 6023(32) of Pub. L. 105–206, set out as a note under section 34 of this title.
Amendment by sections 6004(d)(10) and 6005(b)(8) of Pub. L. 105–206 effective, except as otherwise provided, as if included in the provisions of the Taxpayer Relief Act of 1997, Pub. L. 105–34, to which such amendment relates, see section 6024 of Pub. L. 105–206, set out as a note under section 1 of this title.
Effective Date of 1997 Amendments
Amendment by section 213(d) of Pub. L. 105–34 applicable to taxable years beginning after Dec. 31, 1997, see section 213(f) of Pub. L. 105–34, set out as a note under section 26 of this title.
Amendment by section 302(b) of Pub. L. 105–34 applicable to taxable years beginning after Dec. 31, 1997, see section 302(f) of Pub. L. 105–34, set out as a note under section 219 of this title.
Amendment by Pub. L. 105–33 applicable to taxable years beginning after Dec. 31, 1998, see section 4006(c) of Pub. L. 105–33, set out as an Effective Date note under section 138 of this title.
Effective Date of 1996 Amendment
Amendment by Pub. L. 104–191 applicable to taxable years beginning after Dec. 31, 1996, see section 301(j) of Pub. L. 104–191, set out as a note under section 62 of this title.
Effective Date of 1992 Amendment
Amendment by Pub. L. 102–318 applicable to distributions after Dec. 31, 1992, see section 521(e) of Pub. L. 102–318, set out as a note under section 402 of this title.
Effective Date of 1988 Amendment
Amendment by Pub. L. 100–647 effective, except as otherwise provided, as if included in the provision of the Tax Reform Act of 1986, Pub. L. 99–514, to which such amendment relates, see section 1019(a) of Pub. L. 100–647, set out as a note under section 1 of this title.
Effective Date of 1986 Amendment
Amendment by section 1102(b)(1) of Pub. L. 99–514 applicable to contributions and distributions for taxable years beginning after Dec. 31, 1986, see section 1102(g) of Pub. L. 99–514, set out as a note under section 219 of this title.
Amendment by section 1848(f) of Pub. L. 99–514 effective, except as otherwise provided, as if included in the provisions of the Tax Reform Act of 1984, Pub. L. 98–369, div. A, to which such amendment relates, see section 1881 of Pub. L. 99–514, set out as a note under section 48 of this title.
Effective Date of 1984 Amendment
Amendment by Pub. L. 98–369 applicable to obligations issued after Dec. 31, 1983, see section 491(f)(1) of Pub. L. 98–369, set out as a note under section 62 of this title.
Effective Date of 1981 Amendment
Amendment by section 311(h)(7), (9), (10) of Pub. L. 97–34 applicable to taxable years beginning after Dec. 31, 1981, see section 311(i)(1) of Pub. L. 97–34, set out as a note under section 219 of this title.
Amendment by section 313(b)(2) of Pub. L. 97–34 applicable to redemptions after Aug. 13, 1981, in taxable years ending after such date, see section 313(c) of Pub. L. 97–34, set out as a note under section 219 of this title.
Effective Date of 1980 Amendment
Amendment by Pub. L. 96–222 effective, except as otherwise provided, as if it had been included in the provision of the Revenue Act of 1978, Pub. L. 95–600, to which such amendment relates, see section 201 of Pub. L. 96–222, set out as a note under section 22 of this title.
Effective Date of 1978 Amendment
Amendment by section 156(c)(3), (5) of Pub. L. 95–600 applicable to distributions or transfers made after Dec. 31, 1977, in taxable years beginning after such date, see section 156(d) of Pub. L. 95–600, set out as a note under section 403 of this title.
Amendment by section 157(b)(3) of Pub. L. 95–600 applicable to determination of deductions for taxable years beginning after Dec. 31, 1975, see section 157(b)(4)(A) of Pub. L. 95–600, set out as a note under section 219 of this title.
Pub. L. 95–600, title I, §157(j)(2), Nov. 6, 1978, 92 Stat. 2809, provided that: The amendment made by paragraph (1) [amending this section] shall apply to contributions made for taxable years beginning after December 31, 1977.
Pub. L. 95–600, title VII, §701(aa)(2), Nov. 6, 1978, 92 Stat. 2921, provided that: The amendment made by paragraph (1) [amending this section] shall apply as if included in section 1501 of the Tax Reform Act of 1976 [section 1501 of Pub. L. 94–455] at the time of the enactment of such Act [Oct. 4, 1976].
Pub. L. 95–600, title VII, §703(j)(13), Nov. 6, 1978, 92 Stat. 2942, provided that: Notwithstanding section 1904(d) of the Tax Reform Act of 1976 [Pub. L. 94–455, set out as an Effective Date of 1976 Amendment note under section 4041 of this title], the amendment made by section 1904(a)(22)(A) of such Act [amending this section] shall take effect on the date of the enactment of such Act [Oct. 4, 1976].
Effective Date of 1976 Amendment
Amendment by section 1501(b)(8) of Pub. L. 94–455 applicable to taxable years beginning after Dec. 31, 1976, see section 1501(d) of Pub. L. 94–455, set out as a note under section 62 of this title.
Amendment by section 1904(a)(22) of Pub. L. 94–455 effective on first day of first month which begins more than 90 days after Oct. 4, 1976, see section 1904(d) of Pub. L. 94–455, set out as a note under section 4041 of this title.
Effective Date
Pub. L. 93–406, title II, §2002(i)(2), Sept. 2, 1974, 88 Stat. 971, provided that: The amendments made by subsections (d) through (h) except subsection (g)(5) and (6) [enacting this section and sections 4974 and 6693 of this title and amending sections 37, 46, 50, 56, 72, 801, 805, 901, 3401, and 6047 of this title] shall take effect on January 1, 1975.
Plan Amendments Not Required Until January 1, 1994
For provisions directing that if any amendments made by subtitle B [§§521–523] of title V of Pub. L. 102–318 require an amendment to any plan, such plan amendment shall not be required to be made before the first plan year beginning on or after Jan. 1, 1994, see section 523 of Pub. L. 102–318, set out as a note under section 401 of this title.
Plan Amendments Not Required Until January 1, 1989
For provisions directing that if any amendments made by subtitle A or subtitle C of title XI [§§1101–1147 and 1171–1177] or title XVIII [§§1800–1899A] of Pub. L. 99–514 require an amendment to any plan, such plan amendment shall not be required to be made before the first plan year beginning on or after Jan. 1, 1989, see section 1140 of Pub. L. 99–514, as amended, set out as a note under section 401 of this title.
U.S. Encyclopedia of Law Coverage
26-U.S.C.-4973 in the Legal Encyclopedia: Taxes
In this entry about 26-U.S.C.-4973, find legal reference material, bibliographies and premiere content related to taxes in the American Encyclopedia of Law, presenting a comprehensive view of the United States taxes-specific issues, written by authorities in the field.
26-U.S.C.-431 in the Legal Encyclopedia: Pension
In this entry about 26-U.S.C.-431, find legal reference material, bibliographies and premiere content related to pension in the American Encyclopedia of Law, presenting a comprehensive view of the United States pension-specific issues, written by authorities in the field.
Leave a Reply