II 

115TH CONGRESS 

1ST SESSION S. 695 

To avoid duplicative annual reporting under the Internal Revenue Code of 

1986 and the Employee Retirement Income Security Act of 1974, and 

for other purposes. 

IN THE SENATE OF THE UNITED STATES 

MARCH 22, 2017 

Mr. WARNER (for himself and Ms. COLLINS) introduced the following bill; 

which was read twice and referred to the Committee on Health, Education, Labor, and Pensions 

A BILL 

To avoid duplicative annual reporting under the Internal 

Revenue Code of 1986 and the Employee Retirement 

Income Security Act of 1974, and for other purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. COMBINED ANNUAL REPORT FOR GROUP OF 

4 PLANS. 

5 (a) IN GENERAL.—The Secretary of the Treasury 

6 and the Secretary of Labor shall, in cooperation, modify 

7 the returns required under section 6058 of the Internal 

8 Revenue Code of 1986 and the reports required by section 

9 104 of the Employee Retirement Income Security Act of 


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•S 695 IS

1 1974 (29 U.S.C. 1024) so that all members of a group 

2 of plans described in subsection (c) may file a single aggre3 gated annual return or report satisfying the requirements 

4 of both such sections. 

5 (b) ADMINISTRATIVE REQUIREMENTS.—In devel6 oping the consolidated return or report under subsection 

7 (a), the Secretary of the Treasury and the Secretary of 

8 Labor may require such return or report to include any 

9 information regarding each plan in the group as such Sec10 retaries determine is necessary or appropriate for the en11 forcement and administration of the Internal Revenue 

12 Code of 1986 and the Employee Retirement Income Secu13 rity Act of 1974. 

14 (c) PLANS DESCRIBED.—A group of plans is de15 scribed in this subsection if all plans in the group— 

16 (1) are individual account plans or defined con17 tribution plans (as defined in section 3(34) of the 

18 Employee Retirement Income Security Act of 1974 

19 (29 U.S.C. 1002(34)) or in section 414(i) of the In20 ternal Revenue Code of 1986); 

21 (2) have— 

22 (A) the same trustee (as described in sec23 tion 403(a) of such Act (29 U.S.C. 1103(a))); 


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1 (B) the same one or more named fidu2 ciaries (as described in section 402(a) of such 

3 Act (29 U.S.C. 1102(a))); 

4 (C) the same administrator (as defined in 

5 section 3(16)(A) of such Act (29 U.S.C. 

6 1002(16)(A))) and plan administrator (as de7 fined in section 414(g) of the Internal Revenue 

8 Code of 1986); and 

9 (D) plan years beginning on the same 

10 date; and 

11 (3) provide the same investments or investment 

12 options to participants and beneficiaries. 

13 A plan not subject to title I of the Employee Retirement 

14 Income Security Act of 1974 shall be treated as meeting 

15 the requirements of paragraph (2) as part of a group of 

16 plans if the same person that performs each of the func17 tions described in such paragraph, as applicable, for all 

18 other plans in such group performs each of such functions 

19 for such plan. 

20 (d) CLARIFICATION RELATING TO ELECTRONIC FIL21 ING OF RETURNS FOR DEFERRED COMPENSATION

22 PLANS.— 

23 (1) IN GENERAL.—Section 6011(e) of the Inter24 nal Revenue Code of 1986 is amended by adding at 

25 the end the following new paragraph: 


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1 ‘‘(5) APPLICATION OF NUMERICAL LIMITATION

2 TO RETURNS RELATING TO DEFERRED COMPENSA3 TION PLANS.—For purposes of applying the numer4 ical limitation under paragraph (2)(A) to any return 

5 required under section 6058, information regarding 

6 each plan for which information is provided on such 

7 return shall be treated as a separate return.’’. 

8 (2) EFFECTIVE DATE.—The amendment made 

9 by paragraph (1) shall apply to returns required to 

10 be filed with respect to plan years beginning after 

11 December 31, 2017. 

12 (e) EFFECTIVE DATE.—The modification required by 

13 subsection (a) shall be implemented not later than Janu14 ary 1, 2021, and shall apply to returns and reports for 

15 plan years beginning after December 31, 2020. 

Æ 


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