I 

111TH CONGRESS 

1ST SESSION H. R. 939 

To permit 2008 required minimum distributions from certain retirement plans 

to be repaid. 

IN THE HOUSE OF REPRESENTATIVES 

FEBRUARY 10, 2009 

Mr. FRELINGHUYSEN (for himself, Mr. BACHUS, Mr. BARTLETT, Mr. PAUL, 

Mr. BONNER, Mr. WILSON of South Carolina, Mr. SMITH of Texas, Mr. 

ROSKAM, Mr. HINCHEY, Mr. ROGERS of Michigan, Mr. JONES, Mr. 

COBLE, Mrs. BACHMANN, Mr. HOEKSTRA, Mr. DENT, Mr. WOLF, Mr. 

BOUSTANY, Mr. MCHUGH, and Mrs. MYRICK) introduced the following 

bill; which was referred to the Committee on Ways and Means 

A BILL 

To permit 2008 required minimum distributions from certain 

retirement plans to be repaid. 

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

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘IRA Equity for Seniors 

5 Act’’. 


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1 SEC. 2. REPAYMENT OF 2008 REQUIRED MINIMUM DIS2 TRIBUTIONS. 

3 (a) IN GENERAL.—An individual who received a 2008 

4 required minimum distribution may elect to treat one or 

5 more contributions to a plan described in subsection (c) 

6 made during 2009 as a rollover contribution to which sub7 section (d) applies. 

8 (b) LIMITATION.—The amount to which subsection 

9 (a) applies shall not exceed the lesser of— 

10 (1) the 2008 required minimum distribution 

11 from such plan, or 

12 (2) the amount distributed from such plan dur13 ing 2008. 

14 (c) 2008 REQUIRED MINIMUM DISTRIBUTION.—For 

15 purposes of this section, the term ‘‘2008 required min16 imum distribution’’ means the required minimum distribu17 tion determined under section 401(a)(9) of the Internal 

18 Revenue Code of 1986 for 2008 from— 

19 (1) a defined contribution plan which is de20 scribed in section 401(k), 403(a), or 403(b) of such 

21 Code, 

22 (2) a defined contribution plan which is an eli23 gible deferred compensation plan described in section 

24 457(b) of such Code but only if such plan is main25 tained by an employer described in section 

26 457(e)(1)(A) of such Code, or 


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1 (3) an individual retirement plan (as defined in 

2 section 7701(a)(37) of such Code). 

3 (d) TREATMENT AS ROLLOVER CONTRIBUTIONS.— 

4 (1) RECONTRIBUTIONS TO RETIREMENT PLANS

5 OTHER THAN IRAS.—For purposes of the Internal 

6 Revenue Code of 1986, if a taxpayer makes an elec7 tion under subsection (a) with respect to a contribu8 tion to a retirement plan described in paragraph (1) 

9 or (2) of subsection (c), then the taxpayer shall, to 

10 the extent of the amount of the contribution, be 

11 treated as having received such payments or dis12 tributions in an eligible rollover distribution (as de13 fined in section 402(c)(4) of such Code) and as hav14 ing transferred the amount to the eligible retirement 

15 plan in a direct trustee to trustee transfer within 60 

16 days of the distribution. 

17 (2) RECONTRIBUTIONS TO IRAS.—For purposes 

18 of the Internal Revenue Code of 1986, if a taxpayer 

19 makes an election under subsection (a) with respect 

20 to a contribution to an individual retirement plan 

21 (as defined by section 7701(a)(37) of such Code), 

22 then, to the extent of the amount of the contribu23 tion, such payments or distributions shall be treated 

24 as a distribution described in section 408(d)(3) of 

25 such Code and as having been transferred to the inVerDate Nov 24 2008 21:46 Feb 11, 2009 Jkt 079200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6201 E:\BILLS\H939.IH H939

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1 dividual retirement plan in a direct trustee to trust2 ee transfer within 60 days of the distribution. 

3 (3) OTHER RULES.—The dollar limitations oth4 erwise applicable to contributions to retirement 

5 plans described in subsection (c) shall not apply to 

6 any contribution made pursuant to the preceding 

7 sentence. No deduction shall be allowed for any con8 tribution pursuant to this clause. 

9 (e) CREDIT FOR TAX PAID.— 

10 (1) IN GENERAL.—There shall be allowed 

11 against the tax imposed by chapter 1 of the Internal 

12 Revenue Code of 1986 for the first taxable year be13 ginning in 2009 an amount equal to the excess of— 

14 (A) the tax liability of the taxpayer under 

15 such chapter for taxable year 2008 (determined 

16 without regard to subsection (a)), over 

17 (B) the tax liability of the taxpayer under 

18 such chapter for taxable year 2008 (determined 

19 after the application of subsection (a)). 

20 (2) TREATMENT OF CREDIT.—The credit deter21 mined under paragraph (1) shall be treated as a 

22 credit allowed under subpart C of part IV of sub23 chapter A of chapter 1 of such Code. For purposes 

24 of section 1324(b)(2) of title 31, United States 


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1 Code, such credit shall be treated in the same man2 ner as a refund of the credit under section 35. 

Æ 


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