or missing participant during any period 
the plan administrator has actual knowl-
edge of the individual’s whereabouts and 
how to contact the individual, except that 
the requirements of this paragraph and 
any other requirement of this title which 
cannot be satisfied if the plan is unable to 
locate a participant shall be waived for the 
180-day period beginning on the date the 
plan administrator first had such actual 
knowledge. 
‘‘(v) JOINT
REGULATORY
AUTHOR-
ITY.—Any temporary, proposed, or final 
regulation or other guidance of general ap-
plicability under this subparagraph shall be 
issued jointly by the Internal Revenue 
Service, Department of the Treasury, the 
Employee Benefits Security Administra-
tion, Department of Labor, and the Pen-
sion Benefit Guaranty Corporation.’’. 
(2) AMENDMENT OF EMPLOYEE RETIREMENT 
INCOME SECURITY ACT OF 1974.— 
(A) IN GENERAL.—Section 404 of the Em-
ployee Retirement Income Security Act of 1974 
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(29 U.S.C. 1104) is amended by adding at the 
end the following new subsection: 
‘‘(e) COORDINATION WITH RETIREMENT SAVINGS 
LOST AND FOUND.— 
‘‘(1) IN GENERAL.—With respect to any lost or 
missing participant of a plan, a fiduciary of the plan 
shall not be treated as failing to satisfy any require-
ment to search for or attempt to locate, or to pro-
vide any document or information to, such indi-
vidual, or any other requirement of this title which 
cannot be satisfied due to the plan’s inability to lo-
cate the participant. 
‘‘(2) LOST
OR
MISSING
PARTICIPANT.—For 
purposes of paragraph (1), the term ‘lost or missing 
participant’ means any participant or former partici-
pant, or the beneficiary of any such individual, with 
respect to whom the plan administrator or other re-
sponsible party (including a plan service provider or 
trustee or issuer of an individual retirement plan re-
ceiving 
a 
transfer 
described 
in 
section 
401(a)(31)(B)) has— 
‘‘(A) satisfied the requirements of section 
6057(a) of the Internal Revenue Code of 1986, 
‘‘(B) made at least one unsuccessful at-
tempt to contact the individual at the most re-
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cent address maintained for the individual in 
the records of the plan, by certified mail or 
other similar delivery service if the most recent 
address is a physical address, and by electronic 
mail or other electronic communication if the 
only address on record is an electronic address, 
and 
‘‘(C) has taken at least one (two, in the 
case of an individual for whom the plan records 
contain only an electronic address) of the addi-
tional measures described in paragraph (3) to 
attempt to locate the individual. 
‘‘(3) ADDITIONAL MEASURES.—The additional 
measures described in this paragraph are the fol-
lowing, when taken by a plan administrator or other 
responsible party: 
‘‘(A) Checked with the administrator of a 
related plan or checked the plan sponsor’s 
records for an updated address. 
‘‘(B) Made at least one unsuccessful at-
tempt to contact the individual’s designated 
plan beneficiary, by the methods described in 
paragraph (2)(B). 
‘‘(C) Performed at least one search using 
free electronic search tools. 
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‘‘(D) Attempted to locate the participant 
using a commercial locator service. 
‘‘(4) CESSATION
OF
STATUS.—An individual 
shall cease to be treated as a lost or missing partici-
pant during any period the plan administrator has 
actual knowledge of the individual’s whereabouts 
and how to contact the individual, except that the 
requirements described in paragraph (1) shall be 
waived for the 180-day period beginning on the date 
the plan administrator first had such actual knowl-
edge. 
‘‘(5) JOINT
REGULATORY
AUTHORITY.—Any 
temporary, proposed, or final regulation or other 
guidance of general applicability under this sub-
section shall be issued jointly by the Internal Rev-
enue Service, Department of the Treasury, the Em-
ployee Benefits Security Administration, Depart-
ment of Labor, and the Pension Benefit Guaranty 
Corporation.’’. 
(B) CONFORMING AMENDMENTS.—Section 
4050(a)(1) of the Employee Retirement Income 
Security Act of 1974 (29 U.S.C. 1350(a)(1)) is 
amended— 
(i) in subparagraph (B)— 
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(I) by striking ‘‘provides’’ and in-
serting ‘‘either— 
‘‘(i) provides’’; 
(II) by striking the period at the 
end and inserting ‘‘; or’’; and 
(III) by adding at the end the 
following new clause: 
‘‘(ii) satisfies the requirements of sec-
tion 6057(a) of the Internal Revenue Code 
of 1986.’’; and 
(ii) by adding at the end the following 
flush language: 
‘‘Any temporary, proposed, or final regulation or 
other guidance of general applicability under this 
subsection shall be issued jointly by the Internal 
Revenue Service, Department of the Treasury, the 
Employee Benefits Security Administration, Depart-
ment of Labor, and the Pension Benefit Guaranty 
Corporation.’’. 
(e) REQUIREMENT OF ELECTRONIC FILING.— 
(1) IN
GENERAL.—Paragraph (2) of section 
6011(e) of the Internal Revenue Code of 1986 is 
amended— 
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rfrederick on DSKBCBPHB2PROD with BILLS
(A) by redesignating subparagraphs (A) 
and (B) as clauses (i) and (ii), respectively, and 
by moving such clauses 2 ems to the right; 
(B) by striking ‘‘the requirements of such 
regulations’’ and all that follows through ‘‘the 
Secretary shall require’’ and inserting ‘‘the re-
quirements of such regulations. 
‘‘(B) CERTAIN
PARTNERSHIPS.—Notwith-
standing subparagraph (A), the Secretary shall 
require’’; 
(C) by striking ‘‘REGULATIONS.—In pre-
scribing’’ and inserting ‘‘REGULATIONS.— 
‘‘(A) IN GENERAL.—In prescribing’’; and 
(D) by adding at the end the following new 
subparagraph: 
‘‘(C) EXCEPTIONS.—Notwithstanding sub-
paragraph (A), the Secretary shall require re-
turns or reports required under— 
‘‘(i) sections 6057, 6058, and 6059, 
and 
‘‘(ii) sections 408(i), 6041, and 6047 
to the extent such return or report relates 
to the tax treatment of a distribution from 
a plan, account, contract, or annuity, 
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to be filed on magnetic media, but only with re-
spect to persons who are required to file at 
least 50 returns during the calendar year which 
includes the first day of the plan year to which 
such returns or reports relate.’’. 
(2) EFFECTIVE DATE.—The amendments made 
by this subsection shall apply to returns and reports 
relating to years beginning after the second Decem-
ber 31 occurring after the date of the enactment of 
this Act. 
(f) SAFEGUARDING PARTICIPANT PRIVACY AND SE-
CURITY.—In establishing the Retirement Savings Lost 
and Found under subsection (a), the Commissioner of So-
cial Security and the Secretary of the Treasury shall take 
all necessary and proper precautions, including consulting 
with the Secretary of Health and Human Services, to en-
sure that individuals’ plan information maintained by the 
Retirement Savings Lost and Found is protected and that 
persons other than the individual cannot fraudulently 
claim the benefits to which any individual is entitled, and 
to allow any individual to opt out of inclusion in the Lost 
and Found at the election of the individual. 
(g) CONFORMING AMENDMENT.—Subparagraph (B) 
of section 6103(l)(1) of the Internal Revenue Code of 
1986 is amended by striking ‘‘responsibility under section 
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1131 of the Social Security Act’’ and inserting ‘‘respon-
sibilities under section 1131 of the Social Security Act and 
section 2(a)(1) of the Retirement Savings Lost and Found 
Act of 2018’’. 
(h) AUTHORIZATION
OF APPROPRIATIONS.—There 
are authorized to be appropriated such sums as may be 
necessary to carry out the purposes of this section. 
SEC. 3. MANDATORY TRANSFERS OF ROLLOVER DISTRIBU-
TIONS. 
(a) INVESTMENT OPTIONS.— 
(1) IN GENERAL.—Subparagraph (B) of section 
404(c)(3) of the Employee Retirement Income Secu-
rity Act of 1974 (29 U.S.C. 1104(c)(3)) is amended 
by striking the period at the end and inserting ‘‘, 
and, to the extent the Secretary provides in guidance 
or regulations issued after the enactment of the Re-
tirement Savings Lost and Found Act of 2018, is 
made to— 
‘‘(i) a target date or life cycle fund 
held under such account; 
‘‘(ii) 
as 
described 
in 
section 
2550.404a–2 of title 29, Code of Federal 
Regulations, an investment product held 
under such account designed to preserve 
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principal and provide a reasonable rate of 
return; 
‘‘(iii) the Director of the Retirement 
Savings Lost and Found in accordance 
with section 4(b)(1) of the Retirement Sav-
ings Lost and Found Act of 2018 or an in-
dividual retirement account (as defined in 
section 408(a) of the Internal Revenue 
Code of 1986) established by the Secretary 
of the Treasury on behalf of the partici-
pant or beneficiary, but only if all applica-
ble reporting requirements are met with re-
spect to such transfer; or 
‘‘(iv) such other option as the Sec-
retary may so provide.’’. 
(2) REGULATIONS.—Not later than 270 days 
after the date of the enactment of this Act, the Sec-
retary of Labor shall promulgate regulations identi-
fying the target date or life cycle funds, or speci-
fying the characteristics of such a fund, that will be 
deemed to meet the requirements of section 
404(c)(3)(B)(i) of the Employee Retirement Income 
Security Act of 1974 (29 U.S.C. 1104(c)(3)(B)), as 
amended by paragraph (1). 
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(b) EXPANSION OF CAP; AUTHORITY TO TRANSFER 
LESSER AMOUNTS.— 
(1) 
CAP.—Sections 
401(a)(31)(B)(ii) 
and 
411(a)(11)(A) of the Internal Revenue Code of 1986 
and section 203(e)(1) of the Employee Retirement 
Income Security Act of 1974 are each amended by 
striking ‘‘$5,000’’ and inserting ‘‘$6,000’’. 
(2) LESSER AMOUNTS.—Subparagraph (B) of 
section 401(a)(31) of such Code is amended by add-
ing at the end the following new clauses: 
‘‘(iii) 
TREATMENT
OF
LESSER 
AMOUNTS.—In the case of a trust which is 
part of an eligible plan, such trust shall 
not be a qualified trust under this section 
unless such plan provides that, if a partici-
pant in the plan separates from the service 
covered by the plan and the nonforfeitable 
accrued benefit described in clause (ii) is 
not in excess of $1,000, the plan adminis-
trator shall (either separately or as part of 
the notice under section 402(f)) notify the 
participant that the participant is entitled 
to such benefit or attempt to pay the ben-
efit directly to the participant. 
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‘‘(iv) TRANSFERS
TO
RETIREMENT 
SAVINGS
LOST
AND
FOUND
OR
TREAS-
URY.—If, after a plan administrator takes 
the action required under clause (iii), the 
participant does not— 
‘‘(I) within 6 months of the noti-
fication under such clause, make an 
election under subparagraph (A) or 
elect to receive a distribution of the 
benefit directly, or 
‘‘(II) accept any direct payment 
made under such clause within 6 
months of the attempted payment, 
the plan administrator shall transfer the 
amount of such benefit to the Director of 
the Retirement Savings Lost and Found in 
accordance with section 4(b)(1) of the Re-
tirement Savings Lost and Found Act of 
2018 or to an individual retirement ac-
count (as defined in section 408(a)) estab-
lished by the Secretary on behalf of the in-
dividual. 
‘‘(v) INCOME
TAX
TREATMENT
OF 
TRANSFERS
TO
RETIREMENT
SAVINGS 
LOST AND FOUND.—For purposes of deter-
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