Source: https://www.law.cornell.edu/uscode/text/26/4974
Timestamp: 2015-03-06 08:21:29
Document Index: 490784676

Matched Legal Cases: ['§ 4974', '§ 4974', '§ 4974', '§ 2002', '§ 1906', '§ 157', '§ 1121', '§ 1852', '§ 1121', '§ 1852', '§ 1852', '§ 157']

26 U.S. Code § 4974 - Excise tax on certain accumulations in qualified retirement plans | LII / Legal Information Institute
U.S. Code › Title 26 › Subtitle D › Chapter 43 › § 4974 26 U.S. Code § 4974 - Excise tax on certain accumulations in qualified retirement plans
General rule If the amount distributed during the taxable year of the payee under any qualified retirement plan or any eligible deferred compensation plan (as defined in section 457
(b)) is less than the minimum required distribution for such taxable year, there is hereby imposed a tax equal to 50 percent of the amount by which such minimum required distribution exceeds the actual amount distributed during the taxable year. The tax imposed by this section shall be paid by the payee.
Minimum required distribution For purposes of this section, the term “minimum required distribution” means the minimum amount required to be distributed during a taxable year under section 401
(a)(9), 403
(b)(10), 408
(a)(6), 408
(b)(3), or 457
(d)(2), as the case may be, as determined under regulations prescribed by the Secretary.
Qualified retirement plan For purposes of this section, the term “qualified retirement plan” means—
Waiver of tax in certain cases If the taxpayer establishes to the satisfaction of the Secretary that—
the shortfall described in subsection (a) in the amount distributed during any taxable year was due to reasonable error, and
reasonable steps are being taken to remedy the shortfall,
the Secretary may waive the tax imposed by subsection (a) for the taxable year.
(Added Pub. L. 93–406, title II, § 2002(e),Sept. 2, 1974, 88 Stat. 967; amended Pub. L. 94–455, title XIX, § 1906(b)(13)(A),Oct. 4, 1976, 90 Stat. 1834; Pub. L. 95–600, title I, § 157(i)(1),Nov. 6, 1978, 92 Stat. 2808; Pub. L. 99–514, title XI, § 1121(a)(1), title XVIII, § 1852(a)(7)(B), (C),Oct. 22, 1986, 100 Stat. 2464, 2866.)
1986—Pub. L. 99–514, § 1121(a)(1), amended section generally, substituting provisions imposing an excise tax on certain accumulations in qualified retirement plans for provisions imposing an excise tax on certain accumulations in individual retirement accounts and annuities.
Subsec. (a). Pub. L. 99–514, § 1852(a)(7)(B), substituted “section 408
(a)(6) or 408
(b)(3)” for “section 408
(a)(6) or (7), or 408
(b)(3) or (4)”.
Subsec. (b). Pub. L. 99–514, § 1852(a)(7)(C), substituted “section 408
(a)(6) or (7) or 408
1978—Subsec. (c). Pub. L. 95–600added subsec. (c).
Amendment by section 1121(a)(1) ofPub. L. 99–514applicable to years beginning after Dec. 31, 1988, with special provisions for plans maintained pursuant to collective bargaining agreements ratified before Mar. 1, 1986, and transition rules, see section 1121(d) ofPub. L. 99–514, set out as a note under section 401 of this title.
Amendment by section 1852(a)(7)(B), (C) ofPub. L. 99–514effective, 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 ofPub. L. 99–514, set out as a note under section 48 of this title.
Pub. L. 95–600, title I, § 157(i)(2),Nov. 6, 1978, 92 Stat. 2809, provided that: “The amendment made by paragraph (1) [amending this section] shall apply to taxable years beginning after December 31, 1975.”
Section effective Jan. 1, 1975, see section 2002(i)(2) ofPub. L. 93–406, set out as an Effective Date note under section 4973 of this title.
We truncate results at 20000 items. After that, you're on your own. Required Distributions : 2014-09-12
Waiver of Tax in Certain Cases : 2014-09-12
Tax on Excess Contributions to Individual Retirement Accounts, Certain 403(b) Contracts and Certain Individual Retirement Annuities : 2014-08-08
Imposition of Gift Tax (Imposed v. Not Imposed) : 2014-08-08
Rollover Contributions : 2014-08-08
In General : 2008-03-14
Employee Dies Before Entire Interest Distributed : 2008-03-14
Excise Tax on Certain Accumulations in Qualified Retirement Plans : 2008-03-14
Excise Tax on Certain Accumulations in Qualified Retirement Plans : 2002-05-31
By a Surviving Spouse : 2002-05-31
By a Surviving Spouse : 2002-01-25
Excise Tax on Certain Accumulations in Qualified Retirement Plans : 2002-01-25
Excise Tax on Certain Accumulations in Qualified Retirement Plans : 1999-12-03
By a Surviving Spouse : 1999-12-03
By a Surviving Spouse : 1999-07-30
Excise Tax on Certain Accumulations in Qualified Retirement Plans : 1999-07-30