Source: http://www.law.cornell.edu/uscode/text/26/4976?quicktabs_8=3
Timestamp: 2013-05-21 12:05:16
Document Index: 435507031

Matched Legal Cases: ['§ 4976', '§ 4976', '§ 4976', '§ 511', '§ 1851', '§ 1011', '§ 3021', '§ 203', '§ 3021', '§ 1011', '§ 1011', '§ 1011', '§ 1011', '§ 3021', '§ 3021', '§ 1011']

26 USC § 4976 - Taxes with respect to funded welfare benefit plans | Title 26 - Internal Revenue Code | U.S. Code | LII / Legal Information Institute
USC › Title 26 › Subtitle D › Chapter 43 › § 4976	prevnext
26 USC § 4976 - Taxes with respect to funded welfare benefit plans
there is a disqualified benefit provided during any taxable year,
Disqualified benefit For purposes of subsection (a)—
In general The term “disqualified benefit” means—
any post-retirement medical benefit or life insurance benefit provided with respect to a key employee if a separate account is required to be established for such employee under section 419A
(d) and such payment is not from such account,
any post-retirement medical benefit or life insurance benefit provided with respect to an individual in whose favor discrimination is prohibited unless the plan meets the requirements of section 505
(b) with respect to such benefit (whether or not such requirements apply to such plan), and
Exception for collective bargaining plans Paragraph (1)(B) shall not apply to any plan maintained pursuant to an agreement between employee representatives and 1 or more employers if the Secretary finds that such agreement is a collective bargaining agreement and that the benefits referred to in paragraph (1)(B) were the subject of good faith bargaining between such employee representatives and such employer or employers.
Exception for nondeductible contributions Paragraph (1)(C) shall not apply to any amount attributable to a contribution to the fund which is not allowable as a deduction under section 419 for the taxable year or any prior taxable year (and such contribution shall not be included in any carryover under section 419
Exception for certain amounts charged against existing reserve Subparagraphs (A) and (B) of paragraph (1) shall not apply to post-retirement benefits charged against an existing reserve for post-retirement medical or life insurance benefits (as defined in section 512
(a)(3)(E)) or charged against the income on such reserve.
Definitions For purposes of this section, the terms used in this section shall have the same respective meanings as when used in subpart D of part I of subchapter D of chapter 1.
(Added Pub. L. 98–369, div. A, title V, § 511(c)(1),July 18, 1984, 98 Stat. 861; amended Pub. L. 99–514, title XVIII, § 1851(a)(11),Oct. 22, 1986, 100 Stat. 2861; Pub. L. 100–647, title I, § 1011B(a)(27)(A), (B), title III, § 3021(a)(1)(C),Nov. 10, 1988, 102 Stat. 3487, 3626; Pub. L. 101–140, title II, § 203(a)(2),Nov. 8, 1989, 103 Stat. 830.)
Pub. L. 101–140amended this section to read as if the amendments made by section 1011B(a)(27) ofPub. L. 100–647(enacting subsec. (c)) had not been enacted. Subsequent to enactment by Pub. L. 100–647, subsec. (c) was amended by Pub. L. 100–647, § 3021(a)(1)(C). See 1988 Amendment note below.
1989—Subsec. (b)(5). Pub. L. 101–140amended subsec. (b) to read as if amendments by Pub. L. 100–647, § 1011B(a)(27)(B), had not been enacted, see 1988 Amendment note below.
Subsecs. (c), (d). Pub. L. 101–140amended this section to read as if amendments by Pub. L. 100–647, § 1011B(a)(27)(A), had not been enacted, see 1988 Amendment note below.
1988—Subsec. (b)(5). Pub. L. 100–647, § 1011B(a)(27)(B), added par. (5) relating to limitation in case of benefits to which section 89 applies.
Subsec. (c). Pub. L. 100–647, § 1011B(a)(27)(A), added subsec. (c) relating to tax on funded welfare benefit funds which include discriminatory employee benefit plan. Former subsec. (c) redesignated (d).
Subsec. (c)(1)(B). Pub. L. 100–647, § 3021(a)(1)(C)(i), substituted “any testing year (as defined in section 89
(j)(13))” for “any plan year”, see Codification note above.
Subsec. (c)(2)(A). Pub. L. 100–647, § 3021(a)(1)(C)(ii), substituted “testing” for “plan” in cls. (i) and (ii), see Codification note above.
Subsec. (d). Pub. L. 100–647, § 1011B(a)(27)(A), redesignated former subsec. (c) as (d).
1986—Subsec. (b). Pub. L. 99–514amended subsec. (b) generally. Prior to amendment, subsec. (b) read as follows: “For purposes of subsection (a), the term ‘disqualified benefit’ means—
“(1) any medical benefit or life insurance benefit provided with respect to a key employee other than from a separate account established for such owner under section 419A
“(2) any post-retirement medical or life insurance benefit unless the plan meets the requirements of section 505
(b)(1) with respect to such benefit, and
“(3) any portion of such fund reverting to the benefit of the employer.”
Amendment by section 1011B(a)(27)(A), (B) ofPub. L. 100–647effective, 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) ofPub. L. 100–647, set out as a note under section 1 of this title.
Amendment by section 3021(a)(1)(C) ofPub. L. 100–647effective as if included in the amendments by section 1151 ofPub. L. 99–514, see section 3021(d)(1) ofPub. L. 100–647, set out as a note under section 129 of this title.
Section applicable to benefits provided after Dec. 31, 1985, see section 511(e)(7) ofPub. L. 98–369, set out as a note under section 419 of this title.