Source: http://taxtv.com/code/00344-USCODE-2011-title26-subtitleA-chap1-subchapD-partI-subpartA-sec408A/
Timestamp: 2017-11-25 00:00:57
Document Index: 50858572

Matched Legal Cases: ['§408', '§408', '§408', '§302', '§6005', '§7004', '§4002', '§617', '§2', '§824', '§109', '§108', '§108', '§108', '§109', '§109', '§2', '§824', '§2', '§2', '§108', '§824', '§824', '§2', '§824', '§824', '§2', '§2', '§824', '§824', '§109', '§6005', '§6005', '§6005', '§6005', '§7004', '§6005', '§6005', '§6005', '§6005', '§6005', '§6005', '§108', '§824', '§2', '§7004', '§125']

IRC §408A. Roth IRAs - TaxTV.com
IRC §408A. Roth IRAs
View related content: IRC §408
For purposes of this title, the term “Roth IRA” means an individual retirement plan (as defined in section 7701(a)(37)) which is designated (in such manner as the Secretary may prescribe) at the time of establishment of the plan as a Roth IRA. Such designation shall be made in such manner as the Secretary may prescribe.
(I) the taxpayer’s adjusted gross income for such taxable year, over
(ii) the cost-of-living adjustment determined under section 1(f)(3) for the calendar year in which the taxable year begins, determined by substituting “calendar year 2005” for “calendar year 1992” in subparagraph (B) thereof.
The term “qualified distribution” means any payment or distribution—
(iii) attributable to the individual’s being disabled (within the meaning of section 72(m)(7)), or
A payment or distribution from a Roth IRA shall not be treated as a qualified distribution under subparagraph (A) if such payment or distribution is made within the 5-taxable year period beginning with the first taxable year for which the individual made a contribution to a Roth IRA (or such individual’s spouse made a contribution to a Roth IRA) established for such individual.
The term “qualified distribution” shall not include any distribution of any contribution described in section 408(d)(4) and any net income allocable to the contribution.
This paragraph shall apply to a distribution from an eligible retirement plan (as defined by section 402(c)(8)(B)) maintained for the benefit of an individual which is contributed to a Roth IRA maintained for the benefit of such individual in a qualified rollover contribution. This paragraph shall not apply to a distribution which is a qualified rollover contribution from a Roth IRA or a qualified rollover contribution from a designated Roth account which is a rollover contribution described in section 402A(c)(3)(A) 1
For purposes of this section, the term “qualified special purpose distribution” means any distribution to which subparagraph (F) of section 72(t)(2) applies.
For purposes of this subsection, the due date for any taxable year is the date prescribed by law (including extensions of time) for filing the taxpayer’s return for such taxable year.
The term “qualified rollover contribution” means a rollover contribution—
The term “qualified rollover contribution” includes a contribution to a Roth IRA maintained for the benefit of an individual made before the end of the 1-year period beginning on the date on which such individual receives an amount under section 1477 of title 10, United States Code, or section 1967 of title 38 of such Code, with respect to a person, to the extent that such contribution does not exceed—
Section 408(d)(3)(B) shall not apply with respect to amounts treated as a rollover by the 2 subparagraph (A).
(Added Pub. L. 105–34, title III, §302(a), Aug. 5, 1997, 111 Stat. 825; amended Pub. L. 105–206, title VI, §6005(b)(1)–(7), (9), title VII, §7004(a), July 22, 1998, 112 Stat. 796–800, 833; Pub. L. 105–277, div. J, title IV, §4002(j), Oct. 21, 1998, 112 Stat. 2681–908; Pub. L. 107–16, title VI, §617(e)(1), June 7, 2001, 115 Stat. 106; Pub. L. 109–222, title V, §2(a), (b), May 17, 2006, 120 Stat. 365; Pub. L. 109–280, title VIII, §§824(a), (b), 833(c), Aug. 17, 2006, 120 Stat. 998, 1004; Pub. L. 110–245, title I, §109(a), (b), June 17, 2008, 122 Stat. 1631, 1632; Pub. L. 110–458, title I, §108(d), (h), Dec. 23, 2008, 122 Stat. 09.)
2008—Subsec. (c)(3)(B). Pub. L. 110–458, §108(d)(1), in introductory provisions, struck out second “an” before “eligible” and “other than a Roth IRA” before “during any taxable year”, and inserted as concluding provisions “This subparagraph shall not apply to a qualified rollover contribution from a Roth IRA or to a qualified rollover contribution from a designated Roth account which is a rollover contribution described in section 402A(c)(3)(A).”
Subsec. (d)(3)(B). Pub. L. 110–458, §108(d)(2), struck out “(other than a Roth IRA)” after “section 402(c)(8)(B))” and inserted at end “This paragraph shall not apply to a distribution which is a qualified rollover contribution from a Roth IRA or a qualified rollover contribution from a designated Roth account which is a rollover contribution described in section 402A(c)(3)(A)”.
Subsec. (e). Pub. L. 110–245, §109(b), amended subsec. (e), as in effect after amendment by section 824(a) of Pub. L. 109–280, by amending text generally. Prior to amendment, text read as follows: “For purposes of this section, the term ‘qualified rollover contribution’ means a rollover contribution—
“(A) in the case of an individual retirement plan, such rollover contribution meets the requirements of section 408(d)(3), and
“(B) in the case of any eligible retirement plan (as defined in section 402(c)(8)(B) other than clauses (i) and (ii) thereof), such rollover contribution meets the requirements of section 402(c), 403(b)(8), or 457(e)(16), as applicable.
For purposes of section 408(d)(3)(B), there shall be disregarded any qualified rollover contribution from an individual retirement plan (other than a Roth IRA) to a Roth IRA.”
Pub. L. 110–245, §109(a), amended subsec. (e), as in effect before amendment by section 824(a) of Pub. L. 109–280, by reenacting heading without change and amending text to read as follows: “For purposes of this section—
“(1) In general.—The term ‘qualified rollover contribution’ means a rollover contribution to a Roth IRA from another such account, or from an individual retirement plan, but only if such rollover contribution meets the requirements of section 408(d)(3). Such term includes a rollover contribution described in section 402A(c)(3)(A). For purposes of section 408(d)(3)(B), there shall be disregarded any qualified rollover contribution from an individual retirement plan (other than a Roth IRA) to a Roth IRA.
“(ii) the amounts so received which were contributed to a Coverdell education savings account under section 530(d)(9).
“(B) Annual limit on number of rollovers not to apply.—Section 408(d)(3)(B) shall not apply with respect to amounts treated as a rollover by subparagraph (A).
2006—Subsec. (c)(3)(B). Pub. L. 109–222, §2(a)(1), redesignated subpar. (C) as (B) and struck out former subpar. (B). Prior to amendment, text read as follows: “A taxpayer shall not be allowed to make a qualified rollover contribution to a Roth IRA from an individual retirement plan other than a Roth IRA during any taxable year if, for the taxable year of the distribution to which such contribution relates—
This subparagraph shall not apply to a qualified rollover contribution from a Roth IRA or to a qualified rollover contribution from a designated Roth account which is a rollover contribution described in section 402A(c)(3)(A).” See Effective Date of 2006 Amendment note below.
Pub. L. 109–280, §824(b)(1), substituted “eligible retirement plan” for “IRA” in heading and “an eligible retirement plan (as defined by section 402(c)(8)(B))” for “individual retirement plan” in introductory provisions. See Effective Date of 2006 Amendment note below.
Subsec. (c)(3)(B)(i). Pub. L. 109–222, §2(a)(2), substituted “except that any amount included in gross income under subsection (d)(3) shall not be taken into account, and” for “except that—
Subsec. (c)(3)(C). Pub. L. 109–222, §2(a)(1), redesignated subpar. (D), relating to marital status, as (C). Former subpar. (C) redesignated (B). See Effective Date of 2006 Amendment note below.
Subsec. (c)(3)(D), (E). Pub. L. 110–458, §108(h)(2), redesignated subpar. (E) as (D) and substituted “subparagraph (B)(ii)” for “subparagraph (C)(ii)”.
Subsec. (d)(3). Pub. L. 109–280, §824(b)(2)(E), substituted “an eligible retirement plan” for “an IRA” in heading.
Subsec. (d)(3)(A). Pub. L. 109–280, §824(b)(2)(A), substituted “sections 402(c), 403(b)(8), 408(d)(3), and 457(e)(16)” for “section 408(d)(3)” in introductory provisions.
Subsec. (d)(3)(A)(iii). Pub. L. 109–222, §2(b)(1), amended cl. (iii) generally. Prior to amendment, cl. (iii) read as follows: “unless the taxpayer elects not to have this clause apply for any taxable year, any amount required to be included in gross income for such taxable year by reason of this paragraph for any distribution before January 1, 1999, shall be so included ratably over the 4-taxable year period beginning with such taxable year.”
Subsec. (d)(3)(B). Pub. L. 109–280, §824(b)(2)(B), substituted “eligible retirement plan (as defined by section 402(c)(8)(B))” for “individual retirement plan”.
Subsec. (d)(3)(D). Pub. L. 109–280, §824(b)(2)(C), (D), substituted “persons subject to section 6047(d)(1), or all of the foregoing persons” for “or both” and inserted “or 6047” after “408(i)”.
Subsec. (d)(3)(E). Pub. L. 109–222, §2(b)(2)(B), substituted “2-year” for “4-year” in heading.
Subsec. (d)(3)(E)(i). Pub. L. 109–222, §2(b)(2)(A), amended cl. (i) generally. Prior to amendment, text read as follows:
Subsec. (e). Pub. L. 109–280, §824(a), reenacted heading without change and amended text of subsec. (e) generally. Prior to amendments by Pub. L. 109–280, §824(a), and Pub. L. 110–245, §109(a), text read as follows: “For purposes of this section, the term ‘qualified rollover contribution’ means a rollover contribution to a Roth IRA from another such account, or from an individual retirement plan, but only if such rollover contribution meets the requirements of section 408(d)(3). For purposes of section 408(d)(3)(B), there shall be disregarded any qualified rollover contribution from an individual retirement plan (other than a Roth IRA) to a Roth IRA.” See 2008 Amendment note above.
2001—Subsec. (e). Pub. L. 107–16 inserted “Such term includes a rollover contribution described in section 402A(c)(3)(A).” after first sentence.
1998—Subsec. (c)(3)(A). Pub. L. 105–206, §6005(b)(1), substituted “shall not exceed an amount equal to the amount determined under paragraph (2)(A) for such taxable year, reduced” for “shall be reduced” in introductory provisions.
Subsec. (c)(3)(A)(ii). Pub. L. 105–206, §6005(b)(2)(A), inserted “or a married individual filing a separate return” after “joint return”.
Subsec. (c)(3)(B). Pub. L. 105–206, §6005(b)(2)(B)(i), inserted “, for the taxable year of the distribution to which such contribution relates” after “if” in introductory provisions.
Subsec. (c)(3)(B)(i). Pub. L. 105–206, §6005(b)(2)(B)(ii), struck out “for such taxable year” after “gross income”.
Subsec. (c)(3)(C)(i). Pub. L. 105–206, §7004(a), amended cl. (i) generally. Prior to amendment, cl. (i) read as follows: “adjusted gross income shall be determined in the same manner as under section 219(g)(3), except that any amount included in gross income under subsection (d)(3) shall not be taken into account, and”.
Pub. L. 105–206, §6005(b)(2)(C), struck out “and the deduction under section 219 shall be taken into account” after “taken into account”.
Subsec. (c)(3)(C)(i)(II). Pub. L. 105–277 substituted “, and” for period at end.
Subsec. (d)(1). Pub. L. 105–206, §6005(b)(5)(B), substituted “Exclusion” for “General rules” in heading and amended text generally. Prior to amendment, text read as follows:
Subsec. (d)(2)(B). Pub. L. 105–206, §6005(b)(3)(A), added subpar. (B) and struck out heading and text of former subpar. (B). Text read as follows: “A payment or distribution shall not be treated as a qualified distribution under subparagraph (A) if—
Subsec. (d)(3)(A). Pub. L. 105–206, §6005(b)(4)(A), added cl. (iii) and concluding provisions and struck out former cl. (iii) which read as follows: “in the case of a distribution before January 1, 1999, any amount required to be included in gross income by reason of this paragraph shall be so included ratably over the 4-taxable year period beginning with the taxable year in which the payment or distribution is made.”
Subsec. (d)(3)(D). Pub. L. 105–206, §6005(b)(6)(B), redesignated subpar. (E) as (D) and struck out heading and text of former subpar. (D). Text read as follows: “If, no later than the due date for filing the return of tax for any taxable year (without regard to extensions), an individual transfers, from an individual retirement plan (other than a Roth IRA), contributions for such taxable year (and any earnings allocable thereto) to a Roth IRA, no such amount shall be includible in gross income to the extent no deduction was allowed with respect to such amount.”
Subsec. (d)(4). Pub. L. 105–206, §6005(b)(5)(A), substituted “Aggregation and ordering rules” for “Coordination with individual retirement accounts” in heading and amended text generally. Prior to amendment, text read as follows: “Section 408(d)(2) shall be applied separately with respect to Roth IRAs and other individual retirement plans.”
Pub. L. 110–458, title I, §108(h)(2), Dec. 23, 2008, 122 Stat. 09, amended this section “[i]n the case of taxable years beginning after December 31, 2009”.
Pub. L. 109–280, title VIII, §824(c), Aug. 17, 2006, 120 Stat. 999, provided that: “The amendments made by this section [amending this section] shall apply to distributions after December 31, 2007.”
Pub. L. 109–222, title V, §2(c), May 17, 2006, 120 Stat. 366, provided that: “The amendments made by this section [amending this section] shall apply to taxable years beginning after December 31, 2009.”
Pub. L. 105–206, title VII, §7004(b), July 22, 1998, 112 Stat. 833, provided that: “The amendment made by this section [amending this section] shall apply to taxable years beginning after December 31, 2004.”
Pub. L. 110–458, title I, §125, Dec. 23, 2008, 122 Stat. 15, provided that:
2 So in original. The word “the” probably should not appear.