Source: https://uscode.house.gov/view.xhtml?req=(title:26%20section:4974%20edition:prelim)
Timestamp: 2020-04-02 14:01:45
Document Index: 783254624

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

[USC02] 26 USC 4974: Excise tax on certain accumulations in qualified retirement plans
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26 USC 4974: Excise tax on certain accumulations in qualified retirement plans Text contains those laws in effect on April 1, 2020
§4974. Excise tax on certain accumulations in qualified retirement plans
(b) 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.
(c) Qualified retirement plan
For purposes of this section, the term "qualified retirement plan" means-
(1) the shortfall described in subsection (a) in the amount distributed during any taxable year was due to reasonable error, and
(2) reasonable steps are being taken to remedy the shortfall,
(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 408(b)(3)" for "section 408(a)(6) or (7) or 408(b)(3) or (4)".
Amendment by section 1121(a)(1) of Pub. L. 99–514 applicable 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) of Pub. L. 99–514, set out as a note under section 401 of this title.
Amendment by section 1852(a)(7)(B), (C) of Pub. L. 99–514 effective, 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 of Pub. 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) of Pub. L. 93–406, set out as an Effective Date note under section 4973 of this title.