General rules for annuities
Income inclusion
Except as otherwise provided in this chapter, gross income includes any amount received as an annuity (whether for a period certain or during one or more lives) under an annuity, endowment, or life insurance contract.
Partial annuitization
Exclusion ratio
In general
Gross income does not include that part of any amount received as an annuity under an annuity, endowment, or life insurance contract which bears the same ratio to such amount as the investment in the contract (as of the annuity starting date) bears to the expected return under the contract (as of such date).
Exclusion limited to investment
The portion of any amount received as an annuity which is excluded from gross income under paragraph (1) shall not exceed the unrecovered investment in the contract immediately before the receipt of such amount.
Deduction where annuity payments cease before entire investment recovered
In general
Payments to other persons
In the case of any contract which provides for payments meeting the requirements of subparagraphs (B) and (C) of subsection (c)(2), the deduction under subparagraph (A) shall be allowed to the person entitled to such payments for the taxable year in which such payments are received.
Net operating loss deductions provided
For purposes of section 172, a deduction allowed under this paragraph shall be treated as if it were attributable to a trade or business of the taxpayer.
Unrecovered investment
Definitions
Investment in the contract
Adjustment in investment where there is refund feature
Expected return
Life expectancy
If the expected return under the contract, for the period on and after the annuity starting date, depends in whole or in part on the life expectancy of one or more individuals, the expected return shall be computed with reference to actuarial tables prescribed by the Secretary.
Installment payments
If subparagraph (A) does not apply, the expected return is the aggregate of the amounts receivable under the contract as an annuity.
Annuity starting date
For purposes of this section, the annuity starting date in the case of any contract is the first day of the first period for which an amount is received as an annuity under the contract.
Special rules for qualified employer retirement plans
Simplified method of taxing annuity payments
In general
Method of recovering investment in contract
In general
Certain rules made applicable
Rules similar to the rules of paragraphs (2) and (3) of subsection (b) shall apply for purposes of this paragraph.
Number of anticipated payments
If the age of the annuitant on the annuity starting date is: | The number of anticipated payments is: |
|---|---|
Not more than 55 | 360 |
More than 55 but not more than 60 | 310 |
More than 60 but not more than 65 | 260 |
More than 65 but not more than 70 | 210 |
More than 70 | 160. |
Number of anticipated payments where more than one life
If the combined ages of annuitants are: | The number is: |
|---|---|
Not more than 110 | 410 |
More than 110 but not more than 120 | 360 |
More than 120 but not more than 130 | 310 |
More than 130 but not more than 140 | 260 |
More than 140 | 210. |
Adjustment for refund feature not applicable
For purposes of this paragraph, investment in the contract shall be determined under subsection (c)(1) without regard to subsection (c)(2).
Special rule where lump sum paid in connection with commencement of annuity payments
Exception
This paragraph shall not apply in any case where the primary annuitant has attained age 75 on the annuity starting date unless there are fewer than 5 years of guaranteed payments under the annuity.
Adjustment where annuity payments not on monthly basis
In any case where the annuity payments are not made on a monthly basis, appropriate adjustments in the application of this paragraph shall be made to take into account the period on the basis of which such payments are made.
Qualified employer retirement plan
For purposes of this paragraph, the term “qualified employer retirement plan” means any plan or contract described in paragraph (1), (2), or (3) of section 4974(c).
Treatment of employee contributions under defined contribution plans
For purposes of this section, employee contributions (and any income allocable thereto) under a defined contribution plan may be treated as a separate contract.
Treatment of contributions to a pension-linked emergency savings account
For purposes of this section, contributions to a pension-linked emergency savings account to which section 402A(e) applies (and any income allocable thereto) may be treated as a separate contract.
Amounts not received as annuities
Application of subsection
In general
Dividends
For purposes of this section, any amount received which is in the nature of a dividend or similar distribution shall be treated as an amount not received as an annuity.
General rule
Allocation of amounts to income and investment
Allocation to income
Allocation to investment
Any amount to which this subsection applies shall be treated as allocable to investment in the contract to the extent that such amount is not allocated to income under subparagraph (A).
Special rules for application of paragraph (2)(B)
Loans treated as distributions
Treatment of policyholder dividends
Any amount described in paragraph (1)(B) shall not be included in gross income under paragraph (2)(B)(i) to the extent such amount is retained by the insurer as a premium or other consideration paid for the contract.
Treatment of transfers without adequate consideration
In general
Exception for certain transfers between spouses or former spouses
Clause (i) shall not apply to any transfer to which section 1041(a) (relating to transfers of property between spouses or incident to divorce) applies.
Adjustment to investment in contract of transferee
If under clause (i) an amount is included in the gross income of the transferor of an annuity contract, the investment in the contract of the transferee in such contract shall be increased by the amount so included.
Retention of existing rules in certain cases
In general
Existing contracts
This paragraph shall apply to contracts entered into before . Any amount allocable to investment in the contract after , shall be treated as from a contract entered into after such date.
Certain life insurance and endowment contracts
Except as provided in paragraph (10) and except to the extent prescribed by the Secretary by regulations, this paragraph shall apply to any amount not received as an annuity which is received under a life insurance or endowment contract.
Contracts under qualified plans
Full refunds, surrenders, redemptions, and maturities
Investment in the contract
Pub. L. 100–647, title I, § 1011A(b)(9)(A)102 Stat. 3474 Repealed. , , ]
11 So in original. Probably should be paragraph “(2)(B)”. Extension of paragraph (2)(b) to qualified plans
In general
Notwithstanding any other provision of this subsection, in the case of any amount received before the annuity starting date from a trust or contract described in paragraph (5)(D), paragraph (2)(B) shall apply to such amounts.
Allocation of amount received
For purposes of paragraph (2)(B), the amount allocated to the investment in the contract shall be the portion of the amount described in subparagraph (A) which bears the same ratio to such amount as the investment in the contract bears to the account balance. The determination under the preceding sentence shall be made as of the time of the distribution or at such other time as the Secretary may prescribe.
Treatment of forfeitable rights
If an employee does not have a nonforfeitable right to any amount under any trust or contract to which subparagraph (A) applies, such amount shall not be treated as part of the account balance.
Investment in the contract before 1987
In the case of a plan which on , permitted withdrawal of any employee contributions before separation from service, subparagraph (A) shall apply only to the extent that amounts received before the annuity starting date (when increased by amounts previously received under the contract after ) exceed the investment in the contract as of .
Extension of paragraph (2)(B) to qualified tuition programs and Coverdell education savings accounts
Notwithstanding any other provision of this subsection, paragraph (2)(B) shall apply to amounts received under a qualified tuition program (as defined in section 529(b)) or under a Coverdell education savings account (as defined in section 530(b)). The rule of paragraph (8)(B) shall apply for purposes of this paragraph.
Treatment of modified endowment contracts
In general
Treatment of certain burial contracts
Notwithstanding subparagraph (A), paragraph (4)(A) shall not apply to any assignment (or pledge) of a modified endowment contract if such assignment (or pledge) is solely to cover the payment of expenses referred to in section 7702(e)(2)(C)(iii) and if the maximum death benefit under such contract does not exceed $25,000.
Special rules for certain combination contracts providing long-term care insurance
Anti-abuse rules
In general
Regulatory authority
The Secretary may by regulations prescribe such additional rules as may be necessary or appropriate to prevent avoidance of the purposes of this subsection through serial purchases of contracts or otherwise.
Special rules for computing employees’ contributions
Rules for transferee where transfer was for value
Option to receive annuity in lieu of lump sum
Pub. L. 94–455, title XIX, § 1951(b)(1)(A)90 Stat. 1836 Repealed. , , ]
Interest
Notwithstanding any other provision of this section, if any amount is held under an agreement to pay interest thereon, the interest payments shall be included in gross income.
Pub. L. 98–369, div. A, title IV, § 421(b)(1)98 Stat. 794 Repealed. , , ]
Face-amount certificates
For purposes of this section, the term “endowment contract” includes a face-amount certificate, as defined in section 2(a)(15) of the Investment Company Act of 1940 (15 U.S.C., sec. 80a–2), issued after .
Special rules applicable to employee annuities and distributions under employee plans
Pub. L. 93–406, title II, § 2001(h)(2)88 Stat. 957 Repealed. , , ]
Computation of consideration paid by the employee
Life insurance contracts
Pub. L. 97–248, title II, § 236(b)(1)96 Stat. 510 Repealed. , , ]
Penalties applicable to certain amounts received by 5-percent owners
Owner-employee defined
For purposes of this subsection, the term “owner-employee” has the meaning assigned to it by section 401(c)(3) and includes an individual for whose benefit an individual retirement account or annuity described in section 408(a) or (b) is maintained. For purposes of the preceding sentence, the term “owner-employee” shall include an employee within the meaning of section 401(c)(1).
Meaning of disabled
For purposes of this section, an individual shall be considered to be disabled if he is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or to be of long-continued and indefinite duration. An individual shall not be considered to be disabled unless he furnishes proof of the existence thereof in such form and manner as the Secretary may require.
Pub. L. 97–248, title II, § 236(b)(1)96 Stat. 510 Repealed. , , ]
Pub. L. 98–369, div. A, title VII, § 713(d)(1)98 Stat. 957 Repealed. , , ]
Determination of investment in the contract in the case of qualified domestic relations orders
Under regulations prescribed by the Secretary, in the case of a distribution or payment made to an alternate payee who is the spouse or former spouse of the participant pursuant to a qualified domestic relations order (as defined in section 414(p)), the investment in the contract as of the date prescribed in such regulations shall be allocated on a pro rata basis between the present value of such distribution or payment and the present value of all other benefits payable with respect to the participant to which such order relates.
Annuities under retired serviceman’s family protection plan or survivor benefit plan
Subsection (b) shall not apply in the case of amounts received after , as an annuity under chapter 73 of title 10 of the United States Code, but all such amounts shall be excluded from gross income until there has been so excluded (under section 122(b)(1) or this section, including amounts excluded before ) an amount equal to the consideration for the contract (as defined by section 122(b)(2)), plus any amount treated pursuant to section 101(b)(2)(D) (as in effect on the day before the date of the enactment of the Small Business Job Protection Act of 1996) as additional consideration paid by the employee. Thereafter all amounts so received shall be included in gross income.
Special rules for distributions from qualified plans to which employee made deductible contributions
Treatment of contributions
For purposes of this section and sections 402 and 403, notwithstanding section 414(h), any deductible employee contribution made to a qualified employer plan or government plan shall be treated as an amount contributed by the employer which is not includible in the gross income of the employee.
Pub. L. 100–647, title I, § 1011A(c)(8)102 Stat. 3476 Repealed. , , ]
Amounts constructively received
In general
For purposes of this subsection, rules similar to the rules provided by subsection (p) (other than the exception contained in paragraph (2) thereof) shall apply.
Purchase of life insurance
To the extent any amount of accumulated deductible employee contributions of an employee are applied to the purchase of life insurance contracts, such amount shall be treated as distributed to the employee in the year so applied.
Special rule for treatment of rollover amounts
For purposes of sections 402(c), 403(a)(4), 403(b)(8), 408(d)(3), and 457(e)(16), the Secretary shall prescribe regulations providing for such allocations of amounts attributable to accumulated deductible employee contributions, and for such other rules, as may be necessary to insure that such accumulated deductible employee contributions do not become eligible for additional tax benefits (or freed from limitations) through the use of rollovers.
Definitions and special rules
Deductible employee contributions
The term “deductible employee contributions” means any qualified voluntary employee contribution (as defined in section 219(e)(2)) made after , in a taxable year beginning after such date and made for a taxable year beginning before , and allowable as a deduction under section 219(a) for such taxable year.
Accumulated deductible employee contributions
Qualified employer plan
The term “qualified employer plan” has the meaning given to such term by subsection (p)(3)(A)(i).
Government plan
The term “government plan” has the meaning given such term by subsection (p)(3)(B).
Ordering rules
Unless the plan specifies otherwise, any distribution from such plan shall not be treated as being made from the accumulated deductible employee contributions, until all other amounts to the credit of the employee have been distributed.
Loans treated as distributions
Treatment as distributions
Loans
If during any taxable year a participant or beneficiary receives (directly or indirectly) any amount as a loan from a qualified employer plan, such amount shall be treated as having been received by such individual as a distribution under such plan.
Assignments or pledges
If during any taxable year a participant or beneficiary assigns (or agrees to assign) or pledges (or agrees to pledge) any portion of his interest in a qualified employer plan, such portion shall be treated as having been received by such individual as a loan from such plan.
Exception for certain loans
General rule
Requirement that loan be repayable within 5 years
In general
Subparagraph (A) shall not apply to any loan unless such loan, by its terms, is required to be repaid within 5 years.
Exception for home loans
Clause (i) shall not apply to any loan used to acquire any dwelling unit which within a reasonable time is to be used (determined at the time the loan is made) as the principal residence of the participant.
Requirement of level amortization
Except as provided in regulations, this paragraph shall not apply to any loan unless substantially level amortization of such loan (with payments not less frequently than quarterly) is required over the term of the loan.
Prohibition of loans through credit cards and other similar arrangements
Subparagraph (A) shall not apply to any loan which is made through the use of any credit card or any other similar arrangement.
Related employers and related plans
Denial of interest deductions in certain cases
In general
No deduction otherwise allowable under this chapter shall be allowed under this chapter for any interest paid or accrued on any loan to which paragraph (1) does not apply by reason of paragraph (2) during the period described in subparagraph (B).
Period to which subparagraph (A) applies
Qualified employer plan, etc.
Qualified employer plan
In general
Special rule
The term “qualified employer plan” shall include any plan which was (or was determined to be) a qualified employer plan or a government plan.
Government plan
The term “government plan” means any plan, whether or not qualified, established and maintained for its employees by the United States, by a State or political subdivision thereof, or by an agency or instrumentality of any of the foregoing.
Special rules for loans, etc., from certain contracts
For purposes of this subsection, any amount received as a loan under a contract purchased under a qualified employer plan (and any assignment or pledge with respect to such a contract) shall be treated as a loan under such employer plan.
Increase in limit on loans not treated as distributions
In general
Delay of repayment
Definitions
Qualified individual
Applicable period
Other terms
10-percent penalty for premature distributions from annuity contracts
Imposition of penalty
If any taxpayer receives any amount under an annuity contract, the taxpayer’s tax under this chapter for the taxable year in which such amount is received shall be increased by an amount equal to 10 percent of the portion of such amount which is includible in gross income.
Subsection not to apply to certain distributions
Change in substantially equal payments
In general
Exchanges to subsequent contracts
Certain railroad retirement benefits treated as received under employer plans
In general
Notwithstanding any other provision of law, any benefit provided under the Railroad Retirement Act of 1974 (other than a tier 1 railroad retirement benefit) shall be treated for purposes of this title as a benefit provided under an employer plan which meets the requirements of section 401(a).
Tier 2 taxes treated as contributions
In general
Tier 2 portion
After 1984
With respect to compensation paid after 1984, the tier 2 portion shall be the taxes imposed by sections 3201(b), 3211(b), and 3221(b).
After , and before 1985
Before
Contributions not allocable to supplemental annuity or windfall benefits
Tier 1 railroad retirement benefit
For purposes of paragraph (1), the term “tier 1 railroad retirement benefit” has the meaning given such term by section 86(d)(4).
Required distributions where holder dies before entire interest is distributed
In general
Exception for certain amounts payable over life of beneficiary
Special rule where surviving spouse beneficiary
If the designated beneficiary referred to in paragraph (2)(A) is the surviving spouse of the holder of the contract, paragraphs (1) and (2) shall be applied by treating such spouse as the holder of such contract.
Designated beneficiary
For purposes of this subsection, the term “designated beneficiary” means any individual designated a beneficiary by the holder of the contract.
Exception for certain annuity contracts
Special rule where holder is corporation or other non-individual
In general
For purposes of this subsection, if the holder of the contract is not an individual, the primary annuitant shall be treated as the holder of the contract.
Primary annuitant
For purposes of subparagraph (A), the term “primary annuitant” means the individual, the events in the life of whom are of primary importance in affecting the timing or amount of the payout under the contract.
Treatment of changes in primary annuitant where holder of contract is not an individual
For purposes of this subsection, in the case of a holder of an annuity contract which is not an individual, if there is a change in a primary annuitant (as defined in paragraph (6)(B)), such change shall be treated as the death of the holder.
10-percent additional tax on early distributions from qualified retirement plans
Imposition of additional tax
If any taxpayer receives any amount from a qualified retirement plan (as defined in section 4974(c)), the taxpayer’s tax under this chapter for the taxable year in which such amount is received shall be increased by an amount equal to 10 percent of the portion of such amount which is includible in gross income.
Subsection not to apply to certain distributions
In general
Medical expenses
Distributions made to the employee (other than distributions described in subparagraph (A), (C), or (D)) to the extent such distributions do not exceed the amount allowable as a deduction under section 213 to the employee for amounts paid during the taxable year for medical care (determined without regard to whether the employee itemizes deductions for such taxable year).
Payments to alternate payees pursuant to qualified domestic relations orders
Any distribution to an alternate payee pursuant to a qualified domestic relations order (within the meaning of section 414(p)(1)).
Distributions to unemployed individuals for health insurance premiums
In general
Distributions after reemployment
Clause (i) shall not apply to any distribution made after the individual has been employed for at least 60 days after the separation from employment to which clause (i) applies.
Self-employed individuals
To the extent provided in regulations, a self-employed individual shall be treated as meeting the requirements of clause (i)(I) if, under Federal or State law, the individual would have received unemployment compensation but for the fact the individual was self-employed.
Distributions from individual retirement plans for higher education expenses
Distributions to an individual from an individual retirement plan to the extent such distributions do not exceed the qualified higher education expenses (as defined in paragraph (7)) of the taxpayer for the taxable year. Distributions shall not be taken into account under the preceding sentence if such distributions are described in subparagraph (A), (C), or (D) or to the extent paragraph (1) does not apply to such distributions by reason of subparagraph (B).
Distributions from certain plans for first home purchases
Distributions to an individual from an individual retirement plan which are qualified first-time homebuyer distributions (as defined in paragraph (8)). Distributions shall not be taken into account under the preceding sentence if such distributions are described in subparagraph (A), (C), (D), or (E) or to the extent paragraph (1) does not apply to such distributions by reason of subparagraph (B).
Distributions from retirement plans to individuals called to active duty
In general
Any qualified reservist distribution.
Amount distributed may be repaid
Any individual who receives a qualified reservist distribution may, at any time during the 2-year period beginning on the day after the end of the active duty period, make one or more contributions to an individual retirement plan of such individual in an aggregate amount not to exceed the amount of such distribution. The dollar limitations otherwise applicable to contributions to individual retirement plans shall not apply to any contribution made pursuant to the preceding sentence. No deduction shall be allowed for any contribution pursuant to this clause.
Qualified reservist distribution
Application of subparagraph
This subparagraph applies to individuals ordered or called to active duty after . In no event shall the 2-year period referred to in clause (ii) end before the date which is 2 years after the date of the enactment of this subparagraph.
Distributions from retirement plans in case of birth of child or adoption
In general
Any qualified birth or adoption distribution.
Limitation
The aggregate amount which may be treated as qualified birth or adoption distributions by any individual with respect to any birth or adoption shall not exceed $5,000.
Qualified birth or adoption distribution
In general
The term “qualified birth or adoption distribution” means any distribution from an applicable eligible retirement plan to an individual if made during the 1-year period beginning on the date on which a child of the individual is born or on which the legal adoption by the individual of an eligible adoptee is finalized.
Eligible adoptee
The term “eligible adoptee” means any individual (other than a child of the taxpayer’s spouse) who has not attained age 18 or is physically or mentally incapable of self-support.
Treatment of plan distributions
In general
If a distribution to an individual would (without regard to clause (ii)) be a qualified birth or adoption distribution, a plan shall not be treated as failing to meet any requirement of this title merely because the plan treats the distribution as a qualified birth or adoption distribution, unless the aggregate amount of such distributions from all plans maintained by the employer (and any member of any controlled group which includes the employer) to such individual exceeds $5,000.
Controlled group
oFor purposes of subclause (I), the term “controlled group” means any group treated as a single employer under subsection (b), (c), (m), or () of section 414.
Amount distributed may be repaid
In general
Any individual who receives a qualified birth or adoption distribution may, at any time during the 3-year period beginning on the day after the date on which such distribution was received, make one or more contributions in an aggregate amount not to exceed the amount of such distribution to an applicable eligible retirement plan of which such individual is a beneficiary and to which a rollover contribution of such distribution could be made under section 402(c), 403(a)(4), 403(b)(8), 408(d)(3), or 457(e)(16), as the case may be.
Limitation on contributions to applicable eligible retirement plans other than IRAs
The aggregate amount of contributions made by an individual under subclause (I) to any applicable eligible retirement plan which is not an individual retirement plan shall not exceed the aggregate amount of qualified birth or adoption distributions which are made from such plan to such individual. Subclause (I) shall not apply to contributions to any applicable eligible retirement plan which is not an individual retirement plan unless the individual is eligible to make contributions (other than those described in subclause (I)) to such applicable eligible retirement plan.
Treatment of repayments of distributions from applicable eligible retirement plans other than IRAs
If a contribution is made under subclause (I) with respect to a qualified birth or adoption distribution from an applicable eligible retirement plan other than an individual retirement plan, then the taxpayer shall, to the extent of the amount of the contribution, be treated as having received such distribution in an eligible rollover distribution (as defined in section 402(c)(4)) and as having transferred the amount to the applicable eligible retirement plan in a direct trustee to trustee transfer within 60 days of the distribution.
Treatment of repayments for distributions from IRAs
If a contribution is made under subclause (I) with respect to a qualified birth or adoption distribution from an individual retirement plan, then, to the extent of the amount of the contribution, such distribution shall be treated as a distribution described in section 408(d)(3) and as having been transferred to the applicable eligible retirement plan in a direct trustee to trustee transfer within 60 days of the distribution.
Definition and special rules
Applicable eligible retirement plan
The term “applicable eligible retirement plan” means an eligible retirement plan (as defined in section 402(c)(8)(B)) other than a defined benefit plan.
Exemption of distributions from trustee to trustee transfer and withholding rules
For purposes of sections 401(a)(31), 402(f), and 3405, a qualified birth or adoption distribution shall not be treated as an eligible rollover distribution.
Taxpayer must include TIN
A distribution shall not be treated as a qualified birth or adoption distribution with respect to any child or eligible adoptee unless the taxpayer includes the name, age, and TIN of such child or eligible adoptee on the taxpayer’s return of tax for the taxable year.
Distributions treated as meeting plan distribution requirements
Any qualified birth or adoption distribution shall be treated as meeting the requirements of sections 401(k)(2)(B)(i), 403(b)(7)(A)(i), 403(b)(11), and 457(d)(1)(A).
Distributions for certain emergency expenses
In general
Any emergency personal expense distribution.
Annual limitation
Not more than 1 distribution per calendar year may be treated as an emergency personal expense distribution by any individual.
Dollar limitation
Emergency personal expense distribution
For purposes of this subparagraph, the term “emergency personal expense distribution” means any distribution from an applicable eligible retirement plan (as defined in subparagraph (H)(vi)(I)) to an individual for purposes of meeting unforeseeable or immediate financial needs relating to necessary personal or family emergency expenses. The administrator of an applicable eligible retirement plan may rely on an employee’s written certification that the employee satisfies the conditions of the preceding sentence in determining whether any distribution is an emergency personal expense distribution. The Secretary may provide by regulations for exceptions to the rule of the preceding sentence in cases where the plan administrator has actual knowledge to the contrary of the employee’s certification, and for procedures for addressing cases of employee misrepresentation.
Treatment of plan distributions
If a distribution to an individual would (without regard to clause (ii) or (iii)) be an emergency personal expense distribution, a plan shall not be treated as failing to meet any requirement of this title merely because the plan treats the distribution as an emergency personal expense distribution, unless the number or the aggregate amount of such distributions from all plans maintained by the employer (and any member of any controlled group which includes the employer, determined as provided in subparagraph (H)(iv)(II)) to such individual exceeds the limitation determined under clause (ii) or (iii).
Amount distributed may be repaid
Rules similar to the rules of subparagraph (H)(v) shall apply with respect to an individual who receives a distribution to which clause (i) applies.
Limitation on subsequent distributions
Special rules
Rules similar to the rules of subclauses (II) and (IV) of subparagraph (H)(vi) shall apply to any emergency personal expense distribution.
Distributions from pension-linked emergency savings account
Distributions from a pension-linked emergency savings account pursuant to section 402A(e).
Distribution from retirement plan in case of domestic abuse
In general
Any eligible distribution to a domestic abuse victim.
Limitation
Eligible distribution to a domestic abuse victim
In general
A distribution shall be treated as an eligible distribution to a domestic abuse victim if such distribution is from an applicable eligible retirement plan and is made to an individual during the 1-year period beginning on any date on which the individual is a victim of domestic abuse by a spouse or domestic partner.
Domestic abuse
The term “domestic abuse” means physical, psychological, sexual, emotional, or economic abuse, including efforts to control, isolate, humiliate, or intimidate the victim, or to undermine the victim’s ability to reason independently, including by means of abuse of the victim’s child or another family member living in the household.
Treatment of plan distributions
If a distribution to an individual would (without regard to clause (ii)) be an eligible distribution to a domestic abuse victim, a plan shall not be treated as failing to meet any requirement of this title merely because the plan treats the distribution as an eligible distribution to a domestic abuse victim, unless the aggregate amount of such distributions from all plans maintained by the employer (and any member of any controlled group which includes the employer, determined as provided in subparagraph (H)(iv)(II)) to such individual exceeds the limitation under clause (ii).
Amount distributed may be repaid
Rules similar to the rules of subparagraph (H)(v) shall apply with respect to an individual who receives a distribution to which clause (i) applies.
Definition and special rules
Applicable eligible retirement plan
The term “applicable eligible retirement plan” means an eligible retirement plan (as defined in section 402(c)(8)(B)) other than a defined benefit plan or a plan to which sections 401(a)(11) and 417 apply.
Exemption of distributions from trustee to trustee transfer and withholding rules
For purposes of sections 401(a)(31), 402(f), and 3405, an eligible distribution to a domestic abuse victim shall not be treated as an eligible rollover distribution.
Distributions treated as meeting plan distribution requirements; self-certification
Any distribution which the employee or participant certifies as being an eligible distribution to a domestic abuse victim shall be treated as meeting the requirements of sections 401(k)(2)(B)(i), 403(b)(7)(A)(i), 403(b)(11), and 457(d)(1)(A).
Inflation adjustment
Terminal illness
In general
Distributions which are made to the employee who is a terminally ill individual on or after the date on which such employee has been certified by a physician as having a terminal illness.
Definition
For purposes of this subparagraph, the term “terminally ill individual” has the same meaning given such term under section 101(g)(4)(A), except that “84 months” shall be substituted for “24 months”.
Documentation
For purposes of this subparagraph, an employee shall not be considered to be a terminally ill individual unless such employee furnishes sufficient evidence to the plan administrator in such form and manner as the Secretary may require.
Amount distributed may be repaid
Rules similar to the rules of subparagraph (H)(v) shall apply with respect to an individual who receives a distribution to which clause (i) applies.
Distributions from retirement plans in connection with federally declared disasters
Any qualified disaster recovery distribution.
Qualified long-term care distributions
In general
Any qualified long-term care distribution to which section 401(a)(39) applies.
Exception
If, with respect to the plan, the individual covered by the long-term care coverage to which such distribution relates is the spouse of the employee, clause (i) shall apply only if the employee and the employee’s spouse file a joint return.
Exemption of distributions from trustee to trustee transfer and withholding rules
For purposes of sections 401(a)(31), 402(f), and 3405, any qualified long-term care distribution described in clause (i) shall not be treated as an eligible rollover distribution.
Limitations
Certain exceptions not to apply to individual retirement plans
Subparagraphs (A)(v) and (C) of paragraph (2) shall not apply to distributions from an individual retirement plan.
Periodic payments under qualified plans must begin after separation
Paragraph (2)(A)(iv) shall not apply to any amount paid from a trust described in section 401(a) which is exempt from tax under section 501(a) or from a contract described in section 72(e)(5)(D)(ii) unless the series of payments begins after the employee separates from service.
Change in substantially equal payments
In general
Deferral period
For purposes of this paragraph, the term “deferral period” means the period beginning with the taxable year in which (without regard to paragraph (2)(A)(iv)) the distribution would have been includible in gross income and ending with the taxable year in which the modification described in subparagraph (A) occurs.
Rollovers to subsequent plan
Employee
For purposes of this subsection, the term “employee” includes any participant, and in the case of an individual retirement plan, the individual for whose benefit such plan was established.
Special rules for simple retirement accounts
In general
Waiver in case of plan conversion to 401(k) or 403(b)
In the case of an employee of an employer which terminates the qualified salary reduction arrangement of the employer under section 408(p) and establishes a qualified cash or deferred arrangement described in section 401(k) or purchases annuity contracts described in section 403(b), subparagraph (A) shall not apply to any amount which is paid in a rollover contribution described in section 408(d)(3) into a qualified trust under section 401(k) (but only if such contribution is subsequently subject to the rules of section 401(k)(2)(B)) or an annuity contract described in section 403(b) (but only if such contribution is subsequently subject to the rules of section 403(b)(12)) for the benefit of the employee.
Qualified higher education expenses
In general
Coordination with other benefits
The amount of qualified higher education expenses for any taxable year shall be reduced as provided in section 25A(g)(2).
Qualified first-time homebuyer distributions
In general
The term “qualified first-time homebuyer distribution” means any payment or distribution received by an individual to the extent such payment or distribution is used by the individual before the close of the 120th day after the day on which such payment or distribution is received to pay qualified acquisition costs with respect to a principal residence of a first-time homebuyer who is such individual, the spouse of such individual, or any child, grandchild, or ancestor of such individual or the individual’s spouse.
Lifetime dollar limitation
Qualified acquisition costs
For purposes of this paragraph, the term “qualified acquisition costs” means the costs of acquiring, constructing, or reconstructing a residence. Such term includes any usual or reasonable settlement, financing, or other closing costs.
First-time homebuyer; other definitions
First-time homebuyer
Principal residence
The term “principal residence” has the same meaning as when used in section 121.
Date of acquisition
Special rule where delay in acquisition
Recontributions
General rule
In general
Any individual who received a qualified distribution may, during the applicable period, make one or more contributions in an aggregate amount not to exceed the amount of such qualified distribution to an eligible retirement plan (as defined in section 402(c)(8)(B)) of which such individual is a beneficiary and to which a rollover contribution of such distribution could be made under section 402(c), 403(a)(4), 403(b)(8), or 408(d)(3), as the case may be.
Treatment of repayments
Rules similar to the rules of clauses (ii) and (iii) of paragraph (11)(C) shall apply for purposes of this subsection.
Qualified distribution
Applicable period
For purposes of this subparagraph, the term “applicable period” means, in the case of a principal residence in a qualified disaster area with respect to any qualified disaster, the period beginning on the first day of the incident period of such qualified disaster and ending on the date which is 180 days after the applicable date with respect to such disaster.
Special rule for rollovers to section 457 plans
For purposes of this subsection, a distribution from an eligible deferred compensation plan (as defined in section 457(b)) of an eligible employer described in section 457(e)(1)(A) shall be treated as a distribution from a qualified retirement plan described in 4974(c)(1) to the extent that such distribution is attributable to an amount transferred to an eligible deferred compensation plan from a qualified retirement plan (as defined in section 4974(c)).
Distributions to qualified public safety employees and private sector firefighters
In general
In the case of a distribution to a qualified public safety employee from a governmental plan (within the meaning of section 414(d)) or a distribution from a plan described in clause (iii), (iv), or (vi) of section 402(c)(8)(B) to an employee who provides firefighting services, paragraph (2)(A)(v) shall be applied by substituting “age 50 or 25 years of service under the plan, whichever is earlier” for “age 55”.
Qualified public safety employee
Qualified disaster recovery distribution
In general
Aggregate dollar limitation
In general
For purposes of this subsection, the aggregate amount of distributions received by an individual which may be treated as qualified disaster recovery distributions with respect to any qualified disaster in all taxable years shall not exceed $22,000.
Treatment of plan distributions
If a distribution to an individual would (without regard to clause (i)) be a qualified disaster recovery distribution, a plan shall not be treated as violating any requirement of this title merely because the plan treats such distribution as a qualified disaster recovery distribution, unless the aggregate amount of such distributions from all plans maintained by the employer (and any member of any controlled group which includes the employer) to such individual exceeds $22,000 with respect to the same qualified disaster.
Controlled group
oFor purposes of clause (ii), the term “controlled group” means any group treated as a single employer under subsection (b), (c), (m), or () of section 414.
Amount distributed may be repaid
In general
Any individual who receives a qualified disaster recovery distribution may, at any time during the 3-year period beginning on the day after the date on which such distribution was received, make one or more contributions in an aggregate amount not to exceed the amount of such distribution to an eligible retirement plan of which such individual is a beneficiary and to which a rollover contribution of such distribution could be made under section 402(c), 403(a)(4), 403(b)(8), 408(d)(3), or 457(e)(16), as the case may be.
Treatment of repayments of distributions from eligible retirement plans other than IRAs
For purposes of this title, if a contribution is made pursuant to clause (i) with respect to a qualified disaster recovery distribution from a plan other than an individual retirement plan, then the taxpayer shall, to the extent of the amount of the contribution, be treated as having received the qualified disaster recovery distribution in an eligible rollover distribution (as defined in section 402(c)(4)) and as having transferred the amount to the eligible retirement plan in a direct trustee to trustee transfer within 60 days of the distribution.
Treatment of repayments for distributions from IRAs
For purposes of this title, if a contribution is made pursuant to clause (i) with respect to a qualified disaster recovery distribution from an individual retirement plan, then, to the extent of the amount of the contribution, the qualified disaster recovery distribution shall be treated as a distribution described in section 408(d)(3) and as having been transferred to the eligible retirement plan in a direct trustee to trustee transfer within 60 days of the distribution.
Income inclusion spread over 3-year period
In general
In the case of any qualified disaster recovery distribution, unless the taxpayer elects not to have this subparagraph apply for any taxable year, any amount required to be included in gross income for such taxable year shall be so included ratably over the 3-taxable year period beginning with such taxable year.
Special rule
For purposes of clause (i), rules similar to the rules of subparagraph (E) of section 408A(d)(3) shall apply.
Qualified disaster
For purposes of this paragraph and paragraph (8), the term “qualified disaster” means any disaster with respect to which a major disaster has been declared by the President under section 401 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act after .
Other definitions
Qualified disaster area
In general
The term “qualified disaster area” means, with respect to any qualified disaster, the area with respect to which the major disaster was declared under the Robert T. Stafford Disaster Relief and Emergency Assistance Act.
Exceptions
Such term shall not include any area which is a qualified disaster area solely by reason of section 301 of the Taxpayer Certainty and Disaster Tax Relief Act of 2020.
Incident period
The term “incident period” means, with respect to any qualified disaster, the period specified by the Federal Emergency Management Agency as the period during which such disaster occurred.
Applicable date
Eligible retirement plan
The term “eligible retirement plan” shall have the meaning given such term by section 402(c)(8)(B).
Special rules
Exemption of distributions from trustee to trustee transfer and withholding rules
For purposes of sections 401(a)(31), 402(f), and 3405, qualified disaster recovery distributions shall not be treated as eligible rollover distributions.
Qualified disaster recovery distributions treated as meeting plan distribution requirements
Treatment of annuity contracts not held by natural persons
In general
Income on the contract
In general
Net premiums
For purposes of this paragraph, the term “net premiums” means the amount of premiums paid under the contract reduced by any policyholder dividends.
Exceptions
Immediate annuity
10-percent additional tax for taxable distributions from modified endowment contracts
Imposition of additional tax
If any taxpayer receives any amount under a modified endowment contract (as defined in section 7702A), the taxpayer’s tax under this chapter for the taxable year in which such amount is received shall be increased by an amount equal to 10 percent of the portion of such amount which is includible in gross income.
Subsection not to apply to certain distributions
Application of basis rules to nonresident aliens
In general
Notwithstanding any other provision of this section, for purposes of determining the portion of any distribution which is includible in gross income of a distributee who is a citizen or resident of the United States, the investment in the contract shall not include any applicable nontaxable contributions or applicable nontaxable earnings.
Applicable nontaxable contribution
Applicable nontaxable earnings
Regulations
The Secretary shall prescribe such regulations as may be necessary to carry out the provisions of this subsection, including regulations treating contributions and earnings as not subject to tax under the laws of any foreign country where appropriate to carry out the purposes of this subsection.
Cross reference
For limitation on adjustments to basis of annuity contracts sold, see section 1021.
Aug. 16, 1954, ch. 73668A Stat. 20Pub. L. 87–792, § 4(a)76 Stat. 821Pub. L. 87–834, § 11(b)76 Stat. 1005Pub. L. 88–272, title II, § 232(b)78 Stat. 110Pub. L. 89–44, title VIII, § 809(d)(2)79 Stat. 167Pub. L. 89–97, title I, § 106(d)(2)79 Stat. 337Pub. L. 89–365, § 1(b)80 Stat. 32Pub. L. 91–172, title V, § 515(b)83 Stat. 644Pub. L. 93–406, title II88 Stat. 955Pub. L. 94–455, title XIX90 Stat. 1765Pub. L. 97–34, title III95 Stat. 278Pub. L. 97–248, title II96 Stat. 509–511Pub. L. 97–448, title I, § 103(c)(3)(B)(i)96 Stat. 2376Pub. L. 98–76, title II, § 224(a)97 Stat. 421Pub. L. 98–369, div. A, title II98 Stat. 754Pub. L. 98–397, title II, § 204(c)(2)98 Stat. 1448Pub. L. 99–514, title XI100 Stat. 2413Pub. L. 100–647, title I102 Stat. 3472Pub. L. 101–239, title VII103 Stat. 2412Pub. L. 101–508, title XI, § 11802(a)104 Stat. 1388–529Pub. L. 102–318, title V, § 521(b)(3)106 Stat. 310Pub. L. 104–188, title Il110 Stat. 1790Pub. L. 104–191, title III, § 361(a)110 Stat. 2071Pub. L. 105–34, title II, § 203(a)111 Stat. 809Pub. L. 105–206, title III, § 3436(a)112 Stat. 761Pub. L. 107–16, title IV, § 402(a)(4)(A)115 Stat. 60Pub. L. 107–22, § 1(b)(1)(A)115 Stat. 196Pub. L. 107–90, title II, § 204(e)(2)115 Stat. 893Pub. L. 108–311, title II, § 207(6)118 Stat. 1177Pub. L. 108–357, title VIII, § 906(a)118 Stat. 1653Pub. L. 109–280, title VIII120 Stat. 999Pub. L. 110–245, title I, § 107(a)122 Stat. 1631Pub. L. 110–458, title I, § 108(e)122 Stat. 5109Pub. L. 111–240, title II, § 2113(a)124 Stat. 2566Pub. L. 112–141, div. F, title I, § 100121(c)126 Stat. 914Pub. L. 113–295, div. A, title II, § 221(a)(14)128 Stat. 4039Pub. L. 114–26, § 2(a)129 Stat. 319Pub. L. 114–113, div. Q, title III, § 308(a)129 Stat. 3089Pub. L. 116–94, div. O, title I133 Stat. 3149Pub. L. 117–328, div. T, title I136 Stat. 5296(, ; , (b), , ; , , ; , , ; , , ; , , ; , , ; , , ; , §§ 2001(e)(5), (g)(1), (2)(A), (h)(2), (3), 2002(g)(10), 2005(c)(3), 2007(b)(2), , , 957, 970, 991, 994; , §§ 1901(a)(12), (13), 1906(b)(13)(A), 1951(b)(1)(A), , , 1834, 1836; , §§ 311(b)(1), 312(d), (e)(1), , , 284; , §§ 236(a), (b), 237(d), 265(a), (b)(1), , , 544–546; , (6), , ; , , ; , §§ 211(b)(1), 222(a), (b), title IV, §§ 421(b)(1), 491(d)(3), (4), title V, §§ 521(d), 523(a), (b), title VII, § 713(b)(1)–(c)(1)(B), (d)(1), , , 774, 794, 849, 868, 871, 872, 956, 957; , , ; , §§ 1101(b)(2)(B), (C), 1122(c), 1123(a), (b), (d)(1), 1134(a)–(d), 1135(a), title XVIII, §§ 1826(a), (b)(1)–(3), (c), (d), 1852(a)(2), (c)(1)–(4), 1854(b)(1), 1898(c)(1)(B), , , 2414, 2467, 2472, 2474, 2475, 2483, 2484, 2848–2850, 2864, 2867, 2878, 2951; , §§ 1011A(b)(1)(A), (B), (2), (9), (c)(1)–(8), (h), (i), 1018(k), (t)(1)(A), (B), (u)(8), title V, § 5012(a), (b)(1), (d), , , 3474–3476, 3482, 3583, 3587, 3590, 3661, 3662, 3664; , §§ 7811(m)(4), 7815(a)(3), (5), , , 2414; , , ; , , ; , §§ 1403(a), 1421(b)(4)(A), 1463(a), 1704()(1), (t)(2), (77), , , 1796, 1824, 1882, 1887, 1891; –(c), , , 2072; , (b), title III, § 303(a), (b), title X, § 1075(a), (b), , , 829, 949; , title VI, §§ 6004(d)(3)(B), 6005(c)(1), 6023(3), (4), , , 794, 800, 824; , (B), title VI, §§ 632(a)(3)(A), 641(a)(2)(C), (e)(1), , , 61, 113, 120; , (3)(A), , , 197; , , ; , (7), title IV, § 408(a)(4), (b)(3), , , 1191, 1192; , , ; , §§ 827(a), 828(a), 844(a), , , 1001, 1010; , , ; , , ; , , ; , , ; , , ; –(c), , ; , , ; , §§ 108(a), 113(a), , , 3154; , §§ 115(a), 127(e)(2), (3), title III, §§ 308(a), (b), 311(a), 314(a), 323(a), (b), (d), 326(a), 329(a), 330(a), 331(a)(1), (2), (b)(1), (c)(1), 332(b)(1), 333(a), 334(c), title IV, § 401(b)(1), , , 5329, 5345, 5347, 5349, 5356, 5357, 5359–5361, 5364, 5365, 5367, 5368, 5370, 5388.)
Inflation Adjusted Items for Certain Years
section 401 of this titleFor inflation adjustment of certain items in this section, see Internal Revenue Notices listed in a table under .
Editorial Notes
References in Text
Pub. L. 107–16The enactment of the Economic Growth and Tax Relief Reconciliation Act of 2001, referred to in subsec. (f), means the enactment of , which was approved .
Pub. L. 104–188The date of the enactment of the Small Business Job Protection Act of 1996, referred to in subsec. (n), is the date of enactment of , which was approved .
act Aug. 29, 1935, ch. 812Pub. L. 93–445, title I, § 10188 Stat. 1305section 231 of Title 45section 231t of Title 45The Railroad Retirement Act of 1974, referred to in subsec. (r)(1), (2)(C)(i), (ii), is , as amended generally by , , , which is classified generally to subchapter IV (§ 231 et seq.) of chapter 9 of Title 45, Railroads. Sections 2(b), 3(h), and 4(e) and (h) of the Act are classified to sections 231a(b), 231b(h), and 231c(e) and (h), respectively, of Title 45. For further details and complete classification of this Act to the Code, see Codification note set out preceding , , and Tables.
Pub. L. 109–280The date of the enactment of this subparagraph, referred to in subsec. (t)(2)(G)(iv), is the date of enactment of , which was approved .
section 1034 of this titlePub. L. 105–34, title III, § 312(b)111 Stat. 839Section 1034 (as in effect on the day before the date of the enactment of this paragraph), referred to in subsec. (t)(8)(D)(i)(II), means as in effect on the day before . Section 1034 was repealed by , , .
Pub. L. 93–28888 Stat. 143section 5170 of Title 42section 5121 of Title 42The Robert T. Stafford Disaster Relief and Emergency Assistance Act, referred to in subsec. (t)(11)(E), (F)(i)(I), is , , , which is classified principally to chapter 68 (§ 5121 et seq.) of Title 42, The Public Health and Welfare. Section 401 of the Act is classified to . For complete classification of this Act to the Code, see Short Title note set out under and Tables.
section 301 of Pub. L. 116–260134 Stat. 3070Section 301 of the Taxpayer Certainty and Disaster Tax Relief Act of 2020, referred to in subsec. (t)(11)(F)(i)(II), is , div. EE, title III, , , which is not classified to the Code.
Pub. L. 117–328The date of the enactment of this paragraph, referred to in subsec. (t)(11)(F)(iii)(I), is the date of enactment of , which was approved .
Amendments
Pub. L. 117–328, § 127(e)(3)2022—Subsec. (d)(3). , added par. (3).
Pub. L. 117–328, § 331(c)(1)Subsec. (p)(6). , added par. (6).
Pub. L. 117–328, § 323(d)(2)Subsec. (q)(2). , added concluding provisions.
Pub. L. 117–328, § 323(b)Subsec. (q)(3). , designated existing provisions as subpar. (A) and inserted heading, redesignated former subpars. (A) and (B) as cls. (i) and (ii), respectively, of subpar. (A), and cls. (i) and (ii) of former subpar. (B) as subcls. (I) and (II), respectively, of cl. (ii), and added subpar. (B).
Pub. L. 117–328, § 323(d)(1)Subsec. (t)(2)(A). , added concluding provisions.
Pub. L. 117–328, § 333(a)Subsec. (t)(2)(A)(ix). , added cl. (ix).
Pub. L. 117–328, § 311(a)Subsec. (t)(2)(H)(v)(I). , substituted “may, at any time during the 3-year period beginning on the day after the date on which such distribution was received, make” for “may make”.
Pub. L. 117–328, § 401(b)(1)Subsec. (t)(2)(H)(vi)(IV). , substituted “403(b)(7)(A)(i)” for “403(b)(7)(A)(ii)”.
Pub. L. 117–328, § 115(a)Subsec. (t)(2)(I). , added subpar. (I).
Pub. L. 117–328, § 127(e)(2)Subsec. (t)(2)(J). , added subpar. (J).
Pub. L. 117–328, § 314(a)Subsec. (t)(2)(K). , added subpar. (K).
Pub. L. 117–328, § 326(a)Subsec. (t)(2)(L). , added subpar. (L).
Pub. L. 117–328, § 331(a)(1)Subsec. (t)(2)(M). , added subpar. (M).
Pub. L. 117–328, § 334(c)Subsec. (t)(2)(N). , added subpar. (N).
Pub. L. 117–328, § 323(a)Subsec. (t)(4)(C). , added subpar. (C).
Pub. L. 117–328, § 332(b)(1)Subsec. (t)(6). , designated existing provisions as subpar. (A), inserted heading, and added subpar. (B).
Pub. L. 117–328, § 331(b)(1)Subsec. (t)(8)(F). , added subpar. (F).
Pub. L. 117–328, § 308(b)Subsec. (t)(10). , substituted “and private sector firefighters” for “in governmental plans” in heading.
Pub. L. 117–328, § 329(a)Subsec. (t)(10)(A). , substituted “age 50 or 25 years of service under the plan, whichever is earlier” for “age 50”.
Pub. L. 117–328, § 308(a), substituted “414(d)) or a distribution from a plan described in clause (iii), (iv), or (vi) of section 402(c)(8)(B) to an employee who provides firefighting services” for “414(d))”.
Pub. L. 117–328, § 330(a)Subsec. (t)(10)(B)(i). , substituted “emergency medical services, or services as a corrections officer or as a forensic security employee providing for the care, custody, and control of forensic patients” for “or emergency medical services”.
Pub. L. 117–328, § 331(a)(2)Subsec. (t)(11). , added par. (11).
Pub. L. 116–94, § 108(a)2019—Subsec. (p)(2)(D), (E). , added subpar. (D) and redesignated former subpar. (D) as (E).
Pub. L. 116–94, § 113(a)Subsec. (t)(2)(H). , added subpar. (H).
Pub. L. 114–26, § 2(c)2015—Subsec. (t)(4)(A)(ii). , inserted “or a distribution to which paragraph (10) applies” after “other than by reason of death or disability” in introductory provisions.
Pub. L. 114–26, § 2(b)Subsec. (t)(10)(A). , struck out “which is a defined benefit plan” after “section 414(d))”.
Pub. L. 114–26, § 2(a)Subsec. (t)(10)(B). , substituted “means—” for “means”, designated remainder of existing provisions as cl. (i), and added cl. (ii).
Pub. L. 114–113Subsec. (t)(10)(B)(ii). substituted “any air traffic controller” for “or any air traffic controller” and inserted before period at end “, any nuclear materials courier described in section 8331(27) or 8401(33) of such title, any member of the United States Capitol Police, any member of the Supreme Court Police, or any diplomatic security special agent of the Department of State”.
Pub. L. 113–295, § 221(a)(14)(A)2014—Subsec. (c)(4). , struck out “; except that if such date was before , then the annuity starting date is ” before period at end.
Pub. L. 113–295, § 221(a)(14)(B)Subsec. (g)(3). , struck out “, or” before “the first day”.
Pub. L. 113–295, § 221(a)(14)(B), which directed striking out “, whichever is later”, was executed by striking out “, whichever is the later” after “as an annuity” to reflect the probable intent of Congress.
Pub. L. 112–1412012—Subsec. (t)(2)(A)(viii). added cl. (viii).
Pub. L. 111–2402010—Subsec. (a). amended subsec. (a) generally. Prior to amendment, text read as follows: “Except as otherwise provided in this chapter, gross income includes any amount received as an annuity (whether for a period certain or during one or more lives) under an annuity, endowment, or life insurance contract.”
Pub. L. 110–245Pub. L. 110–4582008—Subsec. (t)(2)(G)(iv). , which directed amendment by striking out “, and before ” after “”, was executed by striking out “, and on or before ” after “”, to reflect the probable intent of Congress and the intervening amendment by . See Amendment note and Effective Date of 2008 Amendment note below.
Pub. L. 110–458 inserted “on or” before “before” in first sentence.
Pub. L. 109–280, § 844(a)2006—Subsec. (e)(11), (12). , added par. (11) and redesignated former par. (11) as (12).
Pub. L. 109–280, § 827(a)Subsec. (t)(2)(G). , added subpar. (G).
Pub. L. 109–280, § 828(a)Subsec. (t)(10). , added par. (10).
Pub. L. 108–311, § 408(b)(3)Pub. L. 107–22, § 1(b)(3)(A)2004—Subsec. (e)(9). , amended . See 2001 Amendment note below.
Pub. L. 108–311, § 408(a)(4)Subsec. (f). , substituted “Economic Growth and Tax Relief Reconciliation Act of 2001)” for “Economic Growth and Tax Relief Reconciliation Act of 2001” in concluding provisions.
Pub. L. 108–311, § 207(6)Subsec. (t)(2)(D)(i)(III). , inserted “, determined without regard to subsections (b)(1), (b)(2), and (d)(1)(B) thereof” after “section 152”.
Pub. L. 108–311, § 207(7)Subsec. (t)(7)(A)(iii). , substituted “152(f)(1)” for “151(c)(3)”.
Pub. L. 108–357Subsecs. (w), (x). added subsec. (w) and redesignated former subsec. (w) as (x).
Pub. L. 107–22, § 1(b)(3)(A)Pub. L. 108–311, § 408(b)(3)2001—Subsec. (e)(9). , as amended by , substituted “Coverdell education savings” for “educational individual retirement” in heading.
Pub. L. 107–22, § 1(b)(1)(A), substituted “a Coverdell education savings” for “an education individual retirement”.
Pub. L. 107–16, § 402(a)(4)(A), (B), substituted “qualified tuition” for “qualified State tuition” in heading and text.
Pub. L. 107–16, § 632(a)(3)(A)Subsec. (f). , substituted “section 403(b)(2)(D)(iii), as in effect before the enactment of the Economic Growth and Tax Relief Reconciliation Act of 2001” for “section 403(b)(2)(D)(iii))” in concluding provisions.
oPub. L. 107–16, § 641(e)(1)Subsec. ()(4). , substituted “403(b)(8), 408(d)(3), and 457(e)(16)” for “and 408(d)(3)”.
Pub. L. 107–90Subsec. (r)(2)(B)(i). substituted “3211(b)” for “3211(a)(2)”.
Pub. L. 107–16, § 641(a)(2)(C)Subsec. (t)(9). , added par. (9).
Pub. L. 105–206, § 6004(d)(3)(B)1998—Subsec. (e)(9). , added par. (9).
Pub. L. 105–206, § 6023(3)Subsec. (n). , inserted “(as in effect on the day before the date of the enactment of the Small Business Job Protection Act of 1996)” after “section 101(b)(2)(D)”.
Pub. L. 105–206, § 3436(a)Subsec. (t)(2)(A)(iv). , which directed amendment of cl. (iv) by striking out “or” at end, could not be executed because the word “or” did not appear at end.
Pub. L. 105–206, § 3436(a)Subsec. (t)(2)(A)(vii). , added cl. (vii).
Pub. L. 105–206, § 6023(4)Subsec. (t)(3)(A). , substituted “(A)(v)” for “(A)(v),”.
Pub. L. 105–206, § 6005(c)(1)Subsec. (t)(8)(E). , in introductory provisions, substituted “120th day” for “120 days” and “60th day” for “60 days”.
Pub. L. 105–34, § 1075(b)1997—Subsec. (d)(1)(B)(iii). , inserted “If the annuity is payable over the life of a single individual, the number of anticipated payments shall be determined as follows:” before table and struck out “primary” after “If the age of the” in table.
Pub. L. 105–34, § 1075(a)Subsec. (d)(1)(B)(iv). , added cl. (iv).
Pub. L. 105–34, § 203(a)Subsec. (t)(2)(E). , added subpar. (E).
Pub. L. 105–34, § 303(a)Subsec. (t)(2)(F). , added subpar. (F).
Pub. L. 105–34, § 203(b)Subsec. (t)(7). , added par. (7).
Pub. L. 105–34, § 303(b)Subsec. (t)(8). , added par. (8).
Pub. L. 104–188, § 1704l1996—Subsec. (b)(4)(A). ()(1), inserted “(determined without regard to subsection (c)(2))” after “contract”.
Pub. L. 104–188, § 1403(a)Treatment of Employee Contributions Under Defined Contribution Plans as Separate ContractsSubsec. (d). , amended subsec. (d) generally. Prior to amendment, subsec. (d) read as follows: “.—For purposes of this section, employee contributions (and any income allocable thereto) under a defined contribution plan may be treated as a separate contract.”
Pub. L. 104–188, § 1463(a)Subsec. (f). , in closing provisions, inserted before period at end “, or to the extent such credits are attributable to services performed as a foreign missionary (within the meaning of section 403(b)(2)(D)(iii))”.
Pub. L. 104–188, § 1704(t)(2)Subsec. (m)(2)(A) to (C). , inserted “and” at end of subpar. (A), redesignated subpar. (C) as (B), and struck out former subpar. (B) which read as follows: “the consideration for the contract contributed by the employee for purposes of subsection (d)(1) (relating to employee’s contributions recoverable in 3 years) and subsection (e)(7) (relating to plans where substantially all contributions are employee contributions), and”.
Pub. L. 104–188, § 1704(t)(77)Special rulesSubsec. (p)(4)(A)(ii). , amended cl. (ii) generally. Prior to amendment, cl. (ii) read as follows: “.—The term ‘qualified employer plan’—
“(I) shall include any plan which was (or was determined to be) a qualified employer plan or a government plan, but
“(II) shall not include a plan described in subsection (e)(7).”
Pub. L. 104–191, § 361(c)Subsec. (t)(2)(B). , substituted “, (C), or (D)” for “or (C)”.
Pub. L. 104–191, § 361(b)Subsec. (t)(2)(D). , added subpar. (D).
Pub. L. 104–191, § 361(a)Subsec. (t)(3)(A). , struck out “(B),” after “Subparagraphs (A)(v),”.
Pub. L. 104–188, § 1421(b)(4)(A)Subsec. (t)(6). , added par. (6).
oPub. L. 102–3181992—Subsec. ()(4). substituted “402(c)” for “402(a)(5), 402(a)(7)”.
Pub. L. 101–508, § 11802(a)(1)1990—Subsec. (t)(2)(C), (D). , (2), redesignated subpar. (D) as (C) and struck out former subpar. (C) “Exceptions for distributions from employee stock ownership plans” which read as follows: “Any distribution made before , to an employee from an employee stock ownership plan (as defined in section 4975(e)(7)) or a tax credit employee stock ownership plan (as defined in section 409) if—
l“(i) such distribution is attributable to assets which have been invested in employer securities (within the meaning of section 409()) at all times during the 5-plan-year period preceding the plan year in which the distribution is made, and
“(ii) at all times during such period the requirements of sections 401(a)(28) and 409 (as in effect at such times) are met with respect to such employer securities.”
Pub. L. 101–508, § 11802(a)(3)Subsec. (t)(3)(A). , substituted “and (C)” for “(C), and (D)”.
Pub. L. 101–239, § 7815(a)(3)1989—Subsec. (e)(11)(A). , (5), substituted “calendar year” for “12-month period” in cls. (i) and (ii), and inserted at end “The preceding sentence shall not apply to any contract described in paragraph (5)(D).”
Pub. L. 101–239, § 7811(m)(4)Subsec. (q)(2)(B). , inserted an additional closing parenthesis after “subsection (s)(6)(B))”.
Pub. L. 100–647, § 1011A(b)(2)(A)1988—Subsec. (d). , added subsec. (d).
Pub. L. 100–647, § 5012(d)(1)Subsec. (e)(4)(A). , inserted at end “The preceding sentence shall not apply for purposes of determining investment in the contract, except that the investment in the contract shall be increased by any amount included in gross income by reason of the amount treated as received under the preceding sentence.”
Pub. L. 100–647, § 5012(a)(2)Subsec. (e)(5)(C). , substituted “Except as provided in paragraph (10) and except to the extent” for “Except to the extent”.
Pub. L. 100–647, § 1011A(b)(9)(B)Subsec. (e)(5)(D). , substituted “paragraph (8)” for “paragraphs (7) and (8)”.
Pub. L. 100–647, § 1011A(b)(9)(A)Subsec. (e)(7). , struck out par. (7) which related to special rules for plans where substantially all contributions are employee contributions.
Pub. L. 100–647, § 1011A(b)(9)(C)Subsec. (e)(8)(A). , struck out “(other than paragraph (7))” after “this subsection”.
Pub. L. 100–647, § 1011A(b)(2)(B)Subsec. (e)(9). , struck out par. (9) which related to treatment of employee contributions as separate contract.
Pub. L. 100–647, § 5012(a)(1)Subsec. (e)(10). , added par. (10).
Pub. L. 100–647, § 5012(d)(2)Subsec. (e)(11). , added par. (11).
Pub. L. 100–647, § 1011A(b)(1)(A)Subsec. (f). , struck out “for purposes of subsections (d)(1) and (e)(7), the consideration for the contract contributed by the employee,” after “contract,” in introductory provisions.
Pub. L. 100–647, § 1011A(b)(1)(B)Subsec. (n). , substituted “Subsection (b)” for “Subsections (b) and (d)”.
oPub. L. 100–647, § 1011A(c)(8)Subsec. ()(2). , struck out par. (2) which related to additional tax if amount received before age 59½.
Pub. L. 100–647, § 1011A(h)(1)Subsec. (p)(3)(A). , inserted “to which paragraph (1) does not apply by reason of paragraph (2) during the period” after “loan”.
Pub. L. 100–647, § 1011A(h)(2)Subsec. (p)(3)(B). , substituted “Period” for “Loans” in heading and amended text generally. Prior to amendment, text read as follows: “For purposes of subparagraph (A), a loan is described in this subparagraph—
“(i) if paragraph (1) does not apply to such loan by reason of paragraph (2), and
“(ii) if—
“(I) such loan is made to a key employee (as defined in section 416(i)), or
“(II) such loan is secured by amounts attributable to elective 401(k) or 403(b) deferrals (as defined in section 402(g)(3)).”
Pub. L. 100–647, § 1018(t)(1)(B)Subsec. (q)(2)(B). , substituted “subsection (s)(6)(B))” for “subsection (s)(6)(B)))”.
Pub. L. 100–647, § 1011A(c)(7)Subsec. (q)(2)(D). , inserted “designated” before “beneficiary”.
Pub. L. 100–647, §§ 1011A(c)(4), 1018(u)(8), amended subpar. (D) identically, substituting a comma for period at end.
Pub. L. 100–647, § 1011A(b)(9)(D)Subsec. (q)(2)(E). , struck out “(determined without regard to subsection (e)(7))” after “subsection (e)(5)(D)”.
Pub. L. 100–647, § 1011A(c)(4)Subsec. (q)(2)(G). , substituted a comma for period at end.
Pub. L. 100–647, § 1011A(c)(6)Subsec. (q)(2)(H). , added subpar. (H).
Pub. L. 100–647, § 1011A(c)(5)Subsec. (q)(3)(B). , substituted “taxpayer” for “employee” in cls. (i) and (ii).
Pub. L. 100–647, § 1018(k)(2)Subsec. (s)(5). , substituted “certain annuity contracts” for “annuity contracts which are part of qualified plans” in heading.
Pub. L. 100–647, § 1018(k)(1)Subsec. (s)(5)(D). , added subpar. (D).
Pub. L. 100–647, § 1018(t)(1)(A)Subsec. (s)(7). , substituted “primary annuitant” for “primary annuity”.
Pub. L. 100–647, § 1011A(c)(7)Subsec. (t)(2)(A)(iv). , inserted “designated” before “beneficiary”.
Pub. L. 100–647, § 1011A(c)(1)Subsec. (t)(2)(A)(v). , struck out “on account of early retirement under the plan” after “separation from service”.
Pub. L. 100–647, § 1011A(c)(2)Subsec. (t)(2)(C). , substituted “Exceptions for distributions from employee stock ownership plans” for “Certain plans” in heading and amended text generally. Prior to amendment, text read as follows:
In generall“(i) .—Except as provided in clause (ii), any distribution made before , to an employee from an employee stock ownership plan defined in section 4975(e)(7) to the extent that, on average, a majority of assets in the plan have been invested in employer securities (as defined in section 409()) for the 5-plan-year period preceding the plan year in which the distribution is made.
Benefits distributed must be invested in employer securities for 5 years“(ii) .—Clause (i) shall not apply to any distribution which is attributable to assets which have not been invested in employer securities at all times during the period referred to in clause (i).”
Pub. L. 100–647, § 1011A(c)(3)Subsec. (t)(3)(A). , substituted “(C), and (D)” for “and (C)”.
Pub. L. 100–647, § 1011A(i)(1)Subsec. (u)(1)(A). , inserted “(other than subchapter L)” after “subtitle”.
Pub. L. 100–647, § 1011A(i)(3)Subsec. (u)(3)(D). , substituted “is purchased” for “which is purchased” and “is held” for “which is held”.
Pub. L. 100–647, § 1011A(i)(2), substituted “until all amounts under such contract are distributed to the employee for whom such contract was purchased or the employee’s beneficiary” for “until such time as the employee separates from service”.
Pub. L. 100–647, § 1011A(i)(3)Subsec. (u)(3)(E). , substituted “is” for “which is”.
Pub. L. 100–647, § 1011A(i)(4)Subsec. (u)(4)(C). , added subpar. (C).
Pub. L. 100–647, § 5012(b)(1)Subsecs. (v), (w). , added subsec. (v) and redesignated former subsec. (v) as (w).
Pub. L. 99–514, § 1122(c)(2)1986—Subsec. (b). , amended subsec. (b) generally. Prior to amendment, subsec. (b) read as follows: “Gross income does not include that part of any amount received as an annuity under an annuity, endowment, or life insurance contract which bears the same ratio to such amount as the investment in the contract (as of the annuity starting date) bears to the expected return under the contract (as of such date). This subsection shall not apply to any amount to which subsection (d)(1) (relating to certain employee annuities) applies.”
Pub. L. 99–514, § 1122(c)(1)Subsec. (d). , struck out subsec. (d) which related to employee’s annuities where the employee’s contributions were recoverable in 3 years.
Pub. L. 99–514, § 1826(b)(3)Subsec. (e)(4)(C). , added subpar. (C).
Pub. L. 99–514, § 1122(c)(3)(B)Subsec. (e)(5)(D). , substituted “paragraphs (7) and (8)” for “paragraph (7)” in introductory provisions.
Pub. L. 99–514, § 1854(b)(1), inserted closing provisions which read as follows: “Any dividend described in section 404(k) which is received by a participant or beneficiary shall, for purposes of this subparagraph, be treated as paid under a separate contract to which clause (ii)(I) applies.”
Pub. L. 99–514, § 1852(c)(1)oSubsec. (e)(7)(B). , in introductory provisions substituted “any plan or contract” for “any trust or contract”, in cl. (ii) substituted “85 percent or more of” for “85 percent of”, and inserted closing provision: “For purposes of clause (ii), deductible employee contributions (as defined in subsection ()(5)(A)) shall not be taken into account.”
Pub. L. 99–514, § 1122(c)(3)(A)Subsec. (e)(8), (9). , added pars. (8) and (9).
Pub. L. 99–514, § 1852(c)(3)Subsec. (f). , in introductory provisions, substituted “subsections (d)(1) and (e)(7)” for “subsection (d)(1)” and “subsection (e)(6)” for “subsection (e)(1)(B)”.
Pub. L. 99–514, § 1852(c)(4)(A)Subsec. (m)(2)(B). , inserted “and subsection (e)(7) (relating to plans where substantially all contributions are employee contributions)”.
Pub. L. 99–514, § 1852(c)(4)(B)Subsec. (m)(2)(C). , substituted “subsection (e)(6)” for “subsection (e)(1)(B)”.
Pub. L. 99–514, § 1852(a)(2)(C)section 713(c)(1)(B) of Pub. L. 98–369Subsec. (m)(5). , which directed that par. (5) be amended by substituting “5-percent owners” for “owner-employees” in heading, was executed by substituting “5-percent owners” for “key employees”, to reflect the probable intent of Congress and intervening amendment by .
Pub. L. 99–514, § 1123(d)(1)Subsec. (m)(5)(A). , amended subpar. (A) generally. Prior to amendment, subpar. (A) read as follows: “This subparagraph shall apply—
“(i) to amounts which—
“(I) are received from a qualified trust described in section 401(a) or under a plan described in section 403(a), and
“(II) are received by a 5-percent owner before such owner attains the age of 59½ years, for any reason other than such owner becoming disabled (within the meaning of paragraph (7) of this section), and
“(ii) to amounts which are received from a qualified trust described in section 401(a) or under a plan described in section 403(a) at any time by a 5-percent owner, or by the successor of such owner, but only to the extent that such amounts are determined (under regulations prescribed by the Secretary) to exceed the benefits provided for such individual under the plan formula.
Clause (i) shall not apply to any amount received by an individual in his capacity as a policyholder of an annuity, endowment, or life insurance contract which is in the nature of a dividend or similar distribution and clause (i) shall not apply to amounts attributable to benefits accrued before .”
Pub. L. 99–514, § 1852(a)(2)(A), amended subpar. (A) generally. Prior to amendment, subpar. (A) read as follows: “This paragraph shall apply—
“(i) to amounts (other than any amount received by an individual in his capacity as a policyholder of an annuity, endowment, or life insurance contract which is in the nature of a dividend or similar distribution) which are received from a qualified trust described in section 401(a) or under a plan described in section 403(a) and which are received by an individual, who is, or has been, a 5-percent owner, before such individual attains the age of 59½ years, for any reason other than the individual’s becoming disabled (within the meaning of paragraph (7) of this subsection), but only to the extent that such amounts are attributable to contributions paid on behalf of such individual (other than contributions made by him as a 5-percent owner) while he was a 5-percent owner, and
“(ii) to amounts which are received from a qualified trust described in section 401(a) or under a plan described in section 403(a) at any time by an individual who is, or has been, a 5-percent owner or by the successor of such individual, but only to the extent that such amounts are determined, under regulations prescribed by the Secretary, to exceed the benefits provided for such individual under the plan formula.”
Pub. L. 99–514, § 1852(a)(2)(B)Subsec. (m)(5)(C). , amended subpar. (C) generally. Prior to amendment, subpar. (C) read as follows: “For purposes of this paragraph, the term ‘5 percent owner’ have the same meanings as when used in section 416.”
Pub. L. 99–514, § 1898(c)(1)(B)Subsec. (m)(10). , inserted “who is the spouse or former spouse of the participant”.
oPub. L. 99–514, § 1101(b)(2)(C)Subsec. ()(5). , inserted “and made for a taxable year beginning before ,” in subpar. (A), substituted “subsection (p)(3)(A)(i)” for “section 219(e)(3)” in subpar. (C), and substituted “subsection (p)(3)(B)” for “section 219(e)(4)” in subpar. (D).
Pub. L. 99–514, § 1134(a)Subsec. (p)(2)(A)(i). , amended cl. (i) generally. Prior to amendment, cl. (i) read as follows: “$50,000, or”.
Pub. L. 99–514, § 1134(d)Subsec. (p)(2)(B)(ii). , amended cl. (ii) generally. Prior to amendment, cl. (ii) read as follows: “Clause (i) shall not apply to any loan used to acquire, construct, reconstruct, or substantially rehabilitate any dwelling unit which within a reasonable time is to be used (determined at the time the loan is made) as a principal residence of the participant or a member of the family (within the meaning of section 267(c)(4)) of the participant.”
Pub. L. 99–514, § 1134(b)Subsec. (p)(2)(C), (D). , added subpar. (C) and redesignated former subpar. (C) as (D).
Pub. L. 99–514, § 1134(c)Subsec. (p)(3). , added par. (3) and redesignated former par. (3) as (4).
Pub. L. 99–514, § 1101(b)(2)(B), amended par. (3) generally. Prior to amendment, par. (3) read as follows: “For purposes of this subsection, the term ‘qualified employer plan’ means any plan which was (or was determined to be) a qualified employer plan (as defined in section 219(e)(3) other than a plan described in subsection (e)(7)). For purposes of this subsection, such term includes any government plan (as defined in section 219(e)(4)).”
Pub. L. 99–514, § 1134(c)Subsec. (p)(4), (5). , redesignated former pars. (3) and (4) as (4) and 5, respectively.
Pub. L. 99–514, § 1123(b)(1)(B)Subsec. (q). , substituted “10-percent” for “5-percent” in heading.
Pub. L. 99–514, § 1123(b)(1)(A)Subsec. (q)(1). , substituted “10 percent” for “5 percent”.
Pub. L. 99–514, § 1123(b)(3)Subsec. (q)(2). , substituted “Paragraph (1)” for “This subsection” in introductory provisions.
Pub. L. 99–514, § 1826(c)Subsec. (q)(2)(B). , amended subpar. (B) generally. Prior to amendment, subpar. (B) read as follows: “made to a beneficiary (or to the estate of an annuitant) on or after the death of an annuitant,”.
Pub. L. 99–514, § 1123(b)(2)Subsec. (q)(2)(D). , amended subpar. (D) generally. Prior to amendment, subpar. (D) read as follows: “which is one of a series of substantially equal periodic payments made for the life of a taxpayer or over a period extending for at least 60 months after the annuity starting date,”.
Pub. L. 99–514, § 1852(c)(2)Subsec. (q)(2)(E). , inserted “(determined without regard to subsection (e)(7))”.
Pub. L. 99–514, § 1826(d)Subsec. (q)(2)(G). , added subpar. (G).
Pub. L. 99–514, § 1123(b)(4)Subsec. (q)(2)(I), (J). , which added subpars. (I) and (J) directed the amendment of subpar. (G) by striking out “or” at the end thereof, and of subpar. (H) by striking out the period at the end thereof, could not be executed to subpars. (G) and (H) because subpar. (G) does not contain “or”, and no subpar. (H) was enacted.
Pub. L. 99–514, § 1123(b)(3)Subsec. (q)(3). , added par. (3).
Pub. L. 99–514, § 1826(b)(2)Subsec. (s)(1). , substituted “any holder of such contract” for “the holder of such contract” in subpars. (A) and (B).
Pub. L. 99–514, § 1826(a)Subsec. (s)(5). , added par. (5).
Pub. L. 99–514, § 1826(b)(1)Subsec. (s)(6), (7). , added pars. (6) and (7).
Pub. L. 99–514, § 1123(a)Subsec. (t). , added subsec. (t) and redesignated former subsec. (t) as (u).
Pub. L. 99–514, § 1135(a)Subsecs. (u), (v). , added subsec. (u) and redesignated former subsec. (u) as (v).
Pub. L. 98–369, § 523(b)(1)1984—Subsec. (e)(5)(D). , substituted “Except as provided in paragraph (7), this” for “This”.
Pub. L. 98–369, § 211(b)(1)Subsec. (e)(5)(D)(ii)(IV). , which directed substitution of “section 818(a)(3)” for “805(d)(3)” in subpar. (D)(i)(IV), was executed to subpar. (D)(ii)(IV) to reflect the probable intent of Congress.
Pub. L. 98–369, § 523(a)Subsec. (e)(7). , added par. (7).
Pub. L. 98–369, § 421(b)(1)Subsec. (k). , repealed subsec. (k) relating to payments in discharge of alimony.
Pub. L. 98–369, § 713(c)(1)(B)Subsec. (m)(5). , substituted “key employees” for “owner-employees” in heading.
Pub. L. 98–369, § 521(d)(1)Subsec. (m)(5)(A). , (2), substituted “5-percent owner” for “key employee” wherever appearing and struck out “in a top-heavy plan” at end of cl. (i).
Pub. L. 98–369, § 713(c)(1)(A), substituted “as a key employee” for “as an owner-employee” in cl. (i).
Pub. L. 98–369, § 521(d)(3)Subsec. (m)(5)(C). , substituted “the term ‘5 percent owner’ ” for “the terms ‘key employee’ and ‘top-heavy plan’ ”.
Pub. L. 98–369, § 713(d)(1)Subsec. (m)(9). , repealed par. (9) relating to return of excess contributions before due date of return.
Pub. L. 98–397Subsec. (m)(10). added par. (10).
oPub. L. 98–369, § 491(d)(3)Subsec. ()(1). , substituted “402 and 403” for “402, 403, and 405”.
oPub. L. 98–369, § 713(b)(1)(A)Subsec. ()(3)(A). , inserted “(other than the exception contained in paragraph (2) thereof)”.
oPub. L. 98–369, § 491(d)(4)Subsec. ()(4). , substituted “and 408(d)(3)” for “408(d)(3), and 409(b)(3)(C)”.
Pub. L. 98–369, § 713(b)(1)(B)oSubsec. (p)(2)(A). , inserted at end “For purposes of clause (ii), the present value of the nonforfeitable accrued benefit shall be determined without regard to any accumulated deductible employee contributions (as defined in subsection ()(5)(B)).”
Pub. L. 98–369, § 713(b)(4)Subsec. (p)(2)(A)(ii). , substituted as cl. (ii) “the greater of (I) one-half of the present value of the nonforfeitable accrued benefit of the employee under the plan, or (II) $10,000” for “½ of the present value of the nonforfeitable accrued benefit of the employee under the plan (but not less than $10,000)”.
Pub. L. 98–369, § 523(b)(2)Subsec. (p)(3). , inserted “other than a plan described in subsection (e)(7)”.
Pub. L. 98–369, § 222(a)Subsec. (q)(1). , amended par. (1) generally, striking out designation “(A) In general.—” preceding text, substituting “which is includible in gross income” for “includible in gross income which is properly allocable to any investment in the annuity contract made during the 10-year period ending on the date such amount was received by the taxpayer”, and striking out former subpar. (B), which had provided that for purposes of subpar. (A), the amount includible in gross income would be allocated to the earliest investment in the contract with respect to which amounts had not been previously fully allocated under this par.
Pub. L. 98–369, § 222(b)Subsecs. (s), (t). , added subsec. (s) and redesignated former subsec. (s) as (t).
oPub. L. 97–448, § 103(c)(6)1983—Subsec. ()(2)(A). , struck out “to which the employee made one or more deductible employee contributions” after “from a qualified employer plan or government plan”.
Pub. L. 97–448, § 103(c)(3)(B)(i)Subsec. (p)(3). , struck out “without regard to subparagraph (D) thereof” after “as defined in section 219(e)(3)”.
Pub. L. 98–76Subsecs. (r), (s). added subsec. (r) and redesignated former subsec. (r) as (s).
Pub. L. 97–248, § 265(a)1982—Subsec. (e). , in par. (1) substituted provisions relating to the application of this subsection to amounts received under annuity, endowment, or life insurance contracts which are not received as annuities and to amounts received as dividends for provisions which stated a general rule relating to the includability as gross income of amounts that were received under annuity, endowment, or life insurance contracts which were not received as annuities and also stated that for the purposes of this section amounts which were received as dividends would be treated as amounts not received as an annuity, in par. (2) substituted provisions stating a general rule as to the includability as gross income of amounts received before or after the annuity starting date for provisions which set out those amounts which would be treated as amounts not received as an annuity, and added pars. (3) to (6).
Pub. L. 97–248, § 236(b)(1)Subsec. (m)(4). , struck out par. (4) which related to amounts constructively received with respect to assignments or pledges, and loans on contracts.
Pub. L. 97–248, § 237(d)(1)Subsec. (m)(5). , (2), in subpar. (A) substituted applicability to key employees for applicability to owner-employees and added subpar. (C).
Pub. L. 97–248, § 237(d)(3)Subsec. (m)(6). , struck out “except in applying paragraph (5),” after “shall”.
Pub. L. 97–248, § 236(b)(1)Subsec. (m)(8). , struck out par. (8) which related to loans to owner-employees.
oPub. L. 97–248, § 236(b)(2)Subsec. ()(3)(A). , substituted reference to subsec. (p) of this section for references to subsec. (m)(4) and (8) of this section.
Pub. L. 97–248, § 236(a)Subsec. (p). , added subsec. (p). Former subsec. (p) redesignated (q).
Pub. L. 97–248, § 265(b)(1)Subsec. (q). , added subsec. (q). Former subsec. (q) redesignated (r).
Pub. L. 97–248, § 236(a), redesignated former subsec. (p) as (q).
Pub. L. 97–248Subsec. (r). , §§ 236(a), 265(b)(1), redesignated former subsec. (p) as (r).
Pub. L. 97–34, § 312(d)(1)1981—Subsec. (m)(6). , expanded definition of “owner-employee” to include an employee within the meaning of section 401(c)(1) except in applying paragraph (5).
Pub. L. 97–34, § 312(d)(2)Subsec. (m)(8). , added par. (8).
Pub. L. 97–34, § 312(e)(1)Subsec. (m)(9). , added par. (9).
oPub. L. 97–34, § 311(b)(1)ooSubsecs. (), (p). , added subsec. () and redesignated former subsec. () as (p).
Pub. L. 94–455, § 1906(b)(13)(A)1976—Subsec. (c)(2), (3)(A). , struck out “or his delegate” after “Secretary”.
Pub. L. 94–455, § 1901(a)(12)Subsec. (d)(1). , struck out in subpar. (B) “(whether or not before )” after “beginning on the date”, and in provisions following subpar. (B) struck out “(under this paragraph and prior income tax laws)” after “until there has been so excluded”.
Pub. L. 94–455, § 1906(b)(13)(A)Subsec. (f). , struck out “or his delegate” after “Secretary”.
Pub. L. 94–455, § 1951(b)(1)(A)Subsec. (i). , struck out subsec. (i) which related to joint annuities where first annuitant died in 1951, 1952, or 1953.
Pub. L. 94–455, § 1906(b)(13)(A)Subsec. (m)(2), (3). , struck out “or his delegate” after “Secretary”.
Pub. L. 94–455, § 1901(a)(13)Subsec. (m)(4)(A). , substituted “an individual retirement account” for “an individual retirement amount”.
Pub. L. 94–455, § 1906(b)(13)(A)Subsec. (m)(5)(A)(ii), (7). , struck out “or his delegate” after “Secretary”.
Pub. L. 93–406, § 2001(h)(2)1974—Subsec. (m)(1). , struck out par. (1) which related to certain amounts received before annuity starting date.
Pub. L. 93–406, § 2002(g)(10)(A)Subsec. (m)(4)(A). , inserted references to an individual retirement amount described in section 408(a) and an individual retirement annuity described in section 408(b).
Pub. L. 93–406, § 2001(e)(5)Subsec. (m)(5)(A). , (h)(3), substituted “(other than contributions made by him as an owner-employee)” for “(whether or not paid by him)” in cl. (i), and struck out cl. (iii) which had made reference to amounts which were received, by an individual who was or had been, an owner-employee, by reason of the distribution under the provisions of section 401(e)(2)(E) of his entire interest in all qualified trusts described in section 401(a) and in all plans described in section 403(a).
Pub. L. 93–406, § 2001(g)(1)Subsec. (m)(5)(B). , substituted provisions that if a person receives an amount to which subsec. (m)(5) applies, his tax under this chapter for the taxable year in which such amount is received shall be increased by an amount equal to 10 percent of the portion of the amount so received which is includible in his gross income for such taxable year for provisions that if the aggregate amounts to which subsec. (m)(5) applied received by any person in his taxable year equalled or exceeded $2,500, the increase in his tax for the taxable year in which such amounts were received and attributable to such amounts could not be less than 110 percent of the aggregate increase in taxes, for the taxable year and the 4 immediately preceding taxable years, which would have resulted if such amounts had been included in such person’s gross income ratably over such taxable years, with provision for alternate computation if deductions had been allowed under section 404 for contributions paid for a number of prior taxable years less than 4.
Pub. L. 93–406, § 2001(g)(2)(A)Subsec. (m)(5)(C) to (E). , struck out subpars. (C) to (E) which contained special rules for the application of subsec. (m)(5).
Pub. L. 93–406, § 2002(g)(10)(B)Subsec. (m)(6). , inserted reference to an individual for whose benefit an individual retirement account or annuity described in section 408(a) or (b) is maintained.
Pub. L. 93–406oSubsec. (n). , §§ 2005(c)(3), 2007(b)(2), redesignated former subsec. () as (n) and in heading of subsec. (n) as so redesignated inserted reference to survivor benefit plan. Former subsec. (n), which set out provisions covering the treatment to be accorded total distributions, was struck out.
oPub. L. 93–406, § 2005(c)(3)ooSubsec. (). , redesignated former subsec. (p) as (). Former subsec. () redesignated (n) and amended.
Pub. L. 93–406, § 2005(c)(3)oSubsec. (p). , redesignated subsec. (p) as ().
Pub. L. 91–172, § 515(b)(1)1969—Subsec. (n)(1). , altered section to accommodate the insertion into sections 402 and 403 of provisions under which employer contributions to qualified pension, profit sharing, stock bonus, and annuity plans for plan years beginning after 1969 are to be treated as ordinary income when received in a lump sum distribution, but with such amounts to be eligible for a special averaging procedure.
Pub. L. 91–172, § 515(b)(2)Subsec. (n)(4). , added par. (4).
oPub. L. 89–365oo1966—Subsecs. (), (p). added subsec. () and redesignated former subsec. () as (p).
Pub. L. 89–97, § 106(d)(2)(A)1965—Subsec. (m)(5)(A)(i). , substituted “paragraph (7) of this subsection” for “section 213(g)(3)”.
Pub. L. 89–97, § 106(d)(2)(B)Subsec. (m)(7). , added par. (7).
Pub. L. 89–97, § 106(d)(2)(C)Subsec. (n)(1). , substituted in subpars. (A)(iii) and (B)(iii) “subsection (m)(7)” for “section 213(g)(3)”.
Pub. L. 89–44Subsec. (n)(3). substituted “sections 31 and 39” for “section 31” in sentence following subpar. (B).
Pub. L. 88–2721964—Subsec. (e)(3). struck out par. (3) which provided for a limit on the tax attributable to the receipt of a lump sum.
Pub. L. 87–792, § 4(a)1962—Subsec. (d)(2). , designated existing provisions as cl. (A) and added cl. (B).
Pub. L. 87–834Subsec. (f). inserted sentence providing that par. (2) shall not apply to amounts which were contributed by the employer after , and which would not have been includible in the gross income of the employee by reason of the application of Section 911 if such amounts had been paid directly to the employee at the time of contribution, and making such sentence inapplicable to amounts which were contributed by the employer, as determined under regulations, to provide pension or annuity credits, to the extent such credits are attributable to services performed before , and are provided pursuant to pension or annuity plan provisions in existence on , and on that date applicable to such services.
oPub. L. 87–792, § 4(b)oSubsecs. (m) to (). , added subsecs. (m) and (n) and redesignated former subsec. (m) as ().
Statutory Notes and Related Subsidiaries
Effective Date of 2022 Amendment
Pub. L. 117–328, div. T, title I, § 115(c)136 Stat. 5297
Pub. L. 117–328, div. T, title I, § 127(g)136 Stat. 5330
Pub. L. 117–328, div. T, title III, § 308(c)136 Stat. 5345
Pub. L. 117–328, div. T, title III, § 311(b)136 Stat. 5347
In general .—
Temporary rule with respect to distributions already made .—
Pub. L. 117–328, div. T, title III, § 314(b)136 Stat. 5350
Pub. L. 117–328, div. T, title III, § 323(e)136 Stat. 5358
In general .—
Annuity payments .—
No inference .—
Pub. L. 117–328, div. T, title III, § 326(b)136 Stat. 5359
Pub. L. 117–328, div. T, title III, § 329(b)136 Stat. 5361
Pub. L. 117–328, div. T, title III, § 330(b)136 Stat. 5361
Pub. L. 117–328, div. T, title III, § 331(a)(3)136 Stat. 5363
Pub. L. 117–328, div. T, title III, § 331(b)(3)136 Stat. 5365
Pub. L. 117–328, div. T, title III, § 331(c)(2)136 Stat. 5366
Pub. L. 117–328, div. T, title III, § 332(c)136 Stat. 5368
Pub. L. 117–328, div. T, title III, § 333(b)136 Stat. 5368
Pub. L. 117–328, div. T, title III, § 334(e)136 Stat. 5372
Pub. L. 117–328, div. T, title IV, § 401(c)136 Stat. 5388
Effective Date of 2019 Amendment
Pub. L. 116–94, div. O, title I, § 108(b)133 Stat. 3149
Pub. L. 116–94, div. O, title I, § 113(b)133 Stat. 3156
Effective Date of 2015 Amendment
Pub. L. 114–113, div. Q, title III, § 308(b)129 Stat. 3089
Pub. L. 114–26, § 2(d)129 Stat. 319
Effective Date of 2014 Amendment
Pub. L. 113–295section 221(b) of Pub. L. 113–295section 1 of this titleAmendment by effective , subject to a savings provision, see , set out as a note under .
Effective Date of 2010 Amendment
Pub. L. 111–240, title II, § 2113(b)124 Stat. 2567
Effective Date of 2008 Amendment
Pub. L. 110–458, title I, § 112122 Stat. 5113
Pub. L. 110–245, title I, § 107(b)122 Stat. 1631
Effective Date of 2006 Amendment
Pub. L. 109–280, title VIII, § 827(c)120 Stat. 1001
Effective date .—
Waiver of limitations .—
Pub. L. 109–280, title VIII, § 828(b)120 Stat. 1001
Pub. L. 109–280, title VIII, § 844(g)120 Stat. 1013
In general .—
Tax-free exchanges .—
Information reporting .—
Policy acquisition expenses .—
Technical amendment .—
Effective Date of 2004 Amendment
Pub. L. 108–357, title VIII, § 906(c)118 Stat. 1654
Pub. L. 108–311section 208 of Pub. L. 108–311section 2 of this titleAmendment by section 207(6), (7) of applicable to taxable years beginning after , see , set out as a note under .
Effective Date of 2001 Amendment
Pub. L. 107–90section 204(f) of Pub. L. 107–90section 24 of this titleAmendment by applicable to calendar years beginning after , see , set out as a note under .
Pub. L. 107–22section 1(c) of Pub. L. 107–22section 26 of this titleAmendment by effective , see , set out as a note under .
Pub. L. 107–16, title IV, § 402(h)115 Stat. 63
Pub. L. 107–16, title VI, § 632(a)(4)115 Stat. 115
Pub. L. 107–16section 641(f)(1) of Pub. L. 107–16section 402 of this titleAmendment by section 641(a)(2)(C), (e)(1) of applicable to distributions after , see , set out as a note under .
Effective Date of 1998 Amendment
Pub. L. 105–206, title III, § 3436(b)112 Stat. 761
Pub. L. 105–206section 6023(32) of Pub. L. 105–206section 34 of this titleAmendment by section 6023(3), (4) of effective , see , set out as a note under .
Pub. L. 105–206Pub. L. 105–34section 6024 of Pub. L. 105–206section 1 of this titleAmendment by sections 6004(d)(3)(B) and 6005(c)(1) of effective, except as otherwise provided, as if included in the provisions of the Taxpayer Relief Act of 1997, , to which such amendment relates, see , set out as a note under .
Effective Date of 1997 Amendment
Pub. L. 105–34, title II, § 203(c)111 Stat. 809
Pub. L. 105–34, title III, § 303(c)111 Stat. 831
Pub. L. 105–34, title X, § 1075(c)111 Stat. 949
Effective Date of 1996 Amendment
Pub. L. 104–191, title III, § 361(d)110 Stat. 2072
Pub. L. 104–188, title I, § 1403(b)110 Stat. 1791
Pub. L. 104–188, title I, § 1421(e)110 Stat. 1800
Pub. L. 104–188, title I, § 1463(b)110 Stat. 1824
Pub. L. 104–188, title I, § 1704l110 Stat. 1882
Effective Date of 1992 Amendment
Pub. L. 102–318section 521(e) of Pub. L. 102–318section 402 of this titleAmendment by applicable to distributions after , see , set out as a note under .
Effective Date of 1989 Amendment
Pub. L. 101–239Pub. L. 100–647section 7817 of Pub. L. 101–239section 1 of this titleAmendment by effective, except as otherwise provided, as if included in the provision of the Technical and Miscellaneous Revenue Act of 1988, , to which such amendment relates, see , set out as a note under .
Effective Date of 1988 Amendment
Pub. L. 100–647Pub. L. 99–514section 1019(a) of Pub. L. 100–647section 1 of this titleAmendment by sections 1011A(b)(1)(A), (B), (2), (9), (c)(1)–(8), (h), (i), and 1018(k), (t)(1)(A), (B), and (u)(8) of effective, except as otherwise provided, as if included in the provision of the Tax Reform Act of 1986, , to which such amendment relates, see , set out as a note under .
Pub. L. 100–647section 5012(e) of Pub. L. 100–647section 7702A of this titleAmendment by section 5012(a), (b)(1), (d) of applicable to contracts entered into on or after , with special rule where death benefit increases by more than $150,000, certain other material changes taken into account, certain exchanges permitted, and special rule in the case of annuity contracts, see , set out as an Effective Date note under .
Effective Date of 1986 Amendment
Pub. L. 99–514, title XI, § 1101(c)100 Stat. 2414
section 1122(c)(1) of Pub. L. 99–514section 1122(c)(2) of Pub. L. 99–514section 1122(c)(3) of Pub. L. 99–514section 72(e)(8)(D) of this titlesection 1122(h)(2) of Pub. L. 99–514section 402 of this titleAmendment by applicable to individuals whose annuity starting date is after , amendment by applicable to individuals whose annuity starting date is after , and amendment by applicable to amounts received after , in the case of any plan not described in , see , set out as a note under .
Pub. L. 99–514, title XI, § 1123(e)100 Stat. 2475Pub. L. 100–647, title I, § 1011A(c)(11)102 Stat. 3476
In general .—
Subsection (c).—
Exception where distribution commences .—
Transition rule .—
Special rule for distributions under an annuity contract .—
Pub. L. 99–514, title XI, § 1134(e)100 Stat. 2484
Pub. L. 99–514, title XI, § 1135(b)100 Stat. 2485
Pub. L. 99–514Pub. L. 98–369, div. Asection 1881 of Pub. L. 99–514section 48 of this titleAmendment by sections 1826(a), (d), 1852(a)(2), (c)(1)–(4), and 1854(b)(1) of effective, except as otherwise provided, as if included in the provisions of the Tax Reform Act of 1984, , to which such amendment relates, see , set out as a note under .
Pub. L. 99–514, title XVIII, § 1826(b)(4)100 Stat. 2850
Pub. L. 99–514, title XVIII, § 1826(c)100 Stat. 2850Pub. L. 100–647, title I, § 1018(t)(1)(D)102 Stat. 3587section 1826(c) of Pub. L. 99–514, , , as amended by , , , provided that the amendment made by is effective with respect to distributions commencing after the date 6 months after .
Pub. L. 99–514, title XVIII, § 1854(b)(6)100 Stat. 2878
Pub. L. 99–514, title XVIII, § 1898(c)(1)(C)100 Stat. 2951
Effective Date of 1984 Amendment
Pub. L. 98–397section 303(d) of Pub. L. 98–397section 1001 of Title 29Amendment by effective , except as otherwise provided, see , set out as a note under , Labor.
section 211(b)(1) of Pub. L. 98–369section 215 of Pub. L. 98–369section 801 of this titleAmendment by applicable to taxable years beginning after , see , set out as an Effective Date note under .
Pub. L. 98–369, div. A, title II, § 222(c)98 Stat. 774Pub. L. 99–514, § 2100 Stat. 2095
In general .—
Transitional rules for contracts issued before effective date .—
section 421(b)(1) of Pub. L. 98–369section 421(d) of Pub. L. 98–369section 1041 of this titleAmendment by applicable to transfers after , in taxable years ending after such date, subject to election to have repeal apply to transfers after 1983 or to transfers pursuant to existing decrees, see , set out as an Effective Date note under .
Pub. L. 98–369section 491(f)(1) of Pub. L. 98–369section 62 of this titleAmendment by section 491(d)(3), (4) of applicable to obligations issued after , see , set out as a note under .
section 521(d) of Pub. L. 98–369section 521(e) of Pub. L. 98–369section 401 of this titleAmendment by applicable to years beginning after , see , set out as a note under .
Pub. L. 98–369, div. A, title V, § 523(c)98 Stat. 872
Pub. L. 98–369Pub. L. 97–248section 715 of Pub. L. 98–369section 31 of this titleAmendment by section 713(b)(1), (4), (c)(1)(A), (B) of effective as if included in the provision of the Tax Equity and Fiscal Responsibility Act of 1982, , to which such amendment relates, see , set out as a note under .
Pub. L. 98–369, div. A, title VII, § 713(d)(1)98 Stat. 957Pub. L. 99–514, title XVIII, § 1875(c)(5)100 Stat. 2895section 713(d)(1) of Pub. L. 98–369, , , as amended by , , , provided that the amendment made by is effective with respect to contributions made in taxable years beginning after .
Effective Date of 1983 Amendment
Pub. L. 98–76, title II, § 227(b)97 Stat. 426Pub. L. 99–514, § 2100 Stat. 2095
In general .—
Treatment of certain lump-sum payments received after .—
No fresh start .—
Pub. L. 97–448, title I, § 103(c)(3)(B)(ii)96 Stat. 2376
Pub. L. 97–448Pub. L. 97–34section 109 of Pub. L. 97–448section 1 of this titleAmendment by title I of effective, except as otherwise provided, as if it had been included in the provision of the Economic Recovery Tax Act of 1981, , to which such amendment relates, see , set out as a note under .
Effective Date of 1982 Amendment
Pub. L. 97–248, title II, § 236(c)96 Stat. 510Pub. L. 97–448, title III, § 306(a)(11)96 Stat. 2404Pub. L. 98–369, div. A, title V, § 55498 Stat. 897Pub. L. 99–514, § 2100 Stat. 2095
In general .—
Exception for certain loans used to repay outstanding obligations.—
In general .—
Qualified refunding loan .—
Required principal payment .—
Special rule for non-key employees .—
Treatment of certain renegotiations .—
Pub. L. 97–248, title II, § 265(c)96 Stat. 547
Subsection (a).—
Subsection (b).—
section 237(d) of Pub. L. 97–248section 241 of Pub. L. 97–248section 416 of this titleAmendment by applicable to years beginning after , see , set out as an Effective Date note under .
Effective Date of 1981 Amendment
Pub. L. 97–34, title III, § 312(f)95 Stat. 285Pub. L. 97–448, title I, § 103(d)(3)96 Stat. 2378
In general.—
Transitional rule.—
Effective Date of 1976 Amendment
Pub. L. 94–455section 1901(d) of Pub. L. 94–455section 2 of this titleAmendment by section 1901(a)(12), (13) of applicable with respect to taxable years beginning after , see , set out as a note under .
Pub. L. 94–455, title XIX, § 1951(d)90 Stat. 1841
Effective Date of 1974 Amendment
section 2001(e)(5) of Pub. L. 93–406section 2001(i)(4) of Pub. L. 93–406section 401 of this titleAmendment by applicable to contributions made in taxable years beginning after , see , set out as a note under .
Pub. L. 93–406, title II, § 2001(i)(5)88 Stat. 958
section 2002(g)(10) of Pub. L. 93–406section 2002(i)(2) of Pub. L. 93–406section 4973 of this titleAmendment by effective on , see , set out as an Effective Date note under .
section 2005(c)(3) of Pub. L. 93–406section 2005(d) of Pub. L. 93–406section 402 of this titleAmendment by , applicable only with respect to distributions or payments made after , in taxable years beginning after , see , set out as a note under .
section 2007(b)(2) of Pub. L. 93–406section 2007(c) of Pub. L. 93–406section 122 of this titleAmendment by applicable to taxable years ending on or after , see , set out as a note under .
Effective Date of 1969 Amendment
Pub. L. 91–172section 515(d) of Pub. L. 91–172section 402 of this titleAmendment by applicable to taxable years ending after , see , set out as a note under .
Effective Date of 1966 Amendment
Pub. L. 89–365section 1(d) of Pub. L. 89–365section 122 of this titleAmendment by applicable with respect to taxable years ending after , see , set out as an Effective Date note under .
Effective Date of 1965 Amendment
Pub. L. 89–97section 106(e) of Pub. L. 89–97section 213 of this titleAmendment by applicable to taxable years beginning after , see , set out as a note under .
Pub. L. 89–44section 809(f) of Pub. L. 89–44section 6420 of this titleAmendment by applicable to taxable years beginning on or after , see , set out as a note under .
Effective Date of 1964 Amendment
Pub. L. 88–272section 232(g) of Pub. L. 88–272section 5 of this titleAmendment by applicable to taxable years beginning after , see , set out as a note under .
Effective Date of 1962 Amendment
Pub. L. 87–834, § 11(c)(2)76 Stat. 1006
Pub. L. 87–792section 8 of Pub. L. 87–792section 22 of this titleAmendment by applicable to taxable years beginning after , see , set out as a note under .
Savings Provision
Pub. L. 101–508section 11821(b) of Pub. L. 101–508section 45K of this titleFor provisions that nothing in amendment by be construed to affect treatment of certain transactions occurring, property acquired, or items of income, loss, deduction, or credit taken into account prior to , for purposes of determining liability for tax for periods ending after , see , set out as a note under .
Pub. L. 94–455, title XIX, § 1951(b)(1)(B)90 Stat. 1836
Special Rules for Use of Retirement Funds
Pub. L. 116–136, div. A, title II, § 2202134 Stat. 340Pub. L. 116–260, div. N, title II, § 280(a)134 Stat. 1982Pub. L. 117–328, div. T, title V, § 501(c)(2)(A)136 Stat. 5389
Tax-favored Withdrawals From Retirement Plans.—
In general .—
Aggregate dollar limitation.—
In general .—
Treatment of plan distributions .—
Controlled group .—
Amount distributed may be repaid.—
In general .—
Treatment of repayments of distributions from eligible retirement plans other than iras .—
Treatment of repayments of distributions from iras .—
Definitions .—
Coronavirus-related distribution .—
Employee certification .—
Eligible retirement plan .—
Income inclusion spread over 3-year period.—
In general .—
Special rule .—
Special rules.—
Exemption of distributions from trustee to trustee transfer and withholding rules .—
Coronavirus-related distributions treated as meeting plan distribution requirements .—
Loans From Qualified Plans.—
Increase in limit on loans not treated as distributions .—
Delay of repayment .—
Qualified individual .—
Provisions Relating to Plan Amendments.—
In general .—
Amendments to which subsection applies.—
In general .—
Conditions .—
Pub. L. 116–260, div. N, title II, § 280(b)134 Stat. 1982
Applicability of Subsection (t)
Pub. L. 100–647, title I, § 1011A(c)(13)102 Stat. 3476
Plan Amendments Not Required Until January 1, 1998
Pub. L. 104–188section 1465 of Pub. L. 104–188section 401 of this titleFor provisions directing that if any amendments made by subtitle D [§§ 1401–1465] of title I of require an amendment to any plan or annuity contract, such amendment shall not be required to be made before the first day of the first plan year beginning on or after , see , set out as a note under .
Plan Amendments Not Required Until January 1, 1994
Pub. L. 102–318section 523 of Pub. L. 102–318section 401 of this titleFor provisions directing that if any amendments made by subtitle B [§§ 521–523] of title V of require an amendment to any plan, such plan amendment shall not be required to be made before the first plan year beginning on or after , see , set out as a note under .
Plan Amendments Not Required Until January 1, 1989
Pub. L. 99–514section 1140 of Pub. L. 99–514section 401 of this titleFor provisions directing that if any amendments made by subtitle A or subtitle C of title XI [§§ 1101–1147 and 1171–1177] or title XVIII [§§ 1800–1899A] of require an amendment to any plan, such plan amendment shall not be required to be made before the first plan year beginning on or after , see , as amended, set out as a note under .
Pub. L. 110–458Definition of Terms Used in Title I of
Pub. L. 110–458, title I, § 100122 Stat. 5093