§4980. Tax on reversion of qualified plan assets to employer — Inbound Citations
26 U.S.C. § 4980
Cited by 16 provisions in release 119-102.
Citations to 26 U.S.C. § 4980 as a whole
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(A) as an employer reversion for purposes of section 4980, or
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(II) shall be treated as an employer reversion for purposes of section 4980 (without regard to subsection (d) thereof).
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(B) Any assets transferred to a health benefits account, or an applicable life insurance account, in a qualified future transfer (and any income allocable thereto) which are not used as of the effective date of the election to terminate the transfer period with respect to such transfer under subparagraph (A), shall be transferred out of the account to the transferor plan within a reasonable period of time. The transfer required by this subparagraph shall be treated as an employer reversion for purposes of section 4980 (other than subsection (d) thereof), unless before the end of the 5-year period beginning after the original transfer period an equivalent amount is transferred back to such health benefits account, or applicable life insurance account, as the case may be. Any such transfer back pursuant to the preceding sentence may be made without regard to section 401(h)(1).
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(i) shall not be treated as an employer reversion from a qualified plan for purposes of section 4980, and
Citations to §4980(c)(1)(A)
Citations to §4980(c)(1)(B)
Citations to §4980(c)(2)(B)(ii)
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(3) In determining the amount of nondeductible contributions for any taxable year, there shall not be taken into account any contribution for such taxable year which is distributed to the employer in a distribution described in section 4980(c)(2)(B)(ii) if such distribution is made on or before the last day on which a contribution may be made for such taxable year under section 404(a)(6).
Citations to §4980(d)
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(1) If, in connection with the termination of a pension plan which is a single-employer plan, there is an election to establish or maintain a qualified replacement plan, or to increase benefits, as provided under section 4980(d) of title 26, a fiduciary shall discharge the fiduciary’s duties under this subchapter and subchapter III in accordance with the following requirements:(A) In the case of a fiduciary of the terminated plan, any requirement—(i) under section 4980(d)(2)(B) of title 26 with respect to the transfer of assets from the terminated plan to a qualified replacement plan, and(ii) under section 4980(d)(2)(B)(ii) or 4980(d)(3) of title 26 with respect to any increase in benefits under the terminated plan.(B) In the case of a fiduciary of a qualified replacement plan, any requirement—(i) under section 4980(d)(2)(A) of title 26 with respect to participation in the qualified replacement plan of active participants in the terminated plan,(ii) under section 4980(d)(2)(B) of title 26 with respect to the receipt of assets from the terminated plan, and(iii) under section 4980(d)(2)(C) of title 26 with respect to the allocation of assets to participants of the qualified replacement plan.
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(A) any term used in this subsection which is also used in section 4980(d) of title 26 shall have the same meaning as when used in such section, and
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(4) Nothing in this subsection shall be construed to limit the requirements of section 4980(d) of title 26 (as in effect immediately after the enactment of the Omnibus Budget Reconciliation Act of 1990) or section 1104(d) of this title with respect to any distribution of residual assets of a single-employer plan to the employer.
Citations to §4980(d)(2)(A)
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(i) under section 4980(d)(2)(A) of title 26 with respect to participation in the qualified replacement plan of active participants in the terminated plan,
Citations to §4980(d)(2)(B)
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(i) under section 4980(d)(2)(B) of title 26 with respect to the transfer of assets from the terminated plan to a qualified replacement plan, and
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(ii) under section 4980(d)(2)(B) of title 26 with respect to the receipt of assets from the terminated plan, and
Citations to §4980(d)(2)(B)(ii)
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(ii) under section 4980(d)(2)(B)(ii) or 4980(d)(3) of title 26 with respect to any increase in benefits under the terminated plan.
Citations to §4980(d)(2)(C)
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(iii) under section 4980(d)(2)(C) of title 26 with respect to the allocation of assets to participants of the qualified replacement plan.
Citations to §4980(d)(3)
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(ii) under section 4980(d)(2)(B)(ii) or 4980(d)(3) of title 26 with respect to any increase in benefits under the terminated plan.