A bill to amend the Internal Revenue Code of 1954 to permit tax-free rollovers of distributions from employee retirement plans in the event of plan termination.

referredUnited States· United States Congress· EN

Introduced

31 March 1976

Last action

—

Status

Referred to House Committee on Ways and Means.

Summary

Authorizes the balance to the credit of an employee who is a beneficiary of an exempt trust or annuity, under the Internal Revenue Code, to be paid out within one taxable year of the employee, on account of a termination of the employee benefit plan without inclusion in the gross income of such employee if such benefit payment is transferred to an individual retirement annuity, account, or bond within 60 days. Makes technical and conforming amendments.

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Documents

1 official file

Introduced in House
summary · EN · 31 March 1976
Open at official source

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Sources

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Official source: https://www.congress.gov/bill/94th-congress/house-bill/12920
Open data entity: https://api.congress.gov/v3/bill/94/hr/12920