To amend the Internal Revenue Code of 1986 to allow retroactive elective deferrals for owners of unincorporated businesses in the case of a plan adopted after the close of the taxable year and before the time for filing the return of tax.

referredUnited States· United States Congress· EN

Introduced

30 April 2021

Last action

30 April 2021 · Introduced

Status

Referred to the House Committee on Ways and Means.

Summary

This bill allows sole proprietors a retroactive elective deferral under a tax-exempt retirement plan that is adopted after the close of the taxable year and before the time for the filing of the individual's tax return. The elective deferral is treated as made prior to the end of the plan's first plan year. An elective deferral is an amount contributed to certain tax-exempt retirement plans (e.g., 401(k)s, 403(b)s, SIMPLE pension plans and IRAs) by an employer at the employee's election and which, except to the extent they are designated Roth IRA contributions, are excludable from the employee's gross income.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

30 April 2021
Introduced
Referred to the House Committee on Ways and Means.
Source: IntroReferral
30 April 2021
Introduced
Introduced in House
Source: IntroReferral
30 April 2021
Introduced
Introduced in House
Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Introduced in House · 30 April 2021 · Download file

Documents

3 official files

Introduced in House (text)

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Introduced in House (text)
Introduced in House · EN · 30 April 2021
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Introduced in House (PDF)
Introduced in House · EN · 30 April 2021
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Introduced in House
summary · EN · 30 April 2021
Open at official source
Leesvertaling
Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.
Vertaal naar
Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Related records

related to ← Securing a Strong Retirement Act of 2022
related to ← EARN Act

Sources

PoliticalRepo is an index and interpretation layer, not the authoritative legal source.

Official source: https://www.congress.gov/bill/117th-congress/house-bill/2943
Open data entity: https://api.congress.gov/v3/bill/117/hr/2943
us · 117-hr-2943 · source updated 3 January 2025