To amend the Internal Revenue Code of 1986 to impose a penalty on a trustee of a retirement savings plan which permits trustee-to-trustee transfers of funds to another such plan if the trustee fails to make the transfer within 60 days.

Summary

Amends the Internal Revenue Code to impose a penalty on a trustee of a retirement plan which permits trustee-to-trustee transfers of funds to another such plan if the trustee fails to make such transfer within 60 days of a written request. Establishes the penalty at one percent of the amount of the requested transfer.

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Documents

2 official files

• Introduced in House (text)

  Introduced in House · EN

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 3 March 1992

  Open at official source

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