To avoid duplicative annual reporting under the Internal Revenue Code of 1986 and the Employee Retirement Income Security Act of 1974, and for other purposes.

Summary

This bill requires the Department of the Treasury and the Department of Labor to cooperate to modify specified returns required for deferred compensation plans and other employee benefit plans to permit all members of a group of plans to file a single aggregated annual return or report satisfying the requirements of both the Internal Revenue Code and the Employee Retirement Income Security Act of 1974 (ERISA). The requirement applies to a group in which all of the plans are individual account plans or defined contribution plans; have the same trustee, the same one or more named fiduciaries, the same administrator, and plan years beginning on the same date; and provide the same investments or investment options to participants and beneficiaries. The bill also specifies that, for the purposes of applying the numerical limitations related to the electronic filing of returns for deferred compensation plans, each plan for which information is provided on the return must be treated as a separate return.

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

Timeline

1. 5 February 2019

   Introduced

   Referred to the Committee on Ways and Means, and in addition to the Committee on Education and Labor, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

   Source: IntroReferral

2. 5 February 2019

   Introduced

   Introduced in House

   Source: IntroReferral

3. 5 February 2019

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 5 February 2019 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 5 February 2019

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 5 February 2019

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 5 February 2019

  Open at official source

Sponsors

• Linda Sánchez · D · Sponsor
• David Roe · R · Sponsor
• · hsed00 · Standing
• · hswm00 · Standing

Related records

• related to ← A bill to avoid duplicative annual reporting under the Internal Revenue Code of 1986 and the Employee Retirement Income Security Act of 1974, and for other purposes.
• related to ← Retirement Enhancement and Savings Act of 2019
• related to ← Further Consolidated Appropriations Act, 2020
• related to ← Setting Every Community Up for Retirement Enhancement Act of 2019
• related to ← To avoid duplicative annual reporting under the Internal Revenue Code of 1986 and the Employee Retirement Income Security Act of 1974, and for other purposes.