A bill to amend the Internal Revenue Code of 1954 to permit certain multi-year pension plan distributions to be treated as qualifying rollover distributions.

Summary

Amends the Internal Revenue Code, with respect to the special rollover rules governing taxability of beneficiaries of employee pension trusts, to exclude from gross income for a particular taxable year distributions from a pension plan which are rolled over into an eligible retirement plan after the close of such taxable year but before the date prescribed by law for the filing of an income tax return (ordinarily, April 15). Limits such exclusion to distributions made under a plan on account of its termination or the complete discontinuance of contributions.

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Documents

1 official file

• Introduced in Senate

  summary · EN · 22 May 1980

  Open at official source

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