26 U.S. Code § 4974 - Excise tax on certain accumulations in qualified retirement plans
If the amount distributed during the taxable year of the payee under any qualified retirement plan or any eligible deferred compensation plan (as defined in section 457(b)) is less than the minimum required distribution for such taxable year, there is hereby imposed a tax equal to 50 percent of the amount by which such minimum required distribution exceeds the actual amount distributed during the taxable year. The tax imposed by this section shall be paid by the payee.
For purposes of this section, the term “minimum required distribution” means the minimum amount required to be distributed during a taxable year under section 401(a)(9), 403(b)(10), 408(a)(6), 408(b)(3), or 457(d)(2), as the case may be, as determined under regulations prescribed by the Secretary.
1986—Pub. L. 99–514, § 1121(a)(1), amended section generally, substituting provisions imposing an excise tax on certain accumulations in qualified retirement plans for provisions imposing an excise tax on certain accumulations in individual retirement accounts and annuities.
Subsec. (a). Pub. L. 99–514, § 1852(a)(7)(B), substituted “section 408(a)(6) or 408(b)(3)” for “section 408(a)(6) or (7), or 408(b)(3) or (4)”.
Subsec. (b). Pub. L. 99–514, § 1852(a)(7)(C), substituted “section 408(a)(6) or 408(b)(3)” for “section 408(a)(6) or (7) or 408(b)(3) or (4)”.
1978—Subsec. (c). Pub. L. 95–600 added subsec. (c).
1976—Subsec. (b). Pub. L. 94–455 struck out “or his delegate” after “Secretary”.
Amendment by section 1121(a)(1) of Pub. L. 99–514 applicable to years beginning after Dec. 31, 1988, with special provisions for plans maintained pursuant to collective bargaining agreements ratified before Mar. 1, 1986, and transition rules, see section 1121(d) of Pub. L. 99–514, set out as a note under section 401 of this title.
Amendment by section 1852(a)(7)(B), (C) of Pub. L. 99–514 effective, except as otherwise provided, as if included in the provisions of the Tax Reform Act of 1984, Pub. L. 98–369, div. A, to which such amendment relates, see section 1881 of Pub. L. 99–514, set out as a note under section 48 of this title.
For provisions directing that if any amendments made by subtitle A or subtitle C of title XI [§§ 1101–1147 and 1171–1177] or title XVIII [§§ 1800–1899A] of Pub. L. 99–514 require an amendment to any plan, such plan amendment shall not be required to be made before the first plan year beginning on or after Jan. 1, 1989, see section 1140 of Pub. L. 99–514, as amended, set out as a note under section 401 of this title.
Written determinations for this section
These documents, sometimes referred to as "Private Letter Rulings", are taken from the IRS Written Determinations page; the IRS also publishes a fuller explanation of what they are and what they mean. The collection is updated (at our end) daily. It appears that the IRS updates their listing every Friday.
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We truncate results at 20000 items. After that, you're on your own.
- Required Distributions : 2014-09-12
- Waiver of Tax in Certain Cases : 2014-09-12
- Rollover Contributions : 2014-08-08
- Imposition of Gift Tax Imposed v. Not Imposed : 2014-08-08
- Tax on Excess Contributions to Individual Retirement Accounts, Certain 403 b Contracts and Certain Individual Retirement Annuities : 2014-08-08
- In General : 2008-03-14
- Employee Dies Before Entire Interest Distributed : 2008-03-14
- By a Surviving Spouse : 2002-05-31
- By a Surviving Spouse : 2002-01-25
- Rollover Contributions : 2001-06-29
- Required Distributions : 2001-06-29
- Employee Dies Before Entire Interest Distributed : 2001-06-29
- Tax Imposed : 2001-06-29
- By a Surviving Spouse : 1999-12-03
- By a Surviving Spouse : 1999-07-30
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