Editorial Notes
Amendments
2022—Subsecs. (f), (g). Pub. L. 117–328 added subsec. (f) and redesignated former subsec. (f) as (g).
2018—Subsec. (e). Pub. L. 115–141 redesignated pars. (2) and (3) as (1) and (2), respectively, and struck out former par. (1) which read as follows: “section 408(f),”.
1986—Subsec. (f). Pub. L. 99–514 substituted “section 6652(e)” for “section 6652(f)”.
1984—Subsec. (e). Pub. L. 98–369 struck out par. (2) which included a tax imposed by section 409(c) within term “special IRP tax”, and redesignated pars. (3) and (4) as (2) and (3), respectively.
1978—Subsec. (c). Pub. L. 95–600 substituted “an individual retirement plan” for “an individual retirement account or annuity described in section 408”.
Subsecs. (d) to (f). Pub. L. 95–600 added subsecs. (d) and (e) and redesignated former subsec. (d) as (f).
1976—Subsec. (a). Pub. L. 94–455 struck out “or his delegate” after “Secretary”.
Statutory Notes and Related Subsidiaries
Effective Date of 1978 Amendment
Pub. L. 95–600, title I, § 157(k)(3), Nov. 6, 1978, 92 Stat. 2809, provided that:
“The amendments made by paragraph (1) [amending this section] shall apply to returns for taxable years beginning after
December 31, 1977. The amendment made by paragraph (2) [amending
section 7701 of this title] shall apply to taxable years beginning after
December 31, 1974.”
Updated Forms
Pub. L. 117–328, div. T, title I, § 103(c)(2), Dec. 29, 2022, 136 Stat. 5285, provided that:
“The Secretary of the Treasury shall amend the forms relating to reports required under section 6058 of the Internal Revenue Code of 1986 to require—
“(A)
separate reporting of the aggregate amount of contributions received by the plan during the year under section 6433 of the
Internal Revenue Code of 1986 (as added by this section), and
“(B)
similar reporting with respect to individual retirement accounts (as defined in section 408 of such Code) and individual retirement annuities (as defined in section 408(b) of such Code).”
[Pub. L. 117–328, div. T, title I, § 103(f), Dec. 29, 2022, 136 Stat. 5286, provided that section 103(c)(2) of Pub. L. 117–328, set out above, is applicable to taxable years beginning after Dec. 31, 2026.]
Combined Annual Report for Group of Plans
Pub. L. 116–94, div. O, title II, § 202(a)–(c), (e), Dec. 20, 2019, 133 Stat. 3162, 3163, as amended by Pub. L. 117–328, div. T, title III, § 345(a), Dec. 29, 2022, 136 Stat. 5380, provided that:
“(a) In General.—The Secretary of the Treasury and the Secretary of Labor shall, in cooperation, modify the returns required under section 6058 of the Internal Revenue Code of 1986 and the reports required by section 104 of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1024) so that—
“(1)
all members of a group of plans described in subsection (c) may file a single aggregated annual return or report satisfying the requirements of both such sections; and
“(b) Administrative Requirements.—
In developing the consolidated return or report under subsection (a), the Secretary of the Treasury and the Secretary of Labor may require such return or report to include any information regarding each plan in the group as such Secretaries determine is necessary or appropriate for the enforcement and administration of the
Internal Revenue Code of 1986 and the
Employee Retirement Income Security Act of 1974 [
29 U.S.C. 1001 et seq.] and shall require such information as will enable a participant in a plan to identify any aggregated return or report filed with respect to the plan.
“(c) Plans Described.—A group of plans is described in this subsection if all plans in the group—
“(2) have—
“(A)
the same trustee (as described in section 403(a) of such Act (
29 U.S.C. 1103(a)));
“(B)
the same one or more named fiduciaries (as described in section 402(a) of such Act (
29 U.S.C. 1102(a)));
“(D)
plan years beginning on the same date; and
“(3)
provide the same investments or investment options to participants and beneficiaries.
A plan not subject to title I of the
Employee Retirement Income Security Act of 1974 [
29 U.S.C. 1001 et seq.] shall be treated as meeting the requirements of paragraph (2) as part of a group of plans if the same person that performs each of the functions described in such paragraph, as applicable, for all other plans in such group performs each of such functions for such plan.
“(e) Effective Date.—
The modification required by subsection (a) shall be implemented not later than January 1, 2022, and shall apply to returns and reports for plan years beginning after December 31, 2021.”
[Pub. L. 117–328, div. T, title III, § 345(b), Dec. 29, 2022, 136 Stat. 5381, provided that:
“The amendments made by this section [amending
section 202(a) of Pub. L. 116–94, set out above] shall take effect on the date of the enactment of this Act [
Dec. 29, 2022].”
]
Reporting Simplification
Pub. L. 109–280, title XI, § 1103, Aug. 17, 2006, 120 Stat. 1057, provided that:
“(a) Simplified Annual Filing Requirement for Owners and Their Spouses.—
“(1) In general.—
The Secretary of the Treasury shall modify the requirements for filing annual returns with respect to one-participant retirement plans to ensure that such plans with assets of $250,000 or less as of the close of the plan year need not file a return for that year.
“(2) One-participant retirement plan defined.—For purposes of this subsection, the term ‘one-participant retirement plan’ means a retirement plan with respect to which the following requirements are met:
“(A) on the first day of the plan year—
“(i)
the plan covered only one individual (or the individual and the individual’s spouse) and the individual owned 100 percent of the plan sponsor (whether or not incorporated), or
“(ii)
the plan covered only one or more partners (or partners and their spouses) in the plan sponsor;
“(B)
the plan meets the minimum coverage requirements of section 410(b) of the
Internal Revenue Code of 1986 without being combined with any other plan of the business that covers the employees of the business;
“(C)
the plan does not provide benefits to anyone except the individual (and the individual’s spouse) or the partners (and their spouses);
“(D)
the plan does not cover a business that is a member of an affiliated service group, a controlled group of corporations, or a group of businesses under common control; and
“(E)
the plan does not cover a business that uses the services of leased employees (within the meaning of section 414(n) of such Code).
For purposes of this paragraph, the term ‘partner’ includes a 2-percent shareholder (as defined in section 1372(b) of such Code) of an S corporation.
“(3) Other definitions.—
Terms used in paragraph (2) which are also used in section 414 of the
Internal Revenue Code of 1986 shall have the respective meanings given such terms by such section.
“(4) Effective date.—
The provisions of this subsection shall apply to plan years beginning on or after January 1, 2007.
“(b) Simplified Annual Filing Requirement for Plans With Fewer Than 25 Participants.—
In the case of plan years beginning after December 31, 2006, the Secretary of the Treasury and the Secretary of Labor shall provide for the filing of a simplified annual return for any retirement plan which covers less than 25 participants on the first day of a plan year and which meets the requirements described in subparagraphs (B), (D), and (E) of subsection (a)(2).”