100 STAT. 2862
PUBLIC LAW 99-514—OCT. 22, 1986 contribution to the fund which is not allowable as a deduction under section 419 for the taxable year or any prior taxable year (and such contribution shall not be included in any carryover under section 419(d)). "(4) EXCEPTION FOR CERTAIN AMOUNTS CHARGED AGAINST EXIST-
ING RESERVE.—Subparagraphs (A) and (B) of paragraph (1) shall not apply to post-retirement benefits charged against an existing reserve for post-retirement medical or life insurance benefits (as defined in section 512(a)(3)(E)) or charged against the income on such reserve." (12) CLARIFICATION OF EFFECTIVE DATE.—Subsection (e) of section 511 of the Tax Reform Act of 1984 is amended by adding at the end thereof the following new paragraphs: "(6) AMENDMENTS RELATED TO TAX ON UNRELATED BUSINESS
INCOME.—The amendments made by subsection (b) shall apply with respect to taxable years ending after December 31, 1985. For purposes of section 15 of the Internal Revenue Code of 1954, such amendments shall be treated as a change in the rate of a tax imposed by chapter 1 of such Code. "(7) AMENDMENTS RELATED TO EXCISE TAXES ON CERTAIN WELFARE BENEFIT PLANS.—The amendments made by subsection (c)
shall apply to benefits provided after December 31, 1985." (13) Section 419A(f)(5) is amended to read as follows: "(5) SPECIAL RULE FOR COLLECTIVE BARGAINED AND EMPLOYEE
PAY-ALL PLANS.—No accounts limits shall apply in the case of any qualified asset account under a separate welfare benefit fund— "(A) under a collective bargaining agreement, or "(B) an employee pay-all plan under section 501(c)(9) if— "(i) such plan has at least 50 employees (determined without regard to subsection (h)(D), and "(ii) no employee is entitled to a refund with respect to amounts in the fund, other than a refund based on the experience of the entire fund." (14) CLERICAL AMENDMENT.—Paragraph (2) of section 511(e) of the Tax Reform Act of 1984 is amended by striking out "and section 514". (b) AMENDMENTS RELATED TO SECTION 512 OF THE ACT.— (1) TRANSITIONAL RULE FOR CERTAIN TAXPAYERS WITH FULLY VESTED VACATION PAY PLANS.—
(A) IN GENERAL.—In the case of any taxpayer— (i) who maintained a fully vested vacation pay plan where payments are expected to be paid (or are in fact paid) within 1 year after the accrual of the vacation pay, and (ii) who makes an election under section 463 of the Internal Revenue Code of 1954 for such taxpayer's 1st taxable year ending after the date of the enactment of the Tax Reform Act of 1984, in lieu of establishing a suspense account under such section 463, such election shall be treated as a change in the taxpayer's method of accounting and the adjustments required as a result of such change shall be taken into account under section 481 of such Code. (B) EXTENSION OF TIME FOR MAKING ELECTION.—In
the
case of any taxpayer who meets the requirements of subparagraph (A)(i), the time for making an election under
�
