120 STAT. 998
PUBLIC LAW 109–280—AUG. 17, 2006 (d) EFFECTIVE DATES.— (1) IN GENERAL.—The amendments made by subsections (a) and (c) shall take effect as if included in the amendments made by section 1526 of the Taxpayer Relief Act of 1997. (2) SUBSECTION (b).—The amendments made by subsection (b) shall take effect as if included in the amendments made by section 647 of the Economic Growth and Tax Relief Reconciliation Act of 2001.
26 USC 415 note.
SEC. 822. ALLOW ROLLOVER OF AFTER-TAX AMOUNTS IN ANNUITY CONTRACTS. 26 USC 402.
26 USC 402 note. Regulations.
(a) IN GENERAL.—Subparagraph (A) of section 402(c)(2) (relating to the maximum amount which may be rolled over) is amended— (1) by striking ‘‘which is part of a plan which is a defined contribution plan and which agrees to separately account’’ and inserting ‘‘or to an annuity contract described in section 403(b) and such trust or contract provides for separate accounting’’; and (2) by inserting ‘‘(and earnings thereon)’’ after ‘‘so transferred’’. (b) EFFECTIVE DATE.—The amendment made by subsection (a) shall apply to taxable years beginning after December 31, 2006. SEC. 823. CLARIFICATION OF MINIMUM DISTRIBUTION RULES FOR GOVERNMENTAL PLANS.
The Secretary of the Treasury shall issue regulations under which a governmental plan (as defined in section 414(d) of the Internal Revenue Code of 1986) shall, for all years to which section 401(a)(9) of such Code applies to such plan, be treated as having complied with such section 401(a)(9) if such plan complies with a reasonable good faith interpretation of such section 401(a)(9). SEC. 824. ALLOW DIRECT ROLLOVERS FROM RETIREMENT PLANS TO ROTH IRAS.
26 USC 408A and note.
VerDate 14-DEC-2004
10:20 Jul 12, 2007
(a) IN GENERAL.—Subsection (e) of section 408A of the Internal Revenue Code of 1986 (defining qualified rollover contribution) is amended to read as follows: ‘‘(e) QUALIFIED ROLLOVER CONTRIBUTION.—For purposes of this section, the term ‘qualified rollover contribution’ means a rollover contribution— ‘‘(1) to a Roth IRA from another such account, ‘‘(2) from an eligible retirement plan, but only if— ‘‘(A) in the case of an individual retirement plan, such rollover contribution meets the requirements of section 408(d)(3), and ‘‘(B) in the case of any eligible retirement plan (as defined in section 402(c)(8)(B) other than clauses (i) and (ii) thereof), such rollover contribution meets the requirements of section 402(c), 403(b)(8), or 457(e)(16), as applicable. For purposes of section 408(d)(3)(B), there shall be disregarded any qualified rollover contribution from an individual retirement plan (other than a Roth IRA) to a Roth IRA.’’. (b) CONFORMING AMENDMENTS.— (1) Section 408A(c)(3)(B) of such Code, as in effect before the Tax Increase Prevention and Reconciliation Act of 2005, is amended—
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