Page:United States Statutes at Large Volume 98 Part 1.djvu/919

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PUBLIC LAW 98-000—MMMM. DD, 1984

PUBLIC LAW 98-369—JULY 18, 1984 distribution within the meaning of section 402(e)(4)(A) (determined without regard to subparagraphs (B) and (H) of section 402(e)(4)) if such annuity contract were described in subsection (a), or 1 or more distributions of accumulated deductible employee contributions (within the meaning of section 72(o)(5))." (11) Subparagraph (C) of section 403(b)(8) is amended by striking out "(D)(v), and (E)(i)" and inserting in lieu thereof "(F)(i)". (12) Clause (ii) of section 408(d)(3)(A) is amended by striking out "rollover contribution from an employee's trust" and inserting in lieu thereof "rollover contribution of a qualified total distribution (as defined in section 402(a)(5)(E)(i)) from an employee's trust". (13) Subparagraph (C) of section 4090t))(3) is amended by striking out the second sentence and inserting in lieu thereof the following new sentences: "This subparagraph does not apply in the case of a transfer to such an employee's trust or such an annuity unless no part of the value of such proceeds is attributable to any source other than a qualified rollover contribution. For purposes of the preceding sentence, the term 'qualified rollover contribution' means any rollover contribution of a qualified total distribution (as defined in section 402(a)(5)(E)(i)) which is from such an employee's trust or annuity plan (other than an annuity plan or a trust forming part of a plan under which the individual was an employee within the meaning of section 401(c)(1) at the time contributions were made on his behalf under such plan), and which did not qualify as a rollover contribution by reason of section 402(a)(7)." (e) EFFECTIVE DATE.—The amendments made by this section shall apply to distributions made after the date of the amendment of this Act, in taxable years ending after such date.

98 STAT. 871

26 USC 403. 26 USC 408.

Ante, p. 852.

Ante, p. 869.

Ante, p. 869. 26 USC 402 note.

SEC. 523. TREATMENT OF DISTRIBUTIONS WHERE SUBSTANTIALLY ALL CONTRIBUTIONS ARE EMPLOYEE CONTRIBUTIONS. (a) IN GENERAL.—Subsection (e) of section 72 (relating to amounts 26 USC 72. not received as annuities) is amended by adding at the end thereof the following new paragraph: "(7) SPECIAL RULES FOR PLANS WHERE SUBSTANTIALLY ALL CON-

TRIBUTIONS ARE EMPLOYEE CONTRIBUTIONS.— "(A) IN GENERAL.—In the case of any plan or contract to which this paragraph applies, subparagraph (D) of paragraph (5) shall not apply to any amount received from such plan or contract. "(B) PLANS OR CONTRACTS TO WHICH THIS PARAGRAPH AP-

PUES.—This paragraph shall apply to any trust or contract— "(i) which is described in clause (i) or subclause (I), (II), or (III) of clause (ii) of paragraph (5)(D), and "(ii) with respect to which 85 percent of the total contributions during a representative period are derived from employee contributions. "(C) SPECIAL RULE FOR CERTAIN FEDERAL PLANS.—If the

Federal Government or an instrumentality thereof maintains more than 1 plan, subparagraph (B) shall be applied by aggregating all such plans which are actively administered by the Federal Government or such instrumentality." O> CONFORMING AMENDMENTS.— t)